Professional Documents
Culture Documents
Summary
MMDC DYOD
Initial expenditure
expnsed (p.5, para
Upfront marketing 1, line 1) 625
SGAE Exhibit 1 1,155 1,735 2,102 2,270 2,452
Total operating expenses Summation 1,250 3,917 5,866 7,132 7,689 8,304
Current assets
Cash 135 206 252 272 294
Accounts receivables days 723 1,101 1,350 1,458 1,575
Inventory 359 498 396 427 461
Total current assets 1,216 1,805 1,998 2,157 2,330
Accounts payables 331 497 606 653 705
Net working capital 886 1,308 1,393 1,504 1,624
Increase in NWC - 886 422 85 112 120
1470 800
Total
Assumptions about
working capital
Minimum cash balance as
% sales 3.0% 3.0% 3.0% 3.0%
Days sales outstanding 59.2 59.2 59.2 59.2
Inventory turnover 12.2 12.3 12.6 12.7
Current assets
Cash - 180 431 606 643
Accounts receivables - 973 2,329 3,279 3,476
Inventory 345 784 1,068 1,131
Total current assets - 1,498 3,544 4,953 5,250
Accounts payables - 503 1,164 1,625 1,733
Net working capital - 1,000 995 2,380 3,328 3,517
Increase in NWC - 1,000 (5) 1,385 948 189
- - - - -
Total
Initial expenditure
expnsed (p.5, para
Upfront marketing 1, line 1) 625
SGAE Exhibit 1 1,155 1,735 2,102 2,270 2,452
Total operating expenses Summation 1,250 3,917 5,866 7,132 7,689 8,304
Current assets
Cash 135 206 252 272 294
Accounts receivables days 730 1,112 1,364 1,473 1,591
Inventory 359 498 396 427 461
Total current assets 1,224 1,816 2,012 2,172 2,346
Accounts payables 331 497 606 653 705
Net working capital 893 1,319 1,406 1,519 1,640
Increase in NWC - 893 426 87 113 121
1470 800
Total
Assumptions about
working capital
Minimum cash balance as
% sales 3.0% 3.0% 3.0% 3.0%
Days sales outstanding 59.2 59.2 59.2 59.2
Inventory turnover 12.2 12.3 12.6 12.7
Current assets
Cash - 180 431 606 643
Accounts receivables - 973 2,329 3,279 3,476
Inventory 345 784 1,068 1,131
Total current assets - 1,498 3,544 4,953 5,250
Accounts payables - 503 1,164 1,625 1,733
Net working capital - 1,000 995 2,380 3,328 3,517
Increase in NWC - 1,000 (5) 1,385 948 189
- - - - -
Total
FCF Comparison
2000
1000
0
1 2 3 4 5 6 7 8
-1000
-2000
-3000
-4000
-5000
-6000
735 794 857
1281 1358 1439
547 564 582
Comparison
6 7 8 9 10 11 MMDC
DYOD
US Toy and Game Industry
2008 2009
Growth Rate 0.046
Revenues $42,000,000,000 $43,932,000,000
Segments: Share:
Video Games 0.48 $20,160,000,000 $21,087,360,000
Traditional Toys and Games 0.52 $21,840,000,000 $22,844,640,000
1 $42,000,000,000 $43,932,000,000
CD 0 0
Categories:
Large
Soft
Mini Dolls
Doll Clothing
Other Accessories
2012 2013
0.03 0.03
$3,489,077,311 $3,593,749,630
2009
Overall: Capital Budget:
No. of Employees 450 EBITDA 0.15
Revenue $245,000,000
Operating Profit $27,000,000 0.11
Retailing Division:
Revenue $190,000,000
Operating Profit $4,800,000 0.03
Licensing Division:
Revenue $24,500,000
Operating Profit $14,500,000 0.59
Production Division:
Revenue $30,500,000
Operating Profit $7,700,000 0.25
0.87
Risk-Wise Discount Rates
Low 0.077
Medium 0.084
High 0.09
Production Division
New Heritage Private Label
Total
Dolls Accessories Dolls Accessories
Revenue $80,000,000 $14,000,000 $26,000,000 $5,000,000 $125,000,000
Operating Income $4,400,000 $500,000 $2,300,000 $300,000 $7,500,000
Products:
MMDC
Property, Plant and Equipment: Intial Expenditues
Useful Life 10 Years Upfront R&D
Depreciation Method MACRS Upfront Marketing
Investment in Working Capital
Property, Plant & Equipment
TOTAL
DYOD
Development Time 12 Months Intial Expenditues
Upfront R&D
Application Development Personnel Costs: Upfront Marketing
Web App Developers 150,000 Investment in Working Capital
Database Manager 160,000 Property, Plant & Equipment
Systems Integration Specialist 125,000 TOTAL
TOTAL 435,000
2010
$625,000
$625,000
$800,000
$1,470,000
$3,520,000
2010 2011
$841,000
$360,000
$1,000,000
$4,610,000
$5,811,000 $1,000,000
DDOD