Sample Reports - MMAS Financial Template and Middle Market Internal Rating Template

MOODYS KMV riskanalyst
Sample Reports
MMAS Financial Template and Middle

Market Internal Rating Template
Copyright 2006 Moodys KMV Company. All rights reserved.

Moodys KMV, RiskAnalyst, Credit Monitor, Risk Advisor, CreditEdge, LossCalc, RiskCalc, Decisions, Benchmark,
Expected Default Frequency, and EDF are trademarks of MIS Quality Management Corp. used under license.
All other trademarks are the property of their respective owners.
Acknowledgements:
We would like to thank everyone at Moodys KMV who contributed to this document.
Published by:
Moodys KMV Company
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San Francisco, CA 94105 USA
Phone: +1.415.874.6000
Fax: +1.415.874.6799
Author: MKMV
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RiskAnalyst MMAS Financial Template and Middle Market Internal Rating Template
Sample Reports
Table of Contents
Financial Package Reports ........................................................................................................................................................4
Financial Reports .................................................................................................................................................................4
Detailed Balance Sheet Actual............................................................................................................................................5
Detailed Comprehensive Income Statement Actual............................................................................................................6
Detailed Income Statement % ...........................................................................................................................................7
Detailed Balance Sheet Actual and %.................................................................................................................................8
Detailed Comprehensive Income Statement Actual and %.................................................................................................9
Detailed Income Statement Exchange Rate......................................................................................................................10
Detailed Income Statement Trend...................................................................................................................................11
Detailed Reconciliations .....................................................................................................................................................12
Detailed UCA Cash Flow ...................................................................................................................................................13
Detailed FAS 95 Stmt of Cash Flows (Indirect) ..................................................................................................................15
Detailed Ratios ...................................................................................................................................................................16
Cash Flow Management .....................................................................................................................................................17
Summary Balance Sheet Actual........................................................................................................................................18
Summary Comprehensive Income Statement Actual........................................................................................................19
Summary Income Statement % .......................................................................................................................................20
Summary Balance Sheet Actual and %.............................................................................................................................21
Summary Comprehensive Income Statement Actual and %.............................................................................................22
Summary Reconciliations ...................................................................................................................................................23
Summary UCA Cash Flow .................................................................................................................................................24
Summary FAS 95 Stmt of Cash Flows (Indirect) ................................................................................................................25
Summary Ratios .................................................................................................................................................................26
Summary Cash Flow Management .....................................................................................................................................27
Executive Financial Statement Actual and % ...................................................................................................................28
Executive Reconciliations & Ratios.....................................................................................................................................29
Executive FAS 95 Stmt of Cash Flows (Indirect).................................................................................................................30
Asset Based Lending Report................................................................................................................................................31
Balance Sheet Account Assumptions...................................................................................................................................32
Income Statement Account Assumptions............................................................................................................................33
Quick Projection Variables .................................................................................................................................................34
Peer Comparison Reports...................................................................................................................................................35
Peer Comparison Detailed Balance Sheet Actual...........................................................................................................36
Peer Comparison Detailed Income Statement % .............................................................................................................37
Peer Comparison Detailed Income Sheet Actual and % ................................................................................................38
Peer Comparison Summary Balance Sheet Actual .........................................................................................................39
Peer Comparison Summary Income Statement %.........................................................................................................40
Peer Comparison Summary Income Statement Actual and % .......................................................................................41
Moodys KMV Sample Reports
Page 1
Peer Comparison Executive Financial Statement Actual................................................................................................42

Peer Comparison Executive Financial Statement % ......................................................................................................43
Peer Comparison Ratios ..................................................................................................................................................44
Peer Comparison Comparison of Industry Values............................................................................................................45
Consultant Reports ............................................................................................................................................................47
Quick Call Summary..........................................................................................................................................................48
Focus Questions Report......................................................................................................................................................49
Cash Flow Summary ..........................................................................................................................................................50
Financial Statements Alerts.................................................................................................................................................52
Summary of Financial Parameters.......................................................................................................................................53
EDF Measures Reports.......................................................................................................................................................54
RiskCalc for Private Firm ...................................................................................................................................................55
Credit Edge ........................................................................................................................................................................57
Long-Term Projection Reports...........................................................................................................................................59
Long-Term Projections: Detailed Balance Sheet Actual....................................................................................................60
Long-Term Projections: Detailed Comprehensive Income Statement Actual....................................................................61
Long-Term Projections: Detailed Balance Sheet Actual and %.........................................................................................62
Long-Term Projections: Detailed Comprehensive Income Statement Actual and %.........................................................63
Long-Term Projections: Detailed Income Statement Exchange Rate................................................................................64
Long-Term Projections: Detailed Income Statement Trend.............................................................................................65
Long-Term Projections: Detailed UCA Cash Flow .............................................................................................................66
Long-Term Projections: Detailed FAS 95 Stmt of Cash Flows (Indirect) ............................................................................67
Long-Term Projections: Cash Flow Management ...............................................................................................................68
Long-Term Projections: Summary Income Statement Actual and %................................................................................69
Long-Term Projections: Summary FAS 95 Stmt of Cash Flows (Direct).............................................................................70
Long-Term Projections: Summary Ratios ...........................................................................................................................71
Long-Term Projections: Executive Financial Statement Actual and % .............................................................................72
Long-Term Projections: Executive FAS 95 Stmt of Cash Flows (Direct) .............................................................................73
Long-Term Projections: RiskCalc for Private Firm Version 3.1...........................................................................................74
Short-Term Projection Reports ..........................................................................................................................................76
Short-Term Projections: Detailed Income Statement Actual ............................................................................................77
Short-Term Projections: Detailed Reconciliations...............................................................................................................78
Short-Term Projections: Detailed FAS 95 Stmt of Cash Flows (Direct) ..............................................................................79
Short-Term Projections: Detailed Ratios.............................................................................................................................81
Short-Term Projections: Summary Balance Sheet Actual .................................................................................................82
Short-Term Projections: Summary Comprehensive Income Statement Actual .................................................................83
Short-Term Projections: Summary UCA Cash Flow...........................................................................................................84
Short-Term Projections: FAS 95 Stmt of Cash Flows (Indirect)..........................................................................................85
Short-Term Projections: Summary Cash Flow Management...............................................................................................86
Short-Term Projections: Executive Reconciliations & Ratios ..............................................................................................87
Short-Term Projections: Executive FAS 95 Stmt of Cash Flows (Indirect) ..........................................................................89
Page 2
Short-Term Projections: Credit Compliance Report ...........................................................................................................90

Short-Term Projections: Balance Sheet Account Assumptions ............................................................................................91
Short-Term Projections: Quick Projection Variables...........................................................................................................94
Miscellaneous Reports........................................................................................................................................................95
Chart of Accounts ..............................................................................................................................................................96
User-Defined Analyses......................................................................................................................................................100
Added and Relabeled Accounts.........................................................................................................................................100
Ratings Package Reports.......................................................................................................................................................101
Ratings Summary .............................................................................................................................................................102
Scorecard Detail ...............................................................................................................................................................103
Facility Summary Committed........................................................................................................................................105
Facility Summary Proposed ...........................................................................................................................................106
Facility Details Committed............................................................................................................................................107
Facility Details Proposed ...............................................................................................................................................108
Scorecard Detail (Explanation) .........................................................................................................................................109
Facility Explanation Report Committed ........................................................................................................................111
Facility Explanation Report Proposed ............................................................................................................................114
Moodys KMV SupportLine .................................................................................................................................................117
Page 3
FINANCIAL PACKAGE REPORTS

FINANCIAL REPORTS
Financial Reports in the RiskAnalyst General Business Financial Template (MMAS) are used to analyze the historical trends of
the borrower financial statement data. Financial Reports are available in the following formats:
Detailed prints all accounts from the borrowers financial statements, including added and relabeled accounts.
Summary summarizes the borrowers financial statements into primary financial reporting classifications.
Executive summarizes the borrowers financial statements into very high-level financial reporting classifications.
In addition to the sample Financial Reports shown in this document, the following reports are also available:
1.
Detailed Income Statement Actual
2.
Detailed Balance Sheet %
3.
Detailed Comprehensive Income Statement %
4.
Detailed Income Statement Actual and %
5.
Detailed Balance Sheet Exchange Rate
6.
Detailed Balance Sheet Trend
7.
Detailed FAS 95 Stmt of Cash Flows (Direct)
8.
Summary Income Statement Actual
9.
Summary Balance Sheet %
10.
Summary Comprehensive Income Statement %
11.
Summary Income Statement Actual and %
12.
Summary FAS 95 Stmt of Cash Flows (Direct)
13.
Executive Financial Statement Actual
14.
Executive Financial Statement %
15.
Executive FAS 95 Stmt of Cash Flows (Direct)
16.
Notes to Financial Statements
17.
Credit Compliance Report
Page 4
Detailed Balance Sheet Actual

MMAS Sample Customer (MMASSample)
Detailed Balance Sheet - Actual
Industry Classification: NAICS Code: 315228
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Audit Mthd
Unqualif'd Unqualif'd Unqualif'd Unqualif'd Unqualif'd
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Source Currency: USD United States Dollars
CURRENT ASSETS
Cash
Accts/Notes Rec-Trade
Bad Debt Reserve (-)
Target Currency: USD United States Dollars
71
1,424
54
1,370
1,936
88
3,465
121
1,744
54
1,690
2,211
77
4,099
144
1,669
64
1,605
2,141
59
3,949
90
1,842
86
1,756
2,610
119
4,575
75
1,698
90
1,608
3,056
131
4,870
1,644
182
1,826
1,161
665
12
42
719
4,184
1,885
282
2,167
1,412
755
14
122
891
4,990
1,922
356
2,278
1,675
603
18
66
687
4,636
2,011
421
2,432
1,912
520
20
20
560
5,135
2,957
568
3,525
2,205
1,320
22
22
1,364
6,234
433
199
651
277
1,560
1,200
226
832
236
2,494
1,148
142
583
214
30
2,117
1,134
115
980
222
2,451
1,475
169
1,139
281
3,064
907
907
860
860
630
630
492
492
1,347
1,347
2,467
3,354
2,747
2,943
4,411
TOTAL NET WORTH

TOTAL LIABILITIES & NET WORTH
17
1,700
1,717
4,184
17
1,619
1,636
4,990
17
1,872
1,889
4,636
17
2,175
2,192
5,135
17
1,806
1,823
6,234
1,905
1,717
1,605
1,636
1,832
1,889
2,124
2,192
1,806
1,823
Total Accts/Rec-Net
Inventory
Prepaid Expenses
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
Property Plant & Equipment
Furniture, Fixtures & Vehicles
Gross Fixed Assets

Accumulated Deprec (-)
Total Fixed Assets - Net

Cash Value Life Insurance
Other Assets
TOTAL NON-CURRENT ASSETS

TOTAL ASSETS
CURRENT LIABILITIES
Note Payable - Bank
CPLTD-Bank
Accounts Payable-Trade
Accrued Expenses
Income Taxes Payable
TOTAL CURRENT LIABILITIES
NON-CURRENT LIABILITIES
Long Term Debt
TOTAL NON-CURRENT
LIABILITIES
TOTAL LIABILITIES
NET WORTH
Common Stock
Retained Earnings
Working Capital
Tang Net Worth-Actual
Prepared: 17:58, 9/22/2005

Amounts Printed in: Thousands
MMAS (3.1.6.0)
Page 5
Detailed Comprehensive Income Statement Actual

Detailed Comprehensive Income Statement - Actual
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Audit Mthd
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Net Sales - Manufacturing Division

Net Sales - Catalog Division
NET SALES/REVENUE
9,785
126
9,911
9,523
445
9,968
9,477
1,058
10,535
9,564
2,284
11,848
9,317
3,102
12,419
Cost of Goods Sold

Cost of Goods Sold - Depreciation
7,311
155
7,466
2,445
7,477
209
7,686
2,282
7,739
239
7,978
2,557
8,552
224
8,776
3,072
9,468
273
9,741
2,678
1,843
19
1,862
583
2,032
15
2,047
235
2,114
13
2,127
430
2,454
17
2,471
601
2,755
21
2,776
(98)
68
14
42
(12)
571
126
46
2
(78)
157
147
47
(100)
330
153
32
13
(108)
493
306
35
(271)
(369)
NET PROFIT
122
449
31
126
77
253
144
349
(369)
EBIT
EBITDA
EBIDA
639
813
691
283
507
476
477
729
652
646
887
743
(63)
231
231
COMPREHENSIVE INCOME
449
126
253
349
(369)
Dividends - Common
Adj to Retained Earnings
(27)
(40)
(207)
(46)
TOTAL COST OF SALES/REV
GROSS PROFIT
SG & A Expense
Depreciation
TOTAL OPERATING EXPENSE
NET OPERATING PROFIT

Interest Expense (-)
Other Income
Gain(Loss) on Asset Sale
TOTAL OTHER INCOME(EXP)
PROFIT BEFORE TAXES

Current Income Tax
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 6
Detailed Income Statement %

Detailed Income Statement - %
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Audit Mthd
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual

NET SALES/REVENUE
98.7
1.3
100.0
95.5
4.5
100.0
90.0
10.0
100.0
80.7
19.3
100.0
75.0
25.0
100.0
Cost of Goods Sold

73.8
1.6
75.3
24.7
75.0
2.1
77.1
22.9
73.5
2.3
75.7
24.3
72.2
1.9
74.1
25.9
76.2
2.2
78.4
21.6
18.6
0.2
18.8
5.9
20.4
0.2
20.5
2.4
20.1
0.1
20.2
4.1
20.7
0.1
20.9
5.1
22.2
0.2
22.4
(0.8)
0.7
0.1
0.4
(0.1)
5.8
1.3
0.5
(0.8)
1.6
1.4
0.4
(0.9)
3.1
1.3
0.3
0.1
(0.9)
4.2
2.5
0.3
(2.2)
(3.0)
NET PROFIT
1.2
4.5
0.3
1.3
0.7
2.4
1.2
2.9
(3.0)
EBIT
EBITDA
EBIDA
6.4
8.2
7.0
2.8
5.1
4.8
4.5
6.9
6.2
5.5
7.5
6.3
(0.5)
1.9
1.9
GROSS PROFIT
SG & A Expense
Depreciation

Other Income
PROFIT BEFORE TAXES

Current Income Tax
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 7
Detailed Balance Sheet Actual and %

Detailed Balance Sheet - Actual and %
Statement Date
6/30/2001
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
CURRENT ASSETS
Cash
Total Accts/Rec-Net
Inventory
Prepaid Expenses
TOTAL CURRENT
ASSETS
NON-CURRENT ASSETS
Property Plant &
Equipment
Furniture, Fixtures &
Vehicles
Gross Fixed Assets


Other Assets
TOTAL NON-CURRENT
ASSETS
TOTAL ASSETS
CURRENT LIABILITIES
Note Payable - Bank
CPLTD-Bank
Accrued Expenses
TOTAL CURRENT
LIABILITIES
Long Term Debt
TOTAL NON-CURRENT
LIABILITIES
TOTAL LIABILITIES
NET WORTH
Common Stock
Retained Earnings
TOTAL NET WORTH

TOTAL LIABILITIES &
NET WORTH
Working Capital
6/30/2002
12
Unqualif'd
KPMG
GJH
Annual
6/30/2003
12
Unqualif'd
KPMG
GJH
Annual
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
71
1,424
54
1,370
1,936
88
3,465
1.7
34.0
1.3
32.7
46.3
2.1
82.8
121
1,744
54
1,690
2,211
77
4,099
2.4
34.9
1.1
33.9
44.3
1.5
82.1
144
1,669
64
1,605
2,141
59
3,949
3.1
36.0
1.4
34.6
46.2
1.3
85.2
90
1,842
86
1,756
2,610
119
4,575
1.8
35.9
1.7
34.2
50.8
2.3
89.1
75
1,698
90
1,608
3,056
131
4,870
1.2
27.2
1.4
25.8
49.0
2.1
78.1
1,644
39.3
1,885
37.8
1,922
41.5
2,011
39.2
2,957
47.4
182
4.3
282
5.7
356
7.7
421
8.2
568
9.1
1,826
1,161
665
12
42
719
43.6
27.7
15.9
0.3
1.0
17.2
2,167
1,412
755
14
122
891
43.4
28.3
15.1
0.3
2.4
17.9
2,278
1,675
603
18
66
687
49.1
36.1
13.0
0.4
1.4
14.8
2,432
1,912
520
20
20
560
47.4
37.2
10.1
0.4
0.4
10.9
3,525
2,205
1,320
22
22
1,364
56.5
35.4
21.2
0.4
0.4
21.9
4,184
100.0
4,990
100.0
4,636
100.0
5,135
100.0
6,234
100.0
433
199
651
277
1,560
10.3
4.8
15.6
6.6
37.3
1,200
226
832
236
2,494
24.0
4.5
16.7
4.7
50.0
1,148
142
583
214
30
2,117
24.8
3.1
12.6
4.6
0.6
45.7
1,134
115
980
222
2,451
22.1
2.2
19.1
4.3
47.7
1,475
169
1,139
281
3,064
23.7
2.7
18.3
4.5
49.1
907
907
21.7
21.7
860
860
17.2
17.2
630
630
13.6
13.6
492
492
9.6
9.6
1,347
1,347
21.6
21.6
2,467
59.0
3,354
67.2
2,747
59.3
2,943
57.3
4,411
70.8
17
1,700
1,717
4,184
0.4
40.6
41.0
100.0
17
1,619
1,636
4,990
0.3
32.4
32.8
100.0
17
1,872
1,889
4,636
0.4
40.4
40.7
100.0
17
2,175
2,192
5,135
0.3
42.4
42.7
100.0
17
1,806
1,823
6,234
0.3
29.0
29.2
100.0
1,905
1,717
45.5
41.0
1,605
1,636
32.2
32.8
1,832
1,889
39.5
40.7
2,124
2,192
41.4
42.7
1,806
1,823
29.0
29.2
Page 8
Detailed Comprehensive Income Statement Actual and %

Detailed Comprehensive Income Statement - Actual and %
Statement Date
6/30/2001
6/30/2002
Months Covered
12
12
Audit Mthd
Unqualif'd
Unqualif'd
Accountant
KPMG
KPMG
Analyst
GJH
GJH
Stmt Type
Annual
Annual
6/30/2003
12
Unqualif'd
KPMG
GJH
Annual
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
Net Sales - Manufacturing

Division
NET SALES/REVENUE
9,785
98.7
9,523
95.5
9,477
90.0
9,564
80.7
9,317
75.0
126
9,911
1.3
100.0
445
9,968
4.5
100.0
1,058
10,535
10.0
100.0
2,284
11,848
19.3
100.0
3,102
12,419
25.0
100.0
Cost of Goods Sold

Cost of Goods Sold Depreciation
7,311
155
73.8
1.6
7,477
209
75.0
2.1
7,739
239
73.5
2.3
8,552
224
72.2
1.9
9,468
273
76.2
2.2
7,466
75.3
7,686
77.1
7,978
75.7
8,776
74.1
9,741
78.4
2,445
24.7
2,282
22.9
2,557
24.3
3,072
25.9
2,678
21.6
1,843
19
1,862
18.6
0.2
18.8
2,032
15
2,047
20.4
0.2
20.5
2,114
13
2,127
20.1
0.1
20.2
2,454
17
2,471
20.7
0.1
20.9
2,755
21
2,776
22.2
0.2
22.4
583
5.9
235
2.4
430
4.1
601
5.1
(98)
(0.8)
68
14
42
(12)
0.7
0.1
0.4
(0.1)
126
46
2
(78)
1.3
0.5
(0.8)
147
47
(100)
1.4
0.4
(0.9)
153
32
13
(108)
1.3
0.3
0.1
(0.9)
306
35
(271)
2.5
0.3
(2.2)
571
5.8
157
1.6
330
3.1
493
4.2
(369)
(3.0)
NET PROFIT
122
449
1.2
4.5
31
126
0.3
1.3
77
253
0.7
2.4
144
349
1.2
2.9
(369)
(3.0)
EBIT
EBITDA
EBIDA
639
813
691
6.4
8.2
7.0
283
507
476
2.8
5.1
4.8
477
729
652
4.5
6.9
6.2
646
887
743
5.5
7.5
6.3
(63)
231
231
(0.5)
1.9
1.9
449
4.5
126
1.3
253
2.4
349
2.9
(369)
(3.0)
Dividends - Common
(27)
(40)
(207)
(46)
TOTAL COST OF
SALES/REV
GROSS PROFIT
SG & A Expense
Depreciation
TOTAL OPERATING
EXPENSE

Other Income
TOTAL OTHER
INCOME(EXP)
PROFIT BEFORE TAXES

Current Income Tax
Page 9
Detailed Income Statement Exchange Rate

Detailed Income Statement - Exchange Rate
Statement Date
6/30/2001
6/30/2002
Months Covered
12
12
Audit Mthd
Unqualif'd
Unqualif'd
Accountant
KPMG
KPMG
Analyst
GJH
GJH
Stmt Type
Annual
Annual
Currency
Target
Source
Target
Exchange Rate
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
Source
Target
1.00000

Division
6/30/2003
12
Unqualif'd
KPMG
GJH
Annual
Source
Target
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
Source
Target
Source
1.00000
1.00000
1.00000
1.00000
9,785
9,785
9,523
9,523
9,477
9,477
9,564
9,564
9,317
9,317
126
9,911
126
9,911
445
9,968
445
9,968
1,058
10,535
1,058
10,535
2,284
11,848
2,284
11,848
3,102
12,419
3,102
12,419
Cost of Goods Sold

7,311
155
7,311
155
7,477
209
7,477
209
7,739
239
7,739
239
8,552
224
8,552
224
9,468
273
9,468
273
GROSS PROFIT
7,466
2,445
7,466
2,445
7,686
2,282
7,686
2,282
7,978
2,557
7,978
2,557
8,776
3,072
8,776
3,072
9,741
2,678
9,741
2,678
1,843
19
1,862
1,843
19
1,862
2,032
15
2,047
2,032
15
2,047
2,114
13
2,127
2,114
13
2,127
2,454
17
2,471
2,454
17
2,471
2,755
21
2,776
2,755
21
2,776
583
583
235
235
430
430
601
601
(98)
(98)
68
14
42
(12)
68
14
42
(12)
126
46
2
(78)
126
46
2
(78)
147
47
(100)
147
47
(100)
153
32
13
(108)
153
32
13
(108)
306
35
(271)
306
35
(271)
571
571
157
157
330
330
493
493
(369)
(369)
NET PROFIT
122
449
122
449
31
126
31
126
77
253
77
253
144
349
144
349
(369)
(369)
EBIT
EBITDA
EBIDA
639
813
691
639
813
691
283
507
476
283
507
476
477
729
652
477
729
652
646
887
743
646
887
743
(63)
231
231
(63)
231
231
Dividends - Common
(27)
(40)
(27)
(40)
(207)
(207)
(46)
(46)
NET SALES/REVENUE
SG & A Expense
Depreciation
TOTAL OPERATING
EXPENSE

Other Income
TOTAL OTHER
INCOME(EXP)
PROFIT BEFORE TAXES

Current Income Tax
Page 10
Detailed Income Statement Trend

Detailed Income Statement - Trend
Statement Date
6/30/2001
6/30/2002
Months Covered
12
12
Audit Mthd
Unqualif'd
Unqualif'd
Accountant
KPMG
KPMG
Analyst
GJH
Trend
GJH
Stmt Type
Annual
% Chg
Annual
Division
NET SALES/REVENUE
126
9,911
Cost of Goods Sold

7,311
155
GROSS PROFIT
7,466
2,445
SG & A Expense
Depreciation
TOTAL OPERATING
EXPENSE

Other Income
TOTAL OTHER
INCOME(EXP)
PROFIT BEFORE TAXES

Current Income Tax
1,843
19
1,862
583
68
14
42
(12)
571
6/30/2004
12
Unqualif'd
KPMG
Trend
GJH
% Chg
Annual
9,785
6/30/2003
12
Unqualif'd
KPMG
Trend
GJH
% Chg
Annual
9,523
(2.7)
9,477
(0.5)
9,564
0.9
9,317
(2.6)
445
9,968
253.2
0.6
1,058
10,535
137.8
5.7
2,284
11,848
115.9
12.5
3,102
12,419
35.8
4.8
7,477
209
2.3
34.8
7,739
239
3.5
14.4
8,552
224
10.5
(6.3)
9,468
273
10.7
21.9
7,686
2,282
2.9
(6.7)
7,978
2,557
3.8
12.1
8,776
3,072
10.0
20.1
9,741
2,678
11.0
(12.8)
2,032
15
2,047
10.3
(21.1)
9.9
2,114
13
2,127
4.0
(13.3)
3.9
2,454
17
2,471
16.1
30.8
16.2
2,755
21
2,776
12.3
23.5
12.3
235
(59.7)
430
83.0
601
39.8
(98)
(116.3)
126
46
2
(78)
85.3
228.6
(95.2)
550.0
147
47
(100)
16.7
2.2
(100.0)
28.2
153
32
13
(108)
4.1
(31.9)
8.0
306
35
(271)
100.0
9.4
(100.0)
150.9
157
(72.5)
330
110.2
493
49.4
(369)
(174.8)
31
126
(74.6)
(71.9)
77
253
148.4
100.8
144
349
87.0
37.9
(369)
(100.0)
(205.7)
35.4
21.7
14.0
(63)
231
231
(109.8)
(74.0)
(68.9)
(100.0)
NET PROFIT
122
449
EBIT
EBITDA
EBIDA
639
813
691
283
507
476
(55.7)
(37.6)
(31.1)
477
729
652
68.6
43.8
37.0
646
887
743
Dividends - Common
(27)
(40)
(207)
666.7
(100.0)
(100.0)
(46)
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
12
Unqualif'd
KPMG
Trend
GJH
Trend
% Chg
Annual
% Chg
Page 11
Detailed Reconciliations
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Reconciliation of Retained Earnings
BEGINNING RETAINED EARNINGS,

AS PREVIOUSLY REPORTED
1,700
1,619
BEG RET. EARNINGS, RESTATED

1,700
1,619
Net Profit
126
253
Dividends - Common
(207)
ENDING RETAINED EARNINGS
1,619
1,872
Reconciliation of Net Worth
BEGINNING NET WORTH

1,717
1,636
Net Profit
126
253
Div & Withdrawals-Cash
(207)
ACTUAL ENDING NET WORTH
1,636
1,889
INCR(DECR) IN NET WORTH
(81)
253
Reconciliation of Working Capital
BEGINNING WORKING CAPITAL

1,905
1,605
Decrease(Increase) in Non-Current Assets:
Total Fixed Assets-Net
(90)
152
(2)
(4)
Other Assets
(80)
56
Increase(Decrease) in Non-Current Liabilities:
Long Term Debt
(47)
(230)
Increase(Decrease) in Net Worth
(81)
253
ENDING WORKING CAPITAL
1,605
1,832
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
1,872
1,872
349
(46)
2,175
2,175
2,175
(369)
1,806
1,889
349
(46)
2,192
303
2,192
(369)
1,823
(369)
1,832
2,124
83
(2)
46
(800)
(2)
(2)
(138)
303
2,124
855
(369)
1,806
Page 12
Detailed UCA Cash Flow

Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Chg in Accts/Notes Rec-Trade
Chg in Bad Debt Reserve (-)
Cash Collected From Sales
9,523
445
(320)
9,648
9,477
1,058
75
10
10,620
9,564
2,284
(173)
22
11,697
9,317
3,102
144
4
12,567
(7,477)
(275)
181
(7,571)
(7,739)
70
(249)
(7,918)
(8,552)
(469)
397
(8,624)
(9,468)
(446)
159
(9,755)
2,077
2,702
3,073
2,812
(2,032)
11
(41)
(2,062)
15
(2,114)
18
(22)
(2,118)
584
(2,454)
(60)
8
(2,506)
567
(2,755)
(12)
59
(2,708)
104
46
(31)
15
30
47
(77)
30
584
32
(144)
(30)
(142)
425
35
35
139
(126)
(207)
(333)
(303)
(147)
(147)
437
(153)
(46)
(199)
226
(306)
(306)
(167)
(199)
(199)
(502)
(226)
(226)
211
(142)
(142)
84
(115)
(115)
(282)
Chg in Property Plant & Equipment

Chg in Furniture, Fixtures &
Vehicles
Chg in Accumulated Deprec (-)
Depreciation
Chg in Net Fixed Assets
(241)
(100)
(37)
(74)
(89)
(65)
(946)
(147)
251
(209)
(15)
2
(312)
263
(239)
(13)
(100)
237
(224)
(17)
13
(145)
293
(273)
(21)
(1,094)
Chg in Cash Value Life Insurance

Chg in Other Assets
(2)
(80)
(82)
(4)
56
52
(2)
46
44
(2)
(2)
(4)
(394)
(48)
(101)
(1,098)
Cost of Goods Sold

Chg in Inventory
Chg in Accounts Payable-Trade
Cash Paid To Suppliers
CASH FROM TRADING

ACTIVITIES
SG & A Expense
Chg in Prepaid Expenses
Chg in Accrued Expenses
Cash Paid for Operating Costs
CASH AFTER OPERATIONS

Other Income
Current Income Tax
Chg in Income Taxes Payable
Other Income(Exp) & Taxes Paid
NET CASH AFTER OPERATIONS

Dividends - Common
Cash Paid for Dividends & Interest
NET CASH INCOME

CPLTD-Bank
Current Portion Long Term Debt
CASH AFTER DEBT AMORT.
Chg in Investments
Cash Paid for Plant and Investments
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 13
FINANCING SURPLUS
(REQMNTS)
Chg in Note Payable - Bank
Chg in Long Term Debt
Total External Financing
CASH AFTER FINANCING

Add:
Cash
ENDING CASH & EQUIVALENTS
(896)
163
(17)
(1,380)
767
179
946
50
(52)
(88)
(140)
23
(14)
(23)
(37)
(54)
341
1,024
1,365
(15)
71
121
121
144
144
90
90
75
Page 14
Detailed FAS 95 Stmt of Cash Flows (Indirect)

Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income
126
253
349
(369)
209
15
(2)
(320)
(275)
11
181
(41)
(222)
239
13
75
10
70
18
(249)
(22)
30
184
224
17
(13)
(173)
22
(469)
(60)
397
8
(30)
(77)
273
21
144
4
(446)
(12)
159
59
202
(96)
437
272
(167)
CASH FLOWS FROM INVESTING ACTIVITIES:

Chg in Furniture, Fixtures & Vehicles
Depreciation
(241)
(100)
251
(209)
(15)
2
(312)
(37)
(74)
263
(239)
(13)
(100)
(89)
(65)
237
(224)
(17)
13
(145)
(946)
(147)
293
(273)
(21)
(1,094)
(2)
(80)
(82)
(4)
56
52
(2)
46
44
(2)
(2)
(4)
NET CASH USED IN INVESTING
(394)
(48)
(101)
(1,098)
CASH FLOWS FROM FINANCING ACTIVITIES:

Chg in CPLTD-Bank
Net Chg in Borrowings

Dividends - Common
NET CASH PROV BY FINANCING
767
27
(47)
747
(207)
540
(52)
(84)
(230)
(366)
(366)
(14)
(27)
(138)
(179)
(46)
(225)
341
54
855
1,250
1,250
50
23
(54)
(15)
71
121
121
144
144
90
90
75
Reconciling Items
Depreciation
Chg in Inventory
Total Adjustments
NET CASH PROVIDED

BY OPERATIONS

Chg in Other Assets
Chg in Investments
CHANGE IN CASH & EQUIV.

Add:
Cash
CASH AND EQUIVALENTS AT EOP
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 15
Detailed Ratios
Detailed Ratios
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
LIQUIDITY
Working Capital
Quick Ratio
Current Ratio
Net Sales/Working Capital
1,905
0.92
2.22
5.20
1,605
0.73
1.64
6.21
1,832
0.83
1.87
5.75
2,124
0.75
1.87
5.58
1,806
0.55
1.59
6.88
LEVERAGE
Net Worth-Actual
Eff Tang Net Worth-Actual
Debt/Worth
Debt/Tang Worth
Debt Less Sub Debt-Liability/Eff Tg Wth
Borrowed Funds/Eff Tg Worth
LT Debt/Net Fixed Assets
Total Liabilities/Total Assets
1,717
1,717
1,717
1.44
1.44
1.44
0.90
1.66
0.59
1,636
1,636
1,636
2.05
2.05
2.05
1.40
1.44
0.67
1,889
1,889
1,889
1.45
1.45
1.45
1.02
1.28
0.59
2,192
2,192
2,192
1.34
1.34
1.34
0.79
1.17
0.57
1,823
1,823
1,823
2.42
2.42
2.42
1.64
1.15
0.71
9.40
2.99
813
691
3.04
2.25
0.63
0.72
0.05
0.06
1.44
1.56
507
476
1.44
3.24
3.56
2.23
2.02
1.57
2.52
1.95
729
652
2.52
4.22
4.73
3.83
1.35
1.25
3.31
3.01
887
743
3.31
(0.21)
(0.44)
(0.65)
0.29
0.33
0.49
0.55
231
231
0.49
PROFITABILITY (%)
Return on Assets
Return on Equity
Gross Margin
Gross Margin (plus Depr) %
Operating Expense %
Operating Expense (excl Depr) %
Operating Profit Margin
Operating Profit Margin (plus Depr) %
Net Margin
Dividend Payout Rate
Effective Tax Rate
10.73
26.15
24.67
26.23
18.79
18.60
5.88
7.64
4.53
6.01
21.37
2.53
7.70
22.89
24.99
20.54
20.39
2.36
4.60
1.26
164.29
19.75
5.46
13.39
24.27
26.54
20.19
20.07
4.08
6.47
2.40
23.33
6.80
15.92
25.93
27.82
20.86
20.71
5.07
7.11
2.95
13.18
29.21
(5.92)
(20.24)
21.56
23.76
22.35
22.18
(0.79)
1.58
(2.97)
-
ACTIVITY
Gross Accounts Receivable Days
Net Accounts Receivable Days
Inventory Days on Hand
Inventory Days on Hand (excl Depr)
Accounts Payable Days
Accounts Payable Days (excl Depr)
Net Sales/Total Assets
Net Sales/Net Worth
Net Sales/Net Fixed Assets
Profit Before Taxes/Total Assets (%)
52.44
50.45
94.65
96.65
31.83
32.50
2.37
5.77
14.90
13.65
63.86
61.88
105.00
107.93
39.51
40.62
2.00
6.09
13.20
3.15
57.82
55.61
97.95
100.98
26.67
27.50
2.27
5.58
17.47
7.12
56.75
54.10
108.55
111.39
40.76
41.83
2.31
5.41
22.78
9.60
49.90
47.26
114.51
117.81
42.68
43.91
1.99
6.81
9.41
(5.92)
32.59
19.26
35.95
(4.72)
0.58
(59.69)
(71.94)
(4.72)
(7.09)
(18.10)
15.46
5.69
82.98
100.79
15.46
10.76
7.14
16.04
12.46
39.77
37.94
16.04
21.40
49.88
(16.83)
4.82
N/A
N/A
(16.83)
COVERAGE
Interest Coverage
Net Income+Depr+Amort-Divs/CPLTD
Net Income+Depr+Amort-Divs/CPLTD pp
UCA Cash Flow Coverage
UCA Cash Flow/CPLTD pp
EBITDA/Interest Exp+CPLTD
EBITDA/Interest Exp+CPLTD pp
EBITDA
EBIDA
Fixed Charge Coverage
GROWTH (%)
Total Assets Growth
Total Liabilities Growth
Net Worth Growth
Net Sales Growth
Operating Profit Growth
Net Profit Growth
Sustainable Growth
3.04
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 16
Cash Flow Management

Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Stmt Type
Annual
Annual
Annual
Annual
Annual
CASH FLOW DRIVERS

Net Sales Growth
Accounts Receivable Days
OTHER FACTORS
Other Operating Assets
Accrued Expenses Days
Other Current Liabilities
CASH FLOW DRIVERS
5.69
26.54
20.07
55.61
100.98
27.50
12.46
27.82
20.71
54.10
111.39
41.83
4.82
23.76
22.18
47.26
117.81
43.91
88
77
59
54.86
42.39
36.95
CASH MARGIN MANAGEMENT SUMMARY
119
33.02
131
37.23
26.23
18.60
50.45
96.65
32.50
GROSS PROFIT:
BEGINNING GROSS PROFIT
Gross Profit Management
Gross Profit Growth
ENDING GROSS PROFIT (PLUS
DEPR)
0.58
24.99
20.39
61.88
107.93
40.62
2,600
(124)
15
2,491
2,491
163
142
2,796
2,796
152
348
3,296
3,296
(504)
159
2,951
(1,843)
(178)
(11)
(2,032)
(2,032)
34
(116)
(2,114)
(2,114)
(77)
(263)
(2,454)
(2,454)
(183)
(118)
(2,755)
459
682
TRADING ACCOUNT MANAGEMENT SUMMARY
CASH IMPACT OF MANAGEMENT:

Accounts Receivable
(312)
181
Inventory
(231)
147
Accounts Payable
166
(278)
Total Management - Trading Acct
(377)
50
12
22
Accruals
(69)
(32)
Total Management - Other Factors
(58)
(9)
TOTAL CASH IMPACT OF MGMT
(435)
41
842
196
OPERATING EXPENSES:
BEGINNING OPERATING EXPENSE
Operating Expense Management
Operating Expense Growth
ENDING OPER EXP (LESS DEPR)
CASH OPERATING PROFIT
CASH IMPACT OF GROWTH:

Accounts Receivable
Inventory
Accounts Payable
Total Growth - Trading Accounts
Accruals
Total Growth - Other Factors
TOTAL CASH IMPACT OF
SALES GROWTH
TOTAL TRADING ACCOUNT AND
OTHER FACTOR CHG
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
49
(244)
336
141
(53)
(26)
(79)
62
233
(166)
54
120
(6)
32
26
146
(8)
(44)
15
(37)
(1)
28
28
(96)
(77)
29
(144)
(4)
10
5
(200)
(225)
61
(364)
(7)
34
27
(85)
(280)
105
(259)
(6)
27
21
(9)
(139)
(337)
(238)
(444)
(98)
(275)
(92)
15
584
567
104
Page 17
Summary Balance Sheet Actual

Summary Balance Sheet - Actual
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Audit Mthd
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
ASSETS
Cash & Equivalents
Accts/Notes Rec-Trade (Net)
Trade Inventory
Operating Current Assets

Net Fixed Assets
Investments
Non-Op Non-Curr Assets
TOTAL ASSETS
LIABILITIES/NET WORTH
S/T Loans Payable
CPLTD-Bank
Accounts Payable - Trade
Other Accruals
Taxes Payable

Long Term Debt
TOTAL NON-CURRENT
LIABILITIES
TOTAL LIABILITIES
Stock
Retained Earnings
TOTAL NET WORTH
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
71
1,370
1,936
88
3,465
121
1,690
2,211
77
4,099
144
1,605
2,141
59
3,949
90
1,756
2,610
119
4,575
75
1,608
3,056
131
4,870
665
12
42
719
4,184
755
14
122
891
4,990
603
18
66
687
4,636
520
20
20
560
5,135
1,320
22
22
1,364
6,234
433
199
651
277
1,560
1,200
226
832
236
2,494
1,148
142
583
214
30
2,117
1,134
115
980
222
2,451
1,475
169
1,139
281
3,064
907
907
860
860
630
630
492
492
1,347
1,347
2,467
3,354
2,747
2,943
4,411
17
1,700
1,717
4,184
17
1,619
1,636
4,990
17
1,872
1,889
4,636
17
2,175
2,192
5,135
17
1,806
1,823
6,234
Page 18
Summary Comprehensive Income Statement Actual

Summary Comprehensive Income Statement - Actual
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Audit Mthd
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Sales/Revenues
9,911
9,968
10,535
11,848
12,419
Cost of Sales/Revenues
Cost of Sales - Depreciation
7,311
155
7,466
2,445
7,477
209
7,686
2,282
7,739
239
7,978
2,557
8,552
224
8,776
3,072
9,468
273
9,741
2,678
1,843
19
1,862
583
2,032
15
2,047
235
2,114
13
2,127
430
2,454
17
2,471
601
2,755
21
2,776
(98)
PROFIT BEFORE TAXES
(68)
14
42
(12)
571
(126)
46
2
(78)
157
(147)
47
(100)
330
(153)
32
13
(108)
493
(306)
35
(271)
(369)
Income Taxes
NET PROFIT
122
449
31
126
77
253
144
349
(369)
EBIT
EBITDA
EBIDA
639
813
691
283
507
476
477
729
652
646
887
743
(63)
231
231
449
126
253
349
(369)
(27)
(40)
(207)
(46)
GROSS PROFIT
S,G, & A Expense
Depreciation
TOTAL OPERATING EXP(INC)

Interest Income(Expense)
Other Income(Expense)
Gain(Loss) on Sale of Assets
Other Comprehensive Income
Cash Dividends & Withdrawals
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 19
Summary Income Statement %

Summary Income Statement - %
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004
Months Covered
12
12
12
12
Audit Mthd
Unqualif'd Unqualif'd Unqualif'd Unqualif'd
Accountant
KPMG
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Sales/Revenues
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
100.0
100.0
100.0
100.0
100.0
73.8
1.6
75.3
24.7
75.0
2.1
77.1
22.9
73.5
2.3
75.7
24.3
72.2
1.9
74.1
25.9
76.2
2.2
78.4
21.6
18.6
0.2
18.8
5.9
20.4
0.2
20.5
2.4
20.1
0.1
20.2
4.1
20.7
0.1
20.9
5.1
22.2
0.2
22.4
(0.8)
(0.7)
0.1
0.4
(0.1)
5.8
(1.3)
0.5
(0.8)
1.6
(1.4)
0.4
(0.9)
3.1
(1.3)
0.3
0.1
(0.9)
4.2
(2.5)
0.3
(2.2)
(3.0)
Income Taxes
NET PROFIT
1.2
4.5
0.3
1.3
0.7
2.4
1.2
2.9
(3.0)
EBIT
EBITDA
EBIDA
6.4
8.2
7.0
2.8
5.1
4.8
4.5
6.9
6.2
5.5
7.5
6.3
(0.5)
1.9
1.9
GROSS PROFIT
S,G, & A Expense
Depreciation

PROFIT BEFORE TAXES
Page 20
Summary Balance Sheet Actual and %

Summary Balance Sheet - Actual and %
Statement Date
6/30/2001
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
ASSETS
Cash & Equivalents
Trade Inventory

Net Fixed Assets
Investments
TOTAL NON-CURRENT
ASSETS
TOTAL ASSETS
S/T Loans Payable
CPLTD-Bank
Other Accruals
Taxes Payable
TOTAL CURRENT
LIABILITIES
Long Term Debt
TOTAL NON-CURRENT
LIABILITIES
TOTAL LIABILITIES
Stock
Retained Earnings
TOTAL NET WORTH
TOTAL LIABILITIES & NET

WORTH
6/30/2002
12
Unqualif'd
KPMG
GJH
Annual
6/30/2003
12
Unqualif'd
KPMG
GJH
Annual
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
71
1,370
1,936
88
3,465
1.7
32.7
46.3
2.1
82.8
121
1,690
2,211
77
4,099
2.4
33.9
44.3
1.5
82.1
144
1,605
2,141
59
3,949
3.1
34.6
46.2
1.3
85.2
90
1,756
2,610
119
4,575
1.8
34.2
50.8
2.3
89.1
75
1,608
3,056
131
4,870
1.2
25.8
49.0
2.1
78.1
665
12
42
719
15.9
0.3
1.0
17.2
755
14
122
891
15.1
0.3
2.4
17.9
603
18
66
687
13.0
0.4
1.4
14.8
520
20
20
560
10.1
0.4
0.4
10.9
1,320
22
22
1,364
21.2
0.4
0.4
21.9
4,184
100.0
4,990
100.0
4,636
100.0
5,135
100.0
6,234
100.0
433
199
651
277
1,560
10.3
4.8
15.6
6.6
37.3
1,200
226
832
236
2,494
24.0
4.5
16.7
4.7
50.0
1,148
142
583
214
30
2,117
24.8
3.1
12.6
4.6
0.6
45.7
1,134
115
980
222
2,451
22.1
2.2
19.1
4.3
47.7
1,475
169
1,139
281
3,064
23.7
2.7
18.3
4.5
49.1
907
907
21.7
21.7
860
860
17.2
17.2
630
630
13.6
13.6
492
492
9.6
9.6
1,347
1,347
21.6
21.6
2,467
59.0
3,354
67.2
2,747
59.3
2,943
57.3
4,411
70.8
17
1,700
1,717
4,184
0.4
40.6
41.0
100.0
17
1,619
1,636
4,990
0.3
32.4
32.8
100.0
17
1,872
1,889
4,636
0.4
40.4
40.7
100.0
17
2,175
2,192
5,135
0.3
42.4
42.7
100.0
17
1,806
1,823
6,234
0.3
29.0
29.2
100.0
Page 21
Summary Comprehensive Income Statement Actual and %

Summary Comprehensive Income Statement - Actual and %
Statement Date
6/30/2001
6/30/2002
Months Covered
12
12
Audit Mthd
Unqualif'd
Unqualif'd
Accountant
KPMG
KPMG
Analyst
GJH
GJH
Stmt Type
Annual
Annual
Sales/Revenues
6/30/2003
12
Unqualif'd
KPMG
GJH
Annual
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
9,911
100.0
9,968
100.0
10,535
100.0
11,848
100.0
12,419
100.0
7,311
155
73.8
1.6
7,477
209
75.0
2.1
7,739
239
73.5
2.3
8,552
224
72.2
1.9
9,468
273
76.2
2.2
7,466
75.3
7,686
77.1
7,978
75.7
8,776
74.1
9,741
78.4
2,445
24.7
2,282
22.9
2,557
24.3
3,072
25.9
2,678
21.6
1,843
19
1,862
18.6
0.2
18.8
2,032
15
2,047
20.4
0.2
20.5
2,114
13
2,127
20.1
0.1
20.2
2,454
17
2,471
20.7
0.1
20.9
2,755
21
2,776
22.2
0.2
22.4
583
5.9
235
2.4
430
4.1
601
5.1
(98)
(0.8)
(68)
14
42
(0.7)
0.1
0.4
(126)
46
2
(1.3)
0.5
-
(147)
47
-
(1.4)
0.4
-
(153)
32
13
(1.3)
0.3
0.1
(306)
35
-
(2.5)
0.3
-
(12)
(0.1)
(78)
(0.8)
(100)
(0.9)
(108)
(0.9)
(271)
(2.2)
PROFIT BEFORE TAXES
571
5.8
157
1.6
330
3.1
493
4.2
(369)
(3.0)
Income Taxes
NET PROFIT
122
449
1.2
4.5
31
126
0.3
1.3
77
253
0.7
2.4
144
349
1.2
2.9
(369)
(3.0)
EBIT
EBITDA
EBIDA
639
813
691
6.4
8.2
7.0
283
507
476
2.8
5.1
4.8
477
729
652
4.5
6.9
6.2
646
887
743
5.5
7.5
6.3
(63)
231
231
(0.5)
1.9
1.9
449
4.5
126
1.3
253
2.4
349
2.9
(369)
(3.0)
Cost of Sales Depreciation
TOTAL COST OF
SALES/REV
GROSS PROFIT
S,G, & A Expense
Depreciation
TOTAL OPERATING
EXP(INC)

Gain(Loss) on Sale of
Assets
TOTAL OTHER
INCOME(EXP)
Other Comprehensive
Income
COMPREHENSIVE
INCOME
Cash Dividends &
Withdrawals
(27)
(40)
(207)
(46)
Page 22
Summary Reconciliations
Summary Reconciliations
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
BEGINNING RETAINED EARNINGS,

AS PREVIOUSLY REPORTED
1,700
1,619
BEG RET. EARNINGS, RESTATED

1,700
1,619
Net Profit
126
253
Div and Withdrawals-Cash
(207)
1,619
1,872
BEGINNING NET WORTH

1,717
1,636
Net Profit
126
253
Div and Withdrawals-Cash
(207)
1,636
1,889
(81)
253
Reconciliation of Working Captial

1,905
1,605
(90)
152
Investments
(2)
(4)
(80)
56
Long Term Debt
(47)
(230)
(81)
253
1,605
1,832
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
1,872
1,872
349
(46)
2,175
2,175
2,175
(369)
1,806
1,889
349
(46)
2,192
303
2,192
(369)
1,823
(369)
1,832
2,124
83
(2)
46
(800)
(2)
(2)
(138)
303
2,124
855
(369)
1,806
Page 23
Summary UCA Cash Flow

Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Net Sales
Chg in Accts/Notes Rec-Trade(Net)

Chg in Inventories
Chg in Accts Payable-Trade
CASH FROM TRADING ACTIVITIES

S,G&A Expense(Less Non-Cash Exp)
Chg in Prepaids/Deferreds
Chg in Accruals & Other Pay

Other Income (Expense)
Taxes - Paid in Cash
Other Income (Expense) & Taxes Paid

Interest Expense
Dividends - Paid in Cash
NET CASH INCOME

CASH AFTER DEBT AMORTIZATION

Chg in Investments
FINANCING SURPLUS (REQMNTS)

Chg in ST Loans/Other Payables
Chg in LT & Sub Debt

Add:Beginning Cash & Equivalents
9,968
(320)
9,648
(7,477)
(275)
181
(7,571)
2,077
(2,032)
11
(41)
(2,062)
15
46
(31)
15
30
10,535
85
10,620
(7,739)
70
(249)
(7,918)
2,702
(2,114)
18
(22)
(2,118)
584
47
(47)
584
11,848
(151)
11,697
(8,552)
(469)
397
(8,624)
3,073
(2,454)
(60)
8
(2,506)
567
32
(174)
(142)
425
12,419
148
12,567
(9,468)
(446)
159
(9,755)
2,812
(2,755)
(12)
59
(2,708)
104
35
35
139
(126)
(207)
(333)
(303)
(199)
(502)
(312)
(82)
(394)
(896)
767
179
946
50
71
121
(147)
(147)
437
(226)
211
(100)
52
(48)
163
(52)
(88)
(140)
23
121
144
(153)
(46)
(199)
226
(142)
84
(145)
44
(101)
(17)
(14)
(23)
(37)
(54)
144
90
(306)
(306)
(167)
(115)
(282)
(1,094)
(4)
(1,098)
(1,380)
341
1,024
1,365
(15)
90
75
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 24
Summary FAS 95 Stmt of Cash Flows (Indirect)

Statement Date
6/30/2001 6/30/2002 6/30/2003
Months Covered
12
12
12
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Net Income
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2004 6/30/2005
12
12
GJH
GJH
Annual
Annual
126
253
349
(369)
NET CASH PROV BY OPERATIONS
224
(2)
(320)
(275)
11
181
(41)
(222)
(96)
252
85
70
18
(249)
(22)
30
184
437
241
(13)
(151)
(469)
(60)
397
8
(30)
(77)
272
294
148
(446)
(12)
159
59
202
(167)

Chg in Long Term Investments
(312)
(82)
(394)
(100)
52
(48)
(145)
44
(101)
(1,094)
(4)
(1,098)

Chg in ST Loans
Chg in CP-Long Term Debt

Cash Dividends Paid
CHANGE IN CASH & EQUIVALENTS
767
27
(47)
747
(207)
540
50
(52)
(84)
(230)
(366)
(366)
23
(14)
(27)
(138)
(179)
(46)
(225)
(54)
341
54
855
1,250
1,250
(15)
71
121
121
144
144
90
90
75
Reconciling Items
Deprec & Amort
Non-Operating Income
Chg in Net Receivables
Chg in Inventories
Chg in Accts Payable-Trade & Othr
Chg in Accruals
Chg in Taxes
Total Adjustments
ADD:CASH AND EQUIVALENTS AT BOP
Page 25
Summary Ratios
Summary Ratios
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
LIQUIDITY
Working Capital
Quick Ratio
Current Ratio
1,905
0.92
2.22
5.20
1,605
0.73
1.64
6.21
1,832
0.83
1.87
5.75
2,124
0.75
1.87
5.58
1,806
0.55
1.59
6.88
LEVERAGE
Net Worth-Actual
Debt/Worth
Debt/Tang Worth
1,717
1,717
1,717
1.44
1.44
1.44
0.90
1.66
0.59
1,636
1,636
1,636
2.05
2.05
2.05
1.40
1.44
0.67
1,889
1,889
1,889
1.45
1.45
1.45
1.02
1.28
0.59
2,192
2,192
2,192
1.34
1.34
1.34
0.79
1.17
0.57
1,823
1,823
1,823
2.42
2.42
2.42
1.64
1.15
0.71
9.40
2.99
813
691
2.25
0.63
0.05
0.06
1.44
1.56
507
476
3.24
3.56
2.02
1.57
2.52
1.95
729
652
4.22
4.73
1.35
1.25
3.31
3.01
887
743
(0.21)
(0.44)
0.29
0.33
0.49
0.55
231
231
PROFITABILITY (%)
Return on Assets
Return on Equity
Gross Margin
Net Margin
10.73
26.15
24.67
4.53
2.53
7.70
22.89
1.26
5.46
13.39
24.27
2.40
6.80
15.92
25.93
2.95
(5.92)
(20.24)
21.56
(2.97)
ACTIVITY
Net Sales/Net Worth
50.45
94.65
31.83
2.37
5.77
14.90
13.65
61.88
105.00
39.51
2.00
6.09
13.20
3.15
55.61
97.95
26.67
2.27
5.58
17.47
7.12
54.10
108.55
40.76
2.31
5.41
22.78
9.60
47.26
114.51
42.68
1.99
6.81
9.41
(5.92)
19.26
35.95
(4.72)
0.58
(59.69)
(71.94)
(7.09)
(18.10)
15.46
5.69
82.98
100.79
10.76
7.14
16.04
12.46
39.77
37.94
21.40
49.88
(16.83)
4.82
N/A
N/A
COVERAGE
Interest Coverage
EBITDA
EBIDA
3.04
GROWTH (%)
Total Assets Growth
Net Worth Growth
Net Sales Growth
Net Profit Growth
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 26
Summary Cash Flow Management

Statement Date
Months Covered
Analyst
Stmt Type
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
12
12
12
12
12
GJH
GJH
GJH
GJH
GJH
Annual
Annual
Annual
Annual
Annual
UCA CASH AFTER OPERATIONS

Net Sales

Chg in Inventories

9,968
(320)
9,648
10,535
85
10,620
11,848
(151)
11,697
12,419
148
12,567
(7,477)
(275)
181
(7,571)
2,077
(7,739)
70
(249)
(7,918)
2,702
(8,552)
(469)
397
(8,624)
3,073
(9,468)
(446)
159
(9,755)
2,812
(2,032)
11
(41)
(2,062)
15
(2,114)
18
(22)
(2,118)
584
(2,454)
(60)
8
(2,506)
567
(2,755)
(12)
59
(2,708)
104
0.58
(9)
5.69
(139)
12.46
(337)
4.82
(238)
CASH IMPACT ANALYSIS

Net Sales Growth (%)
Total Cash Impact of Growth
Cash Impact of Gross Margin Mgmt
26.23
24.99
(124)
26.54
163
27.82
152
23.76
(504)

Cash Impact of Oper Exp Mgmt
18.60
20.39
(178)
20.07
34
20.71
(77)
22.18
(183)

Cash Impact of Accts Rec Days Mgmt
50.45
61.88
(312)
55.61
181
54.10
49
47.26
233

Cash Impact of Inv Days Mgmt
96.65
107.93
(231)
100.98
147
111.39
(244)
117.81
(166)

Cash Impact of A/P Days Mgmt
32.50
40.62
166
27.50
(278)
41.83
336
43.91
54
88
77
12
59
22
119
(53)
131
(6)
54.86
42.39
(69)
36.95
(32)
33.02
(26)
37.23
32

Cash Impact of Other Op Assets Mgmt
Cash Impact of Accruals Mgmt
Cash Impact of Other Current Liabilities Mgmt
Page 27
Executive Financial Statement Actual and %

Executive Financial Statement - Actual and %
Statement Date
6/30/2001
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
ASSETS
Cash & Near Cash
Accts/Notes Rec (Net)
Inventory
Other Current Assets
6/30/2002
12
Unqualif'd
KPMG
GJH
Annual
6/30/2003
12
Unqualif'd
KPMG
GJH
Annual
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
71
1,370
1,936
88
3,465
1.7
32.7
46.3
2.1
82.8
121
1,690
2,211
77
4,099
2.4
33.9
44.3
1.5
82.1
144
1,605
2,141
59
3,949
3.1
34.6
46.2
1.3
85.2
90
1,756
2,610
119
4,575
1.8
34.2
50.8
2.3
89.1
75
1,608
3,056
131
4,870
1.2
25.8
49.0
2.1
78.1
665
12
42
719
4,184
15.9
0.3
1.0
17.2
100.0
755
14
122
891
4,990
15.1
0.3
2.4
17.9
100.0
603
18
66
687
4,636
13.0
0.4
1.4
14.8
100.0
520
20
20
560
5,135
10.1
0.4
0.4
10.9
100.0
1,320
22
22
1,364
6,234
21.2
0.4
0.4
21.9
100.0
433
199
651
277
1,560
10.3
4.8
15.6
6.6
37.3
1,200
226
832
236
2,494
24.0
4.5
16.7
4.7
50.0
1,148
142
583
214
30
2,117
24.8
3.1
12.6
4.6
0.6
45.7
1,134
115
980
222
2,451
22.1
2.2
19.1
4.3
47.7
1,475
169
1,139
281
3,064
23.7
2.7
18.3
4.5
49.1
907
907
21.7
21.7
860
860
17.2
17.2
630
630
13.6
13.6
492
492
9.6
9.6
1,347
1,347
21.6
21.6
TOTAL LIABILITIES
2,467
59.0
3,354
67.2
2,747
59.3
2,943
57.3
4,411
70.8
TOTAL NET WORTH

1,717
4,184
41.0
100.0
1,636
4,990
32.8
100.0
1,889
4,636
40.7
100.0
2,192
5,135
42.7
100.0
1,823
6,234
29.2
100.0
9,911
7,311
155
100.0
73.8
1.6
9,968
7,477
209
100.0
75.0
2.1
10,535
7,739
239
100.0
73.5
2.3
11,848
8,552
224
100.0
72.2
1.9
12,419
9,468
273
100.0
76.2
2.2

Net Fixed Assets
LT Receivables & Investments
Other Non-Current Assets
TOTAL ASSETS
S/T Loans Payable
Current Portion - LTD
Accounts Payable
Accrued Liabilities
Taxes Payable

Long Term Debt
TOTAL NON-CURRENT
LIABILITIES
INCOME STATEMENT
Net Sales/Revenues
GROSS PROFIT
Net Operating Expenses
Depr & Amort

PROFIT BEFORE TAXES

Income Taxes
PROFIT BEFORE
EXTRAORDINARY ITEMS
NET PROFIT
2,445
1,843
19
24.7
18.6
0.2
2,282
2,032
15
22.9
20.4
0.2
2,557
2,114
13
24.3
20.1
0.1
3,072
2,454
17
25.9
20.7
0.1
2,678
2,755
21
21.6
22.2
0.2
583
(68)
56
5.9
(0.7)
0.6
235
(126)
48
2.4
(1.3)
0.5
430
(147)
47
4.1
(1.4)
0.4
601
(153)
45
5.1
(1.3)
0.4
(98)
(306)
35
(0.8)
(2.5)
0.3
571
122
5.8
1.2
157
31
1.6
0.3
330
77
3.1
0.7
493
144
4.2
1.2
(369)
-
(3.0)
-
449
4.5
126
1.3
253
2.4
349
2.9
(369)
(3.0)
449
4.5
126
1.3
253
2.4
349
2.9
(369)
(3.0)
449
4.5
126
1.3
253
2.4
349
2.9
(369)
(3.0)

(27)
(40)
(207)
-
(46)
-
Page 28
Executive Reconciliations & Ratios

Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual

1,905
Chg in Total Fixed Assets-Net
(90)
Chg in Long Term Rec & Invest
(2)
Chg in Other LT Assets
(80)
(47)
Chg in Net Worth
(81)
1,605
UCA Cash Flow

9,648
(7,571)
2,077
(2,062)
15
Other Cash Expenses
46
(31)
30
Interest - Paid in Cash
(126)
(207)
NET CASH INCOME
(303)
(199)
CASH AFTER DEBT AMORTIZATION
(502)
(312)
Chg in Investments & Intangibles
(82)
Extraordinary and Non-Cash Items
(896)
946
50
Add:Beginning Cash & Equivalents
71
121
Ratios
Working Capital
1,905
1,605
Quick Ratio
0.92
0.73
Current Ratio
2.22
1.64
Debt/Worth
1.44
2.05
Debt/Tang Worth
1.44
2.05
2.99
0.63
Return on Assets (%)
10.73
2.53
Return on Equity (%)
26.15
7.70
50.45
61.88
94.65
105.00
31.83
39.51
Total Assets Growth (%)
19.26
Total Liabilities Growth (%)
35.95
Net Worth Growth (%)
(4.72)
0.58
Net Profit Growth (%)
(71.94)
1,605
152
(4)
56
(230)
253
1,832
1,832
83
(2)
46
(138)
303
2,124
2,124
(800)
(2)
(2)
855
(369)
1,806
10,620
(7,918)
2,702
(2,118)
584
47
(47)
584
(147)
437
(226)
211
(100)
52
163
(140)
23
121
144
11,697
(8,624)
3,073
(2,506)
567
32
(174)
425
(153)
(46)
226
(142)
84
(145)
44
(17)
(37)
(54)
144
90
12,567
(9,755)
2,812
(2,708)
104
35
139
(306)
(167)
(115)
(282)
(1,094)
(4)
(1,380)
1,365
(15)
90
75
1,832
0.83
1.87
1.45
1.45
3.56
5.46
13.39
55.61
97.95
26.67
(7.09)
(18.10)
15.46
5.69
100.79
2,124
0.75
1.87
1.34
1.34
4.73
6.80
15.92
54.10
108.55
40.76
10.76
7.14
16.04
12.46
37.94
1,806
0.55
1.59
2.42
2.42
(0.44)
(5.92)
(20.24)
47.26
114.51
42.68
21.40
49.88
(16.83)
4.82
N/A
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 29
Executive FAS 95 Stmt of Cash Flows (Indirect)

Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Net Income
126
253
349
(369)
224
(2)
(320)
(275)
11
181
(41)
(222)
(96)
252
85
70
18
(249)
(22)
30
184
437
241
(13)
(151)
(469)
(60)
397
8
(30)
(77)
272
294
148
(446)
(12)
159
59
202
(167)

Chg in Investments
(312)
(82)
(394)
(100)
52
(48)
(145)
44
(101)
(1,094)
(4)
(1,098)

Chg in Short Term Liabilities

Deferred Interest Expense
Chg in Other ST and LT Liabilities
Cash Dividends Paid
Chg in Capital(Less Non-Cash)

Chg in Currency Translation
794
(47)
747
(207)
540
50
(136)
(230)
(366)
(366)
23
(41)
(138)
(179)
(46)
(225)
(54)
395
855
1,250
1,250
(15)
71
121
121
144
144
90
90
75
Reconciling Items
Non-Cash Items
Chg in Deferred Revenue
Chg in Inventories
Chg in Accounts Rec-Related Co
Chg in Overdrafts
Chg in Accruals
Chg in Taxes
Chg in Oper Assets and Liabilities
Total Adjustments
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 30
Asset Based Lending Report

Asset Based Lending Report
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
ACCOUNTS RECEIVABLE
Total Accounts Receivable (AR)
AR Base before Cap & Sr Liens
NET AR BORROWING BASE
1,370
1,690
1,605
1,756
1,608
INVENTORY
Finished Goods
NET INVENTORY BORROWING BASE
1,936
-
2,211
-
2,141
-
2,610
-
3,056
-
3,306
3,306
3,901
3,901
3,746
3,746
4,366
4,366
4,664
4,664
ORDERS
Orders Base Before Cap
NET ORDERS BORROWING BASE
BORROWING BASE SUMMARY
Total Assets in Borrowing Base
Eligible Assets
TOTAL BORROWING BASE
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 31
Balance Sheet Account Assumptions

Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Stmt Type
Annual
Annual
Annual
Annual
Annual
CURRENT LIABILITIES
Note Payable - Bank
Actual Incr (Decr) Over Prior
% Incr (Decr) Over Prior Period
% of Net Sales
433
1,200
767
177.14
12.04
1,148
(52)
(4.33)
10.90
1,134
(14)
(1.22)
9.57
1,475
341
30.07
11.88
226
27
13.57
2.27
26.28
142
(84)
(37.17)
1.35
22.54
115
(27)
(19.01)
0.97
23.37
169
54
46.96
1.36
12.55
832
181
27.80
8.35
39.51
583
(249)
(29.93)
5.53
26.67
980
397
68.10
8.27
40.76
1,139
159
16.22
9.17
42.68
236
(41)
(14.80)
2.37
214
(22)
(9.32)
2.03
222
8
3.74
1.87
281
59
26.58
2.26
N/A
-
30
30
N/A
0.28
9.09
(30)
(100.00)
-
N/A
-
907
9.15
860
(47)
(5.18)
8.63
630
(230)
(26.74)
5.98
492
(138)
(21.90)
4.15
1,347
855
173.78
10.85
17
0.17
17
0.17
17
0.16
17
0.14
17
0.14
4.37
CPLTD-Bank
% of Net Sales
% of Long Term Debt Accounts
199
2.01
21.94
% of Net Sales
Days On Hand
651
6.57
31.83
Accrued Expenses
% of Net Sales
277
2.79

% of Net Sales
% of Profit Before Taxes
Long Term Debt
% of Net Sales
EQUITY
Common Stock
% of Net Sales
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 32
Income Statement Account Assumptions

Income Statement Account Assumptions
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Stmt Type
Annual
Annual
Annual
Annual
Annual
INCOME STATEMENT
Division
9,785
9,523
9,477
9,564
9,317
(262)
(2.68)
(46)
(0.48)
87
0.92
(247)
(2.58)

126
445
319
253.17
1,058
613
137.75
2,284
1,226
115.88
3,102
818
35.81
Cost of Goods Sold

% of Net Sales
7,311
73.77
7,477
166
2.27
75.01
7,739
262
3.50
73.46
8,552
813
10.51
72.18
9,468
916
10.71
76.24

% of Net Sales
155
209
239
224
273
1.56
54
34.84
2.10
30
14.35
2.27
(15)
(6.28)
1.89
49
21.88
2.20
2,032
189
10.26
20.39
2,114
82
4.04
20.07
2,454
340
16.08
20.71
2,755
301
12.27
22.18
15
(4)
(21.05)
0.15
0.69
13
(2)
(13.33)
0.12
0.57
17
4
30.77
0.14
0.70
21
4
23.53
0.17
0.60
126
58
85.29
1.26
147
21
16.67
1.40
153
6
4.08
1.29
306
153
100.00
2.46
46
32
228.57
0.46
47
1
2.17
0.45
32
(15)
(31.91)
0.27
35
3
9.38
0.28
2
(40)
(95.24)
0.02
(2)
N/A
-
13
13
N/A
0.11
(13)
N/A
-
31
(91)
(74.59)
0.31
19.75
77
46
148.39
0.73
23.33
144
67
87.01
1.22
29.21
(144)
(100.00)
-
207
180
666.67
164.29
(207)
(100.00)
-
46
46
N/A
13.18
(46)
(100.00)
-
(40)
40
N/A
N/A
N/A
N/A
SG & A Expense
% of Net Sales
1,843
Depreciation
% of Net Sales
% of Gross Fixed Assets
19

% of Net Sales
Other Income
% of Net Sales
% of Net Sales
Current Income Tax
% of Net Sales
% of Profit Before Taxes
Dividends - Common
% of Net Profit
18.60
0.19
1.04
68
0.69
14
0.14
42
0.42
122
1.23
21.37
27
6.01
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 33
Quick Projection Variables

Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005
Months Covered
12
12
12
12
12
Stmt Type
Annual
Annual
Annual
Annual
Annual
Annual Sales Growth (%)
0.58
5.69
12.46
4.82
Gross Margin (plus Depr) (%)
26.23
24.99
26.54
27.82
23.76
Operating Expense (excl Depr) (%)
18.60
20.39
20.07
20.71
22.18
50.45
61.88
55.61
54.10
47.26
96.65
107.93
100.98
111.39
117.81
32.50
40.62
27.50
41.83
43.91
0.78
1.27
1.46
0.82
0.61
341
111
154
1,093
19.26
(7.09)
10.76
21.40
0.58
5.69
12.46
4.82
Depreciation Rate (%)
11.22
11.34
10.23
9.87
Depreciation Rate to Accumulated (%)
11.22
11.34
10.23
9.87
21.37
19.75
23.33
29.21
6.01
164.29
13.18
6.59
6.99
8.36
12.93
Cash/(SG&A + COGS) (%)

Capital Spending
Misc Balance Sheet Growth Rate
Misc Income Statement Growth Rate
Effective Tax Rate (%)

Dividend Payout Rate (%)
Interest Expense Rate (%)
Interest Income Rate (%)
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 34

PEER COMPARISON REPORTS
Peer Comparison Reports are used to compare the borrowers financial statement data to the Risk Management Associations
(RMA) Annual Statement Studies Database. RMA provides common-sized Balance Sheet and Income Statement values, and
quartiled ratios for comparison.
In addition to the sample Peer Comparison Reports shown in this document, the following reports are also available:
1.
Peer Comparison Detailed Income Statement Actual
2.
Peer Comparison Detailed Balance Sheet %
3.
Peer Comparison Detailed Balance Sheet Actual and %
4.
Peer Comparison Summary Income Statement Actual
5.
Peer Comparison Summary Balance Sheet %
6.
Peer Comparison Summary Balance Sheet Actual and %
7.
Peer Comparison Executive Financial Statement Actual and %
Page 35
Peer Comparison Detailed Balance Sheet Actual

Prepared: 17:58, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005 3/31/2004 6/30/2005
Months Covered
12
12
12
12
12
12
0
Audit Mthd
315228 Variance
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Peer
Peer
Analyst
GJH
GJH
GJH
GJH
GJH
6/30/2005
Stmt Type
Annual
Annual
Annual
Annual
Annual
CURRENT ASSETS
Cash

71
1,424
54
Total Accts/Rec-Net
Raw Materials
Inventory
Total Inventory
Prepaid Expenses
NON-CURRENT ASSETS
Land
Gross Fixed Assets


Operating Non-Cur Assets
Other Assets
Intangibles - Goodwill

TOTAL ASSETS
CURRENT LIABILITIES
Note Payable - Bank
CPLTD-Bank
Accrued Expenses
Operating Current Liabs
Long Term Debt
Operating Non-Cur Liabs
Deferred Fed Inc Tax - LTP
TOTAL NON-CURRENT LIABILITIES

TOTAL LIABILITIES
NET WORTH
Common Stock
Retained Earnings
121
1,744
54
144
1,669
64
90
1,842
86
75
1,698
90
630
1,733
-
(555)
(35)
90
1,370
1,936
1,690
2,211
1,605
2,141
1,756
2,610
1,608
3,056
1,733
2,313
-
(125)
(2,313)
3,056
1,936
88
-
2,211
77
-
2,141
59
-
2,610
119
-
3,056
131
-
2,313
143
743
131
(143)
3,465
4,099
3,949
4,575
4,870
4,819
51
1,644
182
1,885
282
1,922
356
2,011
421
2,957
568
723
-
(723)
2,957
568
1,826
1,161
2,167
1,412
2,278
1,675
2,432
1,912
3,525
2,205
723
-
2,802
2,205
665
12
42
-
755
14
122
-
603
18
66
-
520
20
20
-
1,320
22
22
-
723
318
374
597
22
(318)
22
(374)
719
4,184
891
4,990
687
4,636
560
5,135
1,364
6,234
1,415
6,234
(51)
-
433
199
651
277
-
1,200
226
832
236
-
1,148
142
583
214
30
-
1,134
115
980
222
-
1,475
169
1,139
281
-
792
137
1,103
6
567
683
32
36
281
(6)
(567)
1,560
2,494
2,117
2,451
3,064
2,605
459
907
-
860
-
630
-
492
-
1,347
-
530
611
12
817
(611)
(12)
907
2,467
860
3,354
630
2,747
492
2,943
1,347
4,411
1,153
3,758
194
653
17
1,700
17
1,619
17
1,872
17
2,175
17
1,806
2,476
17
(670)
TOTAL NET WORTH

1,717
4,184
1,636
4,990
1,889
4,636
2,192
5,135
1,823
6,234
2,476
6,234
(653)
-
Working Capital
1,905
1,717
1,605
1,636
1,832
1,889
2,124
2,192
1,806
1,823
2,214
2,102
(408)
(279)
Page 36
Peer Comparison Detailed Income Statement %

Prepared: 17:58, 9/22/2005
Detailed Income Statement - %
MMAS (3.1.6.0)
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005 3/31/2004 6/30/2005
Months Covered
12
12
12
12
12
12
0
Audit Mthd
315228 Variance
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Peer
Peer
Analyst
GJH
GJH
GJH
GJH
GJH
6/30/2005
Stmt Type
Annual
Annual
Annual
Annual
Annual

NET SALES/REVENUE
98.7
1.3
100.0
95.5
4.5
100.0
90.0
10.0
100.0
80.7
19.3
100.0
75.0
25.0
100.0
100.0
100.0
(25.0)
25.0
Cost of Goods Sold

GROSS PROFIT
73.8
1.6
75.3
24.7
75.0
2.1
77.1
22.9
73.5
2.3
75.7
24.3
72.2
1.9
74.1
25.9
76.2
2.2
78.4
21.6
68.7
68.7
31.3
7.5
2.2
9.7
(9.7)
18.6
0.2
18.8
5.9
20.4
0.2
20.5
2.4
20.1
0.1
20.2
4.1
20.7
0.1
20.9
5.1
22.2
0.2
22.4
(0.8)
27.7
27.7
3.6
22.2
0.2
(27.7)
(5.3)
(4.4)
0.7
0.1
0.4
(0.1)
5.8
1.3
0.5
(0.8)
1.6
1.4
0.4
(0.9)
3.1
1.3
0.3
0.1
(0.9)
4.2
2.5
0.3
(2.2)
(3.0)
1.8
(1.8)
1.8
2.5
0.3
(1.8)
(0.4)
(4.8)
NET PROFIT
1.2
4.5
0.3
1.3
0.7
2.4
1.2
2.9
(3.0)
1.8
(4.8)
EBIT
EBITDA
EBIDA
6.4
8.2
7.0
2.8
5.1
4.8
4.5
6.9
6.2
5.5
7.5
6.3
(0.5)
1.9
1.9
1.8
1.8
1.8
(2.3)
0.1
0.1
SG & A Expense
Depreciation
Operating Expense

Other Income
Other Expense (-)
PROFIT BEFORE TAXES

Current Income Tax
Page 37
Peer Comparison Detailed Income Sheet Actual and %

Detailed Income Statement - Actual and %
Statement Date
6/30/2001
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
6/30/2002
12
Unqualif'd
KPMG
GJH
Annual
6/30/2003
12
Unqualif'd
KPMG
GJH
Annual
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
3/31/2004
6/30/2005
12
0
315228
Variance
Peer
Peer
6/30/2005
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual

9,785
126
9,911
98.7
1.3
100.0
9,523
445
9,968
95.5
4.5
100.0
9,477
1,058
10,535
90.0
10.0
100.0
9,564
2,284
11,848
80.7
19.3
100.0
9,317
3,102
12,419
75.0
25.0
100.0
13,091
13,091
100.0
100.0
(3,774)
3,102
(672)
(25.0)
25.0
7,311
155
7,466
2,445
73.8
1.6
75.3
24.7
7,477
209
7,686
2,282
75.0
2.1
77.1
22.9
7,739
239
7,978
2,557
73.5
2.3
75.7
24.3
8,552
224
8,776
3,072
72.2
1.9
74.1
25.9
9,468
273
9,741
2,678
76.2
2.2
78.4
21.6
8,993
8,993
4,098
68.7
68.7
31.3
475
273
748
(1,420)
7.5
2.2
9.7
(9.7)
1,843
19
1,862
583
18.6
0.2
18.8
5.9
2,032
15
2,047
235
20.4
0.2
20.5
2.4
2,114
13
2,127
430
20.1
0.1
20.2
4.1
2,454
17
2,471
601
20.7
0.1
20.9
5.1
2,755
21
2,776
(98)
22.2
0.2
22.4
(0.8)
3,626
3,626
472
27.7
27.7
3.6
2,755
21
(3,626)
(850)
(570)
22.2
0.2
(27.7)
(5.3)
(4.4)
68
14
42
(12)
571
0.7
0.1
0.4
(0.1)
5.8
126
46
2
(78)
157
1.3
0.5
(0.8)
1.6
147
47
(100)
330
1.4
0.4
(0.9)
3.1
153
32
13
(108)
493
1.3
0.3
0.1
(0.9)
4.2
306
35
(271)
(369)
2.5
0.3
(2.2)
(3.0)
236
(236)
236
1.8
(1.8)
1.8
306
35
(236)
(35)
(605)
2.5
0.3
(1.8)
(0.4)
(4.8)
NET PROFIT
122
449
1.2
4.5
31
126
0.3
1.3
77
253
0.7
2.4
144
349
1.2
2.9
(369)
(3.0)
236
1.8
(605)
(4.8)
EBIT
EBITDA
EBIDA
639
813
691
6.4
8.2
7.0
283
507
476
2.8
5.1
4.8
477
729
652
4.5
6.9
6.2
646
887
743
5.5
7.5
6.3
(63)
231
231
(0.5)
1.9
1.9
236
236
236
1.8
1.8
1.8
(299)
(5)
(5)
(2.3)
0.1
0.1
Dividends - Common
(27)
(40)
(207)
(46)
NET SALES/REVENUE
Cost of Goods Sold
GROSS PROFIT
SG & A Expense
Depreciation
Operating Expense

Other Income
Other Expense (-)
PROFIT BEFORE TAXES

Current Income Tax
Page 38
Peer Comparison Summary Balance Sheet Actual

Prepared: 17:58, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005 3/31/2004 6/30/2005
Months Covered
12
12
12
12
12
12
0
Audit Mthd
315228 Variance
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Peer
Peer
Analyst
GJH
GJH
GJH
GJH
GJH
6/30/2005
Stmt Type
Annual
Annual
Annual
Annual
Annual
ASSETS
Cash & Equivalents
Trade Inventory

Net Fixed Assets
Investments
Op Non-Current Assets
Intangibles - Net
TOTAL ASSETS
S/T Loans Payable
CPLTD-Bank
Other Accruals
Taxes Payable
Operating Current Liabilities

Long Term Debt
Other Non-Current Liabilities
Deferred Fed Income Tax - LTP
TOTAL LIABILITIES
Stock
Retained Earnings
TOTAL NET WORTH
71
1,370
1,936
88
3,465
121
1,690
2,211
77
4,099
144
1,605
2,141
59
3,949
90
1,756
2,610
119
4,575
75
1,608
3,056
131
4,870
630
1,733
2,313
143
4,819
(555)
(125)
743
(12)
51
665
12
42
719
4,184
755
14
122
891
4,990
603
18
66
687
4,636
520
20
20
560
5,135
1,320
22
22
1,364
6,234
723
318
374
1,415
6,234
597
22
(318)
22
(374)
(51)
433
199
651
277
1,560
1,200
226
832
236
2,494
1,148
142
583
214
30
2,117
1,134
115
980
222
2,451
1,475
169
1,139
281
3,064
792
137
1,103
6
567
2,605
683
32
36
281
(6)
(567)
459
907
907
2,467
860
860
3,354
630
630
2,747
492
492
2,943
1,347
1,347
4,411
530
611
12
1,153
3,758
817
(611)
(12)
194
653
17
1,700
1,717
4,184
17
1,619
1,636
4,990
17
1,872
1,889
4,636
17
2,175
2,192
5,135
17
1,806
1,823
6,234
2,476
2,476
6,234
17
(670)
(653)
Page 39
Peer Comparison Summary Income Statement %

Summary Income Statement - %
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005 3/31/2004 6/30/2005
Months Covered
12
12
12
12
12
12
0
Audit Mthd
315228 Variance
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Peer
Peer
Analyst
GJH
GJH
GJH
GJH
GJH
6/30/2005
Stmt Type
Annual
Annual
Annual
Annual
Annual
Sales/Revenues
100.0
100.0
100.0
100.0
100.0
100.0
73.8
1.6
75.3
24.7
75.0
2.1
77.1
22.9
73.5
2.3
75.7
24.3
72.2
1.9
74.1
25.9
76.2
2.2
78.4
21.6
68.7
68.7
31.3
7.5
2.2
9.7
(9.7)
18.6
0.2
18.8
5.9
20.4
0.2
20.5
2.4
20.1
0.1
20.2
4.1
20.7
0.1
20.9
5.1
22.2
0.2
22.4
(0.8)
27.7
27.7
3.6
22.2
(27.7)
0.2
(5.3)
(4.4)
(0.7)
0.1
0.4
(0.1)
5.8
(1.3)
0.5
(0.8)
1.6
(1.4)
0.4
(0.9)
3.1
(1.3)
0.3
0.1
(0.9)
4.2
(2.5)
0.3
(2.2)
(3.0)
(1.8)
(1.8)
1.8
(2.5)
2.1
(0.4)
(4.8)
Income Taxes
NET PROFIT
1.2
4.5
0.3
1.3
0.7
2.4
1.2
2.9
(3.0)
1.8
(4.8)
EBIT
EBITDA
EBIDA
6.4
8.2
7.0
2.8
5.1
4.8
4.5
6.9
6.2
5.5
7.5
6.3
(0.5)
1.9
1.9
1.8
1.8
1.8
(2.3)
0.1
0.1
GROSS PROFIT
S,G, & A Expense
Operating Expense
Depreciation

PROFIT BEFORE TAXES
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
Page 40
Peer Comparison Summary Income Statement Actual and %

Summary Income Statement - Actual and %
Statement Date
6/30/2001
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
6/30/2002
12
Unqualif'd
KPMG
GJH
Annual
6/30/2003
12
Unqualif'd
KPMG
GJH
Annual
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
3/31/2004
6/30/2005
12
0
315228
Variance
Peer
Peer
6/30/2005
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
Sales/Revenues
9,911
100.0
9,968
100.0
10,535
100.0
11,848
100.0
12,419
100.0
13,091
100.0
(672)
7,311
155
7,466
2,445
73.8
1.6
75.3
24.7
7,477
209
7,686
2,282
75.0
2.1
77.1
22.9
7,739
239
7,978
2,557
73.5
2.3
75.7
24.3
8,552
224
8,776
3,072
72.2
1.9
74.1
25.9
9,468
273
9,741
2,678
76.2
2.2
78.4
21.6
8,993
8,993
4,098
68.7
68.7
31.3
475
273
748
(1,420)
7.5
2.2
9.7
(9.7)
1,843
19
1,862
583
18.6
0.2
18.8
5.9
2,032
15
2,047
235
20.4
0.2
20.5
2.4
2,114
13
2,127
430
20.1
0.1
20.2
4.1
2,454
17
2,471
601
20.7
0.1
20.9
5.1
2,755
21
2,776
(98)
22.2
0.2
22.4
(0.8)
3,626
3,626
472
27.7
27.7
3.6
2,755
(3,626)
21
(850)
(570)
22.2
(27.7)
0.2
(5.3)
(4.4)
PROFIT BEFORE TAXES
(68)
14
42
(12)
571
(0.7)
0.1
0.4
(0.1)
5.8
(126)
46
2
(78)
157
(1.3)
0.5
(0.8)
1.6
(147)
47
(100)
330
(1.4)
0.4
(0.9)
3.1
(153)
32
13
(108)
493
(1.3)
0.3
0.1
(0.9)
4.2
(306)
35
(271)
(369)
(2.5)
0.3
(2.2)
(3.0)
(236)
(236)
236
(1.8)
(1.8)
1.8
(306)
271
(35)
(605)
(2.5)
2.1
(0.4)
(4.8)
Income Taxes
NET PROFIT
122
449
1.2
4.5
31
126
0.3
1.3
77
253
0.7
2.4
144
349
1.2
2.9
(369)
(3.0)
236
1.8
(605)
(4.8)
EBIT
EBITDA
EBIDA
639
813
691
6.4
8.2
7.0
283
507
476
2.8
5.1
4.8
477
729
652
4.5
6.9
6.2
646
887
743
5.5
7.5
6.3
(63)
231
231
(0.5)
1.9
1.9
236
236
236
1.8
1.8
1.8
(299)
(5)
(5)
(2.3)
0.1
0.1

(27)
(40)
(207)
(46)
GROSS PROFIT
S,G, & A Expense
Operating Expense
Depreciation

Page 41
Peer Comparison Executive Financial Statement Actual

Executive Financial Statement - Actual
Statement Date
Months Covered
Audit Mthd
Accountant
Analyst
Stmt Type
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005 3/31/2004

12
12
12
12
12
12
315228
KPMG
KPMG
KPMG
KPMG
KPMG
Peer
GJH
GJH
GJH
GJH
GJH
Annual
Annual
Annual
Annual
Annual
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
0
Variance
Peer
6/30/2005
ASSETS
Cash & Near Cash
Inventory
71
1,370
1,936
88

Net Fixed Assets
Intangibles - Net
TOTAL ASSETS
S/T Loans Payable
Accounts Payable
Accrued Liabilities
Taxes Payable

Long Term Debt
121
1,690
2,211
77
144
1,605
2,141
59
90
1,756
2,610
119
75
1,608
3,056
131
630
1,733
2,313
143
(555)
(125)
743
(12)
3,465
4,099
3,949
4,575
4,870
4,819
51
665
12
42
-
755
14
122
-
603
18
66
-
520
20
20
-
1,320
22
22
-
723
318
374
597
22
(296)
(374)
719
891
687
560
1,364
1,415
(51)
4,184
4,990
4,636
5,135
6,234
6,234
433
199
651
277
-
1,200
226
832
236
-
1,148
142
583
214
30
-
1,134
115
980
222
-
1,475
169
1,139
281
-
792
137
1,103
6
567
683
32
36
281
(6)
(567)
1,560
2,494
2,117
2,451
3,064
2,605
459
907
-
860
-
630
-
492
-
1,347
-
530
623
817
(623)
907
860
630
492
1,347
1,153
194
TOTAL LIABILITIES
2,467
3,354
2,747
2,943
4,411
3,758
653
TOTAL NET WORTH

1,717
4,184
1,636
4,990
1,889
4,636
2,192
5,135
1,823
6,234
2,476
6,234
(653)
-
9,911
7,311
155
9,968
7,477
209
10,535
7,739
239
11,848
8,552
224
12,419
9,468
273
13,091
8,993
-
(672)
475
273
INCOME STATEMENT
Net Sales/Revenues
GROSS PROFIT
Depr & Amort

PROFIT BEFORE TAXES

Income Taxes
PROFIT BEFORE EXTRAORDINARY ITEMS
NET PROFIT
2,445
1,843
19
2,282
2,032
15
2,557
2,114
13
3,072
2,454
17
2,678
2,755
21
4,098
3,626
-
(1,420)
(871)
21
583
(68)
56
235
(126)
48
430
(147)
47
601
(153)
45
(98)
(306)
35
472
(236)
(570)
(306)
271
571
122
157
31
330
77
493
144
(369)
-
236
-
(605)
-
449
126
253
349
(369)
236
(605)
449
126
253
349
(369)
236
(605)
449
126
253
349
(369)
236
(605)

(27)
(40)
(207)
-
(46)
-
Page 42
Peer Comparison Executive Financial Statement %

Executive Financial Statement - %
Statement Date
Months Covered
Audit Mthd
Accountant
Analyst
Stmt Type
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005 3/31/2004

12
12
12
12
12
12
315228
KPMG
KPMG
KPMG
KPMG
KPMG
Peer
GJH
GJH
GJH
GJH
GJH
Annual
Annual
Annual
Annual
Annual
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
0
Variance
Peer
6/30/2005
ASSETS
Cash & Near Cash
Inventory
1.7
32.7
46.3
2.1
2.4
33.9
44.3
1.5
3.1
34.6
46.2
1.3
1.8
34.2
50.8
2.3
1.2
25.8
49.0
2.1
10.1
27.8
37.1
2.3
(8.9)
(2.0)
11.9
(0.2)
82.8
82.1
85.2
89.1
78.1
77.3
0.8
Net Fixed Assets

Intangibles - Net
15.9
0.3
1.0
-
15.1
0.3
2.4
-
13.0
0.4
1.4
-
10.1
0.4
0.4
-
21.2
0.4
0.4
-
11.6
5.1
6.0
9.6
0.4
(4.7)
(6.0)
TOTAL ASSETS
S/T Loans Payable
Accounts Payable
Accrued Liabilities
Taxes Payable
17.2
17.9
14.8
10.9
21.9
22.7
(0.8)
100.0
100.0
100.0
100.0
100.0
100.0
10.3
4.8
15.6
6.6
-
24.0
4.5
16.7
4.7
-
24.8
3.1
12.6
4.6
0.6
-
22.1
2.2
19.1
4.3
-
23.7
2.7
18.3
4.5
-
12.7
2.2
17.7
0.1
9.1
11.0
0.5
0.6
4.5
(0.1)
(9.1)
37.3
50.0
45.7
47.7
49.1
41.8
7.4
Long Term Debt

21.7
-
17.2
-
13.6
-
9.6
-
21.6
-
8.5
10.0
13.1
(10.0)
TOTAL LIABILITIES
TOTAL NET WORTH
INCOME STATEMENT
Net Sales/Revenues
GROSS PROFIT
Depr & Amort

PROFIT BEFORE TAXES

Income Taxes
PROFIT BEFORE EXTRAORDINARY ITEMS
NET PROFIT
21.7
17.2
13.6
9.6
21.6
18.5
3.1
59.0
67.2
59.3
57.3
70.8
60.3
10.5
41.0
100.0
32.8
100.0
40.7
100.0
42.7
100.0
29.2
100.0
39.7
100.0
(10.5)
-
100.0
73.8
1.6
100.0
75.0
2.1
100.0
73.5
2.3
100.0
72.2
1.9
100.0
76.2
2.2
100.0
68.7
-
7.5
2.2
24.7
18.6
0.2
22.9
20.4
0.2
24.3
20.1
0.1
25.9
20.7
0.1
21.6
22.2
0.2
31.3
27.7
-
(9.7)
(5.5)
0.2
5.9
(0.7)
0.6
2.4
(1.3)
0.5
4.1
(1.4)
0.4
5.1
(1.3)
0.4
(0.8)
(2.5)
0.3
3.6
(1.8)
(4.4)
(2.5)
2.1
5.8
1.2
1.6
0.3
3.1
0.7
4.2
1.2
(3.0)
-
1.8
-
(4.8)
-
4.5
1.3
2.4
2.9
(3.0)
1.8
(4.8)
4.5
1.3
2.4
2.9
(3.0)
1.8
(4.8)
4.5
1.3
2.4
2.9
(3.0)
1.8
(4.8)
Page 43
Peer Comparison Ratios

Prepared: 17:58, 9/22/2005
Ratios
MMAS (3.1.6.0)
Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004 6/30/2005 3/31/2004 6/30/2005
Months Covered
12
12
12
12
12
12
0
Audit Mthd
315228 Variance
Accountant
KPMG
KPMG
KPMG
KPMG
KPMG
Peer
Peer
Analyst
GJH
GJH
GJH
GJH
GJH
6/30/2005
Stmt Type
Annual
Annual
Annual
Annual
Annual
LIQUIDITY
Working Capital
Quick Ratio
Current Ratio
1,905
0.92
2.22
5.20
1,605
0.73
1.64
6.21
1,832
0.83
1.87
5.75
2,124
0.75
1.87
5.58
1,806
0.55
1.59
6.88
2,214
0.91
1.85
5.91
(408)
(0.36)
(0.26)
0.96
LEVERAGE
Net Worth-Actual
Debt/Worth
Debt/Tang Worth
1,717
1,717
1,717
1.44
1.44
1.44
0.90
1.66
0.59
1,636
1,636
1,636
2.05
2.05
2.05
1.40
1.44
0.67
1,889
1,889
1,889
1.45
1.45
1.45
1.02
1.28
0.59
2,192
2,192
2,192
1.34
1.34
1.34
0.79
1.17
0.57
1,823
1,823
1,823
2.42
2.42
2.42
1.64
1.15
0.71
2,476
2,102
2,102
1.52
1.79
1.79
0.69
0.92
0.60
(653)
(279)
(279)
0.90
0.63
0.63
0.95
0.23
0.10
COVERAGE
Interest Coverage
EBITDA
EBIDA
Fixed Charge Coverage
9.40
2.99
3.04
813
691
3.04
2.25
0.63
1.44
507
476
1.44
3.24
3.56
2.52
729
652
2.52
4.22
4.73
3.31
887
743
3.31
(0.21)
(0.44)
0.49
231
231
0.49
N/A
1.72
1.72
236
236
1.72
(0.21)
(2.17)
(1.24)
(5)
(5)
(1.24)
PROFITABILITY (%)
Return on Assets
Return on Equity
Gross Margin
Operating Expense %
Operating Profit Margin (plus Depr) %
Net Margin
Dividend Payout Rate
Effective Tax Rate
10.73
26.15
24.67
26.23
18.79
18.60
5.88
7.64
4.53
6.01
21.37
2.53
7.70
22.89
24.99
20.54
20.39
2.36
4.60
1.26
164.29
19.75
5.46
13.39
24.27
26.54
20.19
20.07
4.08
6.47
2.40
23.33
6.80
15.92
25.93
27.82
20.86
20.71
5.07
7.11
2.95
13.18
29.21
(5.92)
(20.24)
21.56
23.76
22.35
22.18
(0.79)
1.58
(2.97)
-
3.79
9.53
31.30
31.30
27.70
27.70
3.61
3.61
1.80
-
(9.70)
(29.77)
(9.74)
(7.54)
(5.35)
(5.51)
(4.39)
(2.03)
(4.77)
-
ACTIVITY
Raw Materials Days on Hand
Work in Process Days on Hand
Net Sales/Net Worth
Sustainable Growth
52.44
50.45
94.65
94.65
96.65
31.83
32.50
2.37
5.77
14.90
13.65
32.59
63.86
61.88
105.00
105.00
107.93
39.51
40.62
2.00
6.09
13.20
3.15
(4.72)
57.82
55.61
97.95
97.95
100.98
26.67
27.50
2.27
5.58
17.47
7.12
15.46
56.75
54.10
108.55
108.55
111.39
40.76
41.83
2.31
5.41
22.78
9.60
16.04
49.90
47.26
114.51
114.51
117.81
42.68
43.91
1.99
6.81
9.41
(5.92)
(16.83)
48.32
93.88
93.88
93.88
44.77
44.77
2.10
5.29
18.11
3.79
11.80
49.90
(1.06)
(93.88)
114.51
20.63
23.93
(2.09)
(0.86)
(0.11)
1.53
(8.70)
(9.70)
(28.63)
Page 44
Peer Comparison Comparison of Industry Values

Prepared: 17:58, 9/22/2005
Comparison of Industry Values
MMAS (3.1.6.0)
Based on unqualified financial data for fiscal year 2005.
The analysis of this company uses the 2004 data for all of the companies in the industry code 315228, Men's and boys' cut and sew other outerwear
manufacturing, for comparative purposes. The peer group consists of 56 companies.
BALANCE SHEET DATA
Cust Value Peer Value Variance
Cash & Equivalents
1.2
10.1
(8.9)
Trade Receivables - (net)
25.8
27.8
(2.0)
Inventory
49.0
37.0
12.0
All Other Current Assets
2.1
2.3
(0.2)
Total Current Assets
78.1
77.2
0.9
Fixed Assets (net)
Intangibles
All Other Non-Current Assets
Total Non-Current Assets
21.2
0.7
21.9
11.6
6.0
5.1
22.7
9.6
(6.0)
(4.4)
(0.8)
Notes Payable-Short Term

Current Maturities-L/T/D
Trade Payables
All Other Current Liabilities
Total Current Liabilities
23.7
2.7
18.3
4.5
49.1
12.7
2.2
17.7
0.1
9.1
41.8
11.0
0.5
0.6
(0.1)
(4.6)
7.3
Long Term Debt

Deferred Taxes
All Other Non-Current Liabilities
Total Non-Current Liabilities
Net Worth
21.6
21.6
29.2
8.5
0.2
9.8
18.5
39.7
13.1
(0.2)
(9.8)
3.1
(10.5)
21.6
22.4
(0.8)
(2.2)
(3.0)
31.3
27.7
3.6
1.8
1.8
(9.7)
(5.3)
(4.4)
(4.0)
(4.8)
Cust Value
Peer Value
Variance
1.6
-
4.6
1.9
1.2
(3.0)
(0.3)
0.4
Quick Ratio
Upper
Median
Lower
0.5
-
1.9
1.1
0.5
(1.4)
(0.6)
-
A/R Days Turnover

Upper
Median
Lower
47
-
30
46
71
17
1
(24)
115
-
51
86
146
64
29
(31)
A/P Days Turnover

Upper
Median
Lower
43
-
16
32
58
27
11
(15)
Sales/Working Capital
Upper
Median
Lower
6.9
-
3.4
6.4
19.7
3.5
0.5
(12.8)
(0.2)
-
13.5
2.5
N/A
N/A
INCOME DATA
Gross Profit (%)
Operating Expenses (%)
Operating Profit (%)
All Other Expenses (net)
Profit Before Taxes (%)
RATIOS
Current Ratio
Upper
Median
Lower
Inventory Days
Upper
Median
Lower
Interest Coverage
Upper
Median
Page 45

Comparison of Industry Values
Lower
-
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
1.5
N/A
Upper
(0.4)
Median
Lower
-
N/A
N/A
N/A
Net Fixed Asset/TNW

Upper
Median
Lower
0.7
-
0.1
0.3
1.1
0.6
0.4
(0.4)
Debt/Tang Net Worth

Upper
Median
Lower
2.4
-
0.6
2.2
7.1
1.8
0.2
(4.7)
(20.2)
-
71.2
14.4
2.9
N/A
N/A
N/A
(5.9)
-
12.4
5.9
0.8
N/A
N/A
N/A
Sales/Net Fixed Assets

Upper
Median
Lower
9.4
-
72.5
24.5
13.5
(63.1)
(15.1)
(4.1)
Sales/Total Assets
Upper
Median
Lower
2.0
-
2.9
2.1
1.5
(0.9)
(0.1)
0.5
Depr & Amort/Sales (%)

Upper
Median
Lower
2.4
-
0.4
0.9
1.8
2.0
1.5
0.6
Officer Comp/Sales (%)

Upper
Median
Lower
2.2
3.5
5.5
(2.2)
(3.5)
(5.5)
% Profit B4 Taxes/TNW
Upper
Median
Lower
% Profit B4 Taxes/TA
Upper
Median
Lower
The RiskCalc peer values were calculated using RiskCalc for private companies (North America) version 1.50. Peer sample sizes for RiskCalc
values are different from the above information and the RiskCalc sample size for this peer group consists of 47 companies. Customer values for
RiskCalc are not available on this report. Please select the RiskCalc report from the print menu to view customer RiskCalc values.
RISKCALC
Peer Value
1 Yr EDF Credit Measure

Upper
Median
Lower
-
0.5
1.1
3.0
5 Yr EDF Credit Measure

Upper
Median
Lower
-
3.7
7.2
9.6
Page 46

CONSULTANT REPORTS
Consultant Reports are narrative reports based on a rule-based expert system that analyzes changes and trends in the financial
statement data (balance sheet, income statement, cash flow, and ratio). Consultant reports can be used as a due diligence
check for experienced analysts and as guidance for new analysts.
In addition to the sample Consultant Reports shown in this document, the following reports are also available:
1.
Consultant Ratios
2.
Financial Performance Analysis
Page 47
Quick Call Summary

Quick Call Summary
This analysis is based on unqualif'd financial data for fiscal year ending 6/30/2005.
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
All financial information is reported in USD. The analysis of this company uses the 2004 data for all of the companies in the industry code 315228,
men's and boys' cut and sew other outerwear manufacturing, for comparative purposes. The peer group consists of 56 companies.
SALES GROWTH
Net Sales increased moderately, growing by 4.82%. This is less than the 12.46% growth rate for 2004.
CASH STATUS
There was 139 of cash flow from operations generated in 2005, which was insufficient to cover all financing costs or any debt amortization. Therefore,
capital and investment expenditures of 1,098 had to be met by new debt, additional equity, or cash depletion.
NEGATIVE INDICATORS
Gross Margin (excluding Cost of Goods Depreciation) decreased significantly to 23.76% compared to 27.82% in 2004 which resulted in a cash outflow of
-504. The peer group median is 31.3%.
Operating expenses (excluding depreciation) as a percentage of sales increased moderately from 20.71% in 2004 to 22.18% during the current period,
which resulted in a cash outflow of 183.
Operating Profit turned negative in 2005, at -98, which was -0.79% of sales. Operating Profit of -98 decreased very significantly to -0.79% of sales from
5.07% in 2004.
Net Profit Margin turned negative, at -2.97% of sales, providing Net Profit of -369.
Bad Debt Reserve (as a % of Accounts Receivable) is at a high level and is increasing.
Debt/TNW increased very significantly to 2.42.
Page 48
Focus Questions Report

Focus Questions Report
This analysis is based on unqualif'd financial data for fiscal year ending 6/30/2005.
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
All financial information is reported in USD United States Dollars.

SALES GROWTH was moderate at 4.82% in 2005 although lower than 12.46% in the prior year. Was this slowing rate caused by:
Change in sales targets set by management?
Change in strategic direction with regard to marketing goals?
Changes in product mix?
Capacity limitations?
Increased competition in the company's major markets?
Financial deterioration of major buyers?
Changes in general market demand?
Will the growth rate continue to decline or will it stabilize in the near future?
The business, even at this modest growth rate, is not generating sufficient cash to service its debt.
Is management considering cost controls or reductions?
Are wages and salaries unusually high?
Can management tighten control of balance sheet cash flow drivers?
What has caused the decline of GROSS MARGIN (excl. Cost of Sales-Depreciation) to 23.76%?
Management-initiated price reductions to gain market share?
Production or distribution inefficiencies?
Increased inventory costs?
Strategic mistakes?
Price pressure from key buyers due to product/service issues?
Loss of market share due to obsolescence or style factors?
Increased competition from major rivals?
Increased cost pressures from labor or suppliers?
Can management reverse or halt this decline? If not, are strategic plans being developed to address the fundamental issues?
What has caused the OPERATING EXPENSE (excl. depreciation) to increase as a percent of sales?
Increased administrative or overhead costs?
Increased marketing or advertising costs?
Higher selling or technical costs due to salary pressures?
High proportion of fixed costs in operating expense?
Expansion or reorganization costs?
Unusual necessary expenses?
OPERATING PROFIT was -98 in 2005. Does management have plans to restore operating profitability?
NET PROFIT was negative, at -369. Can management effect changes to return the company to profitability?
Why are ACCOUNTS RECEIVABLE in days at such a high level?
Is this normal for this business or industry?
If not, how is management planning to speed A/R turnover?
Why is BAD DEBT RESERVE high and increasing? What is management doing to improve asset quality?
The company seems to be managing its Accounts Receivable, Trade Creditors, and Inventory turnover consistently.
Is this expected to continue?
If not, what will be the contributing factors?
What plans does management have to offset these changes?
Does the company expect a continued high level of CAPITAL EXPENDITURES for the next several years?
Even so, are there any leased premises or equipment?
Do any of these leases have cancellation or obsolescence risk?
Does management plan to continue this high spending rate?
If so, how much further investment is expected or necessary?
If not, what sales level can be sustained by capital assets?
What caused DEBT/TNW to increase in 2005? Were these changes consistent with management plans?
Page 49
Cash Flow Summary

Cash Flow Summary
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)

All financial information is reported in USD United States Dollars. The analysis of this company uses the 2004 data for all of the companies in the
industry code 315228, Men's and boys' cut and sew other outerwear manufacturing, for comparative purposes. The peer group consists of 56
companies.
OVERVIEW
With positive Cash After Operations during the period, the business was capable of funding its trading cycle from internal operations. While an increase
in trading accounts absorbed 92 in cash flow, Operating Profit (excluding depreciation) covered this increase and allowed the business to realize 104 of
Cash After Operations.
Net Cash After Operations was positive during the period, however it was not adequate to cover interest payments or the current portion of long term
debt. This means the business is relying on sources of funding that are not part of its trading cycle. You will want to identify these sources. Typically
they include:
- Increasing levels of bank or other external debt;
- Decrease in cash or cash equivalents;
- Liquidation of other non-operating assets (e.g., investments, fixed assets);
- Increases in equity;
- Increases in other non-operating liabilities.
Consistent reliance on these funding sources for meeting debt service may be a concern since it can weaken the financial position of the company. In
addition, these additional sources of funding may not be available to support future cash needs.
In addition to examining cash flow for the recent period, you also need to consider the past trend of cash flow. Historically, the cash performance of the
business has been weak. In two of the past 4 periods, Cash After Debt Amortization has been negative which means Net Cash After Operations has
been inadequate to meet requirements for all financial charges and scheduled debt service. Over the past 4 periods, Cash after Debt Amortization has
averaged -122. If this pattern continues, the future prospect of repayment from internal operations is limited and the ability of the business to remain a
going concern may be threatened.
CASH EFFECT OF MANAGEMENT
Given the inability of the business to cover its financial charges and debt service from operating cash flows during the period, you will want to determine
the underlying reasons for this cash performance and their significance. You may want to start by examining the magnitude of the cash impact from
changes in some key financial factors known as "cash flow drivers". These are the factors in a company's business that, by varying from one period to
the next, can significantly influence operating cash flows. The cash effect of changes in each of these factors is discussed below.
CASH MARGIN MANAGEMENT
PROFITABILITY: During the current period, the Gross Profit Margin (excluding Cost of Goods Sold depreciation) declined from 27.82% to 23.76%
which reduced Cash After Operations during the period by 504.
Over the past 4 periods, the cumulative effect on cash of the period-to-period changes in the Gross Profit Margin totaled -313 and averaged -78.
Operating expenses (excluding depreciation) as a percentage of sales increased from 20.71% to 22.18% during the current period, which reduced Cash
After Operations by 183.
Over the past 4 periods, the cumulative effect on cash flow of the period-to-period change in Operating Expenses (excluding depreciation) as a
percentage of sales totaled -404 and averaged -101.
Overall, the combination of the change in Gross Profit Margin and Operating Expenses as a percentage of Sales produced a negative cash effect of 687.
TRADING ACCOUNT MANAGEMENT
ACCOUNTS RECEIVABLE: During the current period, the business converted its sales to cash more quickly than in the previous period. The reduction
in A/R days from 54.10 days to 47.26 days increased Cash After Operations by 233.
Over the past 4 periods, the cumulative effect on cash flow of the period-to-period change in A/R days totaled 151 and averaged 38.
INVENTORY: During the current period, relative levels of inventory increased from the prior period. The change in inventory due to management
decreased Cash After Operations by 166.
Over the past 4 periods, the cumulative effect on cash flow of the period-to-period change in inventory totaled -494 and averaged -124.
Page 50
ACCOUNTS PAYABLE: During the current period, relative levels of accounts payable increased from the prior period. The change in accounts payable
due to management was 54.
Over the past 4 periods, the cumulative effect on cash flow of the period-to-period change in the accounts payable days totaled 278 and averaged 69.
OTHER OPERATING ASSETS: During the current period, an increase in other operating assets from 119 to 131 decreased Cash After Operations.
The cash effect of management (vs. sales growth) was -6.
ACCRUED EXPENSES: During the current period, relative levels of accrued expenses increased from the prior period. The change in accrued
expenses due to management was 32.
The management of trading accounts produced a 120 net effect on Cash After Operations. The management of the Other Factors produced a 26 net
effect. Overall, the combined management of trading accounts and other factors produced a 146 net effect on Cash After Operations.
For analysis, consider the following issues:
With positive Cash After Operations during the period, the business was capable of funding its trading cycle from internal operations. While an increase
in trading accounts absorbed 92 in cash flow, Operating Profit (excluding depreciation) covered this increase and allowed the business to realize 104 of
CASH EFFECT OF SALES GROWTH
During the period, sales increased by 4.82%. An increase in sales generally requires a proportional increase in trading accounts and this produced a 259 net cash effect. Other factors had a 21 net effect. Overall, the combined growth of trading accounts and other factors produced a -238 net effect on
Over the past 4 periods, the cumulative effect on cash flow of the period-to-period changes in trading accounts due to sales growth totaled -804 and
averaged -201. The combined growth of trading accounts and other factors totaled -723 and averaged -181.
Page 51
Financial Statements Alerts

Financial Statement Alerts
Based on unqualifid financial data for fiscal year 2005.
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
industry code 315228, Men's and boys' cut and sew other outerwear manufacturing, for comparative purposes. The peer group consists of 56
companies.
This report presents comments about problems found in the financial statements of MMAS Sample Customer. These comments direct the analyst's
attention to special conditions or potential problems. In addition, this report generates notes about potential discrepancies and areas of concern on the
borrower's financial reports.
INDUSTRY VALUES
There are no comparative industry values available for Net Profit + Depr./Cur. Mat. LTD for the SIC code and asset size category you selected. You
may want to select a different asset size category
INCOME TAXES
You may be concerned about contingent tax liabilities based on the low effective tax rate and/or the low average effective tax rate. These rates are
calculated on the most recent annual income statement.
The tax rate may have resulted from Investment Tax Credits or Net Operating Loss Carry Forwards. Audited statements will reconcile the effective to
statutory rate. However, if the statements are not audited, look in particular for the following possible warning signals:
- Recent tax audits,
- Aggressive use of tax shelters, and/or
- Primarily cash operations.
You should take these warning signals into account when estimating tax contingent liabilities. You can also use a footnote to point out concerns and
relevant facts.
GROSS FIXED ASSETS
In this period, accumulated depreciation is 62.55% of Gross Fixed Assets. This percentage indicates the borrower may need higher than planned capital
expenditures to support future operations.
If this percentage has been consistently high in recent years, you should investigate it further with the borrower. In your analysis, you should pay close
attention to its effect on the company's projected financial condition.
Page 52
Summary of Financial Parameters

Summary of Financial Parameters
Prepared: 17:58, 9/22/2005

MMAS (3.1.6.0)
industry code 315228 - Men's and boys' cut and sew other outerwear manufacturing, for comparative purposes. The peer group consists of 56
companies.
Moderate
Sales Growth (%) Change
Gross Margin (%) Change
Operating Expenses (%) Change
A/R Days Change
Inventory Days Change
A/P Days Change
UCA Cash Flow/CPLTD Change
Net Income+Depr+Amort-Divs/CPLTD Change
Debt/TNW Change
Net Margin (PB4T/Sales) Change
EBIT/Interest Change
Current Ratio
Quick Ratio
Profit Before Tax/TNW
Profit Before Tax/TA
Net Sales/Fixed Assets
Operating Exp/Gross Margin
% Capital Exp. Over Expected
% Capital Exp. Under Expected
2.00
0.25
0.25
2.00
2.00
2.00
0.15
0.15
0.10
0.25
0.15
0.10
0.10
1.00
0.25
0.25
0.10
0.25
1.00
10.00
10.00
Significant
8.00
2.50
2.50
8.00
8.00
8.00
1.00
1.00
0.50
1.50
1.00
0.50
0.50
4.00
2.00
2.00
1.50
1.50
4.00
Adequate
UCA Cash Flow/CPLTD
EBIT/Interest
1.00
1.00
1.00
Page 53

EDF MEASURES REPORTS
TM
The EDF Measures Reports include both Moodys KMV RiskCalc
and CreditEdge sample reports.

TM
TM
RiskAnalyst is integrated with RiskCalc, which provides you with Estimated Default Frequency (EDF ) credit measures for
private companies. Built from over 15 years of experience with market and fundamental data and modeling, EDF credit
measures have been extensively validated on defaults and have become the de facto standard for lenders and investors. The
General Business Financial Template (MMAS) is integrated with the following geographic specific RiskCalc models:
United States
Canada
Australia
The RiskCalc for Private Firm report is based on RiskCalc for the United States.
RiskAnalyst is also integrated with CreditEdge, which provides you with Estimated Default Frequency (EDF) credit measures
for public companies. The CreditEdge report shows the information available in RiskAnalyst for public companies.
Page 54
RiskCalc for Private Firm

RiskCalc for Private Firm (United States) - Version 3.1
EDFs calculated with Credit Cycle Adjustments
Statement Date
6/30/2001
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
Prepared: 17:58, 9/22/2005

SYSTEMREPORTS (3.1.8.0)
6/30/2002
12
Unqualif'd
KPMG
GJH
Annual
6/30/2003
12
Unqualif'd
KPMG
GJH
Annual
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
Exchange Rate:
Exchange Rate Date:
1
6/30/2001
1
6/30/2002
1
6/30/2003
1
6/30/2004
1
6/30/2005
1 Yr Bond Default Rate Mapping

1 Yr Percentile
1 Yr Custom Rating
Ba2.edf
59.02
N/A
Ba3.edf
69.72
N/A
Baa3.edf
34.71
N/A
Baa2.edf
17.31
N/A
B2.edf
86.44
N/A

5 Yr Percentile
5 Yr Custom Rating
Ba2.edf
62.42
N/A
Ba3.edf
77.21
N/A
Ba1.edf
42.59
N/A
Baa3.edf
28.96
N/A
B1.edf
86.15
N/A
Cumulative EDFs:
1 Year
2 Year
3 Year
4 Year
5 Year
1.24
2.59
3.98
5.39
6.81
1.76
3.63
5.52
7.42
9.31
0.62
1.45
2.39
3.39
4.45
0.30
0.85
1.57
2.42
3.37
4.26
6.84
8.98
10.88
12.60
Forward EDFs:
1 Year
2 Year
3 Year
4 Year
5 Year
1.24
1.37
1.43
1.47
1.50
1.76
1.91
1.97
2.01
2.04
0.62
0.84
0.95
1.03
1.09
0.30
0.56
0.72
0.86
0.98
4.26
2.69
2.30
2.08
1.93
Annualized EDFs:
1 Year
2 Year
3 Year
4 Year
5 Year
1.24
1.30
1.35
1.38
1.40
1.76
1.83
1.88
1.91
1.93
0.62
0.73
0.80
0.86
0.91
0.30
0.43
0.53
0.61
0.68
4.26
3.48
3.09
2.84
2.66
1-Yr. Relative Contributions:

Return On Assets (ROA)
Sales Growth
Cash to Assets
Change in AR Turnover
Change in Return On Assets (ROA)
Inventory to Sales
Cash Flow to Interest Expense
Retained Earnings to Current Liabilities
Current Liabilities to Sales
Leverage
Size
-31.63
N/A
23.61
N/A
N/A
9.24
-19.90
-9.40
-0.75
1.20
-4.27
-9.26
-8.49
15.56
10.24
17.74
7.58
18.55
-0.49
8.39
0.79
-2.92
-22.58
-12.24
17.01
-1.77
-15.10
7.95
-4.90
-4.18
5.29
-5.71
-3.27
-19.95
-8.06
15.59
-9.23
-14.44
7.59
-4.22
-3.60
5.35
-9.05
-2.93
40.60
-6.10
9.21
-0.90
15.55
4.89
11.74
0.22
4.93
4.05
-1.82

Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
-14.59
N/A
22.75
N/A
N/A
17.62
-24.43
-10.16
-0.70
1.14
-8.62
-3.98
-10.38
13.99
7.18
15.76
13.48
21.25
-0.49
7.28
0.70
-5.51
-10.29
-15.85
16.20
-1.32
-14.21
14.97
-5.95
-4.47
4.86
-5.36
-6.53
-9.34
-10.71
15.25
-7.04
-13.96
14.69
-5.27
-3.95
5.05
-8.73
-6.01
21.48
-9.16
10.19
-0.77
16.98
10.70
16.55
0.28
5.26
4.41
-4.22
1-Yr. Relative Sensitivities:

-12.76
-268.67
-92.82
-34.41
-103.13
Page 55

Statement Date
6/30/2001 6/30/2002 6/30/2003 6/30/2004
Months Covered
12
12
12
12
Audit Mthd
Unqualif'd Unqualif'd Unqualif'd Unqualif'd
Accountant
KPMG
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Prepared: 17:58, 9/22/2005

6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
0.00
-358.58
0.00
0.00
23.18
-76.82
-124.92
87.10
99.14
-17.51
-54.38
-223.80
70.88
-45.24
11.59
-158.99
-159.09
36.61
62.14
-8.60
-1.89
-210.36
-86.42
72.32
19.47
-295.44
-164.10
68.46
71.62
-17.10
38.15
-371.33
-35.12
-39.86
14.47
-293.75
-144.34
58.99
58.85
-10.73
-19.93
-301.65
-70.59
-24.36
10.86
-205.13
-217.71
47.11
92.32
-7.21

Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
-5.44
0.00
-346.17
0.00
0.00
40.83
-87.07
-126.00
74.82
86.96
-32.70
-134.36
-76.20
-240.96
56.99
-46.08
23.67
-215.54
-188.02
36.43
63.14
-18.60
-45.33
-2.64
-193.47
-69.03
73.35
39.63
-328.23
-171.16
67.83
72.47
-36.87
-16.95
53.45
-305.39
-28.27
-40.45
31.72
-320.51
-162.05
57.61
58.71
-24.89
-47.79
-26.24
-291.97
-53.33
-23.31
20.81
-253.22
-236.53
44.03
88.13
-14.64
Percentiles:
Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
77.32
N/A
35.79
N/A
N/A
89.30
N/A
59.71
52.08
66.52
46.07
38.08
33.42
42.26
88.36
15.08
92.15
19.06
45.36
77.35
66.43
49.84
57.04
48.44
47.14
23.59
76.17
90.26
50.65
53.80
66.44
58.01
47.59
63.75
66.16
36.33
39.31
66.70
92.03
50.79
53.90
68.01
51.44
49.46
9.11
45.91
30.52
22.37
9.63
94.14
16.89
42.95
76.74
73.10
53.15
Ratios or Levels:
Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
10.73
2.53
5.46
6.80
-5.92
N/A
0.58
5.69
12.46
4.82
1.70
2.42
3.11
1.75
1.20
N/A
3.13
-1.72
-0.41
-1.87
N/A
-8.21
2.93
1.34
-12.72
19.53
22.18
20.32
22.03
24.61
N/A
73.81
431.97
433.99
30.07
108.97
64.92
88.43
88.74
58.94
15.74
25.02
20.09
20.69
24.67
34.57
34.46
25.01
18.33
42.49
417,926.96 490,396.55 445,691.62 482,635.37 569,864.36
When defining percentiles, be aware that observations in the sample population are sorted in order of increasing ratio value. This means that the item's
impact on risk relative to its location within a certain percentile depends upon the relationship between the ratio and risk. An item that is in a high
percentile for profitability has a positive impact by lowering the probability of default, since more profitable companies have lower risk of default.
Conversely, an item in a high percentile in a leverage ratio has a negative impact, since a highly leveraged company has a higher risk of default.
Page 56
Credit Edge
CreditEdge Report - Version 2
MICROSOFT CORP
MKMVID: 594918
EDF Type: Annual
Trading Date: 9/23/2005
Published Outputs
Dates Requested
9/23/2005
6/30/2005
6/30/2004
6/30/2003
6/30/2002
6/30/2001
CreditEdge Statement Date

Trading Date
6/30/2005
9/23/2005
3/31/2005
6/30/2005
3/31/2004
6/30/2004
3/31/2003
6/30/2003
3/29/2002
6/30/2002
3/30/2001
6/30/2001
USD
UNITED STATES
COMPUTER SOFTWARE
7372
USD
UNITED STATES
COMPUTER SOFTWARE
7372
USD
UNITED STATES
COMPUTER SOFTWARE
7372
USD
UNITED STATES
COMPUTER SOFTWARE
7372
USD
UNITED STATES
COMPUTER SOFTWARE
7372
USD
UNITED STATES
COMPUTER SOFTWARE
7372
annual
0.02
0.02
0.02
0.02
0.02
annual
0.02
0.02
0.02
0.02
0.02
annual
0.02
0.02
0.02
0.02
0.03
annual
0.05
0.07
0.08
0.09
0.10
annual
0.06
0.08
0.09
0.10
0.11
annual
0.03
0.04
0.05
0.06
0.06
EDF Drivers
Default Point (Year 1)
Debt Due Year 2
Debt Due Year 3
Debt Due Year 4
Debt Due Year 5
19,788,500.00
0.00
0.00
0.00
0.00
17,520,500.00
0.00
0.00
0.00
0.00
16,690,328.13
0.00
0.00
0.00
0.00
14,496,000.00
0.00
0.00
0.00
0.00
12,931,000.00
0.00
0.00
0.00
0.00
9,740,000.00
0.00
0.00
0.00
0.00
Market Data
Market Capitalization
Share Price
Shares Outstanding
Share Equivalents
Market Leverage
Equity Volatility
0.00
0.00
10,712,706.05
9,265,907.23
0.07
0.21
0.00
0.00
10,804,000.98
10,745,315.43
0.06
0.23
0.00
0.00
10,777,000.00
10,728,973.63
0.05
0.27
0.00
0.00
10,722,000.00
10,816,034.18
0.05
0.35
0.00
0.00
5,415,000.00
5,372,750.49
0.04
0.39
0.00
0.00
5,336,000.00
5,241,057.13
0.02
0.40
Financial Data
Short Term Liabilities
Long Term Liabilities
Total Adjusted Liabilities
Deferred Tax
Minority Interest
Total Liabilities
Other Liabilities
16,877,000.00
5,823,000.00
22,700,000.00
0.00
0.00
22,700,000.00
5,823,000.00
16,139,000.00
2,763,000.00
18,902,000.00
0.00
0.00
18,902,000.00
2,763,000.00
15,984,000.00
1,412,654.30
17,396,654.30
1,790,345.34
0.00
19,187,000.00
1,412,654.66
13,161,000.00
2,670,000.00
15,831,000.00
369,000.00
0.00
16,200,000.00
2,670,000.00
11,842,000.00
2,178,000.00
14,020,000.00
59,000.00
0.00
14,079,000.00
2,178,000.00
9,740,000.00
0.00
9,740,000.00
1,775,000.00
0.00
11,515,000.00
0.00
3,427,199.71
0.00
3,457,280.03
0.00
1,724,320.07
0.00
857,759.95
0.00
0.00
0.00
0.00
0.00
Currency
Primary Country
Primary Industry
Primary SIC
Prepared: 15:12, 9/26/2005

Yearly EDF
EDF Type
EDF 1
EDF 2
EDF 3
EDF 4
EDF 5
Common Dividends
Preferred Dividends
Page 57
CreditEdge Report - Version 2

MICROSOFT CORP
MKMVID: 594918
EDF Type: Annual
Trading Date: 9/23/2005
Published Outputs
Dates Requested
Prepared: 15:12, 9/26/2005

9/23/2005
6/30/2005
6/30/2004
6/30/2003
6/30/2002
6/30/2001
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
AA
6/30/2004
N/A
N/A
AA
6/30/2003
N/A
N/A
AA
6/30/2002
N/A
N/A
AA
6/30/2001
Industry Details
Industry 1
Industry Code
Industry Name
Weight
N09
BUSINESS SERVICES
4.28
N09
BUSINESS SERVICES
4.72
N09
BUSINESS SERVICES
5.11
N09
BUSINESS SERVICES
0.61
N09
BUSINESS SERVICES
1.41
N09
BUSINESS SERVICES
8.29
Industry 2
Industry Code
Industry Name
Weight
N11
COMPUTER HARDWARE
0.25
N11
COMPUTER HARDWARE
0.20
N11
COMPUTER HARDWARE
0.14
N11
N11
COMPUTER HARDWARE COMPUTER HARDWARE
1.34
1.77
N12
COMPUTER SOFTWARE
62.57
Industry 3
Industry Code
Industry Name
Weight
N12
COMPUTER SOFTWARE
89.77
N12
COMPUTER SOFTWARE
89.54
N12
COMPUTER SOFTWARE
88.75
N12
COMPUTER SOFTWARE
93.71
N12
COMPUTER SOFTWARE
67.43
N57
UNASSIGNED
29.14
Industry 4
Industry Code
Industry Name
Weight
N17
CONSUMER PRODUCTS
5.70
N17
CONSUMER PRODUCTS
5.54
N17
CONSUMER PRODUCTS
6.00
N17
N17
CONSUMER PRODUCTS CONSUMER PRODUCTS
3.77
2.28
N/A
N/A
N/A
Industry 5
Industry Code
Industry Name
Weight
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N45
PUBLISHING
0.57
N45
PUBLISHING
0.76
N/A
N/A
N/A
Industry 6
Industry Code
Industry Name
Weight
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N57
UNASSIGNED
26.36
N/A
N/A
N/A
Agency Ratings
Moody's Rating
Moody's Rating Date
S & P Rating
S & P Rating Date
Page 58

LONG-TERM PROJECTION REPORTS
Long-Term Projection Reports are used to project borrower financial statement data into future periods. With Long-Term
Projections, the analyst can project annual, fiscal year-to-date, quarterly, or monthly statements.
In addition to the sample Long-Term Projection Reports shown in this document, the following reports are also available:
3.
Long-Term Projections: Detailed Income Statement Actual
4.
Long-Term Projections: Detailed Balance Sheet %
5.
Long-Term Projections: Detailed Income Statement %
6.
Long-Term Projections: Detailed Comprehensive Income Statement %
7.
Long-Term Projections: Detailed Income Statement Actual and %
8.
Long-Term Projections: Detailed Balance Sheet Exchange Rate
9.
Long-Term Projections: Detailed Balance Sheet Trend
10.
Long-Term Projections: Detailed Reconciliations
11.
Long-Term Projections: Detailed FAS 95 Stmt of Cash Flows (Direct)
12.
Long-Term Projections: Detailed Ratios
13.
Long-Term Projections: Summary Balance Sheet Actual
14.
Long-Term Projections: Summary Income Statement Actual
15.
Long-Term Projections: Summary Comprehensive Income Statement Actual
16.
Long-Term Projections: Summary Balance Sheet %
17.
Long-Term Projections: Summary Income Statement %
18.
Long-Term Projections: Summary Comprehensive Income Statement %
19.
Long-Term Projections: Summary Balance Sheet Actual and %
20.
Long-Term Projections: Summary Comprehensive Income Statement Actual and %
21.
Long-Term Projections: Summary Reconciliations
22.
Long-Term Projections: Summary UCA Cash Flow
23.
Long-Term Projections: Summary FAS 95 Stmt of Cash Flows (Indirect)
24.
Long-Term Projections: Summary Cash Flow Management
25.
Long-Term Projections: Executive Financial Statement Actual
26.
Long-Term Projections: Executive Financial Statement %
27.
Long-Term Projections: Executive Reconciliations & Ratios
28.
Long-Term Projections: Executive FAS 95 Stmt of Cash Flows (Indirect)
29.
Long-Term Projections: Notes to Financial Statements
30.
Long-Term Projections: Credit Compliance Report
31.
Long-Term Projections: Asset Based Lending Report
32.
Long-Term Projections: Balance Sheet Account Assumptions
33.
Long-Term Projections: Income Statement Account Assumptions
34.
Long-Term Projections: Quick Projection Variable
Page 59
Long-Term Projections: Detailed Balance Sheet Actual

Projection Title: Long term
Statement Date
6/30/2003 6/30/2004 6/30/2005 6/30/2006 6/30/2007
Months Covered
12
12
12
12
12
Audit Mthd
Unqualif'd Unqualif'd Unqualif'd Projection Projection
Accountant
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
CURRENT ASSETS
Cash
Total Accts/Rec-Net
Inventory
Prepaid Expenses
NON-CURRENT ASSETS
Gross Fixed Assets
Other Assets
TOTAL ASSETS
CURRENT LIABILITIES
Required Borrowings
Note Payable - Bank
CPLTD-Bank
Accrued Expenses
Long Term Debt
TOTAL LIABILITIES
NET WORTH
Common Stock
Retained Earnings
TOTAL NET WORTH
90
1,842
86
1,756
2,610
119
4,575
75
1,698
90
1,608
3,056
131
4,870
129
2,027
93
1,934
3,122
152
5,337
144
2,203
101
2,101
3,453
177
5,875
1,922
356
2,278
1,675
603
18
66
687
4,636
2,011
421
2,432
1,912
520
20
20
560
5,135
2,957
568
3,525
2,205
1,320
22
22
1,364
6,234
3,471
678
4,149
2,591
1,558
26
26
1,609
6,947
3,993
780
4,773
3,039
1,734
30
30
1,793
7,668
1,148
142
583
214
30
2,117
1,134
115
980
222
2,451
1,475
169
1,139
281
3,064
1,265
1,475
169
1,071
305
4,285
2,682
1,475
169
1,184
332
5,842
630
630
2,747
492
492
2,943
1,347
1,347
4,411
1,347
1,347
5,632
1,347
1,347
7,189
17
1,872
1,889
4,636
17
2,175
2,192
5,135
17
1,806
1,823
6,234
17
1,298
1,315
6,947
17
462
479
7,668
1,832
1,889
2,124
2,192
1,806
1,823
1,052
1,315
33
479
Working Capital
144
1,669
64
1,605
2,141
59
3,949
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
Page 60
Long-Term Projections: Detailed Comprehensive Income Statement Actual

Detailed Comprehensive Income Statement - Actual
Statement Date
6/30/2003 6/30/2004 6/30/2005 6/30/2006 6/30/2007
Months Covered
12
12
12
12
12
Audit Mthd
Accountant
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
NET SALES/REVENUE
9,477
1,058
10,535
9,564
2,284
11,848
9,317
3,102
12,419
10,122
3,370
13,492
10,997
3,661
14,658
7,739
239
7,978
2,557
8,552
224
8,776
3,072
9,468
273
9,741
2,678
10,354
361
10,714
2,778
11,452
419
11,871
2,786
2,114
13
2,127
430
2,454
17
2,471
601
2,755
21
2,776
(98)
3,117
25
3,142
(364)
3,540
29
3,569
(783)
147
147
47
(100)
330
153
153
32
13
(108)
493
306
306
35
(271)
(369)
157
18
143
318
38
(280)
(644)
157
18
143
318
41
(277)
(1,059)
77
253
144
349
(369)
(113)
(531)
(186)
(874)
EBIT
EBITDA
EBIDA
477
729
652
646
887
743
(63)
231
231
(326)
60
172
(741)
(293)
(107)
253
349
(369)
(531)
(874)
(46)
23
38
Cost of Goods Sold

GROSS PROFIT
SG & A Expense
Depreciation
Int. Exp. ST Loans Payable-Bank
Int. Exp. CPLTD-Bank
Int. Exp. Long Term Debt-Bank
Total Interest Expense
Other Income
PROFIT BEFORE TAXES
Current Income Tax
NET PROFIT
Dividends - Common
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
Page 61
Long-Term Projections: Detailed Balance Sheet Actual and %

Detailed Balance Sheet - Actual and %
Statement Date
6/30/2003
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
CURRENT ASSETS
Cash
Total Accts/Rec-Net
Inventory
Prepaid Expenses
TOTAL CURRENT
ASSETS
NON-CURRENT ASSETS
Property Plant &
Equipment
Furniture, Fixtures &
Vehicles
Gross Fixed Assets
Other Assets
TOTAL NON-CURRENT
ASSETS
TOTAL ASSETS
CURRENT LIABILITIES
Required Borrowings
Note Payable - Bank
CPLTD-Bank
Accrued Expenses
TOTAL CURRENT
LIABILITIES
Long Term Debt
TOTAL NON-CURRENT
LIABILITIES
TOTAL LIABILITIES
NET WORTH
Common Stock
Retained Earnings
TOTAL NET WORTH
TOTAL LIABILITIES &
NET WORTH
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
6/30/2006
12
Projection
6/30/2007
12
Projection
Annual
Annual
144
1,669
64
1,605
2,141
59
3,949
3.1
36.0
1.4
34.6
46.2
1.3
85.2
90
1,842
86
1,756
2,610
119
4,575
1.8
35.9
1.7
34.2
50.8
2.3
89.1
75
1,698
90
1,608
3,056
131
4,870
1.2
27.2
1.4
25.8
49.0
2.1
78.1
129
2,027
93
1,934
3,122
152
5,337
1.9
29.2
1.3
27.8
44.9
2.2
76.8
144
2,203
101
2,101
3,453
177
5,875
1.9
28.7
1.3
27.4
45.0
2.3
76.6
1,922
41.5
2,011
39.2
2,957
47.4
3,471
50.0
3,993
52.1
356
7.7
421
8.2
568
9.1
678
9.8
780
10.2
2,278
1,675
603
18
66
687
49.1
36.1
13.0
0.4
1.4
14.8
2,432
1,912
520
20
20
560
47.4
37.2
10.1
0.4
0.4
10.9
3,525
2,205
1,320
22
22
1,364
56.5
35.4
21.2
0.4
0.4
21.9
4,149
2,591
1,558
26
26
1,609
59.7
37.3
22.4
0.4
0.4
23.2
4,773
3,039
1,734
30
30
1,793
62.2
39.6
22.6
0.4
0.4
23.4
4,636
100.0
5,135
100.0
6,234
100.0
6,947
100.0
7,668
100.0
1,148
142
583
214
30
2,117
24.8
3.1
12.6
4.6
0.6
45.7
1,134
115
980
222
2,451
22.1
2.2
19.1
4.3
47.7
1,475
169
1,139
281
3,064
23.7
2.7
18.3
4.5
49.1
1,265
1,475
169
1,071
305
4,285
18.2
21.2
2.4
15.4
4.4
61.7
2,682
1,475
169
1,184
332
5,842
35.0
19.2
2.2
15.4
4.3
76.2
630
630
13.6
13.6
492
492
9.6
9.6
1,347
1,347
21.6
21.6
1,347
1,347
19.4
19.4
1,347
1,347
17.6
17.6
2,747
59.3
2,943
57.3
4,411
70.8
5,632
81.1
7,189
93.7
17
1,872
1,889
4,636
0.4
40.4
40.7
100.0
17
2,175
2,192
5,135
0.3
42.4
42.7
100.0
17
1,806
1,823
6,234
0.3
29.0
29.2
100.0
17
1,298
1,315
6,947
0.2
18.7
18.9
100.0
17
462
479
7,668
0.2
6.0
6.3
100.0
1,832
1,889
39.5
40.7
2,124
2,192
41.4
42.7
1,806
1,823
29.0
29.2
1,052
1,315
15.1
18.9
33
479
0.4
6.3
Working Capital
Page 62
Long-Term Projections: Detailed Comprehensive Income Statement Actual and %

Detailed Comprehensive Income Statement - Actual and %
Statement Date
6/30/2003
6/30/2004
Months Covered
12
12
Audit Mthd
Unqualif'd
Unqualif'd
Accountant
KPMG
KPMG
Analyst
GJH
GJH
Stmt Type
Annual
Annual
NET SALES/REVENUE
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
6/30/2006
12
Projection
6/30/2007
12
Projection
Annual
Annual
9,477
1,058
10,535
90.0
10.0
100.0
9,564
2,284
11,848
80.7
19.3
100.0
9,317
3,102
12,419
75.0
25.0
100.0
10,122
3,370
13,492
75.0
25.0
100.0
10,997
3,661
14,658
75.0
25.0
100.0
7,739
239
7,978
2,557
73.5
2.3
75.7
24.3
8,552
224
8,776
3,072
72.2
1.9
74.1
25.9
9,468
273
9,741
2,678
76.2
2.2
78.4
21.6
10,354
361
10,714
2,778
76.7
2.7
79.4
20.6
11,452
419
11,871
2,786
78.1
2.9
81.0
19.0
2,114
13
2,127
430
20.1
0.1
20.2
4.1
2,454
17
2,471
601
20.7
0.1
20.9
5.1
2,755
21
2,776
(98)
22.2
0.2
22.4
(0.8)
3,117
25
3,142
(364)
23.1
0.2
23.3
(2.7)
3,540
29
3,569
(783)
24.2
0.2
24.3
(5.3)
147
147
47
(100)
330
1.4
1.4
0.4
(0.9)
3.1
153
153
32
13
(108)
493
1.3
1.3
0.3
0.1
(0.9)
4.2
306
306
35
(271)
(369)
2.5
2.5
0.3
(2.2)
(3.0)
157
18
143
318
38
(280)
(644)
1.2
0.1
1.1
2.4
0.3
(2.1)
(4.8)
157
18
143
318
41
(277)
(1,059)
1.1
0.1
1.0
2.2
0.3
(1.9)
(7.2)
77
253
0.7
2.4
144
349
1.2
2.9
(369)
(3.0)
(113)
(531)
(0.8)
(3.9)
(186)
(874)
(1.3)
(6.0)
EBIT
EBITDA
EBIDA
477
729
652
4.5
6.9
6.2
646
887
743
5.5
7.5
6.3
(63)
231
231
(0.5)
1.9
1.9
(326)
60
172
(2.4)
0.4
1.3
(741)
(293)
(107)
(5.1)
(2.0)
(0.7)
253
2.4
349
2.9
(369)
(3.0)
(531)
(3.9)
(874)
(6.0)
Cost of Goods Sold

GROSS PROFIT
SG & A Expense
Depreciation
Other Income
PROFIT BEFORE TAXES
Current Income Tax
NET PROFIT
Dividends - Common
(46)
23
38
Page 63
Long-Term Projections: Detailed Income Statement Exchange Rate

Detailed Income Statement - Exchange Rate
Statement Date
6/30/2003
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
Currency
Target
Exchange Rate
NET SALES/REVENUE
Cost of Goods Sold
GROSS PROFIT
SG & A Expense
Depreciation
Other Income
PROFIT BEFORE TAXES
Current Income Tax
NET PROFIT
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
Source
Target
Dividends - Common
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
Source
Target
6/30/2006
12
Projection
Source
Annual
Target
6/30/2007
12
Projection
Source
Annual
Target
Source
1.00000
EBIT
EBITDA
EBIDA
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
1.00000
1.00000
1.00000
1.00000
9,477
1,058
10,535
9,477
1,058
10,535
9,564
2,284
11,848
9,564
2,284
11,848
9,317
3,102
12,419
9,317
3,102
12,419
10,122
3,370
13,492
10,122
3,370
13,492
10,997
3,661
14,658
10,997
3,661
14,658
7,739
239
7,978
2,557
7,739
239
7,978
2,557
8,552
224
8,776
3,072
8,552
224
8,776
3,072
9,468
273
9,741
2,678
9,468
273
9,741
2,678
10,354
361
10,714
2,778
10,354
361
10,714
2,778
11,452
419
11,871
2,786
11,452
419
11,871
2,786
2,114
13
2,127
430
2,114
13
2,127
430
2,454
17
2,471
601
2,454
17
2,471
601
2,755
21
2,776
(98)
2,755
21
2,776
(98)
3,117
25
3,142
(364)
3,117
25
3,142
(364)
3,540
29
3,569
(783)
3,540
29
3,569
(783)
147
147
47
(100)
330
147
147
47
(100)
330
153
153
32
13
(108)
493
153
153
32
13
(108)
493
306
306
35
(271)
(369)
306
306
35
(271)
(369)
157
18
143
318
38
(280)
(644)
157
18
143
318
38
(280)
(644)
157
18
143
318
41
(277)
(1,059)
157
18
143
318
41
(277)
(1,059)
77
253
77
253
144
349
144
349
(369)
(369)
(113)
(531)
(113)
(531)
(186)
(874)
(186)
(874)
477
729
652
477
729
652
646
887
743
646
887
743
(63)
231
231
(63)
231
231
(326)
60
172
(326)
60
172
(741)
(293)
(107)
(741)
(293)
(107)
(46)
(46)
23
23
38
38
Page 64
Long-Term Projections: Detailed Income Statement Trend

Detailed Income Statement - Trend
Statement Date
6/30/2003
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
NET SALES/REVENUE
Cost of Goods Sold
GROSS PROFIT
SG & A Expense
Depreciation
Other Income
PROFIT BEFORE TAXES
Current Income Tax
NET PROFIT
6/30/2004
12
Unqualif'd
KPMG
Trend
GJH
% Chg
Annual
7,739
239
7,978
2,557
2,114
13
2,127
430
147
147
47
(100)
330
6/30/2007
12
Projection
Trend
% Chg
Annual
Trend
% Chg
Annual
Trend
% Chg
77
253
0.9
115.9
12.5
9,317
3,102
12,419
(2.6)
35.8
4.8
10,122
3,370
13,492
8.6
8.6
8.6
10,997
3,661
14,658
8.6
8.6
8.6
8,552
224
8,776
3,072
10.5
(6.3)
10.0
20.1
9,468
273
9,741
2,678
10.7
21.9
11.0
(12.8)
10,354
361
10,714
2,778
9.4
32.1
10.0
3.7
11,452
419
11,871
2,786
10.6
16.3
10.8
0.3
2,454
17
2,471
601
16.1
30.8
16.2
39.8
2,755
21
2,776
(98)
12.3
23.5
12.3
(116.3)
3,117
25
3,142
(364)
13.1
19.0
13.2
271.5
3,540
29
3,569
(783)
13.6
16.3
13.6
115.0
153
153
32
13
(108)
493
4.1
100.0
(100.0)
4.1
(31.9)
100.0
9.4
(100.0)
150.9
(174.8)
157
18
143
318
38
(280)
(644)
157
18
143
318
41
(277)
(1,059)
(1.2)
64.4
8.0
49.4
144
349
87.0
37.9
(369)
(100.0)
(205.7)
(113)
(531)
44.0
(186)
(874)
64.4
64.4
646
887
743
35.4
21.7
14.0
(63)
231
231
(109.8)
(74.0)
(68.9)
(326)
60
172
417.5
(74.2)
(25.4)
(741)
(293)
(107)
127.4
(591.3)
(162.3)
306
306
35
(271)
(369)
(46)
477
729
652
6/30/2006
12
Projection
9,564
2,284
11,848
Dividends - Common
6/30/2005
12
Unqualif'd
KPMG
Trend
GJH
% Chg
Annual
9,477
1,058
10,535
EBIT
EBITDA
EBIDA
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
4.0
8.6
3.4
74.6
(100.0)
23
8.6
38
64.4
Page 65
Long-Term Projections: Detailed UCA Cash Flow

Statement Date
6/30/2003 6/30/2004 6/30/2005 6/30/2006 6/30/2007
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Cost of Goods Sold
Chg in Inventory
CASH FROM TRADING
ACTIVITIES
SG & A Expense
Other Income
Current Income Tax
Other Income(Exp) & Taxes Paid
CPLTD-Bank
CASH AFTER DEBT AMORT.
Depreciation
Chg in Other Assets
Chg in Investments
9,317
3,102
144
4
12,567
10,122
3,370
(329)
3
13,166
10,997
3,661
(175)
8
14,491
(8,552)
(469)
397
(8,624)
(9,468)
(446)
159
(9,755)
(10,354)
(66)
(68)
(10,488)
(11,452)
(331)
114
(11,670)
3,073
2,812
2,678
2,821
(2,454)
(60)
8
(2,506)
567
(2,755)
(12)
59
(2,708)
104
(3,117)
(21)
24
(3,113)
(435)
(3,540)
(24)
26
(3,538)
(717)
32
(144)
(30)
(142)
425
35
35
139
38
113
151
(285)
41
186
227
(490)

Dividends - Common
NET CASH INCOME
9,564
2,284
(173)
22
11,697
(157)
(18)
(143)
38
(280)
(770)
(142)
(142)
84
(115)
(115)
(282)
(169)
(169)
(748)
(169)
(169)
(939)
(89)
(65)
237
(224)
(17)
13
(145)
(946)
(147)
293
(273)
(21)
(1,094)
(514)
(110)
386
(361)
(25)
(624)
(522)
(102)
448
(419)
(29)
(624)
(2)
46
44
(2)
(2)
(4)
(4)
(4)
(7)
(4)
(4)
(8)
(157)
(18)
(143)
23
(295)
(579)
(306)
(306)
(167)
(153)
(46)
(199)
226
(101)
(1,098)
(631)
(632)
(17)
(1,380)
(1,380)
(1,571)
Chg in Required Borrowings

(14)
(23)
(37)
(54)
341
1,024
1,365
(15)
1,265
169
1,434
54
1,417
169
1,586
15
144
90
90
75
75
129
129
144
Add:
Cash
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
Page 66
Long-Term Projections: Detailed FAS 95 Stmt of Cash Flows (Indirect)

Statement Date
6/30/2003 6/30/2004 6/30/2005 6/30/2006 6/30/2007
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Net Income
Reconciling Items
Depreciation
Chg in Inventory
Total Adjustments
NET CASH PROVIDED
BY OPERATIONS

Depreciation

Chg in Other Assets
Chg in Investments
(369)
(531)
(874)
224
17
(13)
(173)
22
(469)
(60)
397
8
(30)
(77)
273
21
144
4
(446)
(12)
159
59
202
361
25
(329)
3
(66)
(21)
(68)
24
(71)
419
29
(175)
8
(331)
(24)
114
26
66
272
(167)
(603)
(808)
(89)
(65)
237
(224)
(17)
13
(145)
(946)
(147)
293
(273)
(21)
(1,094)
(514)
(110)
386
(361)
(25)
(624)
(522)
(102)
448
(419)
(29)
(624)
(2)
46
44
(2)
(2)
(4)
(4)
(4)
(7)
(4)
(4)
(8)
349
(101)
(1,098)
(631)
(632)

Chg in CPLTD-Bank
Dividends - Common
(14)
(27)
(138)
(179)
(46)
(225)
341
54
855
1,250
1,250
1,265
1,265
23
1,288
1,417
1,417
38
1,455

Add:
Cash
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
(54)
(15)
54
15
144
90
90
75
75
129
129
144
Page 67
Long-Term Projections: Cash Flow Management

Statement Date
6/30/2003 6/30/2004 6/30/2005 6/30/2006 6/30/2007
Months Covered
12
12
12
12
12
Stmt Type
Annual
Annual
Annual
Annual
Annual
CASH FLOW DRIVERS
CASH FLOW DRIVERS
Net Sales Growth
12.46
4.82
26.54
27.82
23.76
20.07
20.71
22.18
55.61
54.10
47.26
100.98
111.39
117.81
27.50
41.83
43.91
OTHER FACTORS
59
119
131
36.95
33.02
37.23
CASH MARGIN MANAGEMENT SUMMARY
GROSS PROFIT:
BEGINNING GROSS PROFIT
2,796
3,296
Gross Profit Management
152
(504)
Gross Profit Growth
348
159
ENDING GROSS PROFIT (PLUS
3,296
2,951
DEPR)
8.64
23.26
23.10
52.32
110.06
37.75
8.64
21.87
24.15
52.32
110.06
37.75
152
35.75
-
177
34.20
-
2,951
(68)
255
3,138
3,138
(204)
271
3,206
(2,454)
(183)
(118)
(2,755)
(2,755)
(124)
(238)
(3,117)
(3,117)
(154)
(269)
(3,540)
CASH OPERATING PROFIT

842
196
TRADING ACCOUNT MANAGEMENT SUMMARY
CASH IMPACT OF MANAGEMENT:
Accounts Receivable
49
233
Inventory
(244)
(166)
Accounts Payable
336
54
Total Management - Trading Acct
141
120
(53)
(6)
Accruals
(26)
32
Total Management - Other Factors
(79)
26
TOTAL CASH IMPACT OF MGMT
62
146
22
(334)
OPERATING EXPENSES:
BEGINNING OPERATING EXPENSE
Operating Expense Management
Operating Expense Growth
ENDING OPER EXP (LESS DEPR)
(2,114)
(77)
(263)
(2,454)
CASH IMPACT OF GROWTH:

Accounts Receivable
Inventory
Accounts Payable
Total Growth - Trading Accounts
Accruals
Total Growth - Other Factors
TOTAL CASH IMPACT OF
SALES GROWTH
TOTAL TRADING ACCOUNT AND
OTHER FACTOR CHG
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
(187)
220
(175)
(142)
(10)
(13)
(22)
(164)
(11)
(15)
(26)
(26)
(200)
(225)
61
(364)
(7)
34
27
(85)
(280)
105
(259)
(6)
27
21
(139)
(286)
107
(318)
(11)
37
26
(167)
(331)
114
(385)
(13)
41
28
(337)
(238)
(293)
(356)
(275)
(92)
(457)
(383)
567
104
(435)
(717)
Page 68
Long-Term Projections: Summary Income Statement Actual and %

Summary Income Statement - Actual and %
Statement Date
6/30/2003
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
Sales/Revenues
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
6/30/2006
12
Projection
6/30/2007
12
Projection
Annual
Annual
10,535
100.0
11,848
100.0
12,419
100.0
13,492
100.0
14,658
100.0
7,739
239
7,978
2,557
73.5
2.3
75.7
24.3
8,552
224
8,776
3,072
72.2
1.9
74.1
25.9
9,468
273
9,741
2,678
76.2
2.2
78.4
21.6
10,354
361
10,714
2,778
76.7
2.7
79.4
20.6
11,452
419
11,871
2,786
78.1
2.9
81.0
19.0
2,114
13
2,127
430
20.1
0.1
20.2
4.1
2,454
17
2,471
601
20.7
0.1
20.9
5.1
2,755
21
2,776
(98)
22.2
0.2
22.4
(0.8)
3,117
25
3,142
(364)
23.1
0.2
23.3
(2.7)
3,540
29
3,569
(783)
24.2
0.2
24.3
(5.3)
(147)
47
(100)
330
(1.4)
0.4
(0.9)
3.1
(153)
32
13
(108)
493
(1.3)
0.3
0.1
(0.9)
4.2
(306)
35
(271)
(369)
(2.5)
0.3
(2.2)
(3.0)
(318)
38
(280)
(644)
(2.4)
0.3
(2.1)
(4.8)
(318)
41
(277)
(1,059)
(2.2)
0.3
(1.9)
(7.2)
Income Taxes
NET PROFIT
77
253
0.7
2.4
144
349
1.2
2.9
(369)
(3.0)
(113)
(531)
(0.8)
(3.9)
(186)
(874)
(1.3)
(6.0)
EBIT
EBITDA
EBIDA
477
729
652
4.5
6.9
6.2
646
887
743
5.5
7.5
6.3
(63)
231
231
(0.5)
1.9
1.9
(326)
60
172
(2.4)
0.4
1.3
(741)
(293)
(107)
(5.1)
(2.0)
(0.7)
GROSS PROFIT
S,G, & A Expense
Depreciation
PROFIT BEFORE TAXES
(46)
23
38
Page 69
Long-Term Projections: Summary FAS 95 Stmt of Cash Flows (Direct)

Summary FAS 95 Stmt of Cash Flows (Direct)
Statement Date
6/30/2003 6/30/2004 6/30/2005 6/30/2006 6/30/2007
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Net Sales
CASH RECEIVED FROM CUSTOMERS
Chg in Inventories
Operating Expenses
Chg in Accruals
CASH PAID TO SUPPLIERS
AND EMPLOYEES
INTEREST PAID
INCOME TAXES PAID
INTEREST & DIVIDENDS RECEIVED
MISC CASH RECEIVED(PAID)
11,848
(151)
11,697
(8,552)
(469)
397
(2,454)
(60)
8
12,419
148
12,567
(9,468)
(446)
159
(2,755)
(12)
59
13,492
(326)
13,166
(10,354)
(66)
(68)
(3,117)
(21)
24
14,658
(167)
14,491
(11,452)
(331)
114
(3,540)
(24)
26
(11,130)
(153)
(174)
32
272
(12,463)
(306)
35
(167)
(13,601)
(318)
113
38
(603)
(15,208)
(318)
186
41
(808)

(145)
44
(101)
(1,094)
(4)
(1,098)
(624)
(7)
(631)
(624)
(8)
(632)

Chg in ST Loans
Cash Dividends Paid
(14)
(27)
(138)
(179)
(46)
(225)
(54)
144
90
341
54
855
1,250
1,250
(15)
90
75
1,265
1,265
23
1,288
54
75
129
1,417
1,417
38
1,455
15
129
144
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
Page 70
Long-Term Projections: Summary Ratios

Summary Ratios
Statement Date
6/30/2003 6/30/2004 6/30/2005 6/30/2006 6/30/2007
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
LIQUIDITY
Working Capital
Quick Ratio
Current Ratio
1,832
0.83
1.87
5.75
2,124
0.75
1.87
5.58
1,806
0.55
1.59
6.88
1,052
0.48
1.25
12.82
33
0.38
1.01
444.61
LEVERAGE
Net Worth-Actual
Debt/Worth
Debt/Tang Worth
1,889
1,889
1,889
1.45
1.45
1.45
1.02
1.28
0.59
2,192
2,192
2,192
1.34
1.34
1.34
0.79
1.17
0.57
1,823
1,823
1,823
2.42
2.42
2.42
1.64
1.15
0.71
1,315
1,315
1,315
4.28
4.28
4.28
3.24
0.97
0.81
479
479
479
15.00
15.00
15.00
11.84
0.87
0.94
3.24
3.56
729
652
4.22
4.73
1.35
1.25
3.31
3.01
887
743
(0.21)
(0.44)
0.29
0.33
0.49
0.55
231
231
(1.02)
(0.72)
(0.61)
(0.61)
0.12
0.12
60
172
(2.33)
(2.29)
(1.09)
(1.09)
(0.60)
(0.60)
(293)
(107)
PROFITABILITY (%)
Return on Assets
Return on Equity
Gross Margin
Net Margin
5.46
13.39
24.27
2.40
6.80
15.92
25.93
2.95
(5.92)
(20.24)
21.56
(2.97)
(7.65)
(40.42)
20.59
(3.94)
(11.40)
(182.34)
19.01
(5.96)
ACTIVITY
Net Sales/Net Worth
55.61
97.95
26.67
2.27
5.58
17.47
7.12
54.10
108.55
40.76
2.31
5.41
22.78
9.60
47.26
114.51
42.68
1.99
6.81
9.41
(5.92)
52.32
106.36
36.48
1.94
10.26
8.66
(9.27)
52.32
106.17
36.42
1.91
30.58
8.45
(13.82)
10.76
7.14
16.04
12.46
39.77
37.94
21.40
49.88
(16.83)
4.82
N/A
N/A
11.43
27.68
(27.87)
8.64
(271.46)
(44.02)
10.38
27.64
(63.55)
8.64
(114.96)
(64.45)
2,776
3,275
2,929
3,115
3,181
COVERAGE
Interest Coverage
EBITDA
EBIDA
2.52
GROWTH (%)
Total Assets Growth
Net Worth Growth
Net Sales Growth
Net Profit Growth
USER-DEFINED CALCULATIONS
Pro Forma EBITDA
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
Page 71
Long-Term Projections: Executive Financial Statement Actual and %

Executive Financial Statement - Actual and %
Statement Date
6/30/2003
Months Covered
12
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
ASSETS
Cash & Near Cash
Inventory
Net Fixed Assets
TOTAL ASSETS
S/T Loans Payable
Accounts Payable
Accrued Liabilities
Taxes Payable
Long Term Debt
TOTAL NON-CURRENT
LIABILITIES
TOTAL LIABILITIES
TOTAL NET WORTH

INCOME STATEMENT
Net Sales/Revenues
GROSS PROFIT
Depr & Amort
PROFIT BEFORE TAXES
Income Taxes
PROFIT BEFORE
EXTRAORDINARY ITEMS
NET PROFIT
6/30/2004
12
Unqualif'd
KPMG
GJH
Annual
6/30/2005
12
Unqualif'd
KPMG
GJH
Annual
6/30/2006
12
Projection
6/30/2007
12
Projection
Annual
Annual
144
1,605
2,141
59
3,949
3.1
34.6
46.2
1.3
85.2
90
1,756
2,610
119
4,575
1.8
34.2
50.8
2.3
89.1
75
1,608
3,056
131
4,870
1.2
25.8
49.0
2.1
78.1
129
1,934
3,122
152
5,337
1.9
27.8
44.9
2.2
76.8
144
2,101
3,453
177
5,875
1.9
27.4
45.0
2.3
76.6
603
18
66
687
4,636
13.0
0.4
1.4
14.8
100.0
520
20
20
560
5,135
10.1
0.4
0.4
10.9
100.0
1,320
22
22
1,364
6,234
21.2
0.4
0.4
21.9
100.0
1,558
26
26
1,609
6,947
22.4
0.4
0.4
23.2
100.0
1,734
30
30
1,793
7,668
22.6
0.4
0.4
23.4
100.0
1,148
142
583
214
30
2,117
24.8
3.1
12.6
4.6
0.6
45.7
1,134
115
980
222
2,451
22.1
2.2
19.1
4.3
47.7
1,475
169
1,139
281
3,064
23.7
2.7
18.3
4.5
49.1
2,740
169
1,071
305
4,285
39.4
2.4
15.4
4.4
61.7
4,157
169
1,184
332
5,842
54.2
2.2
15.4
4.3
76.2
630
630
13.6
13.6
492
492
9.6
9.6
1,347
1,347
21.6
21.6
1,347
1,347
19.4
19.4
1,347
1,347
17.6
17.6
2,747
59.3
2,943
57.3
4,411
70.8
5,632
81.1
7,189
93.7
1,889
4,636
40.7
100.0
2,192
5,135
42.7
100.0
1,823
6,234
29.2
100.0
1,315
6,947
18.9
100.0
479
7,668
6.3
100.0
10,535
7,739
239
2,557
2,114
13
430
(147)
47
330
77
253
100.0
73.5
2.3
24.3
20.1
0.1
4.1
(1.4)
0.4
3.1
0.7
2.4
11,848
8,552
224
3,072
2,454
17
601
(153)
45
493
144
349
100.0
72.2
1.9
25.9
20.7
0.1
5.1
(1.3)
0.4
4.2
1.2
2.9
12,419
9,468
273
2,678
2,755
21
(98)
(306)
35
(369)
(369)
100.0
76.2
2.2
21.6
22.2
0.2
(0.8)
(2.5)
0.3
(3.0)
(3.0)
13,492
10,354
361
2,778
3,117
25
(364)
(318)
38
(644)
(113)
(531)
100.0
76.7
2.7
20.6
23.1
0.2
(2.7)
(2.4)
0.3
(4.8)
(0.8)
(3.9)
14,658
11,452
419
2,786
3,540
29
(783)
(318)
41
(1,059)
(186)
(874)
100.0
78.1
2.9
19.0
24.2
0.2
(5.3)
(2.2)
0.3
(7.2)
(1.3)
(6.0)
253
253
2.4
2.4
349
349
2.9
2.9
(369)
(369)
(3.0)
(3.0)
(531)
(531)
(3.9)
(3.9)
(874)
(874)
(6.0)
(6.0)
Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
(46)
23
38
Page 72
Long-Term Projections: Executive FAS 95 Stmt of Cash Flows (Direct)

Executive FAS 95 Stmt of Cash Flows (Direct)
Statement Date
6/30/2003 6/30/2004 6/30/2005 6/30/2006 6/30/2007
Months Covered
12
12
12
12
12
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Cash Received From Customers
Cash Pd To Suppliers & Employees
Interest Paid
Income Taxes Paid
Interest & Dividends Received
Misc Cash Received (Paid)
11,697
(11,130)
(153)
(174)
32
272
12,567
(12,463)
(306)
35
(167)
13,166
(13,601)
(318)
113
38
(603)
14,491
(15,208)
(318)
186
41
(808)

Chg in Investments
Chg in Intangibles - Net
(145)
44
(101)
(1,094)
(4)
(1,098)
(624)
(7)
(631)
(624)
(8)
(632)

Cash Dividends Paid
(41)
(138)
(179)
(46)
(225)
(54)
395
855
1,250
1,250
(15)
1,265
1,265
23
1,288
54
1,417
1,417
38
1,455
15
144
90
90
75
75
129
129
144

Prepared: 18:12, 9/22/2005

MMAS (3.1.6.0)
Page 73
Long-Term Projections: RiskCalc for Private Firm Version 3.1

Historical EDFs calculated with Credit Cycle Adjustments, Projected EDFs with Financial Statements Only
Statement Date
6/30/2003
6/30/2004
6/30/2005
6/30/2006
6/30/2007
Months Covered
12
12
12
12
12
Audit Mthd
Unqualif'd
Unqualif'd
Unqualif'd
Projection
Projection
Accountant
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Exchange Rate:
Exchange Rate Date:
1
6/30/2003
1
6/30/2004
1
6/30/2005
1
6/30/2006
1
6/30/2007

1 Yr Percentile
1 Yr Custom Rating
Ba1.edf
46.21
N/A
Baa2.edf
17.31
N/A
B2.edf
86.44
N/A
B3.edf
94.79
N/A
Caa-C.edf
97.46
N/A

5 Yr Percentile
5 Yr Custom Rating
Ba2.edf
55.88
N/A
Baa3.edf
28.96
N/A
B1.edf
86.15
N/A
B3.edf
93.56
N/A
Caa-C.edf
96.87
N/A
Cumulative EDFs:
1 Year
2 Year
3 Year
4 Year
5 Year
0.85
1.99
3.25
4.59
5.99
0.30
0.85
1.57
2.42
3.37
4.26
6.84
8.98
10.88
12.60
6.81
10.21
12.88
15.15
17.16
9.85
14.70
18.46
21.63
24.39
Forward EDFs:
1 Year
2 Year
3 Year
4 Year
5 Year
0.85
1.14
1.28
1.39
1.47
0.30
0.56
0.72
0.86
0.98
4.26
2.69
2.30
2.08
1.93
6.81
3.64
2.98
2.61
2.37
9.85
5.38
4.41
3.88
3.53
Annualized EDFs:
1 Year
2 Year
3 Year
4 Year
5 Year
0.85
1.00
1.09
1.17
1.23
0.30
0.43
0.53
0.61
0.68
4.26
3.48
3.09
2.84
2.66
6.81
5.24
4.49
4.03
3.70
9.85
7.64
6.58
5.91
5.44

Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
-32.37
N/A
24.39
N/A
N/A
11.39
-5.40
-5.99
7.58
-8.19
-4.69
-19.95
-8.06
15.59
-9.23
-14.44
7.59
-4.22
-3.60
5.35
-9.05
-2.93
40.60
-6.10
9.21
-0.90
15.55
4.89
11.74
0.22
4.93
4.05
-1.82
42.01
-5.29
8.50
-3.11
-1.99
4.14
13.20
4.14
8.05
7.85
-1.72
37.60
-4.30
6.90
-4.23
0.62
3.36
10.72
7.71
7.82
15.33
-1.43

Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
-15.30
N/A
24.08
N/A
N/A
22.27
-6.80
-6.64
7.22
-7.97
-9.71
-9.34
-10.71
15.25
-7.04
-13.96
14.69
-5.27
-3.95
5.05
-8.73
-6.01
21.48
-9.16
10.19
-0.77
16.98
10.70
16.55
0.28
5.26
4.41
-4.22
22.60
-8.08
9.55
-2.73
-2.21
9.20
18.91
5.22
8.74
8.70
-4.06
20.16
-6.54
7.73
-3.70
0.68
7.45
15.31
9.69
8.45
16.93
-3.35

-75.89
-34.41
-103.13
-47.62
-16.17
Prepared: 18:12, 9/22/2005

Page 74

Statement Date
6/30/2003 6/30/2004 6/30/2005 6/30/2006 6/30/2007
Months Covered
12
12
12
12
12
Audit Mthd
Accountant
KPMG
KPMG
KPMG
Analyst
GJH
GJH
GJH
Stmt Type
Annual
Annual
Annual
Annual
Annual
Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
0.00
-176.21
0.00
0.00
15.94
-268.33
-135.28
55.90
58.45
-14.00
38.15
-371.33
-35.12
-39.86
14.47
-293.75
-144.34
58.99
58.85
-10.73
-19.93
-301.65
-70.59
-24.36
10.86
-205.13
-217.71
47.11
92.32
-7.21
18.42
-310.94
95.45
-118.77
15.66
-109.33
-227.05
39.53
111.06
-6.17
22.33
-376.67
-7.31
-131.17
18.99
-132.52
-244.75
37.01
107.31
-5.79

Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
-32.74
0.00
-160.17
0.00
0.00
28.62
-313.14
-137.60
48.88
52.20
-26.64
-16.95
53.45
-305.39
-28.27
-40.45
31.72
-320.51
-162.05
57.61
58.71
-24.89
-47.79
-26.24
-291.97
-53.33
-23.31
20.81
-253.22
-236.53
44.03
88.13
-14.64
-22.06
24.25
-300.94
72.09
-113.62
30.01
-134.93
-246.65
36.94
105.99
-12.52
-7.18
28.19
-349.60
-5.30
-120.36
34.89
-156.85
-254.97
33.17
98.23
-11.27
Percentiles:
Sales Growth
Cash to Assets
Inventory to Sales
Leverage
Size
57.04
N/A
47.14
N/A
N/A
90.26
N/A
53.80
66.44
58.01
47.59
63.75
66.16
36.33
39.31
66.70
92.03
50.79
53.90
68.01
51.44
49.46
9.11
45.91
30.52
22.37
9.63
94.14
16.89
42.95
76.74
73.10
53.15
7.71
56.85
37.37
76.78
37.80
92.96
11.89
29.65
86.07
79.01
55.54
5.73
56.85
37.52
50.00
27.06
93.31
10.12
18.58
91.63
91.15
57.61
Prepared: 18:12, 9/22/2005

Ratios or Levels:
5.46
6.80
-5.92
-7.65
-11.40
Sales Growth
N/A
12.46
4.82
8.64
8.64
Cash to Assets
3.11
1.75
1.20
1.86
1.88
N/A
-0.41
-1.87
1.39
0.00
N/A
1.34
-12.72
-1.73
-3.75
Inventory to Sales
20.32
22.03
24.61
23.14
23.56
N/A
433.99
30.07
-125.86
-212.91
88.43
88.74
58.94
30.29
7.91
20.09
20.69
24.67
31.76
39.85
Leverage
25.01
18.33
42.49
50.60
73.76
Size
445,691.62 482,635.37 569,864.36 635,025.62 700,953.4
2
When defining percentiles, be aware that observations in the sample population are sorted in order of increasing ratio value. This means that the item's
impact on risk relative to its location within a certain percentile depends upon the relationship between the ratio and risk. An item that is in a high
percentile for profitability has a positive impact by lowering the probability of default, since more profitable companies have lower risk of default.
Conversely, an item in a high percentile in a leverage ratio has a negative impact, since a highly leveraged company has a higher risk of default.
Page 75

SHORT-TERM PROJECTION REPORTS
Short-Term Projection Reports are used to project borrower financial statement data into future periods. With Short-Term
Projections, the analyst can project monthly statements.
In addition to the sample Short-Term Projection Reports shown in this document, the following reports are also available:
1.
Short-Term Projections: Detailed Balance Sheet Actual
2.
Short-Term Projections: Comprehensive Income Statement Actual
3.
Short-Term Projections: Detailed Balance Sheet %
4.
Short-Term Projections: Detailed Income Statement %
5.
Short-Term Projections: Detailed Comprehensive Income Statement %
6.
Short-Term Projections: Detailed Balance Sheet Actual and %
7.
Short-Term Projections: Detailed Income Statement Actual and %
8.
Short-Term Projections: Detailed Comprehensive Income Statement Actual and %
9.
Short-Term Projections: Detailed Balance Sheet Exchange Rate
10.
Short-Term Projections: Detailed Income Statement Exchange Rate
11.
Short-Term Projections: Detailed Balance Sheet Trend
12.
Short-Term Projections: Detailed Income Statement Trend
13.
Short-Term Projections: Detailed UCA Cash Flow
14.
Short-Term Projections: Detailed FAS 95 Stmt of Cash Flows (Indirect)
15.
Short-Term Projections: Cash Flow Management
16.
Short-Term Projections: Summary Income Statement Actual
17.
Short-Term Projections: Summary Balance Sheet %
18.
Short-Term Projections: Summary Income Statement %
19.
Short-Term Projections: Summary Comprehensive Income Statement %
20.
Short-Term Projections: Summary Balance Sheet Actual and %
21.
Short-Term Projections: Summary Income Statement Actual and %
22.
Short-Term Projections: Summary Comprehension Income Statement Actual and %
23.
Short-Term Projections: Summary Reconciliations
24.
Short-Term Projections: FAS Stmt of Cash Flows (Direct)
25.
Short-Term Projections: Summary Ratios
26.
Short-Term Projections: Executive Financial Statement Actual
27.
Short-Term Projections: Executive Financial Statement %
28.
Short-Term Projections: Executive Financial Statement Actual and %
29.
Short-Term Projections: Executive FAS 95 Stmt of Cash Flows (Direct)
30.
Short-Term Projections: Notes to Financial Statements
31.
Short-Term Projections: Asset Based Lending Report
32.
Short-Term Projections: Income Statement Account Assumptions
33.
Short-Term Projections: RiskCalc for Private Firm
Page 76
Short-Term Projections: Detailed Income Statement Actual

Prepared: 18:15, 9/22/2005
Detailed Income Statement - Actual
MMAS (3.1.6.0)
Projection Title: Short Term
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
12
Audit Mthd
Unqualif'd
Total
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
Division
NET SALES/REVENUE
Cost of Goods Sold
GROSS PROFIT
SG & A Expense
Depreciation
Other Income
PROFIT BEFORE TAXES
Current Income Tax
NET PROFIT
9,317
814
814
814
814
814
814
814
814
814
814
814
814
9,768
3,102
12,419
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
3,252
13,020
9,468
273
831
27
834
28
838
29
842
29
845
30
849
31
853
31
856
32
860
33
864
34
867
34
871
35
10,210
373
9,741
2,678
858
227
862
222
867
218
871
214
875
209
880
205
884
201
889
196
893
192
897
188
902
183
906
179
10,584
2,434
2,755
21
2,776
(98)
242
2
244
(17)
243
2
245
(23)
245
2
247
(29)
246
2
248
(34)
247
2
250
(40)
249
2
251
(46)
250
2
252
(52)
251
2
254
(57)
253
3
255
(63)
254
3
256
(69)
255
3
258
(75)
257
3
259
(80)
2,992
28
3,019
(585)
306
306
35
(271)
(369)
16
2
15
32
3
(29)
(46)
16
2
15
32
3
(29)
(52)
16
2
15
32
3
(29)
(58)
16
2
15
32
3
(29)
(64)
16
2
15
32
3
(29)
(69)
16
2
15
32
3
(29)
(75)
16
2
15
32
3
(29)
(81)
16
2
15
32
3
(29)
(87)
16
2
15
32
3
(29)
(92)
16
2
15
32
3
(29)
(98)
16
2
15
32
3
(29)
(104)
16
2
15
32
3
(29)
(110)
192
24
180
384
36
(348)
(936)
(369)
(7)
(40)
(8)
(45)
(8)
(50)
(9)
(54)
(10)
(59)
(11)
(64)
(12)
(69)
(13)
(74)
(13)
(79)
(14)
(84)
(15)
(89)
(16)
(94)
(136)
(801)
(63)
231
231
(14)
15
22
(20)
10
18
(26)
5
14
(31)
10
(37)
(5)
5
(43)
(10)
1
(49)
(15)
(3)
(54)
(20)
(7)
(60)
(25)
(11)
(66)
(30)
(15)
(72)
(35)
(20)
(77)
(40)
(24)
(549)
(150)
(10)
54
EBIT
EBITDA
EBIDA
Dividends - Common
Page 77
Short-Term Projections: Detailed Reconciliations

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
Analyst
GJH
Stmt Type
Annual
BEGINNING RETAINED EARNINGS

Net Profit
Dividends - Common
2,175
(369)
1,806
BEGINNING NET WORTH

Net Profit
Div & Withdrawals-Cash
1,786
(45)
3
1,744
(42)

2,124
(800)
(2)
Other Assets
(2)
Long Term Debt
855
(369)
1,806
1,823
(40)
3
1,786
(37)

1,727
1,681
1,630
(50)
(54)
(59)
3
4
4
1,681
1,630
1,575
1,769
(45)
3
1,727
2,192
(369)
1,823
(369)
1,806
(40)
3
1,769
1,575
(64)
4
1,515
1,515
(69)
5
1,451
1,451
(74)
5
1,382
1,382
(79)
5
1,308
1,308
(84)
6
1,230
1,592
(64)
4
1,532
(60)
Reconciliation of Working Capital

1,603
1,496
1,385

1,744
1,698
1,647
(50)
(54)
(59)
3
4
4
1,698
1,647
1,592
(46)
(51)
(55)
1,532
(69)
5
1,468
(65)
1,468
(74)
5
1,399
(69)
1,399
(79)
5
1,325
(74)
1,325
(84)
6
1,247
(78)
1,230
(89)
6
1,147
1,247
(89)
6
1,164
(83)
1,147
(94)
6
1,059
1,164
(94)
6
1,076
(87)
1,271
1,152
1,030
903
773
639
501
1,806
1,707
(62)
-
(61)
-
(60)
-
(59)
-
(59)
-
(58)
-
(57)
-
(56)
-
(56)
-
(55)
-
(54)
-
(53)
-
(37)
1,707
(42)
1,603
(46)
1,496
(51)
1,385
(55)
1,271
(60)
1,152
(65)
1,030
(69)
903
(74)
773
(78)
639
(83)
501
(87)
360
Page 78
Short-Term Projections: Detailed FAS 95 Stmt of Cash Flows (Direct)

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
12
Analyst
GJH
Stmt Type
Annual
9,317
Division
3,102
144
4
Cash Received From Customers
12,567
Cost of Goods Sold

Chg in Inventory
SG & A Expense
and Employees
Interest Paid
Current Income Tax
Income Taxes Paid
Interest & Dividends Received

Other Income
Misc Cash Received(Paid)
NET CASH PROVIDED

BY OPERATIONS
814
814
814
814
814
814
814
814
814
814
814
814
9,768
271
(204)
5
885
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
271
1,085
3,252
(204)
5
12,820
(9,468)
(446)
159
(2,755)
(12)
59
(831)
(74)
32
(242)
(2)
1
(834)
(14)
5
(243)
(2)
1
(838)
(14)
5
(245)
(2)
1
(842)
(13)
5
(246)
(2)
1
(845)
(14)
5
(247)
(2)
1
(849)
(14)
5
(249)
(2)
1
(853)
(14)
5
(250)
(2)
1
(856)
(14)
5
(251)
(2)
1
(860)
(14)
5
(253)
(2)
1
(864)
(13)
5
(254)
(2)
1
(867)
(14)
5
(255)
(3)
1
(871)
(14)
5
(257)
(3)
1
(10,210)
(226)
87
(2,992)
(26)
12
(12,463)
(1,116)
(1,087)
(1,093)
(1,097)
(1,102)
(1,107)
(1,113)
(1,118)
(1,123)
(1,127)
(1,133)
(1,138)
(13,354)
(306)
(306)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(16)
(2)
(15)
(32)
(192)
(24)
(180)
(384)
7
7
8
8
8
8
9
9
10
10
11
11
12
12
13
13
13
13
14
14
15
15
16
16
136
136
35
35
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
3
36
36
(167)
(253)
(24)
(28)
(32)
(37)
(41)
(45)
(49)
(54)
(57)
(62)
(66)
(748)
(59)
(76)
(76)
(76)
(76)
(76)
(76)
(76)
(76)
(76)
(76)
(76)
(895)
(32)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(197)
29
(27)
30
(28)
31
(29)
32
(29)
32
(30)
33
(31)
34
(31)
35
(32)
35
(33)
36
(34)
37
(34)
38
(35)
402
(373)
(2)
(91)
(2)
(91)
(2)
(91)
(2)
(91)
(2)
(91)
(2)
(91)
(2)
(91)
(2)
(91)
(3)
(91)
(3)
(91)
(3)
(91)
(3)
(91)
(28)
(1,092)

Chg in Property Plant &
(946)
Equipment
Chg in Furniture, Fixtures &
(147)
Vehicles
293
Cost of Goods Sold (273)
Depreciation
Depreciation
(21)
(1,094)
Page 79

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
12
Analyst
GJH
Stmt Type
Annual
Chg in Cash Value Life
Insurance
Chg in Other Assets
Chg in Investments
NET CASH USED IN

INVESTING
(2)
(2)
(4)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(12)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(1,104)
360
360
3
362
113
113
3
116
117
117
3
121
121
121
4
124
125
125
4
129
129
129
4
133
133
133
5
137
137
137
5
142
141
141
5
146
144
144
6
150
148
148
6
154
152
152
6
158
1,820
1,820
54
1,872
(15)
18
18
90
75
75
93
93
93
93
94
94
94
94
94
94
95
95
95
95
96
96
96
96
97
97
97
97
97

Add:
Cash
CASH AND EQUIVALENTS AT
EOP
(1,098)

341
Chg in CPLTD-Bank
54
855
1,250
Dividends - Common
NET CASH PROV BY
1,250
FINANCING
Page 80
Short-Term Projections: Detailed Ratios

Prepared: 18:15, 9/22/2005
Detailed Ratios
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
Analyst
GJH
Stmt Type
Annual
ACTIVITY
Net Sales/Net Worth
49.90
47.26
114.51
117.81
42.68
43.91
1.99
6.81
9.41
(5.92)
53.33
50.68
110.96
114.60
41.51
42.87
1.98
7.29
9.42
(8.45)
53.33
50.68
110.88
114.60
41.48
42.87
1.95
7.46
9.02
(9.38)
53.33
50.68
110.81
114.60
41.45
42.87
1.93
7.67
8.66
(10.31)
53.33
50.68
110.74
114.60
41.42
42.87
1.91
7.90
8.33
(11.19)
53.33
50.68
110.66
114.60
41.40
42.87
1.89
8.18
8.03
(12.06)
53.33
50.68
110.59
114.60
41.37
42.87
1.87
8.50
7.76
(12.92)
53.33
50.68
110.52
114.60
41.35
42.87
1.85
8.87
7.50
(13.78)
53.33
50.68
110.45
114.60
41.32
42.87
1.83
9.31
7.26
(14.60)
53.33
50.68
110.39
114.60
41.29
42.87
1.81
9.83
7.05
(15.41)
53.33
50.68
110.32
114.60
41.27
42.87
1.79
10.44
6.84
(16.19)
53.33
50.68
110.25
114.60
41.24
42.87
1.77
11.19
6.65
(16.99)
53.33
50.68
110.18
114.60
41.22
42.87
1.76
12.09
6.48
(17.75)
GROWTH (%)
Total Assets Growth
Net Worth Growth
Net Sales Growth
Net Profit Growth
Sustainable Growth
21.40
49.88
(16.83)
4.82
N/A
N/A
(16.83)
5.70
8.90
(2.03)
4.82
(110.83)
(28.83)
(19.91)
1.19
2.49
(2.33)
(33.33)
(12.37)
(22.24)
1.16
2.51
(2.65)
(25.47)
(11.22)
(24.63)
1.13
2.52
(2.99)
(19.55)
(9.71)
(26.99)
1.11
2.54
(3.36)
(16.67)
(9.02)
(29.42)
1.09
2.55
(3.76)
(14.29)
(8.28)
(31.93)
1.07
2.56
(4.21)
(12.74)
(7.79)
(34.55)
1.05
2.56
(4.71)
(11.09)
(7.09)
(37.23)
1.03
2.57
(5.27)
(9.98)
(6.62)
(40.04)
1.00
2.56
(5.90)
(8.90)
(6.09)
(42.95)
0.99
2.57
(6.65)
(8.49)
(5.96)
(46.08)
0.97
2.57
(7.51)
(7.68)
(5.52)
(49.37)
2,929
232
228
224
220
217
213
209
205
201
198
194
190
USER-DEFINED CALCULATIONS
Pro Forma EBITDA
Page 81
Short-Term Projections: Summary Balance Sheet Actual

Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005
Months Covered
12
1
1
1
Audit Mthd
Unqualif'd
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
ASSETS
Cash & Equivalents
Trade Inventory
Net Fixed Assets
Investments
TOTAL ASSETS
Overdrafts (Financing)
S/T Loans Payable
CPLTD-Bank
Other Accruals
Long Term Debt
TOTAL NON-CURRENT
LIABILITIES
TOTAL LIABILITIES
Stock
Retained Earnings
TOTAL NET WORTH
TOTAL LIABILITIES & NET
WORTH
93
1,807
3,130
133
5,163
93
1,807
3,144
135
5,180
94
1,807
3,158
138
5,196
94
1,807
3,171
140
5,212
94
1,807
3,185
142
5,229
95
1,807
3,199
144
5,246
95
1,807
3,213
147
5,262
96
1,807
3,227
149
5,279
96
1,807
3,241
152
5,296
97
1,807
3,254
154
5,312
97
1,807
3,268
156
5,329
97
1,807
3,282
159
5,346
1,320
22
22
1,364
6,234
1,382
22
22
1,426
6,590
1,443
23
23
1,488
6,668
1,503
23
23
1,549
6,745
1,562
23
23
1,609
6,821
1,621
24
24
1,668
6,897
1,679
24
24
1,727
6,973
1,736
25
25
1,785
7,047
1,792
25
25
1,842
7,121
1,848
25
25
1,899
7,194
1,903
26
26
1,954
7,267
1,957
26
26
2,009
7,338
2,010
27
27
2,064
7,410
1,475
169
1,139
281
3,064
360
1,475
169
1,171
282
3,457
473
1,475
169
1,176
283
3,576
590
1,475
169
1,181
284
3,700
711
1,475
169
1,186
285
3,827
836
1,475
169
1,192
287
3,958
965
1,475
169
1,197
288
4,094
1,098
1,475
169
1,202
289
4,233
1,235
1,475
169
1,207
290
4,376
1,375
1,475
169
1,212
291
4,523
1,519
1,475
169
1,217
292
4,673
1,668
1,475
169
1,223
293
4,828
1,820
1,475
169
1,228
295
4,986
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
1,347
4,411
4,804
4,923
5,047
5,174
5,305
5,441
5,580
5,723
5,870
6,020
6,175
6,333
17
1,806
1,823
6,234
17
1,769
1,786
6,590
17
1,727
1,744
6,668
17
1,681
1,698
6,745
17
1,630
1,647
6,821
17
1,575
1,592
6,897
17
1,515
1,532
6,973
17
1,451
1,468
7,047
17
1,382
1,399
7,121
17
1,308
1,325
7,194
17
1,230
1,247
7,267
17
1,147
1,164
7,338
17
1,059
1,076
7,410
75
1,608
3,056
131
4,870
10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006

1
1
1
1
1
1
1
1
1
Prepared: 18:15, 9/22/2005

MMAS (3.1.6.0)
Page 82
Short-Term Projections: Summary Comprehensive Income Statement Actual

Prepared: 18:15, 9/22/2005
Summary Comprehensive Income Statement - Actual
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
12
Audit Mthd
Unqualif'd
Total
Accountant
KPMG
Analyst
GJH
Stmt Type
Annual
Sales/Revenues
GROSS PROFIT
S,G, & A Expense
Depreciation
PROFIT BEFORE TAXES
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
13,020
9,468
273
9,741
2,678
831
27
858
227
834
28
862
222
838
29
867
218
842
29
871
214
845
30
875
209
849
31
880
205
853
31
884
201
856
32
889
196
860
33
893
192
864
34
897
188
867
34
902
183
871
35
906
179
10,210
373
10,584
2,434
2,755
21
2,776
(98)
242
2
244
(17)
243
2
245
(23)
245
2
247
(29)
246
2
248
(34)
247
2
250
(40)
249
2
251
(46)
250
2
252
(52)
251
2
254
(57)
253
3
255
(63)
254
3
256
(69)
255
3
258
(75)
257
3
259
(80)
2,992
28
3,019
(585)
(306)
35
(271)
(369)
(32)
3
(29)
(46)
(32)
3
(29)
(52)
(32)
3
(29)
(58)
(32)
3
(29)
(64)
(32)
3
(29)
(69)
(32)
3
(29)
(75)
(32)
3
(29)
(81)
(32)
3
(29)
(87)
(32)
3
(29)
(92)
(32)
3
(29)
(98)
(32)
3
(29)
(104)
(32)
3
(29)
(110)
(384)
36
(348)
(936)
(369)
(7)
(40)
(8)
(45)
(8)
(50)
(9)
(54)
(10)
(59)
(11)
(64)
(12)
(69)
(13)
(74)
(13)
(79)
(14)
(84)
(15)
(89)
(16)
(94)
(136)
(801)
(63)
231
231
(14)
15
22
(20)
10
18
(26)
5
14
(31)
10
(37)
(5)
5
(43)
(10)
1
(49)
(15)
(3)
(54)
(20)
(7)
(60)
(25)
(11)
(66)
(30)
(15)
(72)
(35)
(20)
(77)
(40)
(24)
(549)
(150)
(10)
(369)
(40)
(45)
(50)
(54)
(59)
(64)
(69)
(74)
(79)
(84)
(89)
(94)
(801)
EBIT
EBITDA
EBIDA
Income Taxes
NET PROFIT
Other Comprehensive Income

12,419
54
Page 83
Short-Term Projections: Summary UCA Cash Flow

Statement Date
6/30/2005 7/31/2005
Months Covered
12
1
Analyst
GJH
Stmt Type
Annual
Net Sales
Chg in Accts/Notes RecTrade(Net)
Chg in Inventories
CASH FROM TRADING
ACTIVITIES
S,G&A Expense(Less Non-Cash
Exp)
Other Income (Expense)
Other Income (Expense) & Taxes
Paid
Interest Expense
NET CASH INCOME
CASH AFTER DEBT
AMORTIZATION
Chg in Investments
Cash Paid for Plant and
Investments
FINANCING SURPLUS
(REQMNTS)
Chg in ST Loans/Other Payables
Chg in LT & Sub Debt
Add:Beginning Cash &
Equivalents
12,419
148
1,085
(199)
Prepared: 18:15, 9/22/2005

MMAS (3.1.6.0)
8/31/2005
1
1,085
-
9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006

1
1
1
1
1
1,085
-
1,085
-
1,085
-
1,085
-
1,085
-
2/28/2006
1
1,085
-
3/31/2006 4/30/2006
1
1
1,085
-
1,085
-
5/31/2006 6/30/2006 6/30/2006

1
1
12
1,085
-
1,085
-
13,020
(199)
12,567
(9,468)
(446)
159
(9,755)
2,812
885
(831)
(74)
32
(873)
12
1,085
(834)
(14)
5
(843)
242
1,085
(838)
(14)
5
(847)
238
1,085
(842)
(13)
5
(850)
235
1,085
(845)
(14)
5
(854)
231
1,085
(849)
(14)
5
(858)
227
1,085
(853)
(14)
5
(861)
223
1,085
(856)
(14)
5
(865)
220
1,085
(860)
(14)
5
(869)
216
1,085
(864)
(13)
5
(872)
213
1,085
(867)
(14)
5
(876)
209
1,085
(871)
(14)
5
(880)
205
12,820
(10,210)
(226)
87
(10,348)
2,471
(2,755)
(242)
(243)
(245)
(246)
(247)
(249)
(250)
(251)
(253)
(254)
(255)
(257)
(2,992)
(12)
59
(2,708)
104
35
35
(2)
1
(243)
(230)
3
7
10
(2)
1
(244)
(3)
3
8
11
(2)
1
(246)
(8)
3
8
12
(2)
1
(247)
(12)
3
9
12
(2)
1
(248)
(18)
3
10
13
(2)
1
(250)
(23)
3
11
14
(2)
1
(251)
(28)
3
12
15
(2)
1
(252)
(33)
3
13
16
(2)
1
(254)
(38)
3
13
17
(2)
1
(255)
(43)
3
14
17
(3)
1
(257)
(48)
3
15
18
(3)
1
(258)
(53)
3
16
19
(26)
12
(3,005)
(537)
36
136
174
139
(221)
(4)
(9)
(13)
(17)
(21)
(25)
(30)
(34)
(362)
(306)
(306)
(167)
(115)
(282)
(32)
3
(30)
(250)
(14)
(264)
(32)
3
(29)
(21)
(14)
(35)
(32)
3
(29)
(25)
(14)
(39)
(32)
4
(29)
(29)
(14)
(43)
(32)
4
(28)
(33)
(14)
(47)
(32)
4
(28)
(37)
(14)
(51)
(32)
5
(28)
(41)
(14)
(55)
(32)
5
(27)
(44)
(14)
(59)
(32)
5
(27)
(48)
(14)
(62)
(32)
6
(27)
(52)
(14)
(66)
(32)
6
(26)
(56)
(14)
(70)
(32)
6
(26)
(60)
(14)
(74)
(384)
54
(334)
(696)
(168)
(865)
(1,094)
(4)
(1,098)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(1,092)
(12)
(1,104)
(1,380)
(356)
(127)
(131)
(135)
(139)
(143)
(146)
(150)
(154)
(158)
(162)
(166)
(1,967)
341
1,024
1,365
(15)
90
360
14
374
18
75
113
14
127
93
117
14
131
93
121
14
135
94
125
14
139
94
129
14
143
94
133
14
147
95
137
14
151
95
141
14
155
96
144
14
158
96
148
14
162
97
152
14
166
97
1,820
168
1,988
18
75
93
93
94
94
94
95
95
96
96
97
97
97
Page 84
Short-Term Projections: FAS 95 Stmt of Cash Flows (Indirect)

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
Analyst
GJH
Stmt Type
Annual
Net Income
(369)
(40)
(45)
(50)
(54)
(59)
(64)
(69)
(74)
(79)
(84)
(89)
(94)
294
148
(446)
(12)
159
59
202
(167)
29
(199)
(74)
(2)
32
1
(213)
(253)
30
(14)
(2)
5
1
20
(24)
31
(14)
(2)
5
1
21
(28)
32
(13)
(2)
5
1
22
(32)
32
(14)
(2)
5
1
23
(37)
33
(14)
(2)
5
1
23
(41)
34
(14)
(2)
5
1
24
(45)
35
(14)
(2)
5
1
25
(49)
35
(14)
(2)
5
1
25
(54)
36
(13)
(2)
5
1
26
(57)
37
(14)
(3)
5
1
27
(62)
38
(14)
(3)
5
1
28
(66)

(1,094)
(4)
(1,098)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)
(91)
(1)
(92)

Chg in ST Loans
341
54
855
1,250
Cash Dividends Paid
1,250
(15)
360
360
3
362
18
113
113
3
116
-
117
117
3
121
-
121
121
4
124
-
125
125
4
129
-
129
129
4
133
-
133
133
5
137
-
137
137
5
142
-
141
141
5
146
-
144
144
6
150
-
148
148
6
154
-
152
152
6
158
-
Reconciling Items
Deprec & Amort
Chg in Inventories
Chg in Accruals
Total Adjustments

75
93
93
93
93
94
94
94
94
94
94
95
95
95
95
96
96
96
96
97
97
97
97
97
90
75
Page 85
Short-Term Projections: Summary Cash Flow Management

Statement Date
Months Covered
Analyst
Stmt Type
UCA CASH AFTER OPERATIONS
Net Sales
Prepared: 18:15, 9/22/2005

MMAS (3.1.6.0)
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006
12
1
1
1
1
1
1
1
1
1
1
1
1
GJH
Annual
12,419
148
12,567
1,085
(199)
885
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
1,085
(9,468)
(446)
159
(9,755)
2,812
(831)
(74)
32
(873)
12
(834)
(14)
5
(843)
242
(838)
(14)
5
(847)
238
(842)
(13)
5
(850)
235
(845)
(14)
5
(854)
231
(849)
(14)
5
(858)
227
(853)
(14)
5
(861)
223
(856)
(14)
5
(865)
220
(860)
(14)
5
(869)
216
(864)
(13)
5
(872)
213
(867)
(14)
5
(876)
209
(871)
(14)
5
(880)
205
(2,755)
(12)
59
(2,708)
104
(242)
(2)
1
(243)
(230)
(243)
(2)
1
(244)
(3)
(245)
(2)
1
(246)
(8)
(246)
(2)
1
(247)
(12)
(247)
(2)
1
(248)
(18)
(249)
(2)
1
(250)
(23)
(250)
(2)
1
(251)
(28)
(251)
(2)
1
(252)
(33)
(253)
(2)
1
(254)
(38)
(254)
(2)
1
(255)
(43)
(255)
(3)
1
(257)
(48)
(257)
(3)
1
(258)
(53)

Total Cash Impact of Growth
4.82
(238)
4.82
(170)
(7)
(7)
(7)
(7)
(7)
(7)
(7)
(7)
(7)
(7)
(7)

Cash Impact of Gross Margin Mgmt
23.76
(504)
23.42
(4)
23.08
(4)
22.74
(4)
22.41
(4)
22.07
(4)
21.73
(4)
21.39
(4)
21.05
(4)
20.71
(4)
20.38
(4)
20.04
(4)
19.70
(4)

Cash Impact of Oper Exp Mgmt
22.18
(183)
22.30
(1)
22.42
(1)
22.55
(1)
22.67
(1)
22.79
(1)
22.91
(1)
23.04
(1)
23.16
(1)
23.28
(1)
23.40
(1)
23.53
(1)
23.65
(1)

Cash Impact of Accts Rec Days Mgmt
47.26
233
50.68
(122)
50.68
-
50.68
-
50.68
-
50.68
-
50.68
-
50.68
-
50.68
-
50.68
-
50.68
-
50.68
-
50.68
-

Cash Impact of Inv Days Mgmt
117.81
(166)
114.60
88
114.60
-
114.60
-
114.60
-
114.60
-
114.60
-
114.60
-
114.60
-
114.60
-
114.60
-
114.60
-
114.60
-

Cash Impact of A/P Days Mgmt
43.91
54
42.87
(28)
42.87
-
42.87
-
42.87
-
42.87
-
42.87
-
42.87
-
42.87
-
42.87
-
42.87
-
42.87
-
42.87
-
131
(6)
133
4
135
(2)
138
(2)
140
(2)
142
(2)
144
(2)
147
(2)
149
(2)
152
(2)
154
(2)
156
(3)
159
(3)
37.23
32
35.47
(14)
35.42
-
35.35
(1)
35.30
-
35.26
-
35.21
-
35.15
(1)
35.10
-
35.06
-
35.02
-
34.96
-
34.92
-
Chg in Inventories
CASH IMPACT ANALYSIS

Cash Impact of Other Op Assets Mgmt
Cash Impact of Accruals Mgmt
Cash Impact of Other Current Liabilities Mgmt
Page 86
Short-Term Projections: Executive Reconciliations & Ratios

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
12
Analyst
GJH
Stmt Type
Annual
BEGINNING WORKING
CAPITAL
Chg in Total Fixed Assets-Net
Chg in Long Term Rec & Invest
Chg in Other LT Assets
Chg in Net Worth
1,603
(800)
(2)
(2)
855
(369)
1,806
(62)
(37)
1,707
(61)
(42)
1,603
(60)
(46)
1,496

1,496
1,385
1,271
1,707
(59)
(51)
1,385
(59)
(55)
1,271
12,567
(9,755)
2,812
885
(873)
12
1,085
(843)
242
1,085
(847)
238
(2,708)
104
35
139
(243)
(230)
3
7
(221)
(244)
(3)
3
8
8
(246)
(8)
3
8
4
(247)
(12)
3
9
-
(306)
(167)
(115)
(32)
3
(250)
(14)
(32)
3
(21)
(14)
(32)
3
(25)
(14)
(282)
(264)
(35)
(1,094)
(4)
(91)
(1)
(58)
(60)
1,152
UCA Cash Flow

1,085
1,085
(850)
(854)
235
231

CASH FROM TRADING
ACTIVITIES
Other Cash Expenses
NET CASH AFTER
OPERATIONS
Interest - Paid in Cash
NET CASH INCOME
Current Portion Long Term
Debt
CASH AFTER DEBT
AMORTIZATION
Chg in Investments &
Intangibles
Extraordinary and Non-Cash
Items
FINANCING SURPLUS
(REQMNTS)
Add:Beginning Cash &
Equivalents
ENDING CASH &
EQUIVALENTS
1,806
2,124
1,030
903
773
639
501
(57)
(65)
1,030
(56)
(69)
903
(56)
(74)
773
(55)
(78)
639
(54)
(83)
501
(53)
(87)
360
1,152
1,085
(858)
227
1,085
(861)
223
1,085
(865)
220
1,085
(869)
216
1,085
(872)
213
1,085
(876)
209
1,085
(880)
205
12,820
(10,348)
2,471
(248)
(18)
3
10
(4)
(250)
(23)
3
11
(9)
(251)
(28)
3
12
(13)
(252)
(33)
3
13
(17)
(254)
(38)
3
13
(21)
(255)
(43)
3
14
(25)
(257)
(48)
3
15
(30)
(258)
(53)
3
16
(34)
(3,005)
(537)
36
136
(362)
(32)
4
(29)
(14)
(32)
4
(33)
(14)
(32)
4
(37)
(14)
(32)
5
(41)
(14)
(32)
5
(44)
(14)
(32)
5
(48)
(14)
(32)
6
(52)
(14)
(32)
6
(56)
(14)
(32)
6
(60)
(14)
(384)
54
(696)
(168)
(39)
(43)
(47)
(51)
(55)
(59)
(62)
(66)
(70)
(74)
(865)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(1,092)
(12)
(1,380)
(356)
(127)
(131)
(135)
(139)
(143)
(146)
(150)
(154)
(158)
(162)
(166)
(1,967)
1,365
(15)
90
374
18
75
127
93
131
93
135
94
139
94
143
94
147
95
151
95
155
96
158
96
162
97
166
97
1,988
18
75
93
93
94
94
94
95
95
96
96
97
97
97
Page 87

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
12
Analyst
GJH
Stmt Type
Annual
1,806
0.55
1.59
2.42
2.42
(0.44)
1,707
0.55
1.49
2.69
2.69
(0.54)
1,603
0.53
1.45
2.82
2.82
(0.81)
1,496
0.51
1.40
2.97
2.97
(1.09)
1,385
0.50
1.36
3.14
3.14
(1.36)
Ratios
1,271
0.48
1.32
3.33
3.33
(1.63)
(5.92)
(20.24)
47.26
114.51
42.68
21.40
49.88
(16.83)
4.82
N/A
(7.21)
(26.62)
50.68
110.96
41.51
5.70
8.90
(2.03)
4.82
(28.83)
(8.01)
(30.62)
50.68
110.88
41.48
1.19
2.49
(2.33)
(12.37)
(8.81)
(34.99)
50.68
110.81
41.45
1.16
2.51
(2.65)
(11.22)
(9.56)
(39.57)
50.68
110.74
41.42
1.13
2.52
(2.99)
(9.71)
Working Capital
Quick Ratio
Current Ratio
Debt/Worth
Debt/Tang Worth
Net Income+Depr+AmortDivs/CPLTD
Return on Assets (%)
Return on Equity (%)
Total Assets Growth (%)
Total Liabilities Growth (%)
Net Worth Growth (%)
Net Profit Growth (%)
1,152
0.46
1.28
3.55
3.55
(1.90)
1,030
0.45
1.24
3.80
3.80
(2.18)
903
0.43
1.21
4.09
4.09
(2.45)
773
0.42
1.17
4.43
4.43
(2.72)
639
0.41
1.14
4.83
4.83
(2.99)
501
0.39
1.10
5.31
5.31
(3.27)
360
0.38
1.07
5.88
5.88
(3.54)
(10.30)
(44.63)
50.68
110.66
41.40
1.11
2.54
(3.36)
(9.02)
(11.03)
(50.22)
50.68
110.59
41.37
1.09
2.55
(3.76)
(8.28)
(11.77)
(56.51)
50.68
110.52
41.35
1.07
2.56
(4.21)
(7.79)
(12.47)
(63.51)
50.68
110.45
41.32
1.05
2.56
(4.71)
(7.09)
(13.16)
(71.48)
50.68
110.39
41.29
1.03
2.57
(5.27)
(6.62)
(13.83)
(80.59)
50.68
110.32
41.27
1.00
2.56
(5.90)
(6.09)
(14.51)
(91.48)
50.68
110.25
41.24
0.99
2.57
(6.65)
(5.96)
(15.16)
(104.38)
50.68
110.18
41.22
0.97
2.57
(7.51)
(5.52)
Page 88
Short-Term Projections: Executive FAS 95 Stmt of Cash Flows (Indirect)

Statement Date
6/30/2005 7/31/2005
Months Covered
12
1
Analyst
GJH
Stmt Type
Annual
Net Income
(369)
Prepared: 18:15, 9/22/2005

MMAS (3.1.6.0)
8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006
1
1
1
1
1
1
2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006 6/30/2006

1
1
1
1
1
12
(40)
(45)
(50)
(54)
(59)
(64)
(69)
(74)
(79)
(84)
(89)
(94)
(801)
294
148
(446)
(12)
159
59
202
(167)
29
(199)
(74)
(2)
32
1
(213)
(253)
30
(14)
(2)
5
1
20
(24)
31
(14)
(2)
5
1
21
(28)
32
(13)
(2)
5
1
22
(32)
32
(14)
(2)
5
1
23
(37)
33
(14)
(2)
5
1
23
(41)
34
(14)
(2)
5
1
24
(45)
35
(14)
(2)
5
1
25
(49)
35
(14)
(2)
5
1
25
(54)
36
(13)
(2)
5
1
26
(57)
37
(14)
(3)
5
1
27
(62)
38
(14)
(3)
5
1
28
(66)
402
(199)
(226)
(26)
87
12
51
(748)

(1,094)
Chg in Investments
(4)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(91)
(1)
(1,092)
(12)
Reconciling Items
Non-Cash Items
Chg in Deferred Revenue
Chg in Inventories
Chg in Accounts Rec-Related Co
Chg in Overdrafts
Chg in Accruals
Chg in Taxes
Chg in Oper Assets and Liabilities
Total Adjustments
NET CASH PROV BY
OPERATIONS
(1,098)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(92)
(1,104)

395
855
1,250
Cash Dividends Paid
1,250
CHANGE IN CASH &
(15)
EQUIVALENTS
360
360
3
362
18
113
113
3
116
-
117
117
3
121
-
121
121
4
124
-
125
125
4
129
-
129
129
4
133
-
133
133
5
137
-
137
137
5
142
-
141
141
5
146
-
144
144
6
150
-
148
148
6
154
-
152
152
6
158
-
1,820
1,820
54
1,872
18
97
ADD:CASH AND EQUIVALENTS AT

BOP
90
75
93
93
94
94
94
95
95
96
96
97
75
93
93
94
94
94
95
95
96
96
97
97
97
Page 89
Short-Term Projections: Credit Compliance Report

Prepared: 18:15, 9/22/2005
Credit Compliance Report
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
Stmt Type
Annual
USER-DEFINED COMPLIANCE
Pro Forma EBITDA:
Actual
2,929
Standard (Min)
Variance
2,929
Result
232
228
224
400
400
232
(172)
(176)
DEFAULT DEFAULT
220
217
213
209
205
201
198
194
190
220
217
213
209
205
201
198
194
190
Page 90
Short-Term Projections: Balance Sheet Account Assumptions

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
Stmt Type
Annual
CURRENT ASSETS
Cash
% of Net Sales
75
(15)
(16.67)
0.60
93
18
23.57
0.71
93
0.47
0.72
94
0.47
0.72
94
0.45
0.72
94
0.46
0.73
95
0.46
0.73
95
0.46
0.73
96
0.45
0.74
96
0.45
0.74
97
0.44
0.74
97
0.46
0.75
97
0.44
0.75
1,698
(144)
(7.82)
13.67
49.90
1,902
204
12.02
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33
1,902
14.61
53.33

% of Net Sales
90
4
4.65
0.72
95
5
5.07
0.73
95
0.73
95
0.73
95
0.73
95
0.73
95
0.73
95
0.73
95
0.73
95
0.73
95
0.73
95
0.73
95
0.73
Inventory
% of Net Sales
Days On Hand
3,056
446
17.09
24.61
114.51
3,130
74
2.42
24.04
110.96
3,144
14
0.44
24.15
110.88
3,158
14
0.44
24.26
110.81
3,171
13
0.43
24.36
110.74
3,185
14
0.44
24.47
110.66
3,199
14
0.44
24.57
110.59
3,213
14
0.43
24.68
110.52
3,227
14
0.43
24.79
110.45
3,241
14
0.43
24.89
110.39
3,254
13
0.42
25.00
110.32
3,268
14
0.43
25.11
110.25
3,282
14
0.43
25.21
110.18
Prepaid Expenses
% of Net Sales
131
12
10.08
1.05
133
2
1.63
1.02
135
2
1.63
1.04
138
2
1.63
1.06
140
2
1.63
1.07
142
2
1.63
1.09
144
2
1.63
1.11
147
2
1.63
1.13
149
2
1.63
1.15
152
2
1.63
1.16
154
2
1.63
1.18
156
3
1.63
1.20
159
3
1.63
1.22
% of Net Sales
Days On Hand (Gross Receivables)
NON-CURRENT ASSETS
% of Net Sales
2,957
946
47.04
23.81
3,016
59
1.98
23.17
3,092
76
2.52
23.75
3,167
76
2.45
24.33
3,243
76
2.40
24.92
3,319
76
2.34
25.50
3,395
76
2.29
26.08
3,471
76
2.24
26.66
3,547
76
2.19
27.25
3,623
76
2.14
27.83
3,699
76
2.09
28.41
3,775
76
2.05
29.00
3,850
76
2.01
29.58

% of Net Sales
568
147
34.92
4.57
600
32
5.69
4.61
615
15
2.52
4.73
631
15
2.45
4.84
646
15
2.40
4.96
661
15
2.34
5.08
676
15
2.29
5.19
691
15
2.24
5.31
706
15
2.19
5.42
721
15
2.14
5.54
736
15
2.09
5.66
751
15
2.05
5.77
767
15
2.01
5.89
Gross Fixed Assets (excl Land)

3,525
1,093
44.94
3,616
91
2.58
3,707
91
2.52
3,798
91
2.45
3,889
91
2.40
3,980
91
2.34
4,071
91
2.29
4,162
91
2.24
4,253
91
2.19
4,344
91
2.14
4,435
91
2.09
4,526
91
2.05
4,617
91
2.01
Page 91

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
Stmt Type
Annual
Beg Accumulated Depreciation
Plus: Depreciation Expense
Purchase/Sale of Assets
Ending Accumulated Depreciation
1,912
294
(1)
2,205
2,205
29
2,234
2,234
30
2,264
2,264
31
2,295
2,295
32
2,327
2,327
32
2,359
2,359
33
2,392
2,392
34
2,426
2,426
35
2,461
2,461
35
2,496
2,496
36
2,532
2,532
37
2,569
2,569
38
2,607
293
15.32
17.76
62.55
29
1.33
17.16
61.79
30
1.35
17.40
61.09
31
1.36
17.63
60.44
32
1.38
17.88
59.83
32
1.39
18.12
59.28
33
1.40
18.38
58.77
34
1.42
18.64
58.30
35
1.43
18.90
57.86
35
1.44
19.18
57.46
36
1.45
19.45
57.10
37
1.46
19.74
56.77
38
1.46
20.03
56.46

% of Net Sales
22
2
10.00
0.18
22
1.63
0.17
23
1.63
0.17
23
1.63
0.18
23
1.63
0.18
24
1.63
0.18
24
1.63
0.19
25
1.63
0.19
25
1.63
0.19
25
1.63
0.20
26
1.63
0.20
26
1.63
0.20
27
1.63
0.21
Other Assets
% of Net Sales
22
2
10.00
0.18
22
1.63
0.17
23
1.63
0.17
23
1.63
0.18
23
1.63
0.18
24
1.63
0.18
24
1.63
0.19
25
1.63
0.19
25
1.63
0.19
25
1.63
0.20
26
1.63
0.20
26
1.63
0.20
27
1.63
0.21

% of Net Sales
% of Gross Fixed Assets (excl Land)
CURRENT LIABILITIES
Note Payable - Bank
% of Net Sales
1,475
341
30.07
11.88
1,475
11.33
1,475
11.33
1,475
11.33
1,475
11.33
1,475
11.33
1,475
11.33
1,475
11.33
1,475
11.33
1,475
11.33
1,475
11.33
1,475
11.33
1,475
11.33
CPLTD-Bank
% of Net Sales
% of Long Term Debt Accounts
169
54
46.96
1.36
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
169
1.30
12.55
% of Net Sales
Days On Hand
1,139
159
16.22
9.17
42.68
1,171
32
2.80
8.99
41.51
1,176
5
0.44
9.03
41.48
1,181
5
0.44
9.07
41.45
1,186
5
0.43
9.11
41.42
1,192
5
0.44
9.15
41.40
1,197
5
0.44
9.19
41.37
1,202
5
0.43
9.23
41.35
1,207
5
0.43
9.27
41.32
1,212
5
0.43
9.31
41.29
1,217
5
0.42
9.35
41.27
1,223
5
0.43
9.39
41.24
1,228
5
0.43
9.43
41.22
Accrued Expenses
% of Net Sales
281
59
26.58
2.26
282
1
0.39
2.17
283
1
0.39
2.18
284
1
0.39
2.18
285
1
0.39
2.19
287
1
0.39
2.20
288
1
0.39
2.21
289
1
0.39
2.22
290
1
0.39
2.23
291
1
0.39
2.24
292
1
0.39
2.24
293
1
0.39
2.25
295
1
0.39
2.26
Page 92

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
Stmt Type
Annual
Long Term Debt
% of Net Sales
EQUITY
Common Stock
% of Net Sales
1,347
855
173.78
10.85
1,347
10.35
1,347
10.35
1,347
10.35
1,347
10.35
1,347
10.35
1,347
10.35
1,347
10.35
1,347
10.35
1,347
10.35
1,347
10.35
1,347
10.35
1,347
10.35
17
0.14
17
0.13
17
0.13
17
0.13
17
0.13
17
0.13
17
0.13
17
0.13
17
0.13
17
0.13
17
0.13
17
0.13
17
0.13
Page 93
Short-Term Projections: Quick Projection Variables

Prepared: 18:15, 9/22/2005
MMAS (3.1.6.0)
Statement Date
6/30/2005 7/31/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/31/2005 1/31/2006 2/28/2006 3/31/2006 4/30/2006 5/31/2006 6/30/2006
Months Covered
12
1
1
1
1
1
1
1
1
1
1
1
1
Stmt Type
Annual
Annual Sales Growth (%)
4.82
4.82
Gross Margin (plus Depr) (%)
23.76
23.42
23.08
22.74
22.41
22.07
21.73
21.39
21.05
20.71
20.38
20.04
19.70
Operating Expense (excl Depr) (%)
22.18
22.30
22.42
22.55
22.67
22.79
22.91
23.04
23.16
23.28
23.40
23.53
23.65
47.26
50.68
50.68
50.68
50.68
50.68
50.68
50.68
50.68
50.68
50.68
50.68
50.68
117.81
114.60
114.60
114.60
114.60
114.60
114.60
114.60
114.60
114.60
114.60
114.60
114.60
43.91
42.87
42.87
42.87
42.87
42.87
42.87
42.87
42.87
42.87
42.87
42.87
42.87
0.61
0.72
0.72
0.72
0.72
0.72
0.72
0.72
0.72
0.72
0.72
0.72
0.72
Capital Spending
1,093
91
91
91
91
91
91
91
91
91
91
91
91
Misc Balance Sheet Growth Rate
21.40
5.70
1.19
1.16
1.13
1.11
1.09
1.07
1.05
1.03
1.00
0.99
0.97
Misc Income Statement Growth Rate
4.82
4.82
Depreciation Rate (%)
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
Depreciation Rate to Accumulated (%)
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
9.87
Effective Tax Rate (%)
14.60
14.60
14.60
14.60
14.60
14.60
14.60
14.60
14.60
14.60
14.60
14.60
Dividend Payout Rate (%)
6.59
6.59
6.59
6.59
6.59
6.59
6.59
6.59
6.59
6.59
6.59
6.59
Interest Expense Rate (%)
12.93
12.20
11.35
10.98
10.62
10.27
9.94
9.61
9.30
9.00
8.71
8.44
8.17
Cash/(SG&A + COGS) (%)
Interest Income Rate (%)
Page 94

MISCELLANEOUS REPORTS
Miscellaneous reports are those reports not associated with historicals or projections. The following sample Miscellaneous
reports are available in this document:
Chart of Accounts: This report details the Chart of Accounts available in the RiskAnalyst General Business Financial
Template (MMAS). The Chart of Accounts represents all of the standard data input items. In Moodys KMV
Financial Analyst, you can customize the standard Chart of Accounts for each borrowers financial statements by
adding and relabeling accounts as necessary.
User-Defined Analyses: User-Defined Analyses are unique calculations that are designed for each customer. The
User-Defined Analyses report lists all the user-defined analyses that have been created for the customer.
Added and Relabeled Accounts: This report details the accounts that have been added and relabeled for the customer.
In addition to the sample Miscellaneous Reports shown in this document, the following report is also available:
Customer List: The Customer List report lists all customers available in a specific directory. The report lists the
customers' short name, customer name, model, and group.
Page 95
Chart of Accounts
Chart of Accounts
MMAS
Account
100 Annual Sales Growth (%)
150 Gross Margin (plus Depr) (%)
200 Operating Expense (excl Depr) (%)
250 Net Accounts Receivable Days
300 Inventory Days on Hand (excl Depr)
350 Accounts Payable Days (excl Depr)
400 Cash/(SG&A + COGS) (%)
450 Capital Spending
550 Misc Balance Sheet Growth Rate (%)
600 Misc Income Statement Growth Rate (%)
650 Depreciation Rate (%)
670 Depreciation Rate to Accumulated (%)
700 Effective Tax Rate (%)
750 Dividends Payout Rate (%)
800 Interest Expense Rate (%)
850 Interest Income Rate (%)
940 Total Accounts Receivable (AR)
960 Less: Intracompany AR
970 Less: Holdback/Retainage
980 Less: Concentrations
990 Less: Government and Other
1000 Less: AR over XXX days past due
1020 AR Advance Rate (%)
1050 Cash
1100 Time Deposits
1150 Marketable Securities
1200 Accts/Notes Rec-Trade
1300 Bad Debt Reserve (-)
1230 Loans to Related Co - CP
1240 Due from Related Co - CP
1250 Accts/Notes Rec-Other
1670 Income Tax Receivable
1680 Def Inc Tax Recover - CP
1400 Raw Materials
1450 Work in Process
1500 Inventory
1550 Other Inventory
1600 Supplies
1650 Costs in Excess of Billings
1350 Operating Current Assets
1700 Prepaid Expenses
1750 Operating Current Assets
1790 Derivative Assets - CP
1800 Non-Op Current Assets
1810 Memo - 0 Decimals
1850 LIFO Reserve
1900 Off Bal Sheet Cur Assets
1830 Footnote - Current Assets
2050 Land
2070 Construction in Progress
2100 Property Plant & Equipment
2150 Furniture, Fixtures & Vehicles
2200 Furniture & Fixtures
2250 Leasehold Improvements
2300 Transportation Equipment
2350 Capital Leases
2400 Accumulated Deprec (-)
2450 Accts/Notes Rec-Long Term
2500 Accts/Notes Rec-Offcr/Stkh
2530 Cash Value Life Insurance
2550 Investment in Subsidiaries
2560 Loans to Related Co - LTP
2600 Other Investments
2650 Prepaids/Deferreds - LTP
2800 Operating Non-Cur Assets
2700 Def Inc Tax Recover - LTP
2740 Derivative Assets - LTP
2750 Other Assets
2850 Intangibles - Goodwill
2900 Intangibles - Other
Prepared: 18:05, 9/22/2005

Class Type Flow
2 245 145
2 245 145
2 245 145
2 245 145
2 245 145
2 245 145
2 245 145
2 244 145
2 245 145
2 245 145
2 245 145
2 245 145
2 245 145
2 245 145
2 245 145
2 245 145
50 248 140
50 250 140
50 250 140
50 250 140
50 250 140
50 250 140
50 252 140
5
5
5
5
5
5
5
7
7
5
10
15
5
11
20
5
13
81
5
13
15
5
12
80
5
25
65
5
25
65
5
15
25
5
16
25
5
17
25
5
20
35
5
20
35
5
27
30
5
30
50
5
30
40
5
30
50
5
35
80
5
35
80
5 215 135
5 216 135
5 217 135
5 220 135
5 212 135
10
39
90
10
38
90
10
40
90
10
40
90
10
40
90
10
40
90
10
40
90
10
40
90
10
45
95
10
50
80
10
50
80
10
55
80
10
55
80
10
55
80
10
55
80
10
62
40
10
60
50
10
25
65
10
65
80
10
65
80
10
70 100
10
70 100
Page 96
Chart of Accounts
MMAS
Account
2820 Accumulated Amort (-)
2940 Off Bal Sheet Non-Cur Assets
2930 Footnote - Non-Cur Assets
3050 Overdrafts (Book)
3070 Overdrafts (Financing)
3100 Note Payable - Bank
3150 ST Loans Payable-Other
3200 CPLTD-Bank
3250 CPLTD-Other Secured
3300 CPLTD-Other Unsecured
3350 CP-Capital Lease Obligatns
3370 CP-Subordinated Debt
3400 Accounts Payable-Trade
3450 Loans from Related Co - CP
3460 Due to Related Co - CP
3500 Accounts Pay-Other
3600 Interest Payable
3650 Dividends Payable
3550 Wages/Salaries Payable
3700 P/S Plan Contribution
3750 Bonuses Payable
3800 Accrued Expenses
3920 Other Taxes Payable
3850 Billings in Excess of Costs
3900 Income Taxes Payable
3910 Deferred Fed Inc Tax - CP
3960 Acr'd Post Retrmt Benfts-CP
3970 Operating Current Liabs
3940 Derivative Liabilities - CP
3950 Non-Op Current Liabs
4010 Off Bal Sheet Cur Liabs
4000 Footnote - Current Liabs
4050 Long Term Debt
4100 Long Term Debt-Other Sec
4150 Long Term Debt-Other Unsec
4220 Deferred Debt
4230 Deferred Interest
4200 Capital Lease Obligations
4390 Derivative Liabilities - LTP
4400 Non-Op Non-Cur Liabs
4250 Loans from Officers/Stkhldrs
4300 Loans from Related Co - LTP
4330 Deferred Revenue
4340 Acr'd Post Rtrmt Benfts-LTP
4350 Operating Non-Cur Liabs
4450 Deferred Fed Inc Tax - LTP
4600 Subordinated Debt-Liab
4660 Subord Deferred Debt-Liab
4680 Subord Deferred Int-Liab
4700 Minority Interest-Liab
4800 Other Liabilities-Gray Area
4490 Off Bal Sheet Non-Cur Liabs
4480 Footnote - Non-Cur Liabs
4880 Footnote - Other Liab
4650 Subordinated Debt-Equity
4670 Subord Deferred Debt-Equity
4690 Subord Deferred Int-Equity
4750 Minority Interest-Equity
4850 Other Equity-Gray Area
5050 Preferred Stock
5100 Common Stock
5150 Paid In Capital
5200 Other Equity
Prepared: 18:05, 9/22/2005

Class Type Flow
10
71 120
10 215 135
10 217 135
10 220 135
10 212 135
15
72
37
15
73 105
15
75 105
15
75 105
15
80
75
15
80
75
15
80
75
15
80
75
15
81
75
15
85
25
15
87 106
15
87
25
15
87
27
15
91
70
15
92 130
15
90
35
15
90
35
15
90
35
15
90
35
15
90
35
15 102
15
15
95
65
15
95
65
15 100
50
15 100
50
15 105 106
15 105 106
15 215 135
15 218 135
15 220 135
15 212 135
20 110 125
20 110 125
20 110 125
20 110 107
20 110 107
20 112 125
20 125 105
20 125 105
20 127 105
20 127 105
20 126
15
20 126
50
20 126
50
20 115
65
22 120 105
22 120 108
22 120 108
22 122 106
22 122 106
20 215 135
20 218 135
20 220 135
22 215 135
22 220 135
20 212 135
22 212 135
22 134 102
22 134 109
22 134 109
22 135 102
22 135 102
25 129 102
25 130 102
25 131 102
25 131 102
Page 97
Chart of Accounts
MMAS
Account
5250 Other Equity
5420 Currency Translation
5400 Retained Earnings
5410 Accumulated OCI
5450 Treasury Stock (-)
5480 Footnote - Net Worth
4900 AR Borrowing Base Cap
4920 Senior Liens on Accounts Receivable
4940 Raw Materials
4950 Raw Materials Advance Rate (%)
4970 Work in Process
4980 Work in Process Advance Rate (%)
5000 Finished Goods
5010 Finished Goods Advance Rate (%)
5520 Inventory Borrowing Base Cap
5540 Senior Liens on Inventory
5560 Orders on Hand
5630 Less: Ineligible Orders
5640 Orders Advance Rate (%)
5650 Orders on Hand Cap
5700 Maximum Loan Amount
5720 Current Balance on Loan
5740 Current Overdraft (if any)
5760 Accounts Payable Offset
6050 Net Sales - Manufacturing Division
6070 Net Sales - Catalog Division
6100 Sales/Revenues
6150 Returns & Allowances (-)
6200 Discounts (-)
6250 Cost of Goods Sold
6270 Cost of Sales/Revenues
6300 Cost of Sales/Revenues
6350 Cost of Goods Sold - Depreciation
6400 Other Operating Income (+)
6420 Selling Expense
6450 SG & A Expense
6470 Other Gen & Admin Expense
6490 Post Retirement Benefit Expense
6500 Operating Expense
6550 Officers' Compensation
6560 Personnel Expense
6570 Lease/Rent Expense
6600 Depreciation
6650 Amortization
6580 Research & Development
6700 Bad Debt Expense
6750 Other Operating Expense
7530 Dividends - ESOP Trust
6850 Interest Expense (-)
6870 Deferred Interest Expense (-)
6880 Capitalized Interest
6800 Interest Income
6900 Income from Subs/Joint Ventures
7000 Non-Cash Income
7010 Non-Cash Expense (-)
7040 Gain on Derivatives
7050 Other Income
7090 Loss on Derivatives (-)
7100 Other Expense (-)
7120 Commitment Fees (-)
7150 Gain(Loss) on Asset Sale
7250 Current Income Tax
7300 Deferred Income Tax
7320 Income Tax Credit (+)
7230 Minority Interest
7200 Extraordinary Gain(Loss)
7350 After Tax Income
7400 After Tax Expense (-)
7470 Cumulative Effect of Acct'g Chg
Prepared: 18:05, 9/22/2005

Class Type Flow
25 131 102
25 133
5
25 140 103
25 141 118
25 132 105
25 215 135
25 220 135
25 212 135
50 254 140
50 256 140
50 258 140
50 252 140
50 260 140
50 252 140
50 262 140
50 252 140
50 264 140
50 266 140
50 268 140
50 270 140
50 252 140
50 272 140
50 274 140
50 276 140
50 278 140
50 280 140
30 145
15
30 145
15
30 145
15
30 147
20
30 147
20
30 150
25
30 150
25
30 150
25
30 152
95
30 157
45
30 156
55
30 156
55
30 156
55
30 156
55
30 155
35
30 158
35
30 155
35
30 159
35
30 160
95
30 162 120
30 155
35
30 155
21
30 155
35
30 207
35
30 170
70
30 170 107
30 171
91
30 165
85
30 182 110
30 175
60
30 176
61
30 180
87
30 180
87
30 185 115
30 185 115
30 185 115
30 184
90
30 190
65
30 190
65
30 192
66
30 196 104
30 195
88
30 195
88
30 200 116
30 197
67
Page 98
Chart of Accounts
MMAS
Account
7480 After Tax Non-Cash Inc(Exp)
7450 Dividends - Stock
7500 Dividends - Preferred
7520 Dividends - Common
7550 Withdrawals
7600 Prior Period Adjustments
7650 Adj to Retained Earnings
7670 Footnote - Income/Expense
7700 Unreal Gain/(Loss) on Mark Sec
7720 OCI Foreign Currency Translation
7740 Minimum Pension Liab Adj
7760 Other OCI Adjustment
7780 Deferred Hedging Gain/(Loss)
7790 Derivatives - FMV Adjustment
8000 Min Working Capital
8050 Min Current Ratio
8100 Min Quick Ratio
8150 Max Debt to Tangible Worth
8170 Min Interest Coverage
8200 Min Net Income+Depr+AmortDivs/CPLTD
8250 Max Capital Expenditures
8300 Min Net Margin
8350 Min Return on Equity
8400 Min Return on Assets
8450 Max Net Accounts Receivable Days
8500 Max Inventory Days
8550 Max Accounts Payable Days
8600 Max Officers' Compensation
8650 Max Lease/Rent Expense
8700 Max Cash Dividends & Withdrawals
8750 Max Subordinated Debt Payment
8800 Max New Debt
8850 Min Tangible Net Worth
8880 Min Cash Balance
8900 Max Sales Growth (%)
9000 Prime Rate
9050 LIBOR
9100 Money Market
9150 Market Value of Equity
9160 Non-Op Income from Above
9200 Proceeds from Asset Sales
9210 Capital Expenditures
9230 Capitalized Interest
9250 Proceeds from ST/LT Borrowings
9270 Principal Pmts on ST and LTD
9300 Total Line of Credit
9320 Unused Portion-Line of Credit
9500 SIC Code
9600 Projected Interest Expense
9650 Projected Interest Income
9700 Proj Int Exp - Def Debt Amort
9750 Percent Cash Sales
9760 Footnote - Statistics
9850 Adjustments to Intangibles
9900 Contingent Liabilities
9950 Exchange Rate
Prepared: 18:05, 9/22/2005

Class Type Flow
30 197
67
32 205 102
32 208 130
32 206 130
32 206 130
32 210 103
32 210 103
30 215 135
30 220 135
30 212 135
31 201 117
31 201 117
31 201 117
31 201 117
31 201 117
31 201 117
40 230 135
40 235 135
40 235 135
40 235 135
40 235 135
40 235 135
40
40
40
40
40
40
40
40
40
40
40
40
40
40
40
35
35
35
35
35
35
35
35
35
35
35
35
35
30
30
30
35
35
35
35
35
230
235
235
235
235
235
235
230
230
230
230
230
230
230
235
240
240
240
215
215
215
215
215
215
215
215
215
219
170
165
170
220
212
222
215
221
135
135
135
135
135
135
135
135
135
135
135
135
135
135
135
135
135
135
135
135
96
97
98
76
77
135
135
135
70
85
107
135
135
135
135
135
Page 99
User-Defined Analyses
User-Defined Analyses
Customer: MMAS Sample Customer
Name:
Pro Forma EBITDA
Print On Reports:
Yes
Decimal Places:
0
Round Protect:
No
Credit Compliance:
Yes
Date
Value
6/30/2001
400
6/30/2002
400
6/30/2003
400
6/30/2004
400
6/30/2005
400
Compliance Is Minimum:
Yes
Formula:
MacroValue=FE.MACRO(M.GROSS_PROFIT)FE.MACRO(M.OPERATING_EXP_EXCL_DEPR_TO_SALES)+FE.ACCOUNT(A.CostofSalesDepreciation)
Prepared: 18:05, 9/22/2005
Added and Relabeled Accounts

Added and Relabeled Accounts
Customer: MMAS Sample Customer
Original Name
New Name
Added Accounts
Relabeled Accounts
Finished Goods
Inventory
Prepaids/Deferreds - CP
Prepaid Expenses
Buildings & Improvements
Machinery & Equipment
Non-Op Non-Cur Assets
Other Assets
ST Loans Payable-Bank
Note Payable - Bank
Other Accruals
Accrued Expenses
Long Term Debt-Bank
Long Term Debt
Sales/Revenues
Sales/Revenues
Cost of Goods Sold
General & Admin Expense
SG & A Expense
Prepared: 18:05, 9/22/2005

Class
Type
Flow
Current Assets
Current Assets
Non-Current Assets
Non-Current Assets
Non-Current Assets
Current Liabilities
Current Liabilities
Non-Current Liabilities
Income/Expenses
Income/Expenses
Income/Expenses
Income/Expenses
Income/Expenses
Inventory-Fin Good
Op Current Asset
Gross Fixed Assets
Gross Fixed Assets
Non-Op Non-Cur Asset
Short Term Payables
Accrued Liabilities
Long Term Debt
Sales
Sales
Cost of Sales
Cost of Sales-Deprec
SG & A Expense
Purchases
Prepaids
Fixed Assets
Fixed Assets
Investments
Financings
Operating Expenses
LT Financings
Revenue
Revenue
Purchases
Depreciation
SG & A Expense
Page 100
RATINGS PACKAGE REPORTS

Ratings Package Reports include both Customer and Explanation reports. These reports display information on the assessment
of a customer by the internal rating model. The various reports cover Borrower Rating or scorecard score, facility or LGD
analysis, and the history of customer archives. Each report reproduces information available in the scorecard, facility, and
archive functionality within RiskAnalyst.
In addition to the sample Ratings Package Reports shown in this document, the following report is also available:
Archive History
Page 101
Ratings Summary
Durawear Limited, Inc. (2005) (DWLMMAS)
Ratings Summary
Scorecard Name:
Source Currency:
Target Currency:
User Name:
Prepared: 09:12, 10/14/2005

Middle Market MMAS
USD United States Dollars
John Baer
Scorecard Summary
Section
Weighted Score
Historical Ratio Assessments

Balance Sheet Factors
Industry / Market
Company
Management
Total
Grade
Equivalent PD
1 Yr EDF
5
2.06 %
4.26
Facilities Summary: Committed

EAD
3100.00
LGD
37.81 %
Facility Grade
C
EL%
1.61 %
LGD
59.04 %
Facility Grade
E
EL%
2.52 %
Facilities Summary: Proposed

EAD
7225.00
Page 102
Scorecard Detail
Scorecard Detail
Scorecard Name:
Source Currency:
Target Currency:
User Name:
Prepared: 09:12, 10/14/2005

Middle Market MMAS
John Baer
Section Name: Historical Ratio Assessments

Factor
Operations
Net Profit before Tax / TA
Net Profit before Tax / Sales
Net profit before Tax / TNW
Net Sales Growth
Gross Margin
Breakeven Sales Realization
Debt Service
Earnings Coverage
Cash Flow Coverage
Liquidity
Quick
Inventory Days
Capital Structure
Debt / Tangible Net Worth
Borrowed Funds / EBITDA
Borrowed Funds / Effective TNW
Section Total
Value
14
9
12
87
41
19
37
10
40
50
98
30
63
64
4
60
Section Name: Balance Sheet Factors

Factor
Audit Method
Operations
Growth Funding
Liquidity
Inventory Valuation
Debtor Risk
Capital Structure
Debt Repayment
Owner Support (% of Existing Facilities)
Intrinsic Full Value of Intangibles
Section Total
Value
Unqualified
Poor
Auditor Present
Average Spread / Good Quality
Tight Spread
< 10%
Negligible
Section Name: Industry / Market

Factor
Industry
Industry Type
Market
Market Conditions
Customer Power
Diversification of Products
Competitive Positioning
Section Total
Value
Manufacturing - Miscellaneous Industries
Neutral
Some
Many Products, Narrow Market
Neutral
Section Name: Company

Factor
Years in Relationship
Business Stage
Quality Management
Supplier Power
Credit History
Conduct of Account
Section Total
Value
> 2 Years
Stable - Mature
Exceeds Industry Standards
Some
Clear
Good
Page 103
Section Name: Management

Factor
Experience in Industry
Financial Reporting and Formal Planning
Risk Management
Openness
Risk Appetite
Management Style and Structure
Section Total
Value
> 20 years
Appropriate Planning and Reporting
Pro-active
Meets Expectations
Balanced
Adequate
Scorecard Summary
Section
Weighted Score

Industry / Market
Company
Management
Total
Grade
Equivalent PD
1 Yr EDF
5
2.06 %
4.26
Page 104
Facility Summary Committed

Facility Summary - Committed
Source Currency:
Target Currency:
Borrower Grade:
5
Borrower PD:
2.06 %
1 Yr EDF
4.26
Facility Grade:
C
Total EAD
3100.00
Facility: OD1
Type
Overdraft
Aggregate LGD%
37.81 %
EAD
1500.00
Seniority
Senior
Prepared: 09:12, 10/14/2005

Total LGD
1172.08
Guaranteed
Yes
Aggregate EL%
1.61 %
LGD%
37.81 %
Facility Grade
C
Total EL
49.94
EL%
1.61 %
LGD by Portion
Valuation
3100.00
8279.00
Guaranteed
Collateralized
Unsecured
Non-Guaranteed
Facility: TL1
Type
Term Loan
EAD
1600.00
Seniority
Senior
Eligible Amount
0.00
1500.00
0.00
1500.00
Guaranteed
Yes
LGD%
0.00 %
37.81 %
45.00 %
37.81 %
LGD%
37.81 %
LGD Amount
0.00
567.14
0.00
567.14
Facility Grade
C
EL%
1.61 %
LGD by Portion
Guaranteed
Collateralized
Unsecured
Non-Guaranteed
Valuation
3100.00
8279.00
Eligible Amount
0.00
1600.00
0.00
1600.00
LGD%
0.00 %
37.81 %
45.00 %
37.81 %
LGD Amount
0.00
604.94
0.00
604.94
Page 105
Facility Summary Proposed

Facility Summary - Proposed
Source Currency:
Target Currency:
Borrower Grade:
5
Borrower PD:
2.06 %
1 Yr EDF
4.26
Facility Grade:
E
Total EAD
7225.00
Facility: OD1
Type
Overdraft
Aggregate LGD%
59.04 %
EAD
1500.00
Seniority
Senior
Prepared: 09:12, 10/14/2005

Total LGD
4265.83
Guaranteed
Yes
Aggregate EL%
2.52 %
LGD%
37.81 %
Facility Grade
C
Total EL
181.74
EL%
1.61 %
LGD by Portion
Valuation
3100.00
8279.00
Guaranteed
Collateralized
Unsecured
Non-Guaranteed
Facility: RLC 1
Type
Revolving Line of
Credit
EAD
4125.00
Seniority
Subordinated
Eligible Amount
0.00
1500.00
0.00
1500.00
Guaranteed
No
LGD%
0.00 %
37.81 %
45.00 %
37.81 %
LGD%
75.00 %
LGD Amount
0.00
567.14
0.00
567.14
Facility Grade
F
EL%
3.20 %
LGD by Portion
Valuation
0.00
Collateralized
Unsecured
Non-Guaranteed
Facility: TL1
Type
Term Loan
EAD
1600.00
Seniority
Senior
Eligible Amount
0.00
4125.00
4125.00
Guaranteed
Yes
LGD%
0.00 %
75.00 %
75.00 %
LGD%
37.81 %
LGD Amount
0.00
3093.75
3093.75
Facility Grade
C
EL%
1.61 %
LGD by Portion
Guaranteed
Collateralized
Unsecured
Non-Guaranteed
Valuation
3100.00
8279.00
Eligible Amount
0.00
1600.00
0.00
1600.00
LGD%
0.00 %
37.81 %
45.00 %
37.81 %
LGD Amount
0.00
604.94
0.00
604.94
Page 106
Facility Details Committed

Facility Details - Committed
Source Currency:
Target Currency:
Borrower Grade:
5
Borrower PD:
2.06 %
1 Yr EDF
4.26
Facility Grade:
C
Total EAD
3100.00
Facility: OD1
Type
Overdraft
Guarantees
ID
PG1
Prepared: 09:12, 10/14/2005

Aggregate LGD%
37.81 %
EAD
1500.00
Total LGD
1172.08
Seniority
Senior
Aggregate EL%
1.61 %
Guaranteed
Yes
Type
Personal
Eligible Amount
0.00
Type
Receivables (Less Than
1 Year) - Not Affiliate
Plant and Equipment
(excl Leasehold
Improvements)
Inventory - Not Inspected
LGD%
37.81 %
PD
3.20 %
Facility Grade
C
Total EL
49.94
EL%
1.61 %
LGD%
0.00 %
LGD Amount
0.00
Eligible Amount
657.29
LGD%
35.00 %
LGD Amount
230.05
842.71
40.00 %
337.08
0.00
40.00 %
0.00
Collateral
ID
Rec1
PE1
Inv1
Facility: TL1
Type
Term Loan
Guarantees
ID
PG1
EAD
1600.00
Seniority
Senior
Guaranteed
Yes
Type
Personal
Eligible Amount
0.00
Type
Plant and Equipment
(excl Leasehold
Improvements)
LGD%
37.81 %
PD
3.20 %
Facility Grade
C
EL%
1.61 %
LGD%
0.00 %
LGD Amount
0.00
Eligible Amount
701.11
LGD%
35.00 %
LGD Amount
245.39
898.89
40.00 %
359.56
0.00
40.00 %
0.00
Collateral
ID
Rec1
PE1
Inv1
Page 107
Facility Details Proposed

Facility Details - Proposed
Source Currency:
Target Currency:
Borrower Grade:
5
Borrower PD:
2.06 %
1 Yr EDF
4.26
Facility Grade:
E
Total EAD
7225.00
Facility: OD1
Type
Overdraft
Guarantees
ID
PG1
Prepared: 09:12, 10/14/2005

Aggregate LGD%
59.04 %
EAD
1500.00
Total LGD
4265.83
Seniority
Senior
Aggregate EL%
2.52 %
Guaranteed
Yes
Type
Personal
Eligible Amount
0.00
Type
Plant and Equipment
(excl Leasehold
Improvements)
LGD%
37.81 %
PD
3.20 %
Facility Grade
C
Total EL
181.74
EL%
1.61 %
LGD%
0.00 %
LGD Amount
0.00
Eligible Amount
657.29
LGD%
35.00 %
LGD Amount
230.05
842.71
40.00 %
337.08
0.00
40.00 %
0.00
Collateral
ID
Rec1
PE1
Inv1
Facility: RLC 1
Type
Revolving Line of
Credit
Facility: TL1
Type
Term Loan
Guarantees
ID
PG1
EAD
4125.00
Seniority
Subordinated
Guaranteed
No
LGD%
75.00 %
Facility Grade
F
EL%
3.20 %
EAD
1600.00
Seniority
Senior
Guaranteed
Yes
LGD%
37.81 %
Facility Grade
C
EL%
1.61 %
Type
Personal
Eligible Amount
0.00
Type
Plant and Equipment
(excl Leasehold
Improvements)
PD
3.20 %
LGD%
0.00 %
LGD Amount
0.00
Eligible Amount
701.11
LGD%
35.00 %
LGD Amount
245.39
898.89
40.00 %
359.56
0.00
40.00 %
0.00
Collateral
ID
Rec1
PE1
Inv1
Page 108
Scorecard Detail (Explanation)

Scorecard Detail (Explanation)
Scorecard Name:
Scorecard Description:
Source Currency:
Target Currency:
User Name:
Prepared: 09:26, 10/14/2005

Middle Market MMAS
Middle Market Internal Rating model
John Baer
Section Name: Historical Ratio Assessments

Factor
Operations
Net Profit before Tax / TA
Net Profit before Tax / Sales
Net profit before Tax / TNW
Net Sales Growth
Gross Margin
Breakeven Sales Realization
Debt Service
Earnings Coverage
Cash Flow Coverage
Liquidity
Quick
Inventory Days
Capital Structure
Debt / Tangible Net Worth
Borrowed Funds / EBITDA
Borrowed Funds / Effective TNW
Section Total
Value
Raw Score
14
9
12
87
41
19
37
14
9
12
87
41
19
37
10
40
10
40
50
98
30
63
50
98
30
63
64
4
60
64
4
60
Range
~
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
~
0.00 ~ 100.00
0.00 ~ 100.00
~
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
~
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
Weight
Weighted Score
0.04
0.04
0.04
0.05
0.03
0.04
0.06
0.56
0.36
0.48
4.35
1.23
0.76
2.22
0.13
0.12
1.3
4.8
0.06
0.03
0.06
0.06
3
2.94
1.8
3.78
0.08
0.08
0.08
5.12
0.32
4.8
Weight
0.15
Weighted Score
8.25
0.4
0.07
0.08
7
6.8
0.15
0.1
3.75
0
0.05
2.25
Section Name: Balance Sheet Factors

Factor
Audit Method
Operations
Growth Funding
Liquidity
Inventory Valuation
Debtor Risk
Capital Structure
Debt Repayment
Owner Support (% of Existing
Facilities)
Intrinsic Full Value of Intangibles
Section Total
Value
Raw Score
Tight Spread
< 10%
25
0
Range
-15.00 ~ 55.00
~
0.00 ~ 115.00
~
0.00 ~ 100.00
0.00 ~ 87.50
~
0.00 ~ 110.00
0.00 ~ 100.00
Negligible
45
45.00 ~ 105.00
Unqualified
55
Poor
10
Auditor Present
Average Spread / Good Quality
100
85
Section Name: Industry / Market

Factor
Industry
Industry Type
Market
Market Conditions
Customer Power
Diversification of Products
Competitive Positioning
Section Total
Value
Raw Score
Manufacturing - Miscellaneous
Industries
46.07
Neutral
Some
Many Products, Narrow Market
Neutral
25
50
75
25
Range
~
6.21 ~ 76.68
~
-7.50 ~ 128.00
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
Weight
Weighted Score
0.3
13.821
0.25
0.25
0.12
0.08
6.25
12.5
9
2
Page 109
Section Name: Company

Factor
Years in Relationship
Business Stage
Quality Management
Supplier Power
Credit History
Conduct of Account
Section Total
Value
> 2 Years
Stable - Mature
Exceeds Industry Standards
Some
Clear
Good
Raw Score
66.7
75
115
50
110
110
Range
0.00 ~ 66.70
0.00 ~ 80.00
0.00 ~ 115.00
0.00 ~ 100.00
0.00 ~ 110.00
0.00 ~ 110.00
Weight
Value
> 20 years
Appropriate Planning and
Reporting
Pro-active
Meets Expectations
Balanced
Adequate
Raw Score
Range
0.00 ~ 100.00
0.00 ~ 85.00
Weight
100
75
100
50
100
50
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 100.00
0.00 ~ 115.00
0.1
0.14
0.1
0.2
0.23
0.23
Weighted Score
6.67
10.5
11.5
10
25.3
25.3
Section Name: Management

Factor
Experience in Industry
Financial Reporting and Formal
Planning
Risk Management
Openness
Risk Appetite
Management Style and Structure
Section Total
Weighted Score
0.1
0.2
10
15
0.2
0.2
0.1
0.2
20
10
10
10
Scorecard Summary
Section
Weight
Weighted Score
0.4
0.15
Industry / Market
0.1
Company
0.2
Management
0.15
Total
Grade
Equivalent PD
1 Yr EDF
5
2.06 %
4.26
Page 110
Facility Explanation Report Committed

Facility Explanation Report - Committed
Source Currency:
Target Currency:
Prepared: 18:10, 9/22/2005

Facilities
Facility ID
OD1
Facility Type
Overdraft
Seniority
Senior
Facility Grade
C
TL1
Term Loan
Senior
Facility Expected Loss

Expected Loss is often defined as the product of the PD, the EAD and the LGD%. However, it should be noted that for portions of facilities that are
guaranteed, the guarantor's PD is used in place of the Borrower's. Therefore RiskAnalyst actually calculates the facility expected loss as the sum of the
expected losses for each portion of the exposure.
RiskAnalyst calculates the EAD for the facility and then divides this into three main portions: a collateralized portion, a guaranteed portion and an
unsecured portion. The collateralized and guaranteed portions are in turn further subdivided into portions attributed to each piece of collateral and
guarantee.
The Borrowers PD is 2.06 % and this is used in the EL calculations for the collateralized and unsecured portions. For the guaranteed portion, the PD of
each guarantor will be used for the portion covered by that guarantee. Therefore, one must calculate ELs for each guarantee separately and then sum
them up.
In order to work out the sizes of the guaranteed and collateralized portions, RiskAnalyst determines eligible amounts for each guarantee and collateral
item allocated to the facility. This is done by first applying the relevant haircut, any prior liens and limitation, and allocation percentage. Applying the
result to the amount required for this facility gives the eligible amount.
The process used for eligible collateral is very similar.
The following sections take each proposed and committed facility in turn and describe how it is broken into portions and the allocation of each guarantee
and collateral item.
Facility ID: OD1
Guaranteed Portion
Collateralized Portion
Unsecured Portion
Facility Type: Overdraft

Exposure Portion (Eligible Amount)
0.00
1500.00
0.00
Loss Given Default

0.00
567.14
0.00
Expected Loss
0.00
24.16
0.00
Guaranteed Portion of: OD1

Guarantee ID:PG1
Guarantor
Haircut
Allocation Using EAD Weighting
Allocation Used
Eligible
LGD% used
Owner
Type
Valuation
Value after haircut
0.00 %
0.00 %
0.00 %
Net Allocation
No - Personal Guarantees not eligible Amount Used (Eligible Amount)
Unused surplus
45.00 %
Loss Given Default
Personal
3100.00
3100.00
0.00
0.00
0.00
0.00
Collateralized Portion of: OD1

Collateral ID: Rec1
Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% for Collateral Type
LGD% used
Receivables (Less Than 1 Year) - Not Valuation

Affiliate
20.00 %
Value after haircut
0.00
Expected Realization
48.39 %
48.39 %
Net Allocation
Yes
Amount Used (Eligible Amount)
Unused surplus
35.00 %
35.00 %
Loss Given Default
Expected Loss
1698.00
1358.40
1358.40
657.29
657.29
0.00
230.05
9.80
Page 111
Collateral ID: PE1

Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used
Collateral ID: Inv1

Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used
Plant and Equipment (excl Leasehold Valuation

Improvements)
28.57 %
Value after haircut
0.00
48.39 %
48.39 %
Net Allocation
Yes
Unused surplus
40.00 %
40.00 %
Loss Given Default
Expected Loss

28.57 %
0.00
0.00 %
0.00 %
No - Collateral type not eligible
40.00 %
40.00 %
Facility ID: TL1
Guaranteed Portion
Unsecured Portion
3525.00
2517.86
2517.86
1218.32
842.71
375.61
337.08
14.36
Valuation
Value after haircut
3056.00
2182.86
2182.86
Net Allocation
Unused surplus
0.00
0.00
0.00
Loss Given Default

Expected Loss
0.00
0.00
Facility Type: Term Loan

0.00
1600.00
0.00
Loss Given Default

0.00
604.94
0.00
Expected Loss
0.00
25.77
0.00
Guaranteed Portion of: TL1

Guarantee ID:PG1
Guarantor
Haircut
Allocation Used
Eligible
LGD% used
Owner
Type
Valuation
Value after haircut
0.00 %
0.00 %
0.00 %
Net Allocation
Unused surplus
45.00 %
Loss Given Default
Personal
3100.00
3100.00
0.00
0.00
0.00
0.00
Collateralized Portion of: TL1

Collateral ID: Rec1
Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used

Affiliate
20.00 %
Value after haircut
0.00
51.61 %
51.61 %
Net Allocation
Yes
Unused surplus
35.00 %
35.00 %
Loss Given Default
Expected Loss
1698.00
1358.40
1358.40
701.11
701.11
0.00
245.39
10.45
Page 112
Collateral ID: PE1

Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used
Collateral ID: Inv1

Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used

Improvements)
28.57 %
Value after haircut
0.00
51.61 %
51.61 %
Net Allocation
Yes
Unused surplus
40.00 %
40.00 %
Loss Given Default
Expected Loss

28.57 %
0.00
0.00 %
0.00 %
40.00 %
40.00 %
3525.00
2517.86
2517.86
1299.54
898.89
400.65
359.56
15.32
Valuation
Value after haircut
3056.00
2182.86
2182.86
Net Allocation
Unused surplus
0.00
0.00
0.00
Loss Given Default

Expected Loss
0.00
0.00
Page 113
Facility Explanation Report Proposed

Facility Explanation Report - Proposed
Source Currency:
Target Currency:
Prepared: 18:10, 9/22/2005

Facilities
Facility ID
OD1
Facility Type
Overdraft
Seniority
Senior
Facility Grade
C
TL1
Term Loan
Senior
Facility Expected Loss

Expected Loss is often defined as the product of the PD, the EAD and the LGD%. However, it should be noted that for portions of facilities that are
guaranteed, the guarantor's PD is used in place of the Borrower's. Therefore RiskAnalyst actually calculates the facility expected loss as the sum of the
expected losses for each portion of the exposure.
RiskAnalyst calculates the EAD for the facility and then divides this into three main portions: a collateralized portion, a guaranteed portion and an
unsecured portion. The collateralized and guaranteed portions are in turn further subdivided into portions attributed to each piece of collateral and
guarantee.
The Borrowers PD is 2.06 % and this is used in the EL calculations for the collateralized and unsecured portions. For the guaranteed portion, the PD of
each guarantor will be used for the portion covered by that guarantee. Therefore, one must calculate ELs for each guarantee separately and then sum
them up.
In order to work out the sizes of the guaranteed and collateralized portions, RiskAnalyst determines eligible amounts for each guarantee and collateral
item allocated to the facility. This is done by first applying the relevant haircut, any prior liens and limitation, and allocation percentage. Applying the
result to the amount required for this facility gives the eligible amount.
The process used for eligible collateral is very similar.
The following sections take each proposed and committed facility in turn and describe how it is broken into portions and the allocation of each guarantee
and collateral item.
Facility ID: OD1
Guaranteed Portion
Unsecured Portion
Facility Type: Overdraft

0.00
1500.00
0.00
Loss Given Default

0.00
567.14
0.00
Expected Loss
0.00
24.16
0.00
Guaranteed Portion of: OD1

Guarantee ID:PG1
Guarantor
Haircut
Allocation Used
Eligible
LGD% used
Owner
Type
Valuation
Value after haircut
0.00 %
0.00 %
0.00 %
Net Allocation
Unused surplus
45.00 %
Loss Given Default
Personal
3100.00
3100.00
0.00
0.00
0.00
0.00
Collateralized Portion of: OD1

Collateral ID: Rec1
Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used

Affiliate
20.00 %
Value after haircut
0.00
48.39 %
48.39 %
Net Allocation
Yes
Unused surplus
35.00 %
35.00 %
Loss Given Default
Expected Loss
1698.00
1358.40
1358.40
657.29
657.29
0.00
230.05
9.80
Page 114
Collateral ID: PE1

Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used
Collateral ID: Inv1

Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used

Improvements)
28.57 %
Value after haircut
0.00
48.39 %
48.39 %
Net Allocation
Yes
Unused surplus
40.00 %
40.00 %
Loss Given Default
Expected Loss

28.57 %
0.00
0.00 %
0.00 %
40.00 %
40.00 %
Facility ID: RLC 1
Guaranteed Portion
Unsecured Portion
2517.86
2517.86
1218.32
842.71
375.61
337.08
14.36
Valuation
Value after haircut
3056.00
2182.86
2182.86
Net Allocation
Unused surplus
0.00
0.00
0.00
Loss Given Default

Expected Loss
0.00
0.00
Facility Type: Revolving Line of Credit

0.00
0.00
4125.00
Facility ID: TL1
Guaranteed Portion
Unsecured Portion
3525.00
Loss Given Default

0.00
0.00
3093.75
Expected Loss
0.00
0.00
131.81
Facility Type: Term Loan

0.00
1600.00
0.00
Loss Given Default

0.00
604.94
0.00
Expected Loss
0.00
25.77
0.00
Guaranteed Portion of: TL1

Guarantee ID:PG1
Guarantor
Haircut
Allocation Used
Eligible
LGD% used
Owner
Type
Valuation
Value after haircut
0.00 %
0.00 %
0.00 %
Net Allocation
Unused surplus
45.00 %
Loss Given Default
Personal
3100.00
3100.00
0.00
0.00
0.00
0.00
Collateralized Portion of: TL1

Collateral ID: Rec1
Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used

Affiliate
20.00 %
Value after haircut
0.00
51.61 %
51.61 %
Net Allocation
Yes
Unused surplus
35.00 %
35.00 %
Loss Given Default
Expected Loss
1698.00
1358.40
1358.40
701.11
701.11
0.00
245.39
10.45
Page 115
Collateral ID: PE1

Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used
Collateral ID: Inv1

Type
Haircut
Prior Liens
Limitation
Allocation Used
Eligible
LGD% used

Improvements)
28.57 %
Value after haircut
0.00
51.61 %
51.61 %
Net Allocation
Yes
Unused surplus
40.00 %
40.00 %
Loss Given Default
Expected Loss

28.57 %
0.00
0.00 %
0.00 %
40.00 %
40.00 %
3525.00
2517.86
2517.86
1299.54
898.89
400.65
359.56
15.32
Valuation
Value after haircut
3056.00
2182.86
2182.86
Net Allocation
Unused surplus
0.00
0.00
0.00
Loss Given Default

Expected Loss
0.00
0.00
Page 116
MOODYS KMV SUPPORTLINE

If you are still having problems after referring to the Online Help System, you can reach the Moodys KMV SupportLine at:
Phone:
North American Callers:
+1.866.995.9659
International Callers:
Dial your AT&T Country Access Code followed by

+1.866.995.9659 or +1.415.874.6568
To obtain your countrys AT&T Direct Access code, visit
http://www.business.att.com/bt/access.jsp?c=a
Email:
mailto:techsupport@MKMV.com
Web Site:
https://support.moodyskmv.com/
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Detailed Income Statement Actual

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Detailed Balance Sheet Trend

Detailed FAS 95 Stmt of Cash Flows (Direct)

Summary Income Statement Actual

Summary Balance Sheet %

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Target Currency: USD United States Dollars

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Cost of Goods Sold

TOTAL COST OF SALES/REV

TOTAL OPERATING EXPENSE

NET OPERATING PROFIT

TOTAL OTHER INCOME(EXP)

PROFIT BEFORE TAXES

Moodys KMV Sample Reports

Prepared: 17:58, 9/22/2005

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Target Currency: USD United States Dollars

Net Sales - Manufacturing Division

Cost of Goods Sold

TOTAL COST OF SALES/REV

TOTAL OPERATING EXPENSE

NET OPERATING PROFIT

TOTAL OTHER INCOME(EXP)

PROFIT BEFORE TAXES

Moodys KMV Sample Reports

Prepared: 17:58, 9/22/2005

Detailed Balance Sheet Actual and %