MIRA
INFORM REPORT
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Report Date : |
23.10.2007 |
IDENTIFICATION DETAILS
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Name : |
EVERTZ
MICROSYSTEMS LTD. |
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Registered Office : |
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Country : |
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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:
City:
State/Province:
Zip Code: L7L
5Z9
Country:
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
Legal Name: Evertz
Microsystems Ltd.
ID Number: 001703467
Status: Active
Jurisdiction:
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
Telephone: 905 335-3700
STOCK QUOTE
Ticker: ET
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. -
Quartz Electronics
Limited -
BANKS
Bank of
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
*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 ------- ------- ------- ------- -------
-------
PAYMENT TRENDS
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Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
------------------------------------------------------------------------------
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 -
RESULTS
Income before Taxes 83,811 60,319 -
Income Tax 23,148 20,557 -
Net Income 60,663 39,762 -
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 -
Current Bank Loans - 20,397 -
Other Current Liab - 1,382 -
Total Current Liab 25,044 47,167 -
Long Term Debt - 4,873 -
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 -
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:
Regional Sales
Office
Phone: +1
201-337-0205
E-mail:
newyorksales@evertz.com
Fax: +1 201-337-0205
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Regional Sales
Office
Phone: +1
703-330-8600
E-mail:
dcsales@evertz.com
Fax: +1 703-330-5549
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Sales Office
91505 Phone: +1
818-558-3910
E-mail:
LAsales@evertz.com
Fax: +1 818-558-3906
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Sales Office
Phone: +1
480-419-2855
E-mail:
uswestsales@evertz.com
Fax: +1 480-419-2873
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59 Suttons Business
Park
RG6 1AZ Phone: +44
(0)118-935-0200
E-mail:
uksales@evertz.com
Fax: +44
(0)118-935-0202
--
Room 601, 6/F
PUBLIC RECORD
Statement
of Claim:
Defendant EVERTZ MICROSYSTEMS LTD. Date Apr 19, 2005
Plaintiff
Amount 26,500
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%)