| Address:
|
300 FELLOWSHIP ROAD
|
| City: |
MT. LAUREL |
|
State: |
NJ |
|
Zip Code: |
08054 |
| Telephone: |
888-479-9111 |
|
Description of Business
|
Primary SIC Code:
6022 |
| (As filed with the SEC)
|
|
|
We are a nationwide provider of equipment financing and working capital
solutions primarily to small businesses. We finance over 70 categories of
commercial equipment important to our end user customers, including copiers,
certain commercial and industrial equipment, computers, telecommunications
equipment, and security systems. Our average lease transaction was approximately
$11,000 at December 31, 2007, and we typically do not exceed $250,000 for any
single lease transaction. This segment of the equipment leasing market is
commonly known in the industry as the small-ticket segment. We access our end
user customers through origination sources comprised of our existing network of
over 11,300 independent commercial equipment dealers and, to a lesser extent,
through relationships with lease brokers and direct solicitation of our end user
customers. We use a highly efficient telephonic direct sales model to market to
our origination sources. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2009 | -0.56 | NA | N/E | | 06/2009 | -0.68 | NA | N/E | | 03/2009 | -0.63 | NA | N/E | | 12/2008 | -0.44 | NA | N/E | | 09/2008 | 0.43 | NA | 19.72 | | 06/2008 | 0.91 | NA | 7.62 | | 03/2008 | 1.19 | NA | 6.34 | | 12/2007 | 1.49 | NA | 8.09 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2008 |
Leverage |
2008 |
| Net Inc/Comm Equity | -0.06 | Total Liab/Total Assets | 0.81 | | Net Inc/Total Assets | -0.01 | Total Liab/Inv Cap | 0.90 | | Net Inc/Inv Cap | -0.01 | Total Liab/Comm Equity | 7.74 | | Pretax Inc/Net Sales | -0.07 | Interest Coverage Ratio | 0.77 | | Net Inc/Net Sales | -0.05 | Curr Debt/Equity | NA | | Cash Flow/Net Sales | 0.32 | LTD/Equity | 3.76 | | SG&A/NetSales | 0.34 | Total Debt/Equity | 3.76 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 32.81 | Quick Ratio | 1.31 | | Inventory Turnover | NA | Current Ratio | 1.31 | | Inventory Day Sales | NA | Net Rec/Curr Assets | 0.03 | | Net Sales/Work Cap | 4.77 | Inv/Curr Assets | NA | | Net Sales/PP&E | 39.04 | | |
Income Statement (Millions) |
| |
6/30/2009
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
|
Total Revenues(Net Sales)
|
23.37
|
26.06
|
27.52
|
28.63
|
|
Cost of Goods Sold
|
0.70
|
0.65
|
NA
|
NA
|
|
Selling & Admin Exps
|
8.40
|
9.54
|
5.86
|
12.60
|
|
Operating Income
|
8.13
|
5.81
|
-3.74
|
7.42
|
|
Interest Exp
|
6.75
|
7.18
|
8.48
|
8.79
|
|
Pretax Income
|
1.38
|
-1.37
|
-12.23
|
-1.37
|
|
Other Income
|
NA
|
NA
|
NA
|
NA
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
0.95
|
-0.88
|
-7.35
|
-0.94
|
|
Assets
|
6/30/2009
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
|
Cash & Short Term Investments
|
121.28
|
121.85
|
98.99
|
81.45
|
|
Receivables - Total
|
7.71
|
7.49
|
3.12
|
4.03
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
128.99
|
129.34
|
102.11
|
85.48
|
|
Net Property, Plant & Equipment
|
2.82
|
2.93
|
2.96
|
2.95
|
|
Total Assets
|
690.65
|
765.02
|
795.82
|
803.92
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
17.81
|
18.18
|
14.47
|
18.80
|
|
Debt in Current Liabilities
|
98.13
|
116.31
|
NA
|
NA
|
|
Total Current Liabilities
|
193.24
|
209.35
|
77.85
|
65.97
|
|
Long-Term Debt
|
337.76
|
395.25
|
554.84
|
570.64
|
|
Total Liabilities
|
543.99
|
618.54
|
648.36
|
651.47
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
0.13
|
0.13
|
0.12
|
0.12
|
|
Retained Earnings
|
62.74
|
62.62
|
63.50
|
70.85
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
146.66
|
146.49
|
147.46
|
152.45
|
|
Total Liabilities and Stockholders' Equity
|
690.65
|
765.02
|
795.82
|
803.92
|
Cash Flow Summary (Millions) |
|
Categories
|
6/30/2009
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
|
Net Cash Provided by Operating Activities
|
14.93
|
11.51
|
4.68
|
10.09
|
|
Net Cash Provided by Investing Activities
|
59.34
|
31.37
|
17.80
|
19.54
|
|
Net Cash Provided by Financing Activities
|
-71.21
|
-32.69
|
-6.85
|
-49.27
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2004 | 75.55 | 13.46 | 1.15 | | 12/2005 | 90.21 | 16.25 | 1.36 | | 12/2006 | 103.46 | 18.63 | 1.53 | | 12/2007 | 118.91 | 18.29 | 1.49 | | 12/2008 | 115.60 | -5.23 | -0.44 | | Growth Rates | 11.22 | -- | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 12/31/09 | 39 | 6,516 | 51.56 |
|
Report Date :
2/8/2010
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