Scribd Logo
Upload

Welcome to Scribd!

  • 649 views

    Blaine Kitchenware, Inc. - Capital Structure DATA

    Uploaded by

    Shashank Gupta
    This document provides financial statements and operating metrics for Blaine Kitchenware and several competitors for the year ended December 31, 2006. It shows that in 2006, Blaine Kitchenware had revenue of $342 million, operating income of $64 million, EBITDA of $74 million, and net income of $54 million. Compared to competitors, Blaine Kitchenware had higher revenue growth, gross margins around 27%, and lower trading multiples.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd

    Blaine Kitchenware, Inc. - Capital Structure DATA

    Uploaded by

    Shashank Gupta
    649 views5 pages
    This document provides financial statements and operating metrics for Blaine Kitchenware and several competitors for the year ended December 31, 2006. It shows that in 2006, Blaine Kitchenware had revenue of $342 million, operating income of $64 million, EBITDA of $74 million, and net income of $54 million. Compared to competitors, Blaine Kitchenware had higher revenue growth, gross margins around 27%, and lower trading multiples.

    Original Description:

    ;klk;l;l

    Original Title

    Blaine Kitchenware, Inc.- Capital Structure DATA

    Copyright

    © © All Rights Reserved

    Available Formats

    XLS, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides financial statements and operating metrics for Blaine Kitchenware and several competitors for the year ended December 31, 2006. It shows that in 2006, Blaine Kitchenware had revenue of $342 million, operating income of $64 million, EBITDA of $74 million, and net income of $54 million. Compared to competitors, Blaine Kitchenware had higher revenue growth, gross margins around 27%, and lower trading multiples.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    649 views5 pages

    Blaine Kitchenware, Inc. - Capital Structure DATA

    Uploaded by

    Shashank Gupta
    This document provides financial statements and operating metrics for Blaine Kitchenware and several competitors for the year ended December 31, 2006. It shows that in 2006, Blaine Kitchenware had revenue of $342 million, operating income of $64 million, EBITDA of $74 million, and net income of $54 million. Compared to competitors, Blaine Kitchenware had higher revenue growth, gross margins around 27%, and lower trading multiples.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    You are on page 1of 5

    BLAINE KITCHENWARE

    Case Exhibit 1 Income Statements, years ended December 31, ($ in Thousands)


    Operating Results:
    Revenue
    Less: Cost of Goods Sold
    Gross Profit
    Less: Selling, General & Administrative
    Operating Income
    Plus: Depreciation & Amortization
    EBITDA
    EBIT
    Plus: Other Income (expense)
    Earnings Before Tax
    Less: Taxes
    Net Income
    Dividends

    2004
    291,940
    204,265
    87,676
    25,293
    62,383
    6,987
    69,370

    2005
    307,964
    220,234
    87,731
    27,049
    60,682
    8,213
    68,895

    2006
    342,251
    249,794
    92,458
    28,512
    63,946
    9,914
    73,860

    62,383
    4,838
    67,221
    21,508
    45,713
    16,000

    60,682
    5,578
    66,259
    20,984
    45,275
    22,871

    63,946
    6,064
    70,010
    21,532
    48,477
    28,345

    Margins:
    Revenue Growth
    Gross Margin
    EBIT Margin
    EBITDA Margin
    Effective Tax Rate a

    3.2%
    30.0%
    21.4%
    23.8%
    32.0%

    5.5%
    28.5%
    19.7%
    22.4%
    31.7%

    11.1%
    27.0%
    18.7%
    21.6%
    30.8%

    BLAINE KITCHENWARE

    Case Exhibit 2 Balance Sheets, December 31, ($ in Thousands)


    Assets:
    Cash & Cash Equivalents
    Marketable Securities
    Accounts Receivable
    Inventory
    Other Current Assets
    Total Current Assets

    2004
    67,391
    218,403
    40,709
    47,262
    2,586
    376,351

    2005
    70,853
    196,763
    43,235
    49,728
    3,871
    364,449

    2006
    66,557
    164,309
    48,780
    54,874
    5,157
    339,678

    Property, Plant & Equipment


    Goodwill
    Other Assets
    Total Assets

    99,402
    8,134
    13,331
    497,217

    138,546
    20,439
    27,394
    550,829

    174,321
    38,281
    39,973
    592,253

    26,106
    22,605
    14,225
    62,935
    1,794
    15,111
    79,840

    28,589
    24,921
    17,196
    70,705
    3,151
    18,434
    92,290

    31,936
    27,761
    16,884
    76,581
    4,814
    22,495
    103,890

    Liabilities & Shareholders' Equity:


    Accounts Payable
    Accrued Liabilities
    Taxes Payable
    Total Current Liabilities
    Other liabilities
    Deferred Taxes
    Total Liabilities

    BLAINE KITCHENWARE

    Exhibit 3Selected Operating and Financial Data for Public Kitchenware Producers, 12 Months ended Decemb
    Home & Hearth Design AutoTech Appliances
    589,747
    18,080,000
    106,763
    2,505,200
    119,190
    3,055,200
    53,698
    1,416,012

    Revenue
    EBIT
    EBITDA
    Net income
    Cash & securities
    Net working capital
    Net fixed assets
    Total assets

    Net debt b
    Total debt
    Book equity
    Market capitalization
    Enterprise value (MVIC)
    Equity beta

    XQL Corp.
    4,313,300
    721,297
    796,497
    412,307

    Bunkerhill, Inc.
    3,671,100
    566,099
    610,399
    335,073

    EasyLiving Systems
    188,955
    19,613
    23,356
    13,173

    21,495

    536,099

    21,425

    153,680

    242,102

    54,316
    900,803
    976,613

    1,247,520
    7,463,564
    9,247,183

    353,691
    3,322,837
    3,697,952

    334,804
    815,304
    1,303,788

    21,220
    68,788
    332,110

    350,798
    372,293
    475,377

    4,437,314
    4,973,413
    3,283,000

    950,802
    972,227
    2,109,400

    238,056
    391,736
    804,400

    776,427
    1,127,226

    13,978,375
    18,415,689

    5,290,145
    6,240,947

    3,962,780
    4,200,836

    (64,800)
    177,302
    94,919
    418,749
    353,949

    1.03

    1.24

    0.96

    0.92

    0.67

    LTM Trading Multiples


    MVIC/Revenue
    MVIC/EBIT
    MVIC/EBITDA
    Market/Book equity

    1.91x
    10.56x
    9.46x
    1.63x

    1.02x
    7.35x
    6.03x
    4.26x

    1.45x
    8.65x
    7.84x
    2.51x

    1.14x
    7.42x
    6.88x
    4.93x

    1.87x
    18.05x
    15.15x
    4.41x

    Net Debt/Equity
    Net Debt/Enterprise Value

    45.18%
    31.12%

    31.74%
    24.10%

    17.97%
    15.23%

    6.01%
    5.67%

    -15.47%
    -18.31%

    a
    b

    Net working capital excludes cash and securities


    Net debt is total long term and short term debt less excess cash.

    ####

    Months ended December 31, 2006 ($ in Thousands)


    Blaine Kitchenware
    342,251
    63,946
    73,860
    53,630
    230,866
    32,231
    174,321
    592,253
    (230,866)
    488,363
    959,596
    728,730
    0.56

    2.13x
    11.40x
    9.87x
    1.96x
    -24.06%
    -31.68%

    BLAINE KITCHENWARE
    Exhibit 4Contemporaneous Capital Market Data: April 21, 2007
    Yields on US Treasury Securities
    Maturity
    30 days
    4.55%
    60 days
    4.73%
    90 days
    4.91%
    1 year
    4.90%
    5 years
    4.91%
    10 years
    5.02%
    20 years
    5.26%
    30 years
    5.10%
    Seasoned corporate bond yields
    Moody's Aaa
    5.88%
    Aa
    6.04%
    A
    6.35%
    Baa
    6.72%
    Ba
    7.88%
    B
    8.94%

    Default spread
    0.86%
    1.02%
    1.33%
    1.70%
    2.86%
    3.92%

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy