Sie sind auf Seite 1von 2

($ in thousands) Sales Growth 1. During the four-year period ended December 31, 2008, SciTronics sales grew at a 20.

69 % compound rate. There were no acquisition or divestitures. Compound Annual Growth Rate CAGR = (ending value starting value)1/(number of years) - 1 = (244,000 115,000)1/4 - 1 = 20.69% Profitability Ratio 1. SciTronics profit as a percentage of sales in 2008 was 5.74% (14,000/244,000). 2. This represented an increase from % in 2005. SciTronics profit as a percentage of sales in 2005 was 3.4% (5,000/147,000). 3. SciTronics had a total of $XXXXXXXX of capital at year-end 2008 and earned before interest but after taxes (EBIAT) $16,000 (26,000-10,000) during 2008. Its return on capital was ..........% in 2008 which represented an increase/decrease from the .............% earned in 2005. 4. SciTronics had $75,000 of owners equity and earned $14,000 after taxes in 2008. Its return on equity was 18.66% ($75,000/$14,000) an improvement from the 8.1% ($5,000/$61,000) earned in 2005. Activity Ratios: 1. Total asset turnover for SciTronics in 2008 can be calculated by dividing $244,000 (net sales) into $159,000 (total assets) . The turnover deteriorated from 1.58 ($147,000/$93,000) times in 2005 to 1.53 times in 2008. 2. SciTronics had $66,000 invested in accounts receivables at year-end 2008. Average sales per day were $668.49 ($244,000/365) during 2008 and its average collection period was 98.73 ($66,000/668.49) days. This represented an improvement from the average collection period of 104.29 ($42,000/402.73) days in 2005 3. SciTronics apparently needed $29,000 of inventory at year-end 2008 to support its operations during 2008. Its activity during 2008 as measured by the cost of goods sold was $74,000 . It therefore had an inventory turnover of 2.55 (74,000/29,000) times. This represented an improvement from 2.04 (43,000/21,000) times in 2005.

4. SciTronics had net fixed assets of $18,000 and sales of $244,000 . Its fixed asset turnover ratio in 2008 was 13.56 (244,000/18,000) times, an deterioration from 16.33 (147,000/9,000) times in 2005. Leverage Ratios 1. SciTronics ratio of total assets divided by owners equity increased from 1.53 (93,000/61,000) at year-end 2005 to 2.12(159,000/75,000) at year-end 2008. 2. At year-end 2008, SciTronics total liabilities were 52.8 % (84,000 x 100% /159,000) of its total assets, which compares with 34.4 % (32,000 x 100% /93,000) in 2005. 3. The market value of SciTronics equity was $175,000,000 at December 31, 2008. The total debt ratio at market was 32.43% (84,000/(84,000 + 175,000) ). 4. SciTronics earnings before interest and taxes (operating income) were $26,000 in 2008 and its interest charges were $2,000 . Its times interest earned was 13 times(26,000/2,000). This represented an improvement from the 2005 level of 10 times (10,000/1,000). 5. SciTronics owed its suppliers $6,000 at year-end 2008. This represented 8.1% (6,000 x 100% /74,000) of cost of goods sold and was an decrease from 11.63%(5,000 x 100% /43,000) at year end 2005. The company appears to be more prompt in paying its suppliers in 2008 than it was in 2005. 6. The financial riskiness of SciTronics decreased between 2005 and 2008. Liquidity Ratios 1. SciTronics held $133,000 of current assets at year-end 2008 and owed $48,000 to creditors due to be paid within one year. Its current ratio was 2.77(133,000/48,000) , an decrease from the ratio of 3.9(82,000/21,000) at year-end 2005. 2. The quick ratio for SciTronics at year-end 2008 was 2.17 ((133,000 - 29,000)/48,000), an decrease from the ratio of 2.9 ((82,000 - 21,000)/21,000) at year-end 2005