MIRA INFORM REPORT

Report Date :

09.04.2008

IDENTIFICATION DETAILS

Name :	GSI GROUP INC DE
Registered Office :	1004 E Illinois St Assumption, IL 62510-9529
Country :	United States
Financials (as on) :	31.12.2006
Date of Incorporation :	10.14.1997
Com. Reg. No.:	771276226
Legal Form :	Private Limited Company
Line of Business :	Farm Machinery and Equipment

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Slow by 4 days
Litigation :	Clear

Company Information

GSI GROUP INC DE
1004 E ILLINOIS ST
ASSUMPTION, IL 62510-9529
(217) 226-4421

Business Identification Number:

771276226

File Established:

10/1990

Date of Incorporation:

10/14/1997

SIC code:

FARM MACHINERY & EQUIPMENT - 3523

Matching Name and Address

This business is linked to the one displayed above. The report shows the best view of the business.

G S I GROUP
P. O. BOX 20
ASSUMPTION, IL 62510-0020

Executive Summary

  Intelliscore for GSI GROUP INC DE

43.92

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

100

High risk

Low risk

MEDIUM TO HIGH RISK
26% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

	NUMBER OF DEROGATORY PUBLIC RECORD ACCOUNTS
	BALANCE ON DELINQUENT ACCOUNTS
	NUMBER OF DELINQUENT ACCOUNTS
	NUMBER OF OTHER TRADES

  Current DBT range compared to all industries*

4 DBT
($380,000 Balance)

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 7 DBT

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections:

0

Sum of legal filings:

$0

UCC filings: details (FILED 04/03-08/07)

24

Cautionary UCC filings present?

Yes**

Trade Information

Monthly average DBT:

4

Highest DBT previous 6 months:

10

Highest DBT previous 5 quarters:

10

Total continuous trades:

15

Current continuous trade balance:

$380,000

Trade balance of all trades (28):

$410,800

Average balance previous 5 quarters:

$113,680

Highest credit amount extended: details

$363,300

6 month balance range:

$20,100 - $381,500

* Days Beyond Terms (DBT) is a dollar weighted calculation of the average number of days that payment was made beyond the invoice due date based on trades on file that have been updated in the previous 3 months.

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

  7 month DBT trends

90+

60

30

0

1

7

6

10

4

4

0

Sep07

Oct07

Nov07

Dec07

Jan08

Feb08

Current

  Quarterly DBT trends (previous 5 quarters)

90+

60

30

0

1

1

5

5

0

1Q07

2Q07

3Q07

4Q07

1Q08

Performance Analysis

Predicted DBT for 06/04/2008: 4 DBT

Payment Trend Indication:
Show No Identifiable Trend

Industry payment comparison:
Has paid sooner than 50% of similar firms

Most Frequent Industry Purchasing Terms:
NET 30, CREDIT, and CONTRCT

Trade Payment Information

Trade Payment Experiences (Trade Lines With an (*) after date are newly reported)						Account Status Days Beyond Terms
Business Category	Date Reported	Last Sale	Payment Terms	Recent High Credit	Balance	Cur	1-30	31-60	61-90	91+	Comments
ADVERTISNG	03/2008		NET 30		$0						CUST 5 YR
AGRICULTR	03/2008	05/2003			$0						CUST 8 YR
AIR TRANS	01/2008		NET 30	$100	$0						CUST 6 YR
COMPUTERS	03/2008		CREDIT		$0
ELEC EQUIP	03/2008	04/2003	NET 30	$200	$0						CUST 9 YR
FACTOR	02/2008		NET 30	$13,500	$0						CUST 8 YR
+FINCL SVCS	02/2008	02/2008	CONTRCT	$23,600	$12,300	100%					SATSFTRY
FINCL SVCS	03/2008		CONTRCT		$0
+INDUS SUPL	03/2008		COD	$100	<$100	100%					CUST 2 YR
=IRON&STEEL	03/2008		NET 30	$363,300	$363,300	72%	28%
=PACKAGING	03/2008		NET 30	$5,000	$4,300	63%	37%				CUST 12 YR
PERSNLSVCS	01/2008	12/2006	NET 10		$0
PIPE	03/2008		NET 30		$0
RUBBER	03/2008	01/2008	NET 30	$6,800	$0
TELECOM	03/2008		NET 30	$1,800	$0

Trade Payment Totals

Trade Payment Experiences				Account Status Days Beyond Terms
Type	Lines Reported	Recent High Credit	Balance	Cur	1-30	31-60	61-90	91+	Comments
Continuously Reported	15	$414,400	$380,000	73%	27%				DBT: 4
Newly Reported	0								DBT:
Trade Lines Totals	15	$414,400	$380,000	73%	27%				DBT: 4

Additional Payment Experiences

Trade Payment Experiences (Trade Lines With an (*) after date are newly reported)						Account Status Days Beyond Terms
Business Category	Date Reported	Last Sale	Payment Terms	Recent High Credit	Balance	Cur	1-30	31-60	61-90	91+	Comments
-ADVERTISNG	05/2006		VARIED	$11,700	$4,800	3%		38%	59%
COMMUN SVC	08/2006		NET 20		$0
ELEC SUPLR	04/2005		VARIED		$0
FACTOR	11/2005	06/2001	VARIED		$0
FASTNR MFG	09/2005		COD		$0
HEARING	04/2007	02/2007		$700	$0						CUST 1 YR
+INDUS MACH	05/2005		NET 30	$500	$500	100%
LEASING	09/2007		CONTRCT	$300	$0
MACH DISTR	07/2007	08/2000	1/10N30		$0						CUST 7 YR
MACHINERY	09/2006				$0
=MANUFCTRNG	12/2006	11/2006	VARIED	$96,900	$25,000	38%	62%				CUST 5 YR
METAL DIST	09/2007	08/2007	VARIED	$39,300	$0						CUST 10 YR
+OFFC SUPPL	03/2006	02/2006	NET 30	$500	$500	100%					CUST 5 YR

Monthly Payment Trends

Payment Trends Analysis
FARM MACHINERY & EQUIPMENT INDUSTRY SIC: 3523

Account Status
Days Beyond Terms

Date Reported

Industry

Cur

DBT

Business
DBT

Balance

Cur

1-30

31-60

61-90

91+

CURRENT

N/A

N/A

4

$380,000

73%

27%

FEB08

74%

7

4

$378,100

73%

27%

JAN08

74%

6

10

$241,900

44%

50%

6%

DEC07

68%

13

6

$232,600

61%

39%

NOV07

71%

12

7

$189,400

58%

41%

1%

OCT07

71%

18

1

$94,300

98%

1%

1%

SEP07

68%

18

0

$20,100

97%

3%

Quarterly Payment Trends

Payment History - Quarterly Averages				Account Status Days Beyond Terms
Quarter	Months	DBT	Balance	Cur	1-30	31-60	61-90	91+
Q1 - 08	JAN-MAR	5	$333,300	66%	33%	1%
Q4 - 07	OCT-DEC	5	$172,100	67%	33%
Q3 - 07	JUL-SEP	1	$20,900	96%	4%
Q2 - 07	APR-JUN	1	$20,900	95%	5%
Q1 - 07	JAN-MAR	0	$21,200	100%

Inquiries

Summary of Inquiries
Business Category	APR08	MAR08	FEB08	JAN08	DEC07	NOV07	OCT07	SEP07	AUG07
FURNTR&FIX							1
HOTEL				1
WALL COVR					1
Totals				2	1		1

UCC Profile

The number of UCC Filings is summarized with the 10 most recent listed below.

A full UCC detail report is available the same business day by entering UCC-771276226-C033397666
into the Business ID Number field on the BizApps order page.

UCC Summary		Filings
Date Range	Year	Cautionary UCCs^**	Total Filed	Released/ Term'd	Cont	Amended/ Assigned
JAN - PRESENT	2008
JUL - DEC	2007	2	3
JAN - JUN	2007	3	3			1
JUL - DEC	2006
JAN - JUN	2006		1
PRIOR TO JAN	2006	12	17	2	1	2
Total		17	24	2	1	3

** Cautionary UCC Filings include one or more of the following collateral: Accounts, Accounts Receivables, Contract Rights, Hereafter Acquired Property, Inventory, Leases, Notes Receivable or Proceeds.

  UCC Filings

UCC FILED Date: 08/21/2007

Filing Number: 012414633

Jurisdiction: ILLINOIS SECRETARY O

Secured Party: ILMO PRODUCTS CO IL JACKSONVILLE 62651 PO BOX 790

Collateral: EQUIP

UCC FILED Date: 08/01/2007

Filing Number: 2007 2924990

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: UBS AG, STAMFORD BRANCH, AS COLLATERAL A CT STAMFORD 06901 6

Collateral: HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 08/01/2007

Filing Number: 2007 2925328

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: UBS AG, STAMFORD BRANCH, AS COLLATERAL A CT STAMFORD 06901 6

Collateral: HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 03/30/2007

Filing Number: 2007 1199586

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: MC MACHINERY SYSTEMS, INC. IL WOOD DALE 60191 1500 MICHAEL D

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

UCC AMENDED Date: 03/30/2007

Filing Number: 2007 1204048

Original Filing Date: 03/30/2007

Original Filing Number: 2007 02968

Original Filing State: DE

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: FINN-POWER INTERNATIONAL INC.

Collateral: ACCTS REC, EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 02/08/2007

Filing Number: 2007 0509264

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: FINN-POWER INTERNATIONAL INC. IL SCHAUMBURG 60173 710 REMING

Collateral: ACCTS REC, EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 01/22/2007

Filing Number: 011736270

Jurisdiction: ILLINOIS SECRETARY O

Secured Party: CANON FINANCIAL SERVICES NJ MT LAUREL 08054 158 GAITHER DRIV

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 04/08/2006

Filing Number: 6118259 1

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: CNH CAPITAL AMERICA LLC PA NEW HOLLAND 17557 100 BRUBAKER AV

Collateral: EQUIP

UCC FILED Date: 05/20/2005

Filing Number: 5156218 1

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: GENERAL ELECTRIC CAPITAL CORPORATION IL OAK BROOK 60523 1415

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

UCC FILED Date: 05/20/2005

Filing Number: 5156219 9

Jurisdiction: SEC OF STATE DELAWAR

Secured Party: GENERAL ELECTRIC CAPITAL CORPORATION IL OAK BROOK 60523 1415

Collateral: EQUIP, HEREAFTER AQUIRED PROP, UNDEFINED

Commercial Finance Relationships

  Leasing Relationships

Leasing Company: FORD MOTOR CREDIT COMPANY

Address: DEARBORN, MI 48121- 0

Origination Date: 06/2002

Original Lease Amount: $44,672

Lease Product Type: AUTOMOTIVE

Lease Term: 48 Months

Payment Interval: 12/YEAR

Payment Type: VARIABLE

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $182

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 05/2007

Original Lease Amount: $9,839

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $7,106

Current Payments: 9

Late Payments: 1

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $12,966

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $7,563

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $12,966

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $7,563

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $10,119

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $5,902

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $8,612

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $5,023

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $8,612

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $5,023

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $8,612

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $5,023

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $6,167

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $3,597

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $8,612

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $5,023

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $8,612

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $5,023

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $8,026

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $4,681

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $6,167

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $3,597

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $6,167

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $3,597

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $6,167

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $3,597

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $8,612

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $5,023

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $13,446

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $7,843

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $12,007

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $7,004

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $10,524

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $6,139

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $3,674

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $2,143

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $3,674

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $2,143

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $3,674

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $2,143

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $3,935

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $2,295

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $3,674

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $2,143

Current Payments: 15

Late Payments: 0

Leasing Company: CANON FINANCIAL SERVICES

Address: BURLINGTON, NJ 08016- 0

Phone: (800) 220-0200

Origination Date: 12/2006

Original Lease Amount: $3,674

Lease Product Type: EQUIPMENT

Lease Term: 36 Months

Current Scheduled Amount Due: $0

Amount of Overdue Payments: $0

Remaining Balance: $2,143

Current Payments: 15

Late Payments: 0

Company Background Information

  Corporate Registration

THE FOLLOWING INFORMATION WAS PROVIDED BY THE STATE OF INDIANA

State of Origin: IN

Date of Incorporation: 10/14/1997

Current Status: Active

Business Type: Institutions - Non-Profit

Charter Number: 1997100739

Agent: CORPORATION SERVICE COMPANY

Agent Address: 251 E OHIO ST INDIANAPOLIS, IN

  Additional Company Background Information

Operating Information

Business Type: Institutions

Primary SIC Code: FARM MACHINERY & EQUIPMENT - 3523

Secondary SIC Code: GRAIN WHOLESALING - 5153

Additional SIC Code: 1500

Standard and Poor's Information

Balance sheet for fiscal year ending: DEC 31 Data current through: 03/20/2007 ($ Thousands)
		2006	2005	2004
	Cash and equivalent	0	2,522	2,304
	Receivables - net	0	35,801	24,656
	Inventory	0	46,746	48,653
	Other current assets	0	12,270	6,905
	Total current assets	0	97,339	82,518
	Fixed assets - net	0	33,933	32,548
	Investments	0	0	0
	Other assets	0	96,376	15,611
	Total assets	0	227,648	130,677
	Debt due in 1 year	0	876	167
	Notes payable	0	0	5,000
	Accounts payable	0	20,989	16,629
	Taxes payable	0	0	0
	Other current liabilities	0	23,984	20,387
	Total current liabilities	0	45,849	42,183
	Long term debt	0	119,306	133,963
	Other liabilities	0	2,654	1,366
	Net worth	0	59,839	-46,835
	Total liab. and net worth	0	227,648	130,677

Operating statement for fiscal year ending: DEC 31 Data current through: 03/20/2007 ($ Thousands)
		2006	2005	2004
	Net sales	0	344,144	288,131
	Cost of goods sold	0	258,578	219,373
	Gross income on sales	0	85,566	68,758
	Expenses	0	82,102	64,108
	Pre-tax income	0	3,108	4,466
	Taxes	0	319	499
	After tax income	0	2,789	3,967
	Extraord. inc. & discont'd ops	0	0	25
	Net income	0	2,789	3,992

Critical data and ratios for fiscal year ending: DEC 31 Data current through: 03/20/2007 ($ Thousands)
		2006	2005	2004
	Tangible net worth	0	-31,007	-58,593
	Net working capital	0	51,490	40,335
	Current ratio (times)	2.1	1.9	0.0
	% Total debt to tang. n.w.	0.0	0.0	0.0
	% Current debt to tang. n.w.	0.0	0.0	0.0
	% After tax inc. to tang. n.w.	0.0	0.0	0.0
	% After tax inc. to net sales	0.8	1.3	0.0
	Net sales to inventory (times)	7.3	5.9	0.0
	CGS to inventory (times)	65.9	80.9	0.0
	Avg. days sales outstanding (days)	0.0	0.0	0.0

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions