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MIRA INFORM REPORT
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Report No. : |
503068 |
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Report Date : |
12.04.2018 |
IDENTIFICATION DETAILS
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Name : |
PERCIVAL SCIENTIFIC INCORPORATED |
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Registered Office : |
Iowa Registered Agents, Inc. 400 Locust St., Ste 400,Des
Moines, Ia, 50309, |
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Country : |
United States |
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Financials (as on) : |
2016 |
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Date of Incorporation : |
1886 |
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Legal Form : |
Domestic Profit |
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Line of Business : |
Subject engages in the engineering, design, fabrication,
and construction of environmental growth chambers |
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No. of Employees : |
70 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $59,500. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for more than 50% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and former President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through FY 2018, the direct costs of the wars will have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection and Affordable Care Act (ACA), a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the former president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. The Fed ended its purchases during the summer of 2014, after the unemployment rate dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of GDP. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With continued low growth, the Fed opted to raise rates several times since then, and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the Tax Cuts and Jobs Act, which, among its various provisions, reduces the corporate tax rate from 35% to 21%; lowers the individual tax rate for those with the highest incomes from 39.6% to 37%, and by lesser percentages for those at lower income levels; changes many deductions and credits used to calculate taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do not obtain the minimum amount of health insurance required under the ACA. The new taxes took effect on 1 January 2018; the tax cut for corporations are permanent, but those for individuals are scheduled to expire after 2025. The Joint Committee on Taxation (JCT) under the Congressional Budget Office estimates that the new law will reduce tax revenues and increase the federal deficit by about $1.45 trillion over the 2018-2027 period. This amount would decline if economic growth were to exceed the JCT’s estimate.
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Source
: CIA |
STATUTORY
INFORMATION
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Order:
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PERCIVAL SCIENTIFIC INS Dear Sirs, in the order the last word INS would correspond
to the company’s legal form, whose correct abbreviation is INC
(INCORPORATED). |
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Address
in the order: |
505 RESEARCH DRIVE, PERRY IA 50220 USA |
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Legal
Name: |
PERCIVAL SCIENTIFIC INCORPORATED |
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Trade
Name: |
PERCIVAL SCIENTIFIC, INC. |
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ID: |
313409 |
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Date
Created: |
1886 |
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Date
Incorporated: |
6/28/2005 |
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Legal
Address: |
IOWA REGISTERED AGENTS, INC. 400 LOCUST ST., STE 400 DES MOINES, IA, 50309, USA |
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Operative
Address: |
505 Research Drive |
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Telephone:
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515-465-9363 |
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Fax: |
515-465-9464 |
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Legal
Form: |
DOMESTIC PROFIT |
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Email: |
info@percival-scientific.com |
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Registered
in: |
IOWA, USA |
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Website:
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www.percival-scientific.com |
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Contact: |
GARY WHEELOCK, President |
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Staff:
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70 Employees |
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Activity: |
SIC Code: 3821, Laboratory
Apparatus and Furniture |
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BANKS: |
FIRST AMERICAN BANK |
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The company does not make its
banking data public |
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HISTORY: |
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The company was founded in 1886 and is based in Perry,
Iowa. It was incorporated in Iowa in 2005.
It has locations in Australia, India, China, Germany, Singapore,
Argentina, and Mexico, as well as Ontario, the United States. |
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PRINCIPAL
ACTIVITY
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Percival Scientific Incorporated engages in the
engineering, design, fabrication, and construction of environmental growth
chambers. |
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Products/Services
description: |
It offers Arabidopsis, dew formation, drosophila, low
temperature, and plant tissue culture chambers; biological incubators for
various applications ranging from bacterial culturing to plant seedling and
insect rearing to B.O.D. determinations; and seed germination chambers for
seed germination and development, as well as environmental control rooms,
lighting options, and parts and service. The company also provides Constant
Temperature Defrost system, which allows the chamber to operate at a low
temperature under lighting without temperature defrost spikes; Intellus Ultra
Controller that allows controlling temperature, humidity, CO2, and lighting;
Intellus Web Server, which enables to program and monitor growth chamber from
desk, laptop, or phone; and WeatherEze, a chamber control software that
allows chamber to have real-time duplication of the temperature, relative
humidity, and solar lighting. Its products are used for research
applications, such as lighting for vascular plants to facilitate standard
plant production, as well as plant pathology research. |
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Brands: |
Names Legal Active No PERCIVAL SCIENTIFIC INCORPORATED Fictitious name Active No PERCIVAL SCIENTIFIC, INC. |
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Sales
are: |
Wholesale |
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Clients: |
The company serves universities, colleges, government institutions,
and businesses in the United States and internationally. Universidad De Los Andes AG ENGINEERING,S.A. DE C.V. Centro De Investigacion De La Cana De Azucar De Colombia |
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Suppliers: |
Scimericas SA De Cv |
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Operations
area: |
National and International |
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The
company imports from |
Mexico |
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The
company exports to |
Colombia, Mexico |
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The
subject employs |
70 Employees |
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Payments:
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Regular |
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LOCATION
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Headquarters
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505 RESEARCH DRIVE, PERRY, IA, 50220 |
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Comments: |
NA |
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Branches: |
The company has no branches |
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Main
Competitors |
NA |
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Related
Companies: |
It has locations in Australia, India, China, Germany,
Singapore, Argentina, and Mexico, as well as Ontario, the United States. |
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed
at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a private company. We could not confirm major
holders. |
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Management:
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GARY WHEELOCK, President, CEO PAUL S. SPERRY, Treasurer Henry Imberti, Senior Vice President of Engineering Cris Hulse, Vice President of Manufacturing Mitch Yates, C.P.M. Vice President of Purchasing Joni Campidilli, Vice President of Sales & Marketing Karl Lundy, Vice President Sales |
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FINANCIAL
INFORMATION
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The
company does not make its financial statements public. The following
information has been provided by private sources: |
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USD
2016 |
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Sales
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19 110 000 |
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Cash
flow |
Normal |
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LEGAL
FILINGS
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Trademarks: |
ENVIRONET |
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Lawsuits: |
ANTHONY R. STUHLDRYER, Plaintiff-Appell
ant/Cross-Appellee, vs. PERCIVAL SCIENTIFIC, INC.,
Defendant-Appellee/Cross-Appellant. Date: May 9, 2007 Docket Number: 7-186/05-2120 |
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UCC: |
Debtor PERCIVAL SCIENTIFIC INCORPORATED 505 RESEARCH DRIVE , PERRY,
IA, 50220 2725 GALVIN COURT, ELGIN, IL, 60124 E16064044-6 FINANCING STATEMENT 10/6/2016 11:30 AM Debtor PERCIVAL SCIENTIFIC, INCORPORATED 505 RESEARCH DRIVE PERRY
IA 50220 505 RESEARCH DRIVE PERRY
IA 50220 12333 UNIVERSITY AVE, CLIVE, IA, 50325 P514703 FINANCING STATEMENT 8/5/2005 4:30 PM Debtor PERCIVAL SCIENTIFIC, INCORPORATED 505 RESEARCH DRIVE PERRY
IA 50220 505 RESEARCH DRIVE PERRY
IA 50220 12333 UNIVERSITY AVE CLIVE
IA 50325 P514703 FINANCING STATEMENT 8/5/2005 4:30 PM Debtor PERCIVAL SCIENTIFIC
INCORPORATED 505 RESEARCH DRIVE PERRY
IA 50220 P.O. BOX 71156 CLIVE
IA 50325 P517132 FINANCING STATEMENT 9/6/2005 4:30 PM X10016737-3 CONTINUATION 7/7/2010 8:47 AM |
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A14313409 1/28/2014 1/28/2014 BIENNIAL REPORT W01011630 10/7/2015 10/7/2015 ADOPTION OF FICTITIOUS NAME A16313409 2/26/2016 2/26/2016 BIENNIAL REPORT W01039280 3/21/2016 3/21/2016 AGENT'S CHANGE OF OFFICE A18313409 2/22/2018 2/22/2018 BIENNIAL REPORT |
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OFAC Sanctions
List Search: |
The company is not listed in the OFAC list. |
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SUMMARY
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Percival Scientific Incorporation is a mid-sized
organization engaged in the engineering, design, fabrication, and
construction of environmental growth chambers. Our show it was established in 1886 and incorporated in IA
in 2005. It employs 70 Employees and has an annual revenue of MIL USD 19.11. It mainly imports from Mexico and exports to Colombia and
Mexico. It is ACTIVE in IOWA, USA; with no negative records. |
RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH
FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW
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NAME |
NA |
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POSITION |
Operator |
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COMMENTS |
She confirmed name, legal name, email, website and Gary
Wheelock as being the president of the company. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.13 |
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1 |
INR 92.51 |
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Euro |
1 |
INR 80.59 |
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USD |
1 |
INR |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VAR |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.