Western Metals Corporation

WTLC

WTLCWestern Metals Corporation US flag

Other OTC

0.38

USD

-NaN

- -

2.87MMarket Cap

Income Statement (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y
Sales/Revenue/Turnover	148	150	145	120	141	115	62
+ Sales & Services Revenue	148	150	145	120	141	115	62
- Cost of Revenue	114	121	122	99	123	112	61
+ Cost of Goods & Services	114	121	122	99	123	112	61
Gross Profit	34	29	22	22	19	3	2
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	9	11	10	7	7	7	9
+ Selling, General & Admin	9	11	10	7	7	7	5
+ Research & Development	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	4
Operating Income (Loss)	24	18	12	14	12	-4	-7
- Non-Operating (Income) Loss	-1	-1	-2	-2	-3	- -	3
+ Interest Expense, Net	- -	- -	- -	- -	- -	- -	- -
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-1	-1	-2	-2	-3	- -	3
Pretax Income	25	19	14	16	15	-3	-10
- Income Tax Expense (Benefit)	10	8	6	7	6	-1	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	15	11	8	10	9	-2	-11
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	15	11	8	10	9	-2	-11
- Minority Interest	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	15	11	8	10	9	-2	-11
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	15	11	8	10	9	-2	-11
EBIT	24	18	12	14	12	-4	-7
EBITDA	27	21	15	18	16	1	-3
EBITDA Margin (%)	18.17	13.79	10.62	15.34	11.62	0.86	-5.13
EBITA	24	18	12	14	12	-4	-7
Gross Margin (%)	22.82	19.08	15.47	18.09	13.17	2.78	3.05
Operating Margin (%)	16.49	11.89	8.28	11.92	8.47	-3.11	-11.29
Profit Margin (%)	10.16	7.27	5.31	7.91	6.19	-1.98	-16.91
Sales per Employee	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	5.27	- -
Depreciation Expense	2	3	3	4	4	5	4
Basic Weighted Avg Shares	9	9	9	8	8	8	8
Basic EPS, GAAP	1.67	1.24	0.89	1.21	1.15	-0.3	-1.38
Basic EPS from Cont Ops	1.67	1.24	0.91	1.21	1.15	-0.3	-1.38
Diluted Weighted Avg Shares	9	9	9	8	8	8	8
Diluted EPS, GAAP	1.67	1.22	0.87	1.2	1.12	-0.3	-1.38
Diluted EPS from Cont Ops	1.67	1.22	0.89	1.2	1.12	-0.3	-1.38

Balance Sheet (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y
Total Current Assets	54	67	53	66	73	40	34
+ Cash, Cash Equivalents & STI	14	28	28	43	52	13	16
+ Cash & Cash Equivalents	14	28	28	43	52	13	16
+ ST Investments	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	12	13	8	9	7	7	4
+ Accounts Receivable, Net	12	13	8	9	7	7	4
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -
+ Inventories	22	21	10	11	10	9	5
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	22	21	10	11	10	9	5
+ Other ST Assets	6	5	8	3	4	10	9
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	22	23	31	26	26	17	10
+ Property, Plant & Equip, Net	20	19	24	24	23	14	9
+ Property, Plant & Equip	20	19	24	24	23	14	9
- Accumulated Depreciation	- -	- -	- -	- -	- -	- -	- -
+ LT Investments & Receivables	- -	- -	6	1	1	1	1
+ LT Investments	- -	- -	6	1	1	1	1
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2	4	- -	1	2	3	- -
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	2	4	- -	1	2	3	- -
Total Assets	76	90	84	92	99	57	44
+ Payables & Accruals	9	10	6	8	46	8	5
+ Accounts Payable	5	5	3	5	4	3	2
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	4	5	3	4	42	4	3
+ ST Debt	- -	- -	- -	- -	- -	- -	- -
+ ST Borrowings	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	9	10	6	8	46	8	5
+ LT Debt	- -	- -	- -	- -	- -	- -	- -
+ LT Borrowings	- -	- -	- -	- -	- -	- -	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	- -	2	- -	1	1	2	2
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	2	- -	1	1	2	2
Total Noncurrent Liabilities	- -	2	- -	1	1	2	2
Total Liabilities	10	12	7	9	47	9	7
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	38	39	30	27	26	26	26
+ Common Stock	38	39	30	27	26	26	26
+ Additional Paid in Capital	- -	- -	- -	- -	- -	- -	- -
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	28	39	47	56	27	22	12
+ Other Equity	- -	- -	- -	- -	- -	- -	-1
Equity Before Minority Interest	66	78	77	83	53	48	37
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -
Total Equity	66	78	77	83	53	48	37
Total Liabilities & Equity	76	90	84	92	99	57	44
Shares Outstanding	9	9	8	8	7	8	8
Number of Employees	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -
Net Debt	-14	-28	-28	-43	-52	-13	-16
Net Debt to Equity	-21.15	-35.96	-35.71	-51.31	-98.92	-27.45	-42.15
Tangible Common Equity Ratio	87.37	87.08	92.19	90.22	53.08	84.02	84.32
Current Ratio	5.88	6.67	8.49	7.8	1.6	5.29	6.59
Cash Conversion Cycle	- -	79.6	60.14	50.71	38.77	42.37	59.98

Cash Flow Statement (USD)

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	1996 Y	1997 Y	1998 Y	1999 Y	2000 Y	2001 Y	2002 Y
+ Net Income	15	11	8	10	9	-2	-11
+ Depreciation & Amortization	2	3	3	4	4	5	4
+ Non-Cash Items	1	1	- -	- -	- -	- -	7
+ Stock-Based Compensation	- -	- -	- -	- -	- -	- -	- -
+ Deferred Income Taxes	- -	-1	1	- -	- -	-1	3
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	- -	2	-1	- -	- -	1	4
+ Chg in Non-Cash Work Cap	-20	3	8	4	1	1	4
+ (Inc) Dec in Accts Receiv	-5	-1	5	-2	2	- -	3
+ (Inc) Dec in Inventories	-14	- -	11	-1	2	- -	4
+ (Inc) Dec in Prepaid Assets	-2	3	-4	4	-2	1	-1
+ Inc (Dec) in Accts Payable	1	1	-4	2	-1	- -	-2
+ Inc (Dec) in Other	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-2	18	19	18	14	4	4
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	1	- -	- -	1	- -
+ Disp of Fixed Prod Assets	- -	- -	1	- -	- -	1	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-8	-2	-9	-4	-4	-4	-2
+ Acq of Fixed Prod Assets	-8	-2	-9	-4	-4	-4	-2
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	1	1	-9	-3	-1	- -	- -
+ Increase in Capital Stock	1	1	3	- -	4	- -	- -
+ Decrease in Capital Stock	- -	- -	-12	-3	-6	- -	- -
+ Net Change in LT Investment	- -	- -	- -	-1	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	1	1	- -
+ Inc in LT Investment	- -	- -	- -	-1	-1	-1	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	13	-2	-2	6	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	5	-4	-11	1	-4	-3	-1
+ Dividends Paid	- -	- -	- -	- -	- -	-40	- -
+ Net Cash From Debt	- -	- -	- -	- -	- -	- -	- -
+ Cash From Debt	- -	- -	- -	- -	- -	- -	- -
+ Repayments of Debt	- -	- -	- -	- -	- -	- -	- -
+ Other Financing Activities	1	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	1	1	-9	-3	-1	-40	- -
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	5	14	-1	15	9	-39	2
EBITDA	27	21	15	18	16	1	-3
EBITDA Margin (%)	18.17	13.79	10.62	15.34	11.62	0.86	-5.13
Free Cash Flow	-9	15	10	13	11	- -	2
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Firm	-9	15	10	13	11	- -	- -
Free Cash Flow to Equity	- -	16	11	13	11	1	2
Free Cash Flow per Basic Share	-1.05	1.76	1.2	1.69	1.39	0.03	0.28
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -
Cash Flow to Net Income	-0.12	1.62	2.49	1.85	1.64	-1.66	-0.37
Capital Expenditures	-8	-2	-9	-4	-4	-4	-2