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    Exhibits of Blaine Kitchenware, Inc - Case

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    Sadam Lashari
    This document contains financial statements and operating data for Baine Kitchenware Inc. for the years 2004-2006. It shows the company's income statements, balance sheets, selected financial ratios and operating data compared to competitors. Key information includes annual revenue increasing from $291 million to $342 million from 2004-2006. Net income also increased each year from $53 million to $53.6 million. Total assets grew from $497 million to $592 million over this period.

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    Exhibits of Blaine Kitchenware, Inc - Case

    Uploaded by

    Sadam Lashari
    2K views6 pages
    This document contains financial statements and operating data for Baine Kitchenware Inc. for the years 2004-2006. It shows the company's income statements, balance sheets, selected financial ratios and operating data compared to competitors. Key information includes annual revenue increasing from $291 million to $342 million from 2004-2006. Net income also increased each year from $53 million to $53.6 million. Total assets grew from $497 million to $592 million over this period.

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    case analysis of blain kitchen ware

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    Exhibits of Blaine Kitchenware, Inc.case

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    This document contains financial statements and operating data for Baine Kitchenware Inc. for the years 2004-2006. It shows the company's income statements, balance sheets, selected financial ratios and operating data compared to competitors. Key information includes annual revenue increasing from $291 million to $342 million from 2004-2006. Net income also increased each year from $53 million to $53.6 million. Total assets grew from $497 million to $592 million over this period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    2K views6 pages

    Exhibits of Blaine Kitchenware, Inc - Case

    Uploaded by

    Sadam Lashari
    This document contains financial statements and operating data for Baine Kitchenware Inc. for the years 2004-2006. It shows the company's income statements, balance sheets, selected financial ratios and operating data compared to competitors. Key information includes annual revenue increasing from $291 million to $342 million from 2004-2006. Net income also increased each year from $53 million to $53.6 million. Total assets grew from $497 million to $592 million over this period.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    You are on page 1of 6

    4/28/2013, 142331626.xls.

    ms_office, Exhibit 1
    Exhibit 1.Baine kitchenware, Inc., Income Statements, years ended December 31, ($ in Thousands)

    Operating Results
    Revenue
    Less: Cost of Goods Sold

    2004

    2005

    2006

    $291,940
    204,265

    $307,964
    220,234

    $342,251
    249,794

    Gross Profit
    Less: Selling, General & Administrative

    87,675
    25,293

    87,730
    27,049

    92,457
    28,512

    Operating Income
    Plus: Depreciation & Amortization

    62,382
    6,987

    60,681
    8,213

    63,945
    9,914

    EBITDA

    69,369

    68,894

    73,859

    EBIT
    Plus: other Income (expense)

    62,382
    15,719

    60,681
    16,057

    63,945
    13,506

    Earnings Before Tax


    Less: Taxes

    78,101
    24,989

    76,738
    24,303

    77,451
    23,821

    53,112
    $18,589

    52,435
    $22,871

    53,630
    $28,345

    Net Income
    Dividends

    4/28/2013, 142331626.xls.ms_office, Exhibit 2


    Exhibit 2.Baine kitchenware, Inc., Balance Sheets, December 31, ($ in Thousands)

    Exhibit 2. Baine kitchenware, Inc., Balance Sheets, December 31, ($ in Thousands)


    Assets
    Cash & Cash Equivalents
    Marketable Securities
    Account Receivable
    Inventory
    Other Current Assets
    Total Current Assets

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

    2005
    $70,853
    196,763
    43,235
    49,728
    3,871
    364,450

    2006
    $66,557
    164,309
    48,780
    54,874
    5,157
    339,677

    Property, Plant & Equipment


    Good will
    Other Assets
    Total Assets

    99,402
    8,134
    13,331
    $497,218

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

    174,321
    38,281
    39,973
    $592,252

    Liabilities & Shareholders' Equity


    Accounts Payable
    $26,106
    $28,589
    $31,936
    Accrued Liabilities
    22,605
    24,921
    27,761
    Tax Payable
    14,225
    17,196
    16,884
    Total Current Liabilities
    62,936
    70,706
    76,581
    Other liabilities
    1,794
    3,151
    4,814
    Deferred Taxes
    15,111
    18,434
    22,495
    Total Liabilities
    79,841
    92,291
    103,890
    Shareholders' Equity
    417,377
    458,538
    488,363
    Total Liabilities & Shareholders' Equity
    $497,218
    $550,829
    $592,253
    Note: Many items in BKI's historical balance sheets (e.g.,, Property, Plant & Equipment) have been affected by the firm's acquisitions.
    a.
    Source: Case Work (All Rights Reserved) .

    4/28/2013, 142331626.xls.ms_office, Exhibit 3


    Exhibit 3. Selected Operating and Financial Data for Public Kitchenware Products, 12 months ended December 31, 2006, ($ in Thousands)

    Exhibit 3. Selected Operating and Financial Data for Public Kitchenware Products, 12 months ended December 31, 2006 ($ in Thousands)
    Home &
    Auto Tech
    Easy Living
    Blaine
    Hearth Design
    Appliances
    XQL Corp. Bunkerhill, Inc.
    Systems
    Kitchenware
    Revenues
    $589,747
    $18,080,000
    $4,313,300
    $3,671,100
    $188,955
    $342,251
    EBIT
    106,763
    2,505,200
    721,297
    566,099
    19,613
    63,946
    EBITDA
    119,190
    3,055,200
    796,497
    610,399
    23,356
    73,860
    Net Income
    $53,698
    $1,416,012
    $412,307
    $335,073
    $13,173
    $53,630
    Cash & securities
    a
    Net working capital
    Net fixed assets
    Total Assets

    $21,495

    $536,099

    $21,425

    $153,680

    $242,102

    $230,866

    54,316
    900,803
    $976,614

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

    353,691
    3,322,837
    $3,697,953

    334,804
    815,304
    $1,303,788

    21,220
    68,788
    $332,110

    32,231
    174,321
    $592,253

    $350,798
    372,293
    475,377

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

    $950,802
    972,227
    2,109,400

    $238,056
    391,736
    804,400

    ($64,800)

    ($230,866)

    177,302
    94,919

    0
    488,363

    776,427
    $1,127,225

    13,978,375
    $18,415,689

    5,290,145
    $6,240,947

    3,962,780
    $4,200,836

    418,749
    $353,949

    959,596
    $728,730

    1.03

    1.24

    0.96

    0.92

    0.67

    0.56

    1.91
    10.56
    9.46
    1.63

    1.02
    7.35
    6.03
    4.26

    1.45
    8.65
    7.84
    2.51

    1.14
    7.42
    6.88
    4.93

    1.87
    18.05
    15.15
    4.41

    2.13
    11.40
    9.87
    1.96

    45.18%
    31.12%

    31.74%
    24.10%

    17.97%
    15.23%

    6.01%
    5.67%

    -15.47%
    -18.31%

    -24.06%
    -31.68%

    Net debtb
    Total debt
    Book equity
    Market capitalization
    Enterprise value (MVIC)
    Equity beta
    LTM Trading Multiples
    MVIC/Revenue
    MVIC/EBIT
    MVIC/EBITDA
    Market/Book equity
    Net Debt/Equity
    Net Debt/ Enterprise Value
    a.
    Net working capital excludes cash and securities
    b.

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

    c.

    Source: Case Work (All Rights Reserved) .

    4/28/2013, 142331626.xls.ms_office, Exhibit 4


    Exhibit 4. Cotemporaneous Capital Market Data )April 21, 2007)

    Exhibit 4. Contemporaneous Capital Market Data (April 21, 2007)


    Yields on U.S. Treasury Securities
    Maturity
    30 days
    60 days
    90 days
    1 year
    5 years
    10 years
    20 years
    30 years
    Seasoned corporate bond yields
    Moody's Aaa
    Aa
    A
    Baa
    Ba
    B
    a.
    Source: Case Work (All Rights Reserved) .

    4.55%
    4.73%
    4.91%
    4.90%
    4.91%
    5.02%
    5.26%
    5.10%

    5.88%
    6.04%
    6.35%
    6.72%
    7.88%
    8.94%

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

    shareoutstanding
    stock price per share
    EBIT
    Interest Exp
    interest rate (assume 6.35%)
    Earning before tax
    Tax Exp.
    tax rate
    NI
    total asset
    total Liab
    issuance of long-term debt
    total equity
    Divident payout ratio (d)
    plowback rate (1-d)
    Dividends
    ROA
    ROE
    D/E ratio
    EPS
    DPS
    interest coverage ratio=EBIT/Int Exp
    P/E ratio
    internal growth rate
    Sustainable growth rate

    2004
    41,309

    2005
    48,970

    2006
    59,052

    62,382
    -

    60,681
    -

    63,945
    -

    78,101
    24,989

    76,738
    24,303

    77,451
    23,821

    53,112

    52,435

    53,630

    497,218
    79,841

    550,829
    92,291

    592,252
    103,890

    417,377
    35%
    65%
    18,589

    458,538
    44%
    56%
    22,871

    488,363
    53%
    47%
    28,345

    11%
    12.7%
    0.19
    1.29
    0.45
    0

    10%
    11.4%
    0.20
    1.07
    0.47
    0

    7.5%
    9%

    5.7%
    7%

    9.1%
    11.0%
    0.21
    0.91
    0.48
    0
    17.89
    4.5%
    5%

    post-leverage
    39,667
    $

    16.25
    63,945
    6,350
    6.35%
    57,595
    23,038
    40%
    34,557
    377,252
    203,890
    100,000
    173,362

    9.2%
    19.9%
    1.18
    0.87
    10.07
    18.65

    change
    ($19,385) buy back $315M

    ($19,073)
    ($215,000) cash decreased by $215M
    $100,000
    long-term debt increased by $100M
    ($315,001)

    0.1%
    9.0%
    $0.96
    ($0.04)

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