LOUD Technologies Inc. Financial Ratios — LTEC Stock

Profitability (USD)

	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Return on Common Equity (%)	- -	148.76	97.37	39.15	16.89	6.53	11.21	-9.28	-103.6	-231.8	-110.36	60.56	- -	- -
Return on Assets (%)	- -	34.95	17.58	11.03	6.5	2.75	4.35	-3.34	-27.29	-25	-4.12	4.81	0.62	-10.1
Return on Capital (%)	- -	140.62	97.37	39.15	10.59	3.68	5.76	- -	- -	- -	- -	8.35	1.43	- -
Return on Invested Capital (%)	- -	40.89	17.64	11.13	8.79	4.98	8.36	- -	- -	- -	- -	18	9.53	- -
Gross Margin (%)	44.89	44.13	40.98	41.47	41.27	38.77	38.66	29.81	24.83	22.41	33.54	31.97	33.23	28.8
EBITDA Margin (%)	24.05	22.85	16.67	13.73	12.57	9.34	10.77	3.45	-11.71	-5.43	3.74	6.89	7.29	5.15
Operating Margin (%)	23.05	21.13	13.93	9.47	8.06	5.25	7.22	-0.68	-16.62	-10.77	1.06	4.16	4.83	1.28
Incremental Operating Margin (%)	- -	14.29	-35.48	-172.22	4.45	-0.38	13.23	- -	- -	- -	-205.41	8.89	17.53	113.97
Pretax Margin (%)	23.05	21.28	15.16	10.53	7.58	3.9	5.04	-3.36	-17.99	-12.67	-1.85	0.48	0.49	-6.25
Profit Margin (%)	15.23	14.08	10.11	7.33	5.37	2.11	3	-2.58	-20.17	-16.67	-1.86	1.84	0.29	-6.04
Net Income to Common Margin (%)	15.23	14.08	10.11	7.33	5.37	2.11	3	-2.58	-20.17	-16.67	-1.86	1.84	0.29	-6.04
Effective Tax Rate (%)	33.91	33.82	33.33	30.38	29.11	45.9	40.52	- -	- -	- -	- -	4.81	40.81	- -
Dvd Payout Ratio (%)	75	110	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	-14.88	97.37	39.15	16.89	6.53	11.21	-9.28	-103.6	-231.8	-110.36	60.56	- -	- -

Credit (USD)

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	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Total Debt	1	- -	- -	- -	39	39	66	59	67	25	24	54	56	102
ST Debt	- -	- -	- -	- -	20	23	36	39	47	8	12	13	16	9
LT Debt	- -	- -	- -	- -	19	16	30	19	20	16	12	41	40	92
Total Debt/EBITDA	0.06	- -	- -	- -	3.01	2.65	2.97	8.24	-3.06	-3.47	5.15	3.82	3.56	9.49
Net Debt/EBITDA	0.03	-0.27	-0.2	-0.1	3	2.34	2.79	7.95	-2.92	-3.36	5.05	3.79	3.54	9.15
Total Debt/EBIT	0.06	- -	- -	- -	4.69	4.72	4.43	-41.91	-2.16	-1.75	18.18	6.33	5.37	38.25
Net Debt/EBIT	0.03	-0.29	-0.24	-0.14	4.68	4.16	4.17	-40.41	-2.06	-1.7	17.83	6.27	5.34	36.9
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	60.29	10.29	24.41	31.46	41.63	42.6	36.08	35.88	14.5	1.65	5.46	9.51	-29.38	-30.41
Long-Term Debt/Equity (%)	4.88	- -	- -	- -	38.31	31.21	51.88	36.74	117.58	1,954.57	349.76	450.58	392.99	- -
Long-Term Debt/Capital (%)	4.49	- -	- -	- -	21.35	17.41	23.81	17.03	23.75	63.87	42.92	65.06	162.11	159.2
Long-Term Debt/Total Assets (%)	2.94	- -	- -	- -	15.98	12.99	18.14	12.6	16.35	32.25	19.1	42.85	37.92	64.33
Total Debt/Equity (%)	8.54	- -	- -	- -	79.44	76.94	114.72	111.1	390.83	2,960.34	715	592.55	546.94	-5,921.72
Total Debt/Capital (%)	7.87	- -	- -	- -	44.27	42.9	52.65	51.5	78.94	96.73	87.73	85.56	225.62	175.26
Total Debt/Total Assets (%)	5.15	- -	- -	- -	33.14	32.01	40.12	38.11	54.35	48.85	39.05	56.36	52.78	70.82
Net Debt to Equity	4.88	-11.21	-5.67	-2.15	79.23	67.79	108.08	107.13	373.07	2,869.35	701.45	587.4	543.89	-5,712.7
Net Debt/Capital (%)	4.65	- -	-26.97	-6.33	44.21	39.84	51.16	50.59	78.15	96.63	87.52	85.45	227.21	180.22
EBITDA	12	15	12	10	13	15	22	7	-22	-7	5	14	16	11
EBITDA-CapEx	10	10	5	7	8	12	16	-2	-27	-9	3	12	13	8
Operating Income (Loss)	12	14	10	7	8	8	15	-1	-31	-14	1	9	10	3

Liquidity (USD)

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	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Cash Ratio	0.06	1.26	0.67	0.16	0.14	0.22	0.06	0.03	0.04	0.02	0.01	0.01	0.01	0.07
Current Ratio	2.4	10.71	9.89	6.81	1.8	1.75	1.61	1.32	1.19	1.08	1.05	1.64	1.5	1.81
Quick Ratio	1.44	4.39	3.36	1.87	0.83	0.86	0.63	0.52	0.46	0.44	0.38	0.67	0.48	0.6
CFO/Avg Current Liab	- -	1.58	2.06	0.53	0.06	0.12	-0.09	0.22	0.04	0.21	-0.03	0.23	0.01	- -
Common Equity/Total Assets	60.29	10.29	24.41	31.46	41.63	42.6	36.08	35.88	14.5	1.65	5.46	9.51	-29.38	-30.41
Long-Term Debt/Equity (%)	4.88	- -	- -	- -	38.31	31.21	51.88	36.74	117.58	1,954.57	349.76	450.58	392.99	- -
Long-Term Debt/Capital (%)	4.49	- -	- -	- -	21.35	17.41	23.81	17.03	23.75	63.87	42.92	65.06	162.11	159.2
Long-Term Debt/Total Assets (%)	2.94	- -	- -	- -	15.98	12.99	18.14	12.6	16.35	32.25	19.1	42.85	37.92	64.33
Total Debt/Equity (%)	8.54	- -	- -	- -	79.44	76.94	114.72	111.1	390.83	2,960.34	715	592.55	546.94	-5,921.72
Total Debt/Capital (%)	7.87	- -	- -	- -	44.27	42.9	52.65	51.5	78.94	96.73	87.73	85.56	225.62	175.26
Total Debt/Total Assets (%)	5.15	- -	- -	- -	33.14	32.01	40.12	38.11	54.35	48.85	39.05	56.36	52.78	70.82
CFO/Total Liabilities	112.96	206.45	172.5	37.68	2.16	7.93	-4.92	15.89	3.06	24.53	-2.14	11.6	0.29	0.18
CFO/CapEx	4.07	1.56	0.91	0.74	0.28	1.81	-0.8	1.79	0.72	6.14	-0.6	5.81	0.11	0.11
Altman's Z-Score	7.92	8.74	5.97	4.48	1.99	2.43	2.57	2.15	0.75	1.01	1.54	2.83	2.68	2.14

Working Capital (USD)

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	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	9.86	5.86	5.57	5.67	5.82	8.09	9.08	7.9	8.1
Days Sales Outstanding	- -	- -	- -	- -	- -	37.01	62.26	65.54	64.38	62.67	45.13	40.21	46.22	45.07
Inventory Turnover	- -	6.32	4.83	3.12	2.13	2.41	2.47	2.52	2.78	2.94	3.49	4.13	3.05	2.66
Days Inventory Outstanding	- -	57.77	75.62	116.82	171.47	151.42	147.94	144.74	131.3	124.29	104.45	88.29	119.65	137.43
Accounts Payable Turnover	- -	25.55	25.5	17.42	9.13	6.28	7.95	5.94	6.21	4.58	6.98	8.89	8.13	6.15
Accounts Payable Turnover Days	- -	14.29	14.31	20.95	39.97	58.16	45.93	61.43	58.79	79.61	52.32	41.05	44.91	59.35
Cash Conversion Cycle	- -	43.48	61.31	95.87	131.5	130.27	164.28	148.86	136.88	107.36	97.26	87.46	120.96	123.15
Inventory to Cash Days	- -	-57.77	-75.62	-116.82	-171.47	-114.4	-85.68	-79.2	-66.92	-61.61	-59.32	-48.08	-73.43	-92.35
Inventories	4	8	10	18	40	40	63	52	50	19	28	39	55	57
Raw Materials	- -	- -	- -	- -	- -	- -	- -	18	22	4	4	6	6	8
Work In Process	- -	- -	- -	- -	- -	- -	- -	4	3	1	1	1	1	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	30	25	14	23	33	48	49
Other Inventory	4	8	10	18	40	40	63	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Market Capitalization	- -	25	17	16	16	13	13	10	3	8	9	15	14	7
- Cash & Cash Equivalents	- -	4	2	1	- -	5	4	2	3	1	- -	- -	- -	4
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1	- -	- -	- -	39	39	66	59	67	25	24	54	56	102
Enterprise Value	- -	21	14	15	49	41	75	67	68	32	32	69	70	105
Total Capital	9	4	11	17	89	90	126	114	85	25	27	63	25	58
Total Debt/Capital (%)	7.87	- -	- -	- -	44.27	42.9	52.65	51.5	78.94	96.73	87.73	85.56	225.62	175.26
Total Debt / EV	1.75	- -	- -	- -	0.8	0.95	0.89	0.88	0.99	0.77	0.74	0.78	0.8	0.97
EV/Sales	0.01	0.33	0.19	0.2	0.47	0.26	0.36	0.32	0.36	0.24	0.26	0.34	0.33	0.5
EV/EBITDA	0.03	1.42	1.16	1.46	3.74	2.78	3.34	9.36	- -	- -	6.95	4.87	4.47	9.77
EV/EBIT	0.03	1.54	1.39	2.11	5.83	4.95	4.99	- -	- -	- -	24.54	8.06	6.74	39.38
EV/Cash Flow to Firm	0.07	3.25	2.06	5.76	32.67	7.25	- -	4.14	20.78	2.62	- -	6.84	254.45	407.33
EV/Free Cash Flow to Firm	0.05	1.98	0.98	2.46	7.21	4.67	56.63	2.66	8.69	2.25	38.9	5.84	25.71	39.08
Diluted Market Cap	- -	28	17	17	16	13	13	10	3	8	9	16	15	7
Diluted Enterprise Value	- -	24	15	16	56	47	76	67	68	32	32	69	70	105
EV per Share	0.18	9.47	5.56	5.86	19.25	16.63	30.61	26.88	26.78	8.1	7.31	14.42	14.56	21.58
TTM Sales	50	64	73	75	104	156	207	207	188	131	123	204	215	208
TTM EBITDA	12	15	12	10	13	15	22	7	-22	-7	5	14	16	11
TTM Operating Income	12	14	10	7	8	8	15	-1	-31	-14	1	9	10	3
TTM Cash Flow to Firm	6	6	7	3	2	6	-5	16	3	12	-1	10	- -	- -
TTM Free Cash Flow to Firm	8	10	14	6	7	9	1	25	8	14	1	12	3	3

Multiples (USD)

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	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Price/Free Cash Flow	- -	2.64	1.21	2.75	2.39	1.48	10.11	0.4	0.45	0.56	10.64	1.35	5.51	2.46
EV/EBIT	0.03	1.54	1.39	2.11	5.83	4.95	4.99	- -	- -	- -	24.54	8.06	6.74	39.38
Enterprise Value	- -	21	14	15	49	41	75	67	68	32	32	69	70	105
Low Price	- -	11	6	5.63	5.25	3.75	5	3.3	0.8	0.75	1.3	1.8	1.85	1.05
EV/Sales	0.01	0.33	0.19	0.2	0.47	0.26	0.36	0.32	0.36	0.24	0.26	0.34	0.33	0.5
EV/EBITDA	0.03	1.42	1.16	1.46	3.74	2.78	3.34	9.36	- -	- -	6.95	4.87	4.47	9.77
Price/Earnings	- -	2.74	2.24	2.91	2.84	3.89	2.06	- -	- -	- -	- -	4.05	23.15	- -
Price/Earnings Average	- -	3.22	3.26	3.64	3.06	3.81	2.54	-2.4	-0.21	-0.3	-4.07	3.73	24.08	-0.69
Price/Earnings High	- -	3.96	4.4	4.77	3.52	5.09	3.33	-3.26	-0.31	-0.64	-5.17	4.69	30.46	-1.22
Price/Earnings Low	- -	2.68	2.07	2.62	2.39	2.78	1.96	-1.53	-0.05	-0.14	-2.49	2.28	14.23	-0.4
Price/Book Value	- -	6.33	1.47	0.95	0.32	0.25	0.22	0.18	0.19	9.53	2.64	1.68	-0.47	-0.15
Price/Book Value Average	- -	7.44	2.13	1.19	0.35	0.24	0.27	0.23	0.44	7.89	2.81	1.54	-0.48	-0.2
Price/Book Value High	- -	9.15	2.88	1.56	0.4	0.33	0.35	0.31	0.65	16.76	3.56	1.94	-0.61	-0.35
Price/Book Value Low	- -	6.19	1.35	0.86	0.27	0.18	0.2	0.15	0.11	3.54	1.72	0.94	-0.29	-0.12
Price/Tangible Book Value	- -	0.71	0.39	0.34	0.38	0.3	0.38	0.38	0.3	-1.68	-4.85	-2.84	-4.24	-0.13
Price/Tangible Book Value Average	- -	0.83	0.57	0.43	0.41	0.29	0.47	0.49	0.68	-1.39	-5.15	-2.61	-4.41	-0.18
Price/Tangible Book Value High	- -	1.03	0.77	0.56	0.47	0.39	0.62	0.66	1.01	-2.95	-6.55	-3.29	-5.58	-0.31
Price/Tangible Book Value Low	- -	0.69	0.36	0.31	0.32	0.21	0.37	0.31	0.18	-0.62	-3.15	-1.6	-2.61	-0.1
Price/Sales	- -	0.39	0.23	0.21	0.15	0.08	0.06	0.05	0.02	0.06	0.07	0.07	0.07	0.03
Price/Sales Average	- -	0.45	0.33	0.27	0.16	0.08	0.08	0.06	0.04	0.05	0.08	0.07	0.07	0.04
Price/Sales High	- -	0.56	0.44	0.35	0.19	0.11	0.1	0.08	0.06	0.11	0.1	0.09	0.09	0.07
Price/Sales Low	- -	0.38	0.21	0.19	0.13	0.06	0.06	0.04	0.01	0.02	0.05	0.04	0.04	0.02
Price/Cash Flow	- -	3.86	2.4	6.15	10.61	2.29	-2.42	0.62	1.07	0.65	-7.13	1.52	52.61	25.67
Price/Cash Flow Average	- -	4.53	3.49	7.71	11.43	2.25	-2.99	0.8	2.42	0.54	-7.58	1.4	54.72	33.91
Price/Cash Flow High	- -	5.57	4.72	10.08	13.15	3	-3.92	1.08	3.57	1.15	-9.63	1.76	69.22	59.63
Price/Cash Flow Low	- -	3.77	2.22	5.54	8.91	1.64	-2.31	0.51	0.62	0.24	-4.64	0.85	32.34	19.82
Price/Free Cash Flow Average	- -	3.1	1.75	3.44	2.58	1.45	12.48	0.51	1.01	0.46	11.31	1.24	5.73	3.25
Price/Free Cash Flow High	- -	3.82	2.37	4.51	2.97	1.94	16.36	0.69	1.49	0.99	14.36	1.56	7.24	5.72
Price/Free Cash Flow Low	- -	2.58	1.11	2.48	2.01	1.06	9.63	0.33	0.26	0.21	6.91	0.76	3.38	1.9
EV/Sales Average	0.01	0.39	0.3	0.25	0.54	0.3	0.38	0.34	0.38	0.23	0.26	0.33	0.33	0.51
EV/Sales High	0.01	0.5	0.41	0.34	0.57	0.33	0.4	0.36	0.4	0.29	0.28	0.35	0.35	0.54
EV/Sales Low	0.01	0.32	0.18	0.18	0.51	0.28	0.36	0.31	0.35	0.21	0.24	0.3	0.3	0.5
EV/EBITDA Average	0.03	1.72	1.78	1.85	4.32	3.2	3.5	9.74	-3.28	-4.29	7.07	4.78	4.5	9.96
EV/EBITDA High	0.03	2.18	2.47	2.45	4.51	3.49	3.72	10.38	-3.45	-5.33	7.61	5.04	4.76	10.58
EV/EBITDA Low	0.03	1.39	1.06	1.3	4.03	2.96	3.34	9.09	-3.01	-3.78	6.28	4.4	4.11	9.63
EV/EBIT Average	0.03	1.86	2.13	2.68	6.73	5.69	5.23	-49.55	-2.31	-2.16	24.97	7.92	6.79	40.18
EV/EBIT High	0.03	2.35	2.95	3.55	7.04	6.21	5.56	-52.8	-2.43	-2.69	26.89	8.34	7.18	42.67
EV/EBIT Low	0.03	1.5	1.27	1.89	6.28	5.28	4.99	-46.25	-2.12	-1.9	22.19	7.28	6.2	38.82
Last Price	- -	11.25	6.5	6.25	6.25	5.25	5.25	4.05	1.38	2.02	2	3.2	3.01	1.36
High Price	- -	16.25	12.75	10.25	7.75	6.88	8.5	7	4.6	3.55	2.7	3.7	3.96	3.16
Enterprise Value Average	- -	25	22	19	57	47	78	69	72	30	33	67	71	107
Enterprise Value High	- -	32	30	25	59	51	83	74	76	38	35	71	75	113
Enterprise Value Low	- -	20	13	13	53	43	75	65	66	27	29	62	64	103

	1994 Y	1995 Y	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y
Shares Outstanding	5	3	3	3	2	2	2	2	4	4	5	5	5	5
Diluted Weighted Avg Shares	2	2	3	3	3	2	3	2	3	4	4	5	5	5
Basic Weighted Avg Shares	2	2	3	3	3	2	2	2	3	4	4	5	5	5
Revenue per Share	22.32	29.11	28.69	29.32	40.94	63.98	84.98	83.33	74.25	33.3	28.13	42.94	44.73	42.94
EBITDA per Share	5.37	6.65	4.78	4.03	5.15	5.98	9.15	2.87	-8.7	-1.81	1.05	2.96	3.26	2.21
Operating Income per Share	5.14	6.15	4	2.78	3.3	3.36	6.13	-0.56	-12.34	-3.59	0.3	1.79	2.16	0.55
Basic EPS, GAAP	3.4	4.1	2.9	2.15	2.2	1.35	2.55	-2.15	-14.98	-5.55	-0.52	0.79	0.13	-2.6
Basic EPS from Cont Ops	3.4	4.1	2.9	2.15	2.2	1.35	2.55	-2.15	-12.63	-3.92	-0.52	0.2	0.13	-2.6
Diluted EPS, GAAP	3.4	3.65	2.75	2.05	2.15	1.35	2.45	-2.15	-14.98	-5.55	-0.52	0.76	0.13	-2.6
Diluted EPS from Cont Ops	3.4	3.65	2.75	2.05	2.15	1.35	2.45	-2.15	-12.63	-3.92	-0.52	0.19	0.13	-2.6
Dividend per Share	2.55	4.51	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	2.73	2.92	2.7	1.02	0.59	2.29	-2.17	6.49	1.29	3.1	-0.28	2.11	0.06	0.05
Free Cash Flow per Basic Share	2.06	1.05	-0.27	-0.35	-1.49	1.02	-4.87	2.87	-0.51	2.59	-0.75	1.75	-0.45	-0.45
Cash & Equivalents per Share	0.13	1.78	0.94	0.39	2.51	4.46	1.78	0.85	1.21	0.19	0.1	0.1	0.06	0.74
Book Value per Share	3.67	1.78	4.43	6.57	19.45	21.08	24.41	22.29	7.1	0.21	0.76	1.91	-6.46	-9
Tangible Book Value per Share	3.67	15.85	16.58	18.18	16.38	17.6	13.66	10.64	4.57	-1.2	-0.41	-1.13	-0.71	-10.19

LOUD Technologies Inc.

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Per Share Data Items (USD)