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Comprehensive Report  
 
D-U-N-S® Number 80-473-5132
Copyright 2003 Dun & Bradstreet - Provided under contract for the exclusive use of subscriber XXXXXXXXL
ATTN: John Q. Public
Report Printed:   
 
Overview | Scores | Payments | Public Filings | History & Operations | Banking & Finance
 
 
Overview

 Business Summary   About Business Summary
 
       

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Payment Trends Profile
Payment trends and industry benchmarks

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GORMAN MANUFACTURING COMPANY, INC
492 Koller Street
San Francisco, CA 94110

D&B D-U-N-S Number:
80-473-5132
 
Do not confuse with other Gorman companies, this is a fictitious company used by D&B for demonstration purposes.
This is a headquarters location.
Branch(es) or division(s) exist.
 
 
Telephone:  650 555-0000
 
 
 
Chief executive:  LESLIE SMITH, PRES
 
 
 
Year started:  1965
 
 
Employs: 120 (100 here)
 
Financial statement date: DEC 31 2002
 
 
Sales F: $22,941,393
 
 
Net worth F: $3,447,196
 
 
History:  CLEAR
 
 
Financing:  SECURED
 
 
Jump to:  Finance Section
SIC: 2752
 
Jump to:  SIC & NAICS Section
 
 
Line of business:  Commercial printing
 
     

Credit Score Class:  5
High risk of severe payment delinquency over next 12 months
Jump to:  Credit Score Class Summary

Financial Stress Class:  4
Moderate to high risk of severe financial stress over the next 12 months
Jump to:  Financial Stress Summary

12-Month D&B PAYDEX®: 47
When weighted by dollar amount, payments to suppliers average 39 days beyond terms.
Jump to:  PAYDEX

D&B Rating:
--
 
Jump to:  Credit Capacity Summary
 
 

 Corporate Family
This business is at the top of the corporate family. Click the link below to view subsidiaries and branches.
View more family members



 Executive Summary   About Executive Summary
 
The Financial Stress Class of 4 for this company shows that during the previous year, firms with this classification had a failure rate of 8.3% (830 per 10,000), which is 5.92 times higher than the national average.
 
The Credit Score class of 5 for this company shows that during the previous year, 58.6% of the firms with this classification paid one or more bills severely delinquent, which is 3.43 times higher than the national average.
 
Financial information from a fiscal statement dated 12/31/02 is included.
 
Predictive Scores This Business Comments
Financial Stress Class 4 Failure Rate higher than the national average
Financial Stress Score 1301 Highest Risk: 1,001; Lowest Risk: 1,850
Credit Score Class 5 Probability of Severely Delinquent Payment is higher than the national average
 
Other Key Indicators    
Current PAYDEX 39 days beyond terms Pays more slowly than the average for its industry of 8 days beyond terms
Industry Median 8 days beyond terms  
Operations Profitable  
Present management control 38 years  
UCC Filings UCC filing(s) are reported for this business
Public Filings Evidence of open suits,liens and judgement in the D&B database
Financing Is secured  
History Is clear  
Special Events Are reported for this business  
 

 Credit Capacity Summary   About Credit Capacity Summary

D&B Rating:
--

The blank rating symbol should not be interpreted as indicating that credit should be denied. It simply means that the information available to D&B does not permit us to classify the company within our rating key and that further enquiry should be made before reaching a decision. Some reasons for using a "-" symbol include: deficit net worth, bankruptcy proceedings, insufficient payment information, or incomplete history information. For more information, see the D&B Rating Key.
 
Sales: $22,941,393
# of Employees Total: 120 (100 here)
 
As of 12/31/02  
Worth: $3,447,196
Working Capital: $1,833,032
 
Payment Activity:
(based on 257 experiences)
 
Average High Credit: $42,171
Highest Credit: $750,000
Total Highest Credit: $6,505,850
Note: The Worth amount in this section may have been adjusted by D&B to reflect typical deductions, such as certain intangible assets.


 Special Events   About Special Events
 
05/06/2003
On March 26, 2003 the subject experienced a fire due to an earthquake. According to Leslie Smith, president, damages amounted to $35,000 which were fully covered by their insurance company. The business was closed for two days while employees settled personal matters.
 
 

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Overview | Payments | Public Filings | History & Operations | Banking & Finance

Scores   

 Financial Stress Summary   About Financial Stress Summary

The Financial Stress Summary Model predicts the likelihood of a firm ceasing business without paying all creditors in full, or reorganization or obtaining relief from creditors under state/federal law over the next 12 months. Scores were calculated using a statistically valid model derived from D&B's extensive data files.

Financial Stress Class: 4
Moderate to high risk of severe financial stress, such as a bankruptcy, over the next 12 months.

Incidence of Financial Stress

Among Businesses with this    
Classification:
8.30% (830 per 10,000)
National Average 1.40% (140 per 10,000)

Financial Stress National Percentile: 4 (Highest Risk: 1; Lowest Risk: 100)

Financial Stress Score: 1301 (Highest Risk: 1,001; Lowest Risk: 1,850)

The Financial Stress Class of this business is based on the following factors:

  • Payment experiences exist for this firm which are greater than 60 days past due.
  • 36% of trade experiences indicate slow payment(s) are present.
  • Payment information indicates negative payment comments.
  • Control age or date entered in D&B files indicates lower risk.
  • Business owns facilities.
  • Change in Net Worth suggests lower risk of financial stress.
  • Quick Ratio suggests higher risk of financial stress.
Notes:
  • The Financial Stress Class indicates that this firm shares some of the same business and financial characteristics of other companies with this classification. It does not mean the firm will necessarily experience financial stress.
  • The Incidence of Financial Stress shows the percentage of firms in a given Class that discontinued operations over the past year with loss to creditors. The Incidence of Financial Stress - National Average represents the national failure rate and is provided for comparative purposes.
  • The Financial Stress National Percentile reflects the relative ranking of a company among all scorable companies in D&B's file.
  • The Financial Stress Score offers a more precise measure of the level of risk than the Class and Percentile. It is especially helpful to customers using a scorecard approach to determining overall business performance.
  • All Financial Stress Class, Percentile, Score and Incidence statistics are based on 2002.

Norms National %
This Business 4
Region:
PACIFIC
43
Industry:
MANUFACTURING
49
Employee Range:
100-499
55
Years in Business:
26+
82

This business has a Financial Stress Percentile that shows:

  • Higher risk than other companies in the same region.
  • Higher risk than other companies in the same industry.
  • Higher risk than other companies in the same employee size range.
  • Higher risk than other companies with a comparable number of years in business.

 Viability Rating Analysis   About Viability Rating Analysis
 
The D&B Viability Rating uses D&B's proprietary analytics to compare the most predictive business risk indicators and deliver a highly reliable assessment of the probability that a company will no longer be in business within the next 12 months.

D&B VIABILITY RATING:
42FY

D&B VIABILITY RATING COMPONENTS:

VIABILITY SCORE:

Viability Score is the first of four components within the D&B Viability Rating. It is a high-level risk indicator that assesses the probability that a company will no longer be in business within the next 12 months, compared to all US businesses within the D&B database. A business is no longer viable when it goes out of business, becomes dormant/ inactive or files for bankruptcy. The ranking ranges from 1 to 9 where 9 reflects the highest probability of becoming no longer viable and 1 reflects the lowest probability.

NOTE: The Viability Score is best used when ranking all businesses within you portfolio based on the probability of becoming no longer viable.
Viability Score:  4                                                     

Compared to ALL US Business within D&B Database:

  • Level of risk: Low Risk
  • Business ranked 4 have a probability of becoming no longer viable: 5
  • Percentage of business ranked 4: 14
  • Across all US business, the average probability of becoming no longer viable: 14

  • PORTFOLIO COMPARISON:

    Portfolio Comparison is the second of four components within the D&B Viability Rating. Portfolio Comparison is a more detailed risk indicator that assesses the viability of a company compared to similar businesses within the same model segment which are determined by the amount and type of data available. A business is no longer viable when it goes out of business, becomes dormant/ inactive or files for bankruptcy. Every business within the D&B database falls into 1 of the following 4 profile segments:

    1. Available Financial Data.
    2. Established Trade Payments.
    3. Limited trade Payments.
    4. Firmographics and Business Activity.
    The Portfolio Comparison ranking ranges from 1 to 9 where 9 reflects the highest probability of becoming no longer viable and 1 reflects the lowest probability.

    NOTE: The Portfolio Comparison is best used when analyzing the individual risk level of a company compared to businesses within the same profile segment.
    Portfolio Comparison:  2                                            

    Compared to all Business within the same MODEL SEGMENT:

  • Model Segment: FIRMOGRAPHICS AND BUSINESS ACTIVITY
  • Level of risk: Low Risk
  • Business ranked 2 within this model segment have a probability of becoming no longer     viable: 5
  • Percentage of business ranked 2 within this model segment: 14
  • Within this model segment, the average probability of becoming no longer viable: 16

  • DATA DEPTH INDICTOR:

    Data Depth Indicator is the third of four components within the D&B Viability Rating. The Depth of Data Indicator presents the level of data available for a company. Data depth assists in the assessment of whether a company will no longer be viable and includes the following:

    1. Financial Attributes.
    2. Commercial Trading Activity.
    3. Firmographics.
    The level of data is represented by a letter on a scale of A - G where A reflects the greatest level of predictive data to make a highly reliable assessment of company viability, and G reflects a minimal level of data which can be considered descriptive. The more comprehensive the data, the more precise the overall D&B Viability Rating becomes. If a company has been placed in the Special Category, a letter ranging from H-M will be assigned to identify the specific reason.

    Data Depth:   F

    Data Depth Indicator Details:

  • Basic Firmographics
  • Trace Commercial Trading Activity
  • No Financial Attributes

  • Greater data depth can increase the precision of the D&B Viability Rating assessment.

    You have the ability to influence the confidence of the viability assessment by asking the business to report more information to D&B at https://iupdate.dnb.com/iUpdate

    COMPANY PROFILE:

    Company Profile is the fourth of four components within the D&B Viability Rating. The Company Profile describes a company based on a combination of 4 categories:

    1. Financial Data.
    2. Trade Payments.
    3. Company Size.
    4. Years in Business.
    A company is characterized by a letter which ranges from A - X; with each letter representing a combination of the 4 categories that make up the company's profile. For example, A describes a company with a comprehensive level data, which has been in business 5+ years, with 50+ employees or $500K+ in Sales, while X reflects a company with a minimal data, in business < 5 years, with < 10 employees or < $10K in Sales. Y and Z reflect a Branch and Subsidiary, respectively.

    Company Profile:   Y

    Based on information in D&B's data files, the Company Profile for this business is 0. This means the company has been placed in a Special Category of either being OUT OF BUSINESS OR UNABLE TO CONFIRM DESIGNATION. See DATA DEPTH INDICATOR for details

     Credit Score Class Summary   About Credit Score Class Summary

    The Credit Score class predicts the likelihood of a firm paying in a severely delinquent manner (90+ Days Past Terms) over the next twelve months. It was calculated using statistically valid models and the most recent payment information in D&B's files.

    Credit Score Class: 5
    High risk of severe payment delinquency over next 12 months.

    Incidence of Delinquent Payment

    Among Companies with this Classification: 58.60%

    Credit Score Percentile: 2 (Highest Risk: 1; Lowest Risk: 100)

    The Credit Score Class of this business is based on the following factors:

    • 36% of trade experiences indicate slow payment(s) are present.
    • Payment experiences exist for this firm which are greater than 60 days past due.
    • Payment information indicates negative payment comments.
    • Control age or date entered in D&B files indicates lower risk.
    • D&B files indicate a net worth of $3,447,196.
    • Quick ratio is 0.6.
    Notes:
    • The Incidence of Delinquent Payment is the percentage of companies with this classification that were reported 90 days past due or more by creditors. The calculation of this value is based on an inquiry weighted sample.
    • The Percentile ranks this firm relative to other businesses. For example, a firm in the 80th percentile has a lower risk of paying in a severely delinquent manner than 79% of all scorable companies in D&B's files.

    Norms National %
    This Business 2
    Region:
    PACIFIC
    56
    Industry:
    MANUFACTURING
    53
    Employee Range:
    100-499
    54
    Years in Business:
    26+
    70

    This business has a Credit Score Percentile that shows:

    • Higher risk than other companies in the same region.
    • Higher risk than other companies in the same industry.
    • Higher risk than other companies in the same employee size range.
    • Higher risk than other companies with a comparable number of years in business.
     
     

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    Overview | Scores | Public Filings | History & Operations | Banking & Finance

    Payments   

     Payment Trends   About Payment Trends
     
     
    Total Payment Experiences in D&B's File:

    257
    Payments Within Terms:
    (not dollar weighted)

    18%
    Total Placed For Collection:

    82
    Average Highest Credit:

    $42,171
    Largest High Credit:

    $750,000
    Highest Now Owing:

    $500,000
    Highest Past Due:

    $500,000
     
    Current PAYDEX is: 47 equal to 39 days beyond terms
    Industry Median is: 75 equal to 8 days beyond terms
    Payment Trend currently is: unchanged, compared to payments three months ago
    Indications of slowness can be the result of dispute over merchandise, skipped invoices, etc. Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed.


     PAYDEX Scores   About PAYDEX Scores
     
    Shows the D&B PAYDEX scores as calculated on the most recent 3 months and 12 months of payment experiences.

    The D&B PAYDEX is a unique, dollar weighted indicator of payment performance based on up to payment experiences as reported to D&B by trade references. A detailed explanation of how to read and interpret PAYDEX scores can be found at the end of this report.
    3-Month D&B PAYDEX: 51
    When weighted by dollar amount, payments to suppliers average 29 days beyond terms.

    Based on payments collected over last 3 months.
    12-Month D&B PAYDEX: 47
    When weighted by dollar amount, payments to suppliers average 39 days beyond terms.

    Based on payments collected over last 12 months.
     

    D&B PAYDEX Key
    High risk of late payment
    (average 30 to 120 days beyond terms)
    Medium risk of late payment
    (average 30 days or less beyond terms)
    Low risk of late payment
    (average prompt to 30+ days sooner)


     PAYDEX Yearly Trend   About PAYDEX Yearly Trend

    12 Month PAYDEX Scores Comparison to Industry

      8/02 9/02 10/02 11/02 12/02 1/03 2/03 3/03 4/03 5/03 6/03 7/03
    This Business 35 28 30 30 31 37 38 37 45 45 46 47
    Industry Quartiles
    Upper   79     79     79     79  
    Median   74     75     75     75  
    Lower   66     67     67     66  


    Shows the trend in D&B PAYDEX scoring over the past 12 months.

     
         
       PAYDEX      
       
     
    Aug-
    '02
    Sep-
    '02
    Oct-
    '02
    Nov-
    '02
    Dec-
    '02
    Jan-
    '03
    Feb-
    '03
    Mar-
    '03
    Apr-
    '03
    May-
    '03
    Jun-
    '03
    Jul-
    '03
     
         
     
    Last 12 Months
     
     Based on payments collected over the last 12 months.
     

    - Current PAYDEX for this Business is 47, or equal to 39 days beyond terms
    - The 12-month high is 47, or equal to 39 days beyond terms
    - The 12-month low is 28, or equal to 96 days beyond terms


     PAYDEX Comparison to Industry   About PAYDEX Comparison to Industry

    Shows PAYDEX scores of this Business compared to the Primary Industry from each of the last four quarters. The Primary Industry is Commercial printing, based on SIC code 2752.

    Quarterly PAYDEX Scores Comparison to Industry

    Previous Year
      9/01 12/01 3/02 6/02
    This Business 42 40 36 34
    Industry Quartiles
    Upper 79 79 79 79
    Median 73 73 73 74
    Lower 64 64 64 65
         
    Current Year
      9/02 12/02 3/03 6/03
    This Business 28 31 37 46
    Industry Quartiles
    Upper 79 79 79 79
    Median 74 75 75 75
    Lower 66 67 67 66
     
     
         
       PAYDEX  
       
    Q3 2002 Q4 2002 Q1 2003 Q2 2003
     
         
     
    Last 12 Months
     
     Based on payments collected over the last 4 quarters.
     


    Score Comparison Key:
     
    This Business
     
    Industry upper quartile
    Industry median
    Industry lower quartile

    - Current PAYDEX for this Business is 47, or equal to 39 days beyond terms
    - The present industry median score is 75, or equal to 8 days beyond terms.
     
    - Industry upper quartile represents the performance of the payers in the 75th percentile
    - Industry lower quartile represents the performance of the payers in the 25th percentile

     Payment Habits   About Payment Habits

    For all payment experiences within a given amount of credit extended, shows the percent that this Business paid within terms. Provides number of experiences used to calculate the percentage, and the total dollar value of the credit extended.

     
     
     
    $ Credit Extended % of Payments Within Terms # Payment
    Experiences
    $ Total
    Dollar Amount
     
     
     
     Based on payments collected over the last 12 months.
     

    Payment experiences reflect how bills are met in relation to the terms granted. In some instances, payment beyond terms can be the result of disputes over merchandise, skipped invoices, etc.

     Payment Summary   About Payment Summary

    The Payment Summary section reflects payment information in D&B's file as of the date of this report.

    There are 257 payment experiences in D&B's file for the most recent 12 months, with 75 experiences reported during the last three month period.

    Below is an overview of the company's dollar-weighted payments, segmented by its suppliers' primary industries:

      Total
    Rcv'd
    (#)
    Total Dollar
    Amts
    ($)
    Largest High
    Credit
    ($)
    Within
    Terms
    (%)
    Days Slow
    <31 31-60 61-90 90>
    (%)

    The highest Now Owes on file is $500,000 The highest Past Due on file is $500,000

    Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed. Indications of slowness can be result of dispute over merchandise, skipped invoices, etc.


     Payment Details   About Payment Details
     
    Detailed payment history

    Date Reported
    (mm/yy)
    Paying Record High Credit
    ($)
    Now Owes
    ($)
    Past Due
    ($)
    Selling Terms Last Sale
    Within
    (months)

    Payments Detail Key:   30 or more days beyond terms

    Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed.

    Payment experiences reflect how bills are met in relation to the terms granted. In some instances payment beyond terms can be the result of disputes over merchandise, skipped invoices etc.

    Each experience shown is from a separate supplier. Updated trade experiences replace those previously reported.


     
     

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    Overview | Scores | Payments | History & Operations | Banking & Finance

    Public Filings

     Public Filings 
       
    The following data includes both open and closed filings found in D&B's database on the subject company.

    Record Type # of Records Most Recent Filing Date
    Bankruptcy Proceedings 0 -
    Judgments 1 08/13/1996
    Liens 16 12/14/2001
    Suits 6 01/01/2003
    UCC's 4 08/01/2001


    The following Public Filing data is for information purposes only and is not the official record. Certified copies can only be obtained from the official source.

     

     Judgments   About Judgments
       
     
     Liens   About Liens
       
    A lienholder can file the same lien in more than one filing location. The appearance of multiple liens filed by the same lienholder against a debtor may be indicative of such an occurrence.

     
     Suits   About Suits
       

    If it is indicated that there are defendants other than the report subject, the lawsuit may be an action to clear title to property and does not necessarily imply a claim for money against the subject.
     
     UCC Filings   About UCC Filings
       
     
    There are additional suits, liens, or judgments in D&B's file on this company available by contacting
    1-800-234-3867.
    The public record items contained in this report may have been paid, terminated, vacated or released prior to the date this report was printed.
     
     

    Jump to:
    Overview | Scores | Payments | Public Filings | Banking & Finance

    History & Operations

     History   About History
     
    The following information was reported 05/06/2003:
     
    Officer(s):   LESLIE SMITH, PRES
       KEVIN J HUNT, SEC-TREAS
     
    DIRECTOR(S):  THE OFFICER(S)
     

    Business started 1965 by Leslie Smith and Kevin J Hunt. 100% of capital stock is owned by officers.

    LESLIE SMITH born 1926. Graduated from the University of California, Los Angeles, CA, in June 1947 with a BS degree in Business Management. 1947-65 general manager for Raymor Printing Co, San Francisco, CA. 1965 formed subject with Kevin J Hunt.

    KEVIN J HUNT born 1925. Graduated from Northwestern University, Evanston, IL in June 1946. 1946-1965 was general manager for Raymor Printing Co, San Francisco, CA. 1965 formed subject with Leslie Smith.


    AFFILIATE:
    The following is related through common principals, management and/or ownership. Gorman Affiliate Ltd, San Francisco, CA, started 1965. Operates as commercial printer. Intercompany relations: None reported by management.
     
     Corporate Family   About Corporate Family

    For more details on the Corporate Family, use D&B's Global Family Linkage product.
     
    Branches (US):
    Select companies below to buy Business Information Report(s).
      Gorman Manufacturing Company, Inc Los Angeles, CA DUNS # 03-873-2116
     Business Registration   About Business Registration

    CORPORATE AND BUSINESS REGISTRATIONS PROVIDED BY MANAGEMENT OR OTHER SOURCE

    The Corporate Details provided below may have been submitted by the management of the subject business and may not have been verified with the government agency which records such data.
     
    Registered Name: Gorman Manufacturing Company, Inc.
     
       
     
    Business type:  CORPORATION
     
     
    Corporation type:  PROFIT
     
     
    Date incorporated:  MAY 21 1965
     
     
    State of incorporation:  CALIFORNIA
     
     
    Filing date:  MAY 21 1965
     
     
    Registration ID:  testcase102
     
         
       
    Common stock
     
    Authorized shares:  200
     
    Par value:
     
     
    Where filed: SECRETARY OF STATE/CORPORATIONS DIVISION, SACRAMENTO, CA
     
     Operations   About Operations
     
    05/06/2003
     
    Description:   Commercial printing specializing in advertising posters, catalogs, circulars and coupons.
     
      ADDITIONAL TELEPHONE NUMBER(S): Facsimile (Fax) 512 794-7670.
     
      Terms are net 30 days. Has 250 account(s). Sells to commercial concerns.
     
      Nonseasonal.
     
    Employees:   120 which includes officer(s). 100 employed here.
     
    Facilities:   Owns premises in a one story cinder block building.
     
    Location:    Central business section on well traveled street.
     
    Branches:    Subject maintains a branch at 1073 Boyden Road, Los Angeles, CA.
     
     
     SIC & NAICS   About SIC & NAICS
     
    SIC:
    Based on information in our file, D&B has assigned this company an extended 8-digit SIC. D&B's use of 8-digit SICs enables us to be more specific to a company's operations than if we use the standard 4-digit code.

    The 4-digit SIC numbers link to the description on the Occupational Safety & Health Administration (OSHA) Web site. Links open in a new browser window.

    27520000 Commercial printing, lithographic
     
    NAICS:
    323110 Commercial Lithographic Printing
     
     
     

    Jump to:
    Overview | Scores | Payments | Public Filings | History & Operations

    Banking & Finance

     Banking   About Banking
      (05-01) Balances average in a low 7 figure amount. At Dec 31 2000, a low 7 figure was outstanding under short-term lines of credit which are secured by accounts receivable and inventory.

     Key Business Ratios   About Key Business Ratios
     
     
    Statement date: DEC 31 2002
    Based on this number of establishments:   18
     
     
    Industry Norms based on 18 establishments
     
      This Business Industry Median Industry Quartile
    Profitability
    Return on Sales 0.6 2.1 3
    Return on Net Worth 3.9 9.6 4
    Short-Term Solvency
    Current Ratio 1.3 1.6 3
    Quick Ratio 0.6 1.2 4
    Efficiency
    Assets Sales 45.0 50.1 2
    Sales / Net Working Capital 12.5 12.9 3
    Utilization
    Total Liabs / Net Worth 199.3 166.7 3
     

     Finance   About Finance
     
    05/06/2003
     
    Three-year statement comparative:
     
      Fiscal 
    Dec 31 1999 
    Fiscal 
    Dec 31 2000 
    Fiscal 
    Dec 31 2001 
     
    Current Assets 6,022,432 6,383,778 7,022,157
    Current Liabs 4,747,902 5,032,776 5,536,053
    Current Ratio 1.27 1.27 1.27
    Working Capital 1,274,530 1,351,002 1,486,104
    Other Assets 2,754,300 2,920,416 2,880,592
    Net Worth 2,980,930 3,160,644 3,311,461
    Sales 18,569,562 19,683,736 20,667,922
    Long Term Liab 1,047,900 1,110,774 1,055,235
    Net Profit (Loss) 613,280 650,077 150,817
     
     
    Fiscal statement dated DEC 31 2002:
                         
      Assets     Liabilities
        Cash 985,072           Accts Pay 3,317,343    
        Accts Rec 2,399,773           Bank Loans 1,180,960    
        Inventory 1,984,325           Notes Pay 519,103    
        Other Curr Assets 2,214,759           Other Curr Liabs 733,491    
      Curr Assets     $ 7,583,929         Curr Liabs     $ 5,750,897    
        Fixt & Equip 1,891,632           L.T. Liab-Other 1,118,549    
        Other Assets 841,081           COMMON STOCK 50,000    
                RETAINED EARNINGS 3,397,196    
      Total Assets     $ 10,316,642         Total     $ 10,316,642    
         
     
    From JAN 01 2002 to DEC 31 2002 annual sales $22,941,393; cost of goods sold $18,989,161. Gross profit $3,952,232; operating expenses $3,816,497. Operating income $135,735. Net income $135,735. Retained earnings at start $3,261,461. Net income $135,735; retained earnings at end $3,397,196.
     
    Submitted MAY 06 2003 by Leslie Smith, president. Accountant: Johnson, Jordan & Jones CPAs.
     
    ACCOUNTANT'S OPINION
    A review of the accountant's opinion indicates the financial statements meet generally accepted accounting principles and that the audit contains no qualifications.
     
    On MAY 06 2003 Leslie Smith, president, submitted the above figures.
     

     Customer Service 
     

    If you have questions about this report, please call our Customer Resource Center at 1.800.234.3867 from anywhere within the U.S. If you are outside the U.S. contact your local D&B office.

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