Dun & Bradstreet Comprehensive Report
- Business Summary
- Executive Summary
- Credit Capacity Summary
- Financial Stress Summary
- Financial Stress Norms
- Credit Score Summary
- Credit Score Norms
- Payment Trends
- Summary Of Payment Habits
- Payment Analysis By Industry
- Public Filings Summary
- Public Filings Detail
- Business Background
- Banking Relationships Reported
- Financial Summary
- Customer Service
Business Summary
(C) 2006 D&B
COPYRIGHT 2006 DUN & BRADSTREET INC. - PROVIDED UNDER CONTRACT
FOR THE EXCLUSIVE USE OF SUBSCRIBER 037080263.
ATTN: null
GORMAN MANUFACTURING COMPANY, DUNS: 80-473-5132
INC FINANCIAL STRESS CLASS: 1
CREDIT SCORE CLASS: 5
492 KOLLER STREET
AND BRANCH(ES) OR DIVISION(S) KEY
SAN FRANCISCO CA 94110 =============================
TEL: 650 555-0000 LOWEST RISK HIGHEST RISK
1 2 3 4 5
SIC: 27 52
LINE OF BUSINESS: COMMERCIAL PRINTING
YEAR STARTED: 1985
CONTROL DATE: 1985 DATE PRINTED: OCT 10 2006
LESLIE SMITH, PRES
Executive Summary
- The Financial Stress Class of 1 for this company shows that firms with this classification had a failure rate of 1.2% (120 per 10,000), which is lower than the average of businesses in D&B's database. - The Credit Score Class of 5 for this company shows that 61.9% of firms with this classification paid one or more bills severely delinquent, which is 3.08 times higher than the average of businesses in D&B's database. - Subject company pays its bills an average 54 days beyond terms. - Subject company's industry pays its bills an average 5 days beyond terms. - Subject company pays its bills slower than the average for its industry. - Financial information from a fiscal consolidated statement dated 12/31/05 is included. - Sales for the fiscal year ending December 2005 are up by 4.7%. - Net worth for the fiscal year ending December 2005 is up by 1.1%. - Operations are profitable. - UCC filing(s) are reported for this business. - Financing is secured. - Under present management control 21 years. - Evidence of open Lien(s) in the D&B database. - History is clear.
Credit Capacity Summary
D&B Rating: 3A4 Payment Activity
(based on 152 experiences):
Sales ($): 24,665,005 Average High Credit: $37,152
# of Employees Highest Credit: $750,000
Total: 125 Total Highest Credits: $3,521,900
(100 Here)
As of 12/31/05 Worth: $3,602,233
Working Capital: $3,452,152
Note: The Worth amount in this section may have been adjusted by D&B to reflect
typical deductions, such as certain intangible assets.
Financial Stress Summary
The Financial Stress Model predicts the likelihood of a firm ceasing business
without paying all creditors in full, or reorganizing or obtaining relief from
creditors under state/federal law over the next 12 months. Scores were
calculated using a statistically valid model derived from D&B's extensive data
files.
Financial Stress Class: 1
(Highest Risk: 5; Lowest Risk: 1)
Incidence of Financial Stress Among
Businesses with this Class: 1.20% (120 per 10,000)
Incidence of Financial Stress: 2.60% (260 per 10,000)
- Average of businesses in D&B's database
Financial Stress National Percentile: 22
(Highest Risk: 1; Lowest Risk: 100)
Financial Stress Score: 1320
(Highest Risk: 1,001; Lowest Risk: 1,875)
The Financial Stress Score of this business is based on the following factors:
- 64% of trade dollars indicate slow payment(s) are present.
- Change in Net Worth suggests lower risk of financial stress.
- Payment information indicates negative payment comments.
- Payment experiences exist for this firm which are greater than 60 days
past due.
Notes:
- The Financial Stress Class indicates that this firm shares some of
the same business and financial characteristics of other companies with
this classification. It does not mean the firm will necessarily
experience financial stress.
- The Incidence of Financial Stress shows the percentage of firms in a
given Class that discontinued operations with loss to creditors.
The average Incidence of Financial Stress is based on businesses in
D&B's database and is provided for comparative purposes.
- The Financial Stress National Percentile reflects the relative
ranking of a company among all scorable companies in D&B's file.
- The Financial Stress Score offers a more precise measure of the level
of risk than the Class and Percentile. It is especially helpful to
customers using a scorecard approach to determining overall business
performance.
- All Financial Stress Class, Percentile, Score and Incidence
statistics are based on 2004.
Financial Stress Norms
National
Norms for Companies in the Same ... Percentile
- Region (PACIFIC) 50
- Industry: MANUFACTURING 52
- Employee Range (100-499) 99
- Years in Business Range (11-25) 52
- Subject Company 22
Key Comparisons
The subject company has a Financial Stress Percentile that shows:
- Higher risk than other companies in the same region.
- Higher risk than other companies in the same industry.
- Higher risk than other companies in the same employee size range.
- Higher risk than other companies with a comparable number of years in
business.
Credit Score Summary
The Credit Score Class predicts the likelihood of a firm paying in a severely
delinquent manner (90+ Days Past Terms) over the next twelve months. It was
calculated using statistically valid models and the most recent payment
information in D&B's files.
Credit Score Class: 5
Incidence of Delinquent Payment Among
Companies with this Class: 61.90%
Incidence of Delinquent Payment: 20.10%
- Average compared to businesses in D&B's database
Percentile: 1
Credit Score: 199
The Credit Score of this business is based on the following factors:
- Payment information indicates negative payment comments.
- 64% of trade dollars indicate slow payment(s) are present.
- Payment experiences exist for this firm which are greater than 60 days past
due.
- Business does not own facilities.
Notes:
- The Credit Score Class indicates that this firm shares some of the same
business and payment characteristics of other companies with this
classification. It does not mean the firm will necessarily experience
delinquency.
- The Incidence of Delinquent Payment is the percentage of companies with
this classification that were reported 90 days past due or more by
creditors. The calculation of this value is based on an inquiry weighted
sample.
- The Delinquency Rate is the percentage of companies with this
classification that were reported 90 days past due or more by creditors.
The calculation of this value is based on an inquiry weighted sample.
- The Percentile ranks this firm relative to other businesses. For example,
a firm in the 80th percentile has a lower risk of paying in a severely
delinquent manner than 79% of all scorable companies in D&B's files.
- The Credit Score offers a more precise measure of the level of risk than
the Class and Percentile. It is especially helpful to customers using a
scorecard approach to determining overall business performance.
- All Credit Class, Percentile, Score and Incidence statistics are based on
sample data from 2004.
Credit Score Norms
National
Norms for Companies in the Same ... Percentile
- Region (PACIFIC) 52
- Industry: MANUFACTURING 57
- Employee Range (100-499) 75
- Years in Business Range (11-25) 64
- Subject Company 1
Key Comparisons
The subject company has a Credit Score Percentile that shows:
- Higher risk than other companies in the same region.
- Higher risk than other companies in the same industry.
- Higher risk than other companies in the same employee size range.
- Higher risk than other companies with a comparable number of years in
business.
Payment Trends
PAYDEX scores below are based on dollar weighted trade in most recent 12 mos.
'04 '05 '05 '05 '05 '05 '06 '06 '06 '06 '06 '06 '06 '06 '06 '06
DEC MAR JUN SEP NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT
FIRM 52 46 40 36 37 36 37 36 30 31 31 39 41 41 42 42
Industry
Quartiles
----------
Upper 79 80 80 80 80 80 80 80
Median 75 76 76 77 76 76 77 77
Lower 67 67 68 69 69 69 70 70
Industry PAYDEX based on: KEY TO PAYDEX SCORES:
SIC: 2752 80 Within terms
642 Firms 76 6 Days Beyond Terms
30 90 Days Beyond Terms
Summary Of Payment Habits
Dollar Range Comparisons:
Suppliers That Number of Total % of Dollars
Extend Credit of... Experiences: Amount Within Terms
# $ %
OVER $100,000 6 1,650,000 3
$50,000 - 99,999 11 720,000 50
$15,000 - 49,999 15 450,000 43
$ 5,000 - 14,999 20 150,000 20
$ 1,000 - 4,999 15 33,000 59
Under 1,000 21 6,350 54
Payment Analysis By Industry
There are 152 payment experiences in D&B's file for the most recent 12 months,
with 33 experiences reported during the last three month period.
Total Dollar Highest Within Slow Slow Slow Slow
Recd Amount Credit Terms 1-30 31-60 61-90 91+
# $ $ --- % of dollar amount ---
Total in D&B's File 152 3,521,900 750,000
Industry
Business consulting 7 105,250 75,000 100 0 0 0 0
Whol auto parts 5 13,500 5,000 100 0 0 0 0
Whol industrial equip 4 15,500 10,000 0 24 41 0 35
Nonclassified 4 1,100 500 100 0 0 0 0
Whol electrical equip 3 115,000 55,000 91 9 0 0 0
Mfg mattress/bdspring 3 52,500 40,000 0 10 0 83 7
Computer system desgn 3 42,550 35,000 59 0 0 0 41
Trucking non-local 3 6,750 5,000 0 74 11 0 15
Misc business service 3 350 250 79 21 0 0 0
Ret misc merchandise 2 50,000 50,000 100 0 0 0 0
Misc business credit 2 47,500 45,000 100 0 0 0 0
Whol computers/softwr 2 80,000 40,000 50 0 0 0 50
Mfg blowers/fans 2 35,000 30,000 43 57 0 0 0
Whol hardware 2 40,000 25,000 19 0 81 0 0
Whol electronic parts 2 20,100 20,000 0 100 0 0 0
Mfg plastic sheet/flm 1 750,000 750,000 0 50 50 0 0
Lace/warp knit mill 1 500,000 500,000 0 100 0 0 0
Mfg semiconductors 1 100,000 100,000 0 0 100 0 0
Mfg structural metal 1 100,000 100,000 50 0 50 0 0
Mfg misc plastic prdt 1 100,000 100,000 0 0 50 0 50
Whol motor vehicles 1 100,000 100,000 0 0 50 0 50
Mfg telephone equip 1 85,000 85,000 0 100 0 0 0
Whol metal 1 80,000 80,000 100 0 0 0 0
Whol general grocery 1 70,000 70,000 100 0 0 0 0
Mfg broadcastng equip 1 70,000 70,000 0 0 0 0 100
Petroleum refining 1 65,000 65,000 0 0 0 0 100
Whol chemicals 1 60,000 60,000 50 50 0 0 0
Mfg elect indus equip 1 60,000 60,000 0 0 0 50 50
Facilities support 1 50,000 50,000 0 100 0 0 0
Mfg sheet metalwork 1 30,000 30,000 0 0 100 0 0
Gas w/other services 1 25,000 25,000 0 0 0 50 50
Whol misc coml equip 1 25,000 25,000 0 50 0 0 50
Transportation svcs 1 10,000 10,000 50 50 0 0 0
Help supply service 1 10,000 10,000 0 0 0 0 100
Mfg fabricated rubber 1 10,000 10,000 0 0 50 50 0
Mfg waterproof wear 1 10,000 10,000 50 50 0 0 0
Mfg cleaning products 1 10,000 10,000 0 0 0 0 100
Sawmill/planing mill 1 10,000 10,000 0 0 100 0 0
Whol appliances 1 10,000 10,000 0 50 0 0 50
Arrange cargo transpt 1 10,000 10,000 0 100 0 0 0
Short-trm busn credit 1 5,000 5,000 50 50 0 0 0
Whol drugs/sundries 1 5,000 5,000 0 50 0 0 50
Whol refrig equip 1 5,000 5,000 0 100 0 0 0
Mfg prepared meats 1 5,000 5,000 0 0 0 100 0
Whol industrial suppl 1 2,500 2,500 100 0 0 0 0
Mfg pumping equipment 1 2,500 2,500 0 50 0 0 50
Whol transport equip 1 2,500 2,500 0 0 0 0 100
Mfg manifold forms 1 2,500 2,500 0 50 0 50 0
Plating/polish svcs 1 1,000 1,000 100 0 0 0 0
Animal specialty svcs 1 1,000 1,000 100 0 0 0 0
Ornamental nursery 1 750 750 0 100 0 0 0
Mfg misc products 1 500 500 100 0 0 0 0
Electric eqpt repair 1 500 500 0 100 0 0 0
Special trade work 1 250 250 0 100 0 0 0
Credit reporting svcs 1 100 100 100 0 0 0 0
Photocopying service 1 100 100 100 0 0 0 0
Misc coml printing 1 50 50 0 0 0 0 100
OTHER PAYMENT CATEGORIES:
Cash Experiences 1 0
Paying Record Unknown 7 102,500
Unfavorable Comments 19 410,050
Placed for Collection
with D&B 0 0
other 36 N/A
Accounts are sometimes placed for collection even though the existence or
amount of the debt is disputed.
Indications of slowness can be the result of disputes over merchandise, skipped
invoices, etc.
Public Filings Summary
The following data includes both open and closed filings found in
D&B's database on the subject company.
Most Recent
Record Type # Filing Date
Bankruptcy Proceedings 0 -
Judgments 0 -
Liens 4 12/14/2001
Suits 0 -
UCC's 3 04/18/2006
Public Filings Detail
The following data is for information purposes only and is not the
official record. Certified copies can only be obtained from the
official source.
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* * * LIEN(S) * * *
-------------------------------------------------------------------------------
A lienholder can file the same lien in more than one filing
location. The appearance of multiple liens filed by the
same lienholder against a debtor may be indicative of such
an occurrence.
-------------------------------------------------------------------------------
CASE NO.: IY5678
TYPE: State Tax STATUS: Open
FILED BY: State of Ca- Test Mtch Code (force DATE STATUS ATTAINED: 12/14/2001
thru SO) DATE FILED: 12/14/2001
AGAINST: Gorman Manufacturing Company, Inc LATEST INFO RECEIVED: 12/14/2001
WHERE FILED: LOS ANGELES COUNTY RECORDER'S
OFFICE, NORWALK, CA
-------------------------------------------------------------------------------
CASE NO.: IY1234
AMOUNT: $100 STATUS: Open
TYPE: State Tax DATE STATUS ATTAINED: 12/14/2001
FILED BY: state of CA-test mtch code (forced DATE FILED: 12/14/2001
thru SO) LATEST INFO RECEIVED: 12/14/2001
AGAINST: Gorman Manufacturing Company, Inc
WHERE FILED: LOS ANGELES COUNTY RECORDER'S
OFFICE, NORWALK, CA
-------------------------------------------------------------------------------
CASE NO.: ian5678
TYPE: State Tax STATUS: Open
FILED BY: STATE OF CA-TEST MTCH CODE DATE STATUS ATTAINED: 12/14/2001
AGAINST: GORMAN MANUFACTURING COMPANY, INC DATE FILED: 12/14/2001
and OTHERS LATEST INFO RECEIVED: 12/14/2001
WHERE FILED: LOS ANGELES COUNTY RECORDER'S
OFFICE, NORWALK, CA
-------------------------------------------------------------------------------
CASE NO.: IAN1234
AMOUNT: $100 STATUS: Open
TYPE: State Tax DATE STATUS ATTAINED: 12/14/2001
FILED BY: State of CA-test match Code DATE FILED: 12/14/2001
AGAINST: Gorman Manufacturing Company, Inc LATEST INFO RECEIVED: 12/14/2001
WHERE FILED: LOS ANGELES COUNTY RECORDER'S
OFFICE, NORWALK, CA
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* * * UCC FILING(S) * * *
-------------------------------------------------------------------------------
COLLATERAL: Leased Equipment
FILING NO: 306-121640 DATE FILED: 04/18/2006
TYPE: Original LATEST INFO RECEIVED: 05/12/2006
SEC. PARTY: RAYMOND LEASING CORPORATION, FILED WITH: SECRETARY OF
GREENE, NY STATE/UCC DIVISION,
DEBTOR: GORMAN MANUFACTURING COMPANY, TN
INC
-------------------------------------------------------------------------------
COLLATERAL: Leased Equipment
FILING NO: 009679812 DATE FILED: 03/30/2005
TYPE: Original LATEST INFO RECEIVED: 04/07/2005
SEC. PARTY: RAYMOND LEASING CORPORATION, FILED WITH: SECRETARY OF
GREENE, NY STATE/UCC DIVISION,
DEBTOR: GORMAN MANUFACTURING COMPANY, IL
INC.
and OTHERS
-------------------------------------------------------------------------------
COLLATERAL: Leased Unspecified
FILING NO: 040077623160 DATE FILED: 08/06/2004
TYPE: Original LATEST INFO RECEIVED: 08/24/2004
SEC. PARTY: RAYMOND LEASING CORPORATION, FILED WITH: SECRETARY OF
GREENE, NY STATE/UCC DIVISION,
DEBTOR: GORMAN MANUFACTURING COMPANY, TX
INC
and OTHERS
-------------------------------------------------------------------------------
The public record items contained in this report may have been
paid, terminated, vacated or released prior to the date this
report was printed.
Business Background
HISTORY
----------------------------------------------------------------------
CORPORATE AND BUSINESS REGISTRATIONS REPORTED BY THE SECRETARY
OF STATE OR OTHER OFFICIAL SOURCE AS OF 09/15/2006:
This data is for informational purposes only, certification can only
be obtained through the Sacramento Office of the California Secretary
of State.
BUSINESS TYPE: CORPORATION - DATE INCORPORATED: 01/03/1977
PROFIT STATE OF INCORP: CALIFORNIA
----------------------------------------------------------------------
01/24/06
LESLIE SMITH, PRES KEVIN J HUNT, SEC-TREAS
DIRECTOR(S): THE OFFICER(S)
Business started 1985 by Leslie Smith and Kevin J Hunt. 100% of
capital stock is owned by officers.
LESLIE SMITH born 1946. Graduated from the University of
California, Los Angeles, CA, in June 1967 with a BS degree in Business
Management. 1967-85 general manager for Raymor Printing Co, San
Francisco, CA. 1985 formed subject with Kevin J Hunt. 1985 to
present principal in Gorman Affiliate Ltd, San Francisco, CA.
KEVIN J HUNT born 1945. Graduated from Northwestern University,
Evanston, IL in June 1966. 1966-1985 was general manager for Raymor
Printing Co, San Francisco, CA. 1985 formed subject with Leslie
Smith. 1985 to present principal in Gorman Affiliate Ltd, San
Francisco, CA.
AFFILIATE: The following is related through common principals,
management and/or ownership. Gorman Affiliate Ltd, San Francisco, CA,
started 1985. Operates as commercial printer. Intercompany
relations: None reported by management.
OPERATIONS
01/24/06 Operates as commercial printing specializing in advertising
posters, catalogs, circulars and coupons. Posters and catalogs are
printed through the subsidiaries.
Terms are net 30 days. Has 250 account(s). Sells to commercial
concerns. Territory : United States.
Nonseasonal.
EMPLOYEES: 125 which includes officer(s). 100 employed here.
FACILITIES: Occupies premises in a one story cinder block
building.
LOCATION: Central business section on well traveled street.
BRANCHES: Subject maintains a branch at 1073 Boyden Road, Los
Angeles, CA.
SUBSIDIARIES: This business has 2 subsidiaries listed below.
The extent of ownership where known, is shown in parenthesis following
company name:
Gorman Poster Printing Inc, San Francisco, CA (100%) chartered
2003. Operates as a poster printing company.
Gorman Catalog Printing Inc, San Francisco, CA (100%) chartered
2003. Operates as a catalog printing company.
OTHER CORPORATE DETAILS
CORPORATE STATUS: SUSPENDED
CORPORATE AGENT: DENNIS L GORMAN, 1324 E BEAMER, WOODLAND, CA
STATE ID NO: C0806110
Banking Relationships Reported
(01/06) Balances average in a medium 6 figure amount. At Dec 31
2005, a low 7 figure amount was outstanding under short-term lines of
credit which are secured by accounts receivable and inventory.
Financial Summary
KEY BUSINESS RATIOS
Based on a Financial Statement Dated December 31, 2005
(Industry Norms Based on 12 Establishments)
Profitability Short-Term Efficiency Utilization
% Solvency (%) (%)
Return Return Curr Quick Assets/ Sales/ Total Liabs/
on Sales on Net Ratio Ratio Sales Net working Net Worth
Worth Capital
Firm 0.4 2.5 1.5 0.6 49.3 7.1 232.7
Industry 5.4 18.3 1.9 1.0 60.8 7.1 134.9
Median
Industry 4 4 3 3 2 2 3
Quartile
FINANCIAL INFORMATION
01/24/06 Fiscal Fiscal Fiscal
Consolidated Consolidated Consolidated
Dec 31 2003 Dec 31 2004 Dec 31 2005
Curr Assets 7,723,160 9,354,374 9,795,692
Curr Liabs 5,748,717 6,524,027 6,343,540
Current Ratio 1.34 1.43 1.54
Working Capital 1,974,443 2,830,347 3,452,152
Other Assets 2,654,953 2,419,042 2,355,579
Worth 3,486,291 3,562,160 3,652,233
Sales 24,235,532 23,554,189 24,665,005
Long Term Liab 1,143,105 1,687,229 2,155,498
Net Profit (Loss) 39,095 25,869 90,073
Fiscal Consolidated statement dated DEC 31 2005:
Cash $ 770,562 Accts Pay $ 3,798,477
Accts Rec 3,279,556 Bank Loans 1,015,249
Inventory 2,645,002 Notes Pay 744,269
Other Curr Assets 3,100,572 Other Curr Liabs 785,545
--------------- ---------------
Curr Assets 9,795,692 Curr Liabs 6,343,540
Fixt & Equip 1,765,229 L.T. Liab-Other 2,155,498
Intangibles 85,125 COMMON STOCK 50,000
Other Assets 505,225 NET WORTH 3,602,233
--------------- ---------------
Total Assets 12,151,271 Total 12,151,271
From JAN 01 2005 to DEC 31 2005 annual sales
$24,665,005; cost of goods sold $19,895,547. Gross profit
$4,769,458; operating expenses $4,525,663. Operating income
$243,795; other income $27,412; other expenses $68,882; net income
before taxes $202,325; Federal income tax $112,252. Net income
$90,073. Retained earnings at start $3,512,160. Net income
$90,073; retained earnings at end $3,602,233.
Prepared from statement(s) by Accountant: Johnson, Jordan & Jones
CPAs.
ACCOUNTANTS OPINION: A review of the accountant's opinion
indicates the financial statements meet generally accepted accounting
principles and that the audit contains no qualifications.
--0--
On JAN 23 2006 Leslie Smith, president, referred to the above
figures.
Customer Service
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