Income statement 2006 2007 2008 2009 2010

Sales 15015500 26130560 39403320 58532340 71511720

Cost of goods sold 10434500 18595530 28323060 42565660 53000150
Gross profit 4581000 7535030 11080260 15966680 18511570
Operating costs
Selling and distribution 1650340 2450630 3763400 5400350 6001230

R&D 145340 453640 765340 1580340 1900450

Administration 550340 1050750 1950600 3400000 4080520

Amortization 574944 908884 1880284 2999199 3838790

Operating profit 1660036 2671126 2720636 2586791 2690580

Interest expense 224139 392759 952308 1653235 2301176

Earnings before taxes 1435897 2278367 1768328 933556 389404
Taxes 502564 797429 618915 326744 136291
Net income 933333 1480939 1149413 606811 253112

Gross Profit Margin 6.2157970098 5.6674598631 2.9170460763 1.0367106458 0.35394478

Average Asset turnover ration 1.7775961898 1.5427958815 1.4174 1.26395

Return on Avg Equity 24.491019355 13.745602674 5.9257998427 2.2659748803

Inventory turnover ratio 7.95 7.453 7.523 6.595

 Balance sheet 2006 2007 2008
Cash 400840 790670 1034690
A/R 2459600 4340540 6450340
RM inventory 675340 1103400 1789340
WIP inventory 874230 1440530 1950340
Finished goods inventory 802160 1674293 2614583
Total current assets 5212170 9349433 13839293
L, P & E, net 5504440 8756340 18345340
Intangibles 245000 332500 457500
Total assets 10961610 18438273 32642133
A/P 1760340 4009870 6498227
Current portion of long- term
399534 649188 1518833
debt
Total current
2159874 4659058 8017060
liabilities
Long-term debt 3995340 6491880 15188326
Shareholders’ equity 4806396 7287335 9436748
Total liabilities and equities 10961610 18438273 32642133

14699941.5
9.08% 25540203
2009 2010
823580 765340
9950340 11550420
2450340 3240340
2340680 2489390
4413753 6751713
19978693 24797203
29453350 37689560
538640 698340
49970683 63185103
9922996 12885442
2636739 3545726

12559735 16431168
26367389 35457263
11043559 11296671
49970683 63185103
Current ratio 3.17
Quick ratio 0.16
RM turnover in days 33.86 days
WIP turnover in days 9.69 days
Finished goods turnover in days 96.54 days
A/R turnover in days 30.44 days
A/P turnover in days 59.47 days
Cash conversion cycle 111.06 days
Fixed assets turnover 2.19
Total assets turnover 1

Long-term debt to total assets

0.32
Cash flow coverage 2.06
Gross profit margin 42.00%
Operating profit margin 15.55%
Net profit margin 9.08%
Return on assets 5.90%
Return on equity 14.71%
Profitbilty ratio 2006
Net profit margin 0.305084746