MIRA INFORM REPORT

 

 

Report Date :

21.04.2008

 

 

IDENTIFICATION DETAILS

 

Name :

H M RICHARDS

 

 

Registered Office :

P O Box 373 Baldwyn, MS 38824-0373

 

 

Country :

United States

 

 

Date of Incorporation :

12/1997

 

 

Com. Reg. No.:

747473377

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Furniture and Fixtures

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Very Good

 

 

Payment Behaviour :

4 days beyond terms

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 

Company Information

 

 

H M RICHARDS
PO BOX 373
BALDWYN, MS 38824-0373
(662) 365-9485

Business Identification Number:

747473377

File Established:

12/1997

SIC code: 

FURNITURE AND FIXTURES - 2500

 

Executive Summary

 

 

  Intelliscore for H M RICHARDS

 

 

86.48

 

 

0-32.47

32.48-58.63

58.64-70.19

70.2-77.71

77.72-100

0

 

100

 

High risk

Low risk


LOW RISK
99% of businesses indicate a higher risk of becoming seriously delinquent than this business

Key score factors:

NUMBER OF RECENTLY ACTIVE ACCOUNTS

NUMBER OF GOOD ACCOUNTS

NUMBER OF CURRENT ACCOUNTS

SMALL, IF ANY, RATIO OF BAD ACCOUNTS TO TOTAL ACCOUNTS



  Current DBT range compared to all industries*

4 DBT
($33,100 Balance)

 

 

 

 

 

 

0-15

16-50

51+

80%

11%

9%

% of US businesses falling within DBT range

DBT Norms:
All industries: 6 DBT        Same industry: 17 DBT

 

 

 

 

 

 

Legal Filings and Collections

Bankruptcy filings:

0

Tax lien filings:

0

Judgment filings:

0

Total collections: details (PLACED 09/03)

1

Sum of legal filings:

$0

UCC filings:

0

Cautionary UCC filings present?

No



Trade Information

Monthly average DBT:

7

Highest DBT previous 6 months:

11

Highest DBT previous 5 quarters:

11

Total continuous trades:

16

Current continuous trade balance:

$33,100

Trade balance of all trades (21):

$46,500

Average balance previous 5 quarters:

$29,220

Highest credit amount extended: details

$122,100

6 month balance range:

$15,800 - $88,400

* 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.

  7 month DBT trends

 

90+

60

30

 


8

 


7

 


11

 


6

 


6

 


4

 


4

 

0

Oct07

Nov07

Dec07

Jan08

Feb08

Mar08

Current

 

 

  Quarterly DBT trends (previous 5 quarters)

 

90+

60

30

 


0

 


5

 


6

 


9

 


5

 

0

 

1Q07

 

2Q07

 

3Q07

 

4Q07

 

1Q08

 

 

Performance Analysis

 

Predicted DBT for 06/18/2008: 4 DBT

Payment Trend Indication:
Are Improving Toward Term Requirements

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

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

 

Back to top

 

 

Legal Filings and Collections

 

 

  Collections

Date
Placed

Status

Original
Balance

Outstanding
Balance

Date
Closed

Agency

Agency
Phone

09/2003

Open Account

$118

 

$118

 

 

FIDELITY NATIONAL CREDIT SERVI

(800) 648-9341

 

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

+AIR TRANS

03/2008

03/2008

 

 

$4,200

$600

100%

 

 

 

 

CUST 11 YR

 AIR TRANS

03/2008

 

NET 30

 

<$100

$0

 

 

 

 

 

CUST 4 YR

 APPAREL

04/2008

03/2008

NET 30

 

$16,900

$0

 

 

 

 

 

 

 BLDG MATRL

02/2008

02/2008

CREDIT

 

$1,500

$0

 

 

 

 

 

 

 COMPUTERS

04/2008

09/2004

CREDIT

 

 

$0

 

 

 

 

 

 

 FACTOR

02/2008

 

VARIED

 

 

$0

 

 

 

 

 

 

+FACTOR

03/2008

03/2008

NET 60

 

$122,100

$19,800

87%

13%

 

 

 

 

+FINCL SVCS

04/2008

03/2008

CONTRCT

 

$3,200

$600

100%

 

 

 

 

 

=FOOD DISTR

03/2008

03/2008

VARIED

 

$13,500

$10,600

44%

56%

 

 

 

 

 FREIGHT

04/2008

08/2005

VARIED

 

$200

$0

 

 

 

 

 

 

+FREIGHT

03/2008

01/2008

VARIED

 

$2,700

$800

100%

 

 

 

 

 

 INDUS SUPL

04/2008

11/2005

NET 30

 

$2,800

$0

 

 

 

 

 

CUST 3 YR

+MACH DISTR

01/2008

01/2008

1/10N30

 

$2,200

$700

100%

 

 

 

 

CUST 7 YR

 SAFTY PROD

03/2008

 

NET30

 

$100

$0

 

 

 

 

 

CUST 1 YR

 TRANSPORTN

04/2008

01/2008

VARIED

 

$600

$0

 

 

 

 

 

 

 TRANSPORTN

04/2008

 

NET 30

 

 

$0

 

 

 

 

 

PROMPT

 

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

16

 

 

$170,100

$33,100

74%

26%

 

 

 

DBT: 4

Newly Reported

0

 

 

 

 

 

 

 

 

 

DBT:  

Trade Lines Totals

16

 

 

$170,100

$33,100

74%

26%

 

 

 

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

+ACCT SVCS

06/2007

01/2007

VARIED

 

$90,300

$12,400

100%

 

 

 

 

 

+DP SERVCS

04/2005

03/2005

NET 30

 

$300

$300

100%

 

 

 

 

 

 FACTOR

05/2005

06/2003

VARIED

 

 

$0

 

 

 

 

 

 

 FACTOR

08/2007

12/2005

VARIED

 

$18,900

$0

 

 

 

 

 

 

+OFFC SUPPL

11/2005

09/2005

CREDIT

 

$700

$700

100%

 

 

 

 

CUST 8 YR

 

Monthly Payment Trends

 

 

Payment Trends Analysis
FURNITURE AND FIXTURES INDUSTRY SIC: 2500

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

$33,100

 

74%

26%

 

 

 

MAR08

72%

17

4

$33,600

 

75%

25%

 

 

 

FEB08

74%

17

6

$74,200

 

61%

39%

 

 

 

JAN08

73%

17

6

$46,400

 

63%

37%

 

 

 

DEC07

84%

5

11

$88,400

 

26%

74%

 

 

 

NOV07

85%

5

7

$74,200

 

51%

49%

 

 

 

OCT07

86%

5

8

$15,800

 

46%

54%

 

 

 

 

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

$51,200

 

65%

35%

 

 

 

Q4 - 07

OCT-DEC

9

$59,500

 

38%

62%

 

 

 

Q3 - 07

JUL-SEP

6

$13,200

 

61%

39%

 

 

 

Q2 - 07

APR-JUN

5

$12,900

 

64%

36%

 

 

 

Q1 - 07

JAN-MAR

0

$9,300

 

98%

2%

 

 

 

 

Company Background Information

 

 

  Additional Company Background Information

 

Key Personnel

Principal(s): 

BILL QUIRK, CEO

 

H M. RICHARDS, PRESIDENT

 

DERALD MCCALEB


Operating Information

Primary SIC Code: FURNITURE AND FIXTURES - 2500

Secondary SIC Code: UPHOLSTERED HOUSEHOLD FURNITURE - 2512

Additional SIC Code: 2511 - 5712


Number of Employees: 600

Sales: $60,000,000

 

 

 

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