TEXTUAL SUMMARY REPORT
First-Year Financial Report
Three-Year Financial Report
 
   
  Date prepared: 31-Dec-03  
   
  The following three operational & financial reports for ANY CORP INC cover  
  the months and years commencing in Feb 2005. They have been derived  
  from the detailed assumptions in Exl-Plan's Monthly, Quarterly and Annual  
  Reports.  
                 
   
  1.  FIRST-YEAR OPERATIONAL  REPORT - ANY CORP INC  
   
  This First-Year Operational Report covers the twelve months to end Jan 2006  
  based on detailed monthly projections and assumptions. The  
  following table summarizes quarterly sales projections for this year:  
   
                                      Quarter Ends in Year to Jan 2006   Annual  
  Sales 1 Qtr 2 Qtr 3 Qtr 4 Qtr Total  
    $000 $000 $000 $000 $000  
  Product Group:    
   Group 1 52.5 57.0 61.5 66.0 237.0  
   Group 2 15.8 18.2 21.1 24.5 79.6  
   Group 3    
   Group 4    
   Group 5    
  Total sales 68.3 75.2 82.6 90.5 316.6  
  % Quarterly changes NA 10.2 9.8 9.5    
   
 
 
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  Projected inventory levels for the four quarters are as follows:  
   
    Opening              Quarter Ends in Year to Jan 2006  
  Inventories Levels  1st 2nd 3rd 4th  
    $000 $000 $000 $000 $000  
       
  Materials/goods 10.0 10.0 10.0 10.0 10.0  
   
  The projected average materials/goods cost percentages for the four quarters are  
  as follows:  
   
  Materials/Goods                  Quarterly Averages for Year to Jan 2006 Annual  
  Costs  1st 2nd 3rd 4th Averages  
    % Sales % Sales % Sales % Sales % Sales  
       
  Materials/goods costs 41.0 41.0 41.0 41.0 41.0  
   
  The projected headcounts at quarter ends are as follows:  
   
                   Quarter Ends in Year to Jan 2006  
  Headcount    1st 2nd 3rd 4th  
    Nos Nos Nos Nos  
  Direct 1 2 2 2  
  Clerical 1 1 1 1  
  Management   1 1 1 1  
  Total headcount   3 4 4 4  
   
  Direct costs and overhead expenses are summarized below.  
   
        Quarters in Year to Jan 2006 Annual  
  Cost  Analysis    1st 2nd 3rd 4th Total  
    $000 $000 $000 $000 $000  
       
  Materials/packaging/goods 28.0 30.9 33.9 37.1 129.8  
  Direct labor 2.6 3.9 5.2 5.2 16.9  
  Other direct 9.3 10.2 11.1 12.0 42.6  
  Total Cost of sales 39.9 44.9 50.2 54.3 189.3  
  Selling 2.9 3.0 3.2 3.3 12.3  
  Management/admin staff 8.3 8.3 8.3 8.3 33.0  
  General 7.8 7.8 7.8 7.8 31.2  
  Total overhead expenses 18.9 19.1 19.2 19.4 76.5  
  Total direct costs & expenses 58.8 64.0 69.4 73.6 265.8  
   
 
 
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  Proposed capital expenditure is summarized in the next table.  
   
        Quarters in Year to Jan 2006 Annual  
  Capital Expenditure    1st 2nd 3rd 4th Total  
    $000 $000 $000 $000 $000  
       
  Capital expenditure       30.0   30.0  
   
  Changes in longterm debt are summarized below.  
   
        Quarters in Year to Jan 2006 Annual  
  Longterm Debt    1st 2nd 3rd 4th Total  
    $000 $000 $000 $000 $000  
       
  Increase in longterm debt/notes 10.0 10.0  
  Longterm debt/note repayments 5.0 5.0 5.0 5.0 20.0  
  Net changes in longterm debt/notes 5.0 (5.0) (5.0) (5.0) (10.0)  
   
  Other significant transactions during the year include the following:  
   
        Quarters in Year to Jan 2006 Annual  
  Other Transactions    1st 2nd 3rd 4th Total  
    $000 $000 $000 $000 $000  
       
  Proceeds of share issues 5.0 5.0  
       
  Proceeds of fixed asset sales 6.0 6.0  
       
  Dividends declared              
   
   
  2.  FIRST-YEAR FINANCIAL  REPORT - ANY CORP INC
Top
 
   
  This First-Year Financial Report covers the twelve months to end Jan 2006  
  based on detailed monthly projections and assumptions.  
   
 
 
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  Based on projected sales of $317 000, ANY CORP INC  
  expects to report a pretax profit of $29 000 for the year.  
   
  The following table analyses these projections:  
   
  Year to end Jan 2006   $000 % Sales  
  Sales 316.6 100  
  Cost of sales 189.3 60  
  Gross Margin 127.3 40  
  Overhead expenses:    
   -Selling 12.3 4  
   -Management/admin staff 33.0 10  
   -General 31.2 10  
  Depreciation 2.3 1  
  Operating lease payments 13.2 4  
  Total operating expenses 92.1 29  
  Income from operations 35.2 11  
  Other income/expenses:    
   -Profit (loss) disposal of fixed assets 2.0 1  
   -Intangible asset amortization 12.0 4  
   -Miscellaneous income 12.0 4  
  Total other income (expenses) 2.0 1  
  Earnings before interest & taxes 37.2 12  
  Interest expense/income:    
   -Interest expense 8.1 3  
   -Interest income 0.1 0  
  Net interest expense (income) 8.0 3  
  Net income before taxes 29.2 9  
   
  Based on detailed monthly projections, the net cash OUTFLOW  
  for the twelve months will be $21 000. The projected year-end bank  
  position will be a $43 000 short-term loan (line of credit) requirement.  
   
  The next table compares the projected results with those for   
  the previous year which ended in Jan 2005.  
   
  Years ending:     Jan 2005   Jan 2006  Change  
    $000 $000 %  
       
  Sales 165.0 316.6 92  
  Cost of sales 125.0 189.3 51  
  Gross margin 40.0 127.3 218  
  Total operating expenses 78.0 92.1 18  
  Income from operations (38.0) 35.2    
  Other income, interest expense etc. 5.4 (6.0)    
  Net income before taxes (32.6) 29.2    
  Taxes 2.0    
  Net income (32.6) 27.1    
  Dividends declared    
  Transferred to reserves   (32.6) 27.1    
   
  This indicates that sales could increase by $152 000 while  
  net income could improve by $62 000 over the year.  
   
  The following table summarizes cashflows for the year by quarter.  
   
        Quarters in Year to Jan 2006 Annual  
  Cashflows    1st 2nd 3rd 4th Total  
    $000 $000 $000 $000 $000  
       
  Total cash receipts 102.6 77.9 86.6 94.7 361.9  
  Total cash payments 105.0 79.0 112.0 87.3 383.3  
  Net cashflow (2.4) (1.1) (25.4) 7.4 (21.5)  
       
  Closing cash balance (deficit) (24.4) (25.5) (50.9) (43.5)    
 
 
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  The following key assumptions regarding rates etc. were used  
  in compiling the projections for the year to end Jan 2006.  
   
  Items   Value Basis  
  Headcount:    
    Direct workers 1.6   Avg monthly numbers  
    All other staff 2.0   Avg monthly numbers  
  Depreciation 3.0   Annual % rates  
  Interest rates (% pa):    
    Cash at bank 4.0   Monthly average  
    Short-term loans/line of credit 13.5   Monthly average  
    Longterm debt/notes 12.5   Monthly average  
  Working capital:    
    Accounts receivable (days sales) 45   Based on full-yr sales  
    Inventory (days sales) 12   Based on full-yr sales  
    Accounts payable (days costs & exs) 22   Based on full-yr costs  
   
  The following key ratios have been derived from the 12-month  
  projections for the year ending Jan 2006:  
   
      Max/Min   Full Year  
  Ratios   Monthly   or Year End  
       
  Profitability:    
    Gross margin (% sales) 41.7 Max Value 40.2  
    Net income before taxes (% sales) 15.0 Max Value 9.2  
       
  Current asset ratio (times) 0.7 Min Value 0.9  
       
  Debt/equity (%) 330 Max Value 127  
       
  Sales/total assets (times) 2.3  
  Net income before taxes/total assets (%) 21.3  
  Projected sales as % breakeven     138  
   
  This table indicates that the following financial indicators  
  derived from the detailed projections, may be out-of-line with  
  generally-accepted norms:  
      * Current asset ratio may be too low  
      * Debt/equity ratio may be too high  
   
   
   
  3.  THREE-YEAR FINANCIAL REPORT - ANY CORP INC
Top
 
   
  This Financial Report covers the three years to the end of Jan 2008. It has  
  been based on detailed monthly projections for the first year and   
  quarterly projections for the following years.  
   
  The following table summarizes the projected trading performance:  
   
  Years to end Jan 04-05 05-06 06-07 07-08  
    Act/Est Proj Proj Proj  
    $000 $000 $000 $000  
       
  Sales 165 317 386 538  
  Cost of sales 125 189 226 304  
  Gross margin 40 127 160 234  
  Total operating expenses 78 92 116 165  
  Income from operations (38) 35 45 70  
  Other income, interest expense etc. 5 (6) 41 43  
  Net income before taxes (33) 29 85 112  
  Taxes 2 6 9  
  Net income (33) 27 79 103  
  Dividends declared 10 25  
  Transferred to reserves (33) 27 69 78  
   
  For the three years under review, sales should change by 226%  
  and projected net income before taxes for the third year is $112 000.  
   
 
 
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  The projected cashflows for ANY CORP INC during the years  
  under review are summarized below:  
   
  Years to end Jan 05-06 06-07 07-08  
    Proj Proj Proj  
    $000 $000 $000  
  Net cashflows from:    
      Operations 17 85 97  
      Investing activities (33) (35) 10  
      Financing (5) (25)  
  Increase (decr) cash (21) 50 82  
   
  The projected cumulative net cash inflow over the three years is  
  $110 000.  
 
 
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  The next table shows the projected balance sheets.  
   
  Years to end Jan 04-05 05-06 06-07 07-08  
    Act/Est Proj Proj Proj  
    $000 $000 $000 $000  
  ASSETS    
  Current assets:    
    Cash 2 7 88  
    Other 60 62 74 104  
  Total Current Assets 62 62 81 192  
       
  Fixed & intang assets 64 76 109 94  
       
  Total assets 126 137 190 286  
       
  LIABILITIES    
  Current liabilities:    
    Short-term loans/credit 24 43    
    Other 74 29 41 58  
  Total Current Liabilities 98 72 41 58  
       
  Total longterm liabilities 10 15    
       
  Total owners' equity 18 50 149 228  
       
  Total liabilities 126 137 190 286  
   
  The projected change in owners' equity is $210 000 and the  
  expected closing net cash position is $88 000.  
   
  The overall projected performance of ANY CORP INC for the years   
  under review is assessed in the following table:  
   
  Years to end Jan   05-06 06-07 07-08  
      Proj Proj Proj  
       
  Gross margin (% sales) 40.2 41.5 43.5  
  Net income before taxes (% sales) 9.2 22.1 20.9  
  Sales as % breakeven 138 139 142  
       
  Net income before taxes/total assets (%) 21.3 44.9 39.3  
  Sales/total assets (times) 2.3 2.0 1.9  
  Net debt as percent    
    owners' equity (Max=200%) 127    
       
  Net assets per share ($) 0.49 1.21 1.85  
  Earnings per share ($) 0.27 0.70 0.84  
  Dividend per share ($)     0.08 0.20  
   
  This table indicates that the following financial ratios may be   
  out-of-line with generally accepted norms for one or more years:  
   
      * Net debt as % of owners' equity may be too high