MIRA INFORM REPORT

 

 

Report Date :

23.06.2012

 

IDENTIFICATION DETAILS

 

Name :

IXIA TECHNOLOGIES INTERNATIONAL LIMITED

 

 

Registered Office :

10 Lad Lane, Lower Baggot Street, Dublin , 2

 

 

Country :

Ireland

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

07.12.1999

 

 

Com. Reg. No.:

E0316514

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

The design, development, marketing, sale and support of advanced software based test systems and integrated suites of testing applications for the telecommunications industry

 

 

No. of Employees :

05

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Ireland

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address  

 

Ixia Technologies International Limited

10 Lad Lane

Lower Baggot Street

Dublin , 2

Ireland

 

 

Synthesis

 

Employees:                   5

Company Type:            Private Subsidiary

Incorporation Date:         07-Dec-1999

Auditor:                        McInerney Saunders     

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       US Dollar

Annual Sales:               107.4

Total Assets:                 73.5

 

 

Business Description     

 

The design, development, marketing, sale and support of advanced software based test systems and integrated suites of testing applications for the telecommunications industry.

 

Industry             

Industry            Software and Programming

ANZSIC 2006:    5420 - Software Publishing

NACE 2002:      722 - Software consultancy and supply

NAICS 2002:     511210 - Software Publishers

UK SIC 2003:    722 - Software consultancy and supply

US SIC 1987:    7372 - Prepackaged Software

 

           

Key Executives   

  

Name

Title

Ron Buckly

Secretary, Director

David Denton

Secretary

Raymond De Graaf

Director

Thomas Bradford Miller

Director

Michael Sargent

Director

 

 Registered No.(IRE): E0316514

 

1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1

2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1

 

 

Corporate Overview

Location

10 Lad Lane

Lower Baggot Street

Dublin , 2

Ireland

           

Sales USD(mil):             107.4

Assets USD(mil):           73.5

Employees:                   5

Fiscal Year End:            31-Dec-2010

Industry:                        Software and Programming

Incorporation Date:         07-Dec-1999

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(IRE):      E0316514

Secretary, Director:        Ron Buckly

 

Contents

Industry Codes

Business Description

Financial Data

Subsidiaries

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

5420     -          Software Publishing

 

NACE 2002 Codes:

722       -          Software consultancy and supply

 

NAICS 2002 Codes:

511210  -          Software Publishers

 

US SIC 1987:

7372     -          Prepackaged Software

 

UK SIC 2003:

722       -          Software consultancy and supply

 

Business Description

The design, development, marketing, sale and support of advanced software based test systems and integrated suites of testing applications for the telecommunications industry.

 

Financial Data

Financials in:

USD(mil)

 

Revenue:

107.4

Assets:

73.5

Total Liabilities:

66.2

 

Working Capital:

13.3

 

Net Worth:

-14.7

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

NA

NA

Subsidiaries

Company

Percentage Owned

Country

Ixia Technologies Europe Limited

 

 

 

 

 

Key Corporate Relationships

Auditor:

McInerney Saunders

 

Auditor:

McInerney Saunders

 

 

 

 

 

 

 

 

 

Executive report

 

 

Board of Directors

 

Name

Title

Function

 

Ron Buckly

 

Secretary, Director

Director/Board Member

 

Raymond De Graaf

 

Director

Director/Board Member

 

Thomas Bradford Miller

 

Director

Director/Board Member

 

Michael Sargent

 

Director

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Ron Buckly

 

Secretary, Director

Company Secretary

 

David Denton

 

Secretary

Company Secretary

 

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

30-Sep-2008

30-Sep-2007

Period Length

52 Weeks

65 Weeks

52 Weeks

52 Weeks

Filed Currency

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

Consolidated

No

No

No

No

 

 

 

 

 

Turnover

107.4

42.5

30.0

29.6

Cost of Sales

22.0

19.0

13.2

13.8

Gross Profit

85.4

23.5

16.9

15.8

Operating Profit

-0.2

-3.0

-3.7

-2.6

Non Trading Income

1.5

-0.7

0.1

0.2

Interest Expenses

0.7

0.1

-

0.0

Pretax Profit

0.6

-3.8

-3.6

-2.4

Taxation

0.9

0.3

0.0

0.2

Profit after Tax

-0.4

-4.1

-3.6

-2.6

Retained Profits

-0.4

-4.1

-3.6

-2.6

Value Added

0.2

-2.9

-2.5

-0.5

Exports

107.4

42.5

30.0

29.6

Wages And Salaries

0.3

0.1

1.0

1.9

Directors’ Emoluments

0.0

0.0

0.0

0.0

Auditors Fees

0.0

0.0

0.0

0.0

Depreciation

0.0

-

0.0

0.0

Number of Employees

5

4

13

24

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

30-Sep-2008

30-Sep-2007

Filed Currency

USD

USD

USD

USD

Exchange Rate

1

1

1

1

Consolidated

No

No

No

No

 

 

 

 

 

Tangible Assets

0.5

1.0

1.7

1.7

Intangible Assets

22.1

31.2

8.9

9.5

Total Fixed Assets

22.6

32.2

10.6

11.2

Stocks

4.2

3.5

1.7

1.8

Trade Debtors

37.5

8.7

3.6

5.1

Cash

9.1

0.8

3.0

3.8

Miscellaneous Current Assets

0.1

1.2

2.6

2.4

Other Current Assets

9.2

2.1

5.7

6.2

Total Current Assets

50.9

14.3

11.0

13.1

Total Assets

73.5

46.5

21.6

24.3

Net assets

35.9

36.9

11.9

15.8

Total Current Liabilities

37.6

9.6

9.7

8.5

Total Debt

39.0

27.1

3.4

4.0

Total Long Term Liabilities

28.6

29.2

0.1

0.5

Total Liabilities

66.2

38.8

9.8

9.1

Share Capital And Other Reserves

-

-

0.4

0.4

Profit & Loss Account Reserve

7.3

7.7

11.3

14.9

Shareholders Funds

7.3

7.7

11.8

15.3

Capital Employed

35.9

36.9

11.9

15.8

Net Worth

-14.7

-23.5

2.9

5.8

Working Capital

13.3

4.6

1.3

4.6

Contingent Liability

-

12,461.0

12.5

-

Fixed Assets

0.0

-

-

0.0

Intermediate Assets

0.5

1.0

1.7

1.7

Liquid Assets

46.7

10.7

9.3

11.3

Trade Creditors

4.6

1.0

1.2

0.1

Miscellaneous Current Liabilities

33.0

8.6

8.5

8.4

    Other Short Term Finance

13.1

1.3

3.4

4.0

Other Current Liabilities

19.8

7.3

5.1

4.4

Short Term Loans

13.1

1.3

3.4

4.0

    Long Term Loans

25.9

25.9

-

-

Other Long Term Finance

25.9

25.9

-

-

Other Long Term Liabilities

2.7

3.3

0.1

0.5

Sundry Reserves (incl. Grants)

-

-

0.4

0.4

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

30-Sep-2008

30-Sep-2007

Period Length

52 Weeks

65 Weeks

52 Weeks

52 Weeks

Filed Currency

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

Consolidated

No

No

No

No

 

 

 

 

 

Net Cash

9.1

0.8

3.0

3.8

 

 

Annual Ratios

 

 

 

 

30-Sep-2007

Period Length

52 Weeks

Filed Currency

-

Exchange Rate

-

Consolidated

No

 

 

Current Ratio

2.37

Liquidity Ratio

2.04

Stock Turnover

16.16

Net Worth / Total Liabilities

144.25%

Long Term Liab. / Net Worth

0.06

Pretax Profit / Capital Employed

-9.48%

Pretax Profit / Total Assets

-7.34%

Pretax Profit / Turnover

-6.00%

Debtors Days

62.77

Creditors Days

1.41

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.99

UK Pound

1

Rs.88.97

Euro

1

Rs.71.57

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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

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

----

NB

New Business

----

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.