PROFILE TECHNOLOGIES INC modeFinance Edificio A AREA Science Park, Padriciano 99 34149 Trieste ITALY Tel: +39 040 3755337 Fax: +39 040 3756741 mail: info@modefinance.com web: www.modefinance.com
Company name Identification number Country ZIP code and city Address Phone Web site Email Legal form Account Incorporation date NACE 2 Sector Listed Status mF Credit limit
PROFILE TECHNOLOGIES INC US911418002 United States of America 11030 - MANHASSET Suite 201 +1 516 365 1909 www.profiletech.net info@profiletech.net Not available Consolidated 1986 2899 - Manufacture of other special - purpose machinery nec Listed Active Not eligible for credit on the base of the available informations
Creditworthiness scale Extremely strong(AAA)
C
Fundamental Credit Rating:
30/06/2010
30/06/2009
30/06/2008
133
33
19
Turnover (the)
Very strong(AA) Good(A) Adequate(BBB) Sufficient(BB) Weak(B) High danger(CCC)
Rating Probability of default Confidence Level
C 57.00% 100%
D 100.00% 100%
D 100.00% 100%
Leverage ratio
-1.52
-1.33
-1.36
Total asset/Total liabilties
0.34
0.25
0.27
Current ratio
0.33
0.24
0.26
Quick ratio
0.32
0.24
0.26
Solvency ratios
Pathological(CC) Extremely pathological(C) Non return(D) Not available
Liquidity ratios
Profitability and economic equilibrium ratios Return on investement ROI (%)
-464.88
-639.01
-508.88
Return on equity ROE (%)
-243.18
-212.96
-188.42
Asset turnover
0.36
0.15
0.09
Interest paid weight
-0.01
-0.01
-0.02
Gross Profit/Operating revenue
0.17
0.24
-0.42
-144.50
-67.67
-64.88
Interest Coverage ratios EBIT interest coverage ratio
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Area Science Park, Padriciano 99 34149 Trieste, Italy Tel: +39 040 3755337 Fax: +39 040 3756741
Sector Analysis Company
Healthy
Balanced
Vulnerable
Risky
Leverage ratio Total asset/Total liabilties
-1.52 0.34
0.55 2.83
1.67 1.60
2.56 1.36
-1.70 0.98
Current ratio Quick ratio
0.33 0.32
2.30 1.88
1.57 1.18
1.30 0.90
0.80 0.55
-464.88 -243.18 0.36 -0.01 0.17
9.36 8.99 0.95 0.01 0.29
4.11 4.85 1.00 0.15 0.21
-2.63 -14.71 0.90 -0.04 0.15
-8.73 -171.60 1.12 -0.16 0.13
-144.50
98.51
4.48
-4.34
-4.92
5 108 412 -299 C
43 73 31 84 1,857 A
52 77 34 102 3,101 BBB
78 73 39 120 1,745 B
53 55 31 61 218 CC
Solvency ratios
Liquidity ratios
Profitability and economic equilibrium ratios Return on investement ROI (%) Return on equity ROE (%) Asset turnover Interest paid weight Gross Profit/Operating revenue
Interest Coverage ratios EBIT interest coverage ratio
Cash Conversion Cycle (days) Days Sales Of Inventory (DIO) Days Sales Outstanding (DSO) Days Payable Outstanding (DPO) Cash Conversion Cycle (DIO + DSO - DPO)
Numer of analyzed companies (Average) Rating
The sector has been chosen according to: international companies in the sector NACE 2 2899 with financial data of year 2009.
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Sector Analysis - Graphs
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Balance Sheet BALANCE SHEET (th e) Accounting practice Exchange rate USD - EUR Total assets Fixed assets Intangible fixed assets Tangible fixed assets Other fixed assets Current assets Stocks Debtors Other current assets Cash & cash equivalent Shareholders funds Capital Other shareholders funds Total liabilities Non current liabilities Long term debt Other non-current liabilities Current liabilities Loans Creditors Other current liabilities Total shareh. funds & liab.
30/06/2010 Local GAAP 0.81493 373 17 9 8 356 2 40 314 307 -718 15 -733 1,091 0 0 0 1,091 0 150 941 373
30/06/2009 Local GAAP 0.70751 223 11 0 2 9 212 0 13 198 192 -679 11 -690 901 0 0 0 901 15 117 769 223
30/06/2008 Local GAAP 0.63436 214 10 0 5 4 205 0 11 194 187 -587 9 -596 801 2 2 0 799 43 107 650 214
NET DEBT (th e) Short term debts Long term debt Cash & cash equivalent Net debt
30/06/2010 0 0 307 -307
30/06/2009 15 0 192 -177
30/06/2008 43 2 187 -141
Working capital Net Current Assets
30/06/2010 -109 -735
30/06/2009 -104 -690
30/06/2008 -594
Days Sales Of Inventory (DIO) Days Sales Outstanding (DSO) Days Payable Outstanding (DPO) Cash Conversion Cycle (DIO + DSO - DPO)
30/06/2010 5 108 412 -299
30/06/2009 0 148 1,289 -1,141
30/06/2008 0 207 2,044 -1,837
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Income Statement INCOME STATEMENT (th e) Accounting practice Exchange rate USD - EUR Sales Revenues growth (%) Other revenues +/- variation in inventories and contract in progress + Fixed assets own construction capitalized Operating revenue / turnover Total operating costs Costs growth (%) Service costs Material costs Costs of employees EBITDA Depreciation EBIT Financial P/L Financial revenue Financial expenses Interest paid P/L before tax Extr. and other P/L Extr. and other revenue Extr. and other expenses P/L before tax + Extr. and other P/L Taxation P/L for period
30/06/2010 Local GAAP 0.81493 133 300.5 0
30/06/2009 Local GAAP 0.70751 33 74.7 0
30/06/2008 Local GAAP 0.63436 19 0
133 1,867 28 -1,730 4 -1,734 -12 0 12 12 -1,746 0 -1,746
33 1,455 30 -1,420 1 -1,421 -25 2 27 21 -1,446 0 -1,446
19 1,122 -1,101 2 -1,103 -3 10 13 17 -1,106 0 -1,106
Costs of Good Sold Gross Profit Other Operating Expenses
30/06/2010 110 23 1,757
30/06/2009 25 8 1,430
30/06/2008 27 -8 1,095
Cash flow Added value
30/06/2010 -1,741 -
30/06/2009 -1,445 -
30/06/2008 -1,104 -
Number of employees
30/06/2010 6
30/06/2009 6
30/06/2008 6
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Evolutions and trends
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Qualitative information
Full overview
Profile Technologies, Inc. is a US - based private company engaged in the development of high speed scanning process to remotely test buried and insulated pipelines for corrosion. The company is also involved in inspecting pipelines for corrosion. The company was incorporated in 1986. Its registered office address is located in Manhasset, a town in Nassau County, New York. Profile Technologies has developed two basic EMW inspection techniques, including Dual - Pulse or Pulse Propagation Analyzer and Single - Pulse or Calibration Mark Z. In addition, Profile Technologies is active in the research and development of a high speed scanning process, which is nondestructive and noninvasive, to remotely test buried and above ground pipelines for corrosion and coating problems. The process is called a dual pulse propagation analyzer.
History
Not available.
Primary business line
Engaged in the development of high speed scanning process to remotely test buried and insulated pipelines for corrosion; Involved in inspecting pipelines for corrosion.
Secondary business line
Not available.
Main activity
Services.
Secondary activity
Not available.
Main products and services
Not available.
Size estimate
Not available.
Strategy, organization and policy
Not available.
Strategic alliances
Not available.
Membership of a network
Not available.
Main brand names
Not available.
Main domestic country
United States of America.
Main foreign countries or regions
Not available.
Main production sites
Not available.
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Main distribution sites
Not available.
Main sales representation sites
Not available.
Main customers
Not available.
Auditor/Advisor/Bank type Auditor Transfer Agent
PETERSON SULLIVAN LLP Continental Stock Transfer & Trust
Board Mr Murphy Evans Mrs Gale Burnett Mr Allen G Reeves Mr Charles Christenson Mr Glenn Christenson Mr John Agunzo Mr Richard L Palmer Mr Thomas K Evans Mr William A Krivsky
function Chairman of the Board Vice - Chairman (Executives) Director Director Board of Directors (Executives) Director President, Director Director Director
date of birth -
nationality United States -
Sharehoders (the first twenty shareholders ordered by Direct %) EVANS MURPHY FAMILY Rating: Country ISO code NACE Rev. 2, Core code Direct % Total %
31.45 -
Operating revenue (MIL $) Total Assets (MIL $) Number of Employees Information date
modeFinance srl VAT number 01168840328 E-mail: info@modefinance.com Web: www.modefinance.com
2009/09
Area Science Park, Padriciano 99 34149 Trieste, Italy Tel: +39 040 3755337 Fax: +39 040 3756741
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GEMINO HENRY E. Rating: Country ISO code NACE Rev. 2, Core code Direct % Total %
2.93 -
Operating revenue (MIL $) Total Assets (MIL $) Number of Employees Information date
2009/09
Operating revenue (MIL $) Total Assets (MIL $) Number of Employees Information date
2009/09
AGUNZO JOHN Rating: Country ISO code NACE Rev. 2, Core code Direct % Total %
US 1.88 -
Subsidiaries (the first twenty subsidiaries ordered by Direct %) Not available.
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MORE rating guide General vision A credit rating is an opinion of the general creditworthiness of an obligor (issuer rating), or the creditworthiness of an obligor in respect of a specific debt security, or other financial obligation (issue rating), based on relevant risk factors. The Multi Objective Rating Evaluation (MORE) model is essentially used to assess the level of distress of industrial companies by using data included in financial statements. The basic idea of the model is to analyze a set of financial and economic ratios in a predictive corporate bankruptcy model with the purpose of creating a fundamental credit rating model for each industrial sector. Results of the model are obtained by applying newly developed numerical methodologies, drawing together financial theory, data mining and engineering design methodologies. The heart of MORE is a multi dimensional and multi objective algorithm that produces a classification of each company, by taking into account any attributes (such as sector and country) characterizing a firm. The model gives the opportunity to assign a rating to a company even without considering a complete data analysis and allows to process quality information. It induces a better understanding of a company s strength and weakness thanks to sophisticated data mining tools and taking into account the analysts knowledge. The MORE rating vision is to look at the fundamental economics of the company. The main idea is to evaluate the rating observing every aspect of the economical and financial behavior of the company: better is the equilibrium between the different aspects, better will be the final rating. This is done studying, evaluating and aggregating the most important sections of the financial and economic behavior of a company as: profitability, liquidity, solvency, interest coverage and efficiency.
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Rating scale Rating class
Rating Macro class
The company’s capacity to meet its financial commitments is extremely strong. The company shows an excellent economic and financial flow and fund equilibrium.
AAA
AA
Healthy
A
BBB Balanced BB
B Vulnerable CCC
D
The company has very strong creditworthiness. It also has a good capital structure and economic and financial equilibrium. Difference from ’AAA’ is slight. The company has a high solvency. The company is however more susceptible to the adverse effects of changes in circumstances and economic conditions than companies in higher rated categories. Capital structure and economic equilibrium are considered adequate. The company’s capacity to meet its financial commitments could be affected by serious unfavourable events. A company rated ’BB’ is more vulnerable than companies rated ’BBB’. Furthermore the company faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions. The company presents vulnerable signals with regard to its fundamentals. Adverse business, financial, or economic conditions will be likely to impair the company’s capacity or willingness to meet its financial commitments. A company rated ’CCC’ has a dangerous disequilibrium on the capital structure and on its economic and financial fundamentals. Adverse market events and an inadequate management could affect with high probability the company’s solvency. The company shows signals of high vulnerability. In the event of adverse market and economic conditions, the company’s strong disequilibrium could increase.
CC
C
Assessment
Risky
The company shows considerable pathological situations. The company’s capacity to meet its financial commitments is very low. The company has not any longer the capacity to meet its financial commitments.
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Fundamental Credit Rating Ratios Solvency ratios Leverage ratio Assets to debt Financial ratios Fixed Assets coverage ratio Liquidity ratios Current ratio Quick ratio
Measures the level of total liabilities of the company in comparison with equity. Indicates company s solvency. The company shows a level of deficit when the value of this ratio is under one unit. Only for holdings. It measures the capital structure i.e. whether a company covers the fixed assets with long term capital. The current ratio measures whether a company has sufficient short-term assets to cover its short-term liabilities. The quick ratio compares current liabilities only to those assets that can be readily turned into cash.
Profitability and economic ratios Return on Investement(ROI) It measures the profitability of company investments without regard to the way the Return on Equity(ROE) Asset turnover Profit margin Interest coverage ratio Interest Paid coverage
investment is financed. It measures the profitability of the equity. It indicates the investments turnover with regard to sales. The level assumed from the ratio depends on the sector in which the company operates. It indicates the profitability of the sales. Indicate the ability of the company to cover interest expenses through the economic margins (Gross profit and EBIT) and through the cash flow from operating activities.
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mF Credit Limit mF Credit limit is the estimation of the amount of maximum credit that is possible to assign on a commercial relationship with the analyzed company with an outlook of one year. modeFinance used the following values associated with the company analyzed while computing the credit limit: • Size; • Years in Business; • Average number of suppliers; • Liquidity of the company and the comparison with its sector;; • The funds dedicated to be paid to suppliers; • The likelihood that a company may pay its debts in the next 12 months (MORE Ratings). The credit limit in this report is merely a suggested value of commercial credit limit calculated on the basis of annual public data. This value should be reviewed by paying attention at the Confidence Level value and by using other information such as other business information, news... etc; and private information such as the relationship with client, history of payments, guarantees and the knowledge of the sector.
Probability of default and Confidence Level In addition to the MORE rating, modeFinance also estimates the probability of default and provides a level of confidence. The probability of default is the degree of certainty (in quantitative terms) that the company will go into default. As the probability of default is strongly affected by the economic climate the company is operating in, companies in the same MORE class will not necessarily have the same probability of default. The MORE model can produce a MORE rating even if there is missing data by using an associated confidence level: P Available Inf ormation Conf idence = P T otal Inf ormation The level of confidence does not indicate financial confidence in the company. It is a reflection of the variations in availability of financial data across Europe due to filing regulations and suggests the degree of financial detail the MORE rating is able to take into account for each company. For companies with fully populated records a confidence level of 100% would be applied: companies where no financial data is provided, 0%. This puts the MORE rating in a context for the user and aids interpretation.
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NOTES The present analysis was based on the company available financial statements as provided by Bureau Van Dijk Electronic Publishing - ORBIS database (lack of both Notes to financial statements and Report on operations).
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Contacts Company Products Where Info web Phone
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