Edac Technologies Corp. (EDAC, Financial) filed Annual Report for the period ended 2011-01-01.
Edac Technologies Corp. has a market cap of $17 million; its shares were traded at around $3.5001 with a P/E ratio of 19.5 and P/S ratio of 0.3.
The $9.5 million purchase price of AERO was allocated entirely to the working capital acquired. In accordance with ASC 805.30, Business Combinations the acquisition was determined to be a bargain purchase. The excess value consisting entirely of fixed assets was determined based on independent appraisals and resulted in a net gain of $11,904,000, after acquisition related expenses of $257,000. Fair values at the date of acquisition were as follows (in thousands):
On August 10, 2009, the Company acquired substantially all of the assets of Service Network Incorporated, a manufacturer and rebuilder of precision grinders. This business is hereinafter referred to as SNI. The $775,000 purchase price of SNI was allocated as follows (in thousands): Accounts receivable $215, inventory $279, prepaid expenses $9 and machinery and equipment $272.
On May 14, 2010, the Company acquired certain assets of Accura Technics, LLC (Accura). The $300 purchase price of Accura has been allocated as follows: accounts receivable $19, inventories $118 and machinery and equipment $163.
Our backlog as of January 1, 2011, was approximately $138,300,000 compared to $125,900,000 as of January 2, 2010. The increase is primarily due to increased orders in all product lines. Backlog consists of accepted purchase orders that are cancelable or may be rescheduled by the customer without penalty, except for payment of costs incurred, and may involve delivery times that extend over periods as long as three years. We presently expect to complete approximately $64,000,000 of our January 1, 2011 backlog during the 2011 fiscal year.
Read the The complete Report
Edac Technologies Corp. has a market cap of $17 million; its shares were traded at around $3.5001 with a P/E ratio of 19.5 and P/S ratio of 0.3.
Highlight of Business Operations:
As of July 3, 2010, the aggregate market value of the registrants Common Stock (based upon the $4.70 closing price on that date on the NASDAQ Capital Market) held by nonaffiliates (excludes shares reported as beneficially owned by directors and officers does not constitute an admission as to affiliate status) was approximately $18,644,251The $9.5 million purchase price of AERO was allocated entirely to the working capital acquired. In accordance with ASC 805.30, Business Combinations the acquisition was determined to be a bargain purchase. The excess value consisting entirely of fixed assets was determined based on independent appraisals and resulted in a net gain of $11,904,000, after acquisition related expenses of $257,000. Fair values at the date of acquisition were as follows (in thousands):
On August 10, 2009, the Company acquired substantially all of the assets of Service Network Incorporated, a manufacturer and rebuilder of precision grinders. This business is hereinafter referred to as SNI. The $775,000 purchase price of SNI was allocated as follows (in thousands): Accounts receivable $215, inventory $279, prepaid expenses $9 and machinery and equipment $272.
On May 14, 2010, the Company acquired certain assets of Accura Technics, LLC (Accura). The $300 purchase price of Accura has been allocated as follows: accounts receivable $19, inventories $118 and machinery and equipment $163.
Our backlog as of January 1, 2011, was approximately $138,300,000 compared to $125,900,000 as of January 2, 2010. The increase is primarily due to increased orders in all product lines. Backlog consists of accepted purchase orders that are cancelable or may be rescheduled by the customer without penalty, except for payment of costs incurred, and may involve delivery times that extend over periods as long as three years. We presently expect to complete approximately $64,000,000 of our January 1, 2011 backlog during the 2011 fiscal year.
Read the The complete Report
