MIRA
INFORM REPORT
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Report Date : |
05.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
EVERTZ MICROSYSTEMS LTD. |
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Registered Office : |
5288 John Lucas Drive, Burlington, Ontario - L7l 5Z9 |
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Country : |
Canada
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Financials (as on) : |
30.04.2007 |
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Date of Incorporation : |
1966 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designer, manufacturer and marketer of various television broadcasting
equipment. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name: EVERTZ
MICROSYSTEMS LTD.
Address: 5288 JOHN LUCAS DRIVE
City: BURLINGTON
State/Province: ONTARIO
Zip Code: L7L 5Z9
Country: CANADA
Telephone: 905 335-3700
Facsimile: 905 335-3573
Founded (D/M/Y): /
/1966
In KCAD As of: 30/04/2007
Sales / Revenue: 200,681
Net Income: 60,663
Total Equity: 112,444
Number of Employees: 410
Legal Form: Private Limited Company
Website: www.evertz.com
Business Activity: The
Firm is a designer, manufacturer and marketer of various television
broadcasting
equipment.
NOTE TO CLIENT
Person Contacted: Mr. Anthony
Gridley, Vice President and Chief Financial Officer.
Mr. Gridley stated that the Firm is the sole subsidiary of the holding
company; Evertz Technologies Limited. Therefore the financials of Evertz
Technologies Limited are actually the financials for the Firm.
LEGAL
Legal Form: Private
Limited Company
Since (D/M/Y): 01/07/2006
Status:
ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
The Firm is registered in Canada under the following:
Legal Name: Evertz Microsystems Ltd.
ID Number: 001703467
Status: Active
Jurisdiction: ONTARIO
Incorporation Date: 7/1/2006
Managers/Key Personnel
Mr. Romolo Magarelli
President & Chief Executive Officer
Mr. Anthony Gridley
Vice Pres.
& Chief Financial Officer
Mr. Doug Debruin
Vice
President & Secretary
Ms. Antomiella Perissintti
Controller
AFFILIATED ENTITIES
There are no other affiliates at this time.
Parent Companies
Parent Company: Evertz Technologies Limited
5288 John Lucas Drive
Burlington ON L7L 5Z9
CANADA
Telephone: 905 335-3700
STOCK QUOTE
Ticker: ET
Exchange: Toronto Stock Exchange
Last Updated: 02 Aug 2007
Last Bid Price: 23.520
Rolling 52 Week High: 26.000
Rolling 52 Week Low: 12.100
Quoted Market Value:
1,694,951,907
# of Shares Outstanding:
72,217,806
SUBSIDAIRIES
Evertz USA Inc. - Delaware
Quartz Electronics Limited - England & Wales
BANKS
Bank of Montreal
100 King Street West
Toronto ON M5X 1A1
Telephone: 416-867-6788
Facsimile: 416-867-6793
Account Number:
Account Manager:
The customer has satisfactorily handled normal business transactions.
PAYMENT HISTORY
Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing $ 1st
2nd 3rd
------------------------------------------------------------------------------
GENERAL MOTORS CORP: DLA-2007/09/28 6,762, Merged accts #
*Oct Jun/2004 0
326K 177K 177K
0 0 0
Mfr-Bolt,Screw,Rivet:
*Oct 0
1,699 1,699 1,699
0 0 0
Wholesale-Elec Equip:
*Oct 0
1,161 1,161 1,161
0 0 0
WASTE MANAGEMENT: 519-886-4891
*Oct 0
8,527 8,527 4,305
4,222 0 0
Whlsl-Electronic Pts:
*Oct 0 824K
824K 704K 89,523
7,565 23,193
Transportation Serv:
*Oct 0
249K 249K 178K
40,716 841 28,645
Mfr-Machine Tool:
*Oct 0
16,573 16,573 14,621
1,952 0 0
Mfr-Petroleum Prdts:
*Oct 0
517 517 517
0 0 0
Business Services:
*Oct 0
1,671 1,671 0
1,671 0 0
Retail-Establishment:
*Oct 0
22,000 16,654 16,654
0 0 0
Wholesale-Elec Equip:
*Oct 0
6,216 6,216 6,216
0 0 0
CITI CARDS CANADA: 800-233-8619 DLA-2006/08/30 #
*Oct Jan/1996 1,000 1,315 124 0 0
0 124
Whlsl-Ind Mach Sppls:
*Sep 0
21,913 21,913 21,913
0 0 0
Trucking:
*Sep 0
570 570 570
0 0 0
Retail-Bldg/Hardware:
*Aug 0
163 163 163
0 0 0
Whlsl-Commercial Mch:
*Aug 0
75,000 4,134 4,134
0 0 0
Transportation Serv: Merged accts
*Aug 0
1,253 1,253 534
476 243 0
Whlsl-Ind Mach Sppls:
*Jul 0
152 152 152
0 0 0
-------
------- ------- ------- ------- -------
P.I. =
9 90 Days
1,558K 1,332K 1,133K
138K 8,649 51,962
Reported ------- ------- ------- ------- -------
-------
Transportation Serv:
*Jun 0
295 295 14
281 0 0
Wholesale-Elec Equip:
*Jun 0
20,000 12,480 0
12,480 0 0
Mfr Fabricated Metal:
*May 0
1,979 1,979 731
1,248 0 0
Business Services:
*Jan 0 5,001
2,809 2,809 0
0 0
Services-Computer:
*Jan 0
127K 127K 99,495
28,249 0 0
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------- ------- ------- ------- -------
P.I. =
9 Total 1,714K
1,477K 1,236K 180K
8,649 51,962
Reported ------- ------- ------- ------- -------
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PAYMENT TRENDS
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Payment C.I. Number of Total
Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd 3rd
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3 Qtr/2007
5 4 17
596,917 552,416 20,941
23,436 124
2 Qtr/2007
17 0 18
429,622 345,721 49,267
16,426 18,208
1 Qtr/2007
12 8 15
376,752 308,579 68,049 0 124
4 Qtr/2006
14 12 12
445,436 380,936 29,866
16,550 18,084
3 Qtr/2006
17 12 12
645,800 469,095 117,700
32,939 26,066
2 Qtr/2006
8 11 12
363,895 305,516 49,810
5,049 3,520
1 Qtr/2006
9 15 13
180,686 161,706 13,739
4,954 287
4 Qtr/2005
9 15 11
161,759 137,445 5,613
16,076 2,625
3 Qtr/2005
8 18 13
123,544 104,967 8,286
9,369 922
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 30/04/2007
30/04/2006 30/04/2006
Consolidated Consolidated
Sales / Revenues 200,681
141,199 -
Gross Margin 121,618 86,992
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RESULTS
Income before Taxes 83,811
60,319 -
Income Tax 23,148 20,557
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Net Income 60,663 39,762
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ASSETS
Cash and Equivalents 1,006 - -
Inventory 43,084 22,829
-
Accounts Receivables 35,004 23,531 -
Other Current Assets 2,403 - -
Total Current Assets 115,035 46,360 -
Property Plant & Equip 20,858
11,500 -
Other Fixed Assets 5,637 649 -
Total Fixed Assets 28,961
15,346 -
Intangibles 1,827 2,558
-
Total Assets 143,996
61,706 -
LIABILITIES
Trade Creditors 25,044 25,124
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Current Bank Loans -
20,397 -
Other Current Liab - 1,382 -
Total Current Liab 25,044
47,167 -
Long Term Debt - 4,873
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Deferred Taxation 637
1,687 -
Other Long Term Liab 5,365 - -
Total Long Term Liab 6,002 6,560 -
Total Liabilities 31,046
53,727 -
EQUITY
Retained Earnings 65,658
4,995 -
Total Equity 112,444 7,979
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FINANCIAL ANALYSIS
Actual Previous Percentage of total assets
30/04/2007 30/04/2006 30/04/2007 30/04/2006
Cash and Equivalents 1,006 0
0.70 0.00
Inventory 43,084
22,829 29.92 37.00
Other Current Assets 2,403 0
1.67 0.00
Total Current Assets 115,035 46,360
79.89 75.13
Intangibles 1,827
2,558 1.27 4.15
Total Assets 143,996 61,706 100.00 100.00
Total Current Liab 25,044
47,167 17.39 76.44
Long Term Debt 0
4,873 0.00 7.90
Other Long Term Liab 5,365 0
3.73 0.00
Total Liabilities 31,046
53,727 21.56 87.07
Total Equity 112,444
7,979 78.09 12.93
Mr. Gridley stated that the Firm is the sole subsidiary of the holding
company; Evertz Technologies Limited. Therefore the financials of Evertz
Technologies Limited are actually the financials for the Firm.
CURRENT OPERATIONS
NAICS Code: 33422 Radio and Television Broadcasting and
Wireless Com
SIC Code: 3679
Number of Employees: 410
Business Activity:
The Firm is a designer, manufacturer and marketer of various television
broadcasting equipment.
The Company's products include high definition and standard definition
television equipment, film production and post production equipment and fibre
optics products for the film and broadcast television industry. The Firm is the
direct operation entity for the Public Holding Company; Evertz Technologies
Limited.
The heading address is the Company's headquarters. They locations throughout the world at:
New York City
Regional Sales Office
Phone: +1 201-337-0205
E-mail: newyorksales@evertz.com
Fax: +1 201-337-0205
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Washington D.C.
Regional Sales Office
Phone: +1 703-330-8600
E-mail: dcsales@evertz.com
Fax: +1 703-330-5549
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Los Angeles
Sales Office
212 N. Evergreen St.
Burbank, CA, USA
91505 Phone: +1 818-558-3910
E-mail: LAsales@evertz.com
Fax: +1 818-558-3906
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Western US
Sales Office
Phone: +1 480-419-2855
E-mail: uswestsales@evertz.com
Fax: +1 480-419-2873
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UK Sales Office
59 Suttons Business Park
Reading, UK
RG6 1AZ Phone: +44 (0)118-935-0200
E-mail: uksales@evertz.com
Fax: +44 (0)118-935-0202
--
Asia Pacific Sales Office
Room 601, 6/F
Nan Fung Tower
173 Des Voeux RD Central
Hong Kong
PUBLIC RECORD
Statement
of Claim:
Defendant EVERTZ MICROSYSTEMS LTD. Date Apr 19, 2005
Plaintiff NELIA GROTA Court
General Division
Amount 26,500 Location York University
Reason Employment File #
05CV287972
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NOTE: A nationwide search of
bankruptcy courts shows no bankruptcy filings under the Subject's name.
GENERAL COMMENTS
Evertz Microsystems Ltd. is engaged as a design and manufacturing firm
for the television broadcasting industry.
Their payment history is satisfactory, indicating that they generally
pay their outstanding debts within agreed terms. One claim was found filed
against the Company, but the outcome of the filing could not be
determined. No other derogatory
information was found involving the Firm.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)