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Vislink Technologies (Vislink Technologies) Beneish M-Score : -2.38 (As of May. 26, 2024)


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What is Vislink Technologies Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Vislink Technologies's Beneish M-Score or its related term are showing as below:

VISL' s Beneish M-Score Range Over the Past 10 Years
Min: -6.37   Med: -3.11   Max: 22.57
Current: -2.38

During the past 13 years, the highest Beneish M-Score of Vislink Technologies was 22.57. The lowest was -6.37. And the median was -3.11.


Vislink Technologies Beneish M-Score Historical Data

The historical data trend for Vislink Technologies's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Vislink Technologies Beneish M-Score Chart

Vislink Technologies Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -4.16 -2.60 -1.56 -2.95 -2.26

Vislink Technologies Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.28 -3.50 -3.38 -2.26 -2.38

Competitive Comparison of Vislink Technologies's Beneish M-Score

For the Communication Equipment subindustry, Vislink Technologies's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Vislink Technologies's Beneish M-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Vislink Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Vislink Technologies's Beneish M-Score falls into.



Vislink Technologies Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Vislink Technologies for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.3907+0.528 * 0.7177+0.404 * 0.9542+0.892 * 1.0152+0.115 * 1.1388
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0565+4.679 * 0.004479-0.327 * 1.4176
=-2.38

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar24) TTM:Last Year (Mar23) TTM:
Total Receivables was $9.02 Mil.
Revenue was 8.598 + 8.072 + 7.179 + 5.043 = $28.89 Mil.
Gross Profit was 4.842 + 3.662 + 3.701 + 2.507 = $14.71 Mil.
Total Current Assets was $39.37 Mil.
Total Assets was $45.99 Mil.
Property, Plant and Equipment(Net PPE) was $3.05 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.71 Mil.
Selling, General, & Admin. Expense(SGA) was $19.64 Mil.
Total Current Liabilities was $8.21 Mil.
Long-Term Debt & Capital Lease Obligation was $0.85 Mil.
Net Income was -0.948 + -2.373 + -1.97 + -3.028 = $-8.32 Mil.
Non Operating Income was 0.504 + 0.143 + -0.019 + 0.082 = $0.71 Mil.
Cash Flow from Operations was -0.089 + -3.756 + -2.798 + -2.592 = $-9.24 Mil.
Total Receivables was $6.39 Mil.
Revenue was 7.188 + 7.382 + 7.123 + 6.766 = $28.46 Mil.
Gross Profit was 3.745 + -0.123 + 3.3 + 3.479 = $10.40 Mil.
Total Current Assets was $44.23 Mil.
Total Assets was $50.96 Mil.
Property, Plant and Equipment(Net PPE) was $2.57 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.78 Mil.
Selling, General, & Admin. Expense(SGA) was $18.31 Mil.
Total Current Liabilities was $6.06 Mil.
Long-Term Debt & Capital Lease Obligation was $1.02 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(9.015 / 28.892) / (6.385 / 28.459)
=0.312024 / 0.224358
=1.3907

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(10.401 / 28.459) / (14.712 / 28.892)
=0.365473 / 0.509207
=0.7177

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (39.365 + 3.046) / 45.99) / (1 - (44.234 + 2.569) / 50.959)
=0.077821 / 0.081556
=0.9542

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=28.892 / 28.459
=1.0152

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(1.779 / (1.779 + 2.569)) / (1.708 / (1.708 + 3.046))
=0.409154 / 0.359276
=1.1388

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(19.642 / 28.892) / (18.313 / 28.459)
=0.679842 / 0.643487
=1.0565

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((0.847 + 8.21) / 45.99) / ((1.022 + 6.057) / 50.959)
=0.196934 / 0.138916
=1.4176

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-8.319 - 0.71 - -9.235) / 45.99
=0.004479

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Vislink Technologies has a M-score of -2.38 suggests that the company is unlikely to be a manipulator.


Vislink Technologies Beneish M-Score Related Terms

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Vislink Technologies (Vislink Technologies) Business Description

Traded in Other Exchanges
N/A
Address
350 Clark Drive, Suite 125, Mount Olive, NJ, USA, 07828
Vislink Technologies Inc is a global technology business specializing in collecting, delivering, and managing high-quality, live video and associated data from the scene of the action to the viewing screen. It provides solutions for the collection of live news, sports, and entertainment events for the broadcast markets. It also furnishes the surveillance and defense markets with real-time video intelligence solutions using various tailored transmission products. The company provides professional and technical services utilizing a staff of technology experts with decades of applied knowledge and real-world experience in terrestrial microwave, satellite, fiber optic, surveillance, and wireless communications systems delivering a broad spectrum of customer solutions.
Executives
Paul Norridge officer: Chief Financial Officer 350 CLARK DRIVE, MT. OLIVE NY 07828
Carleton M Miller director, officer: Chief Executive Officer 4508 SALERNO CIRCLE, PLANO TX 70593
Jude T Panetta director 10500 W. 153RD STREET, ORLAND PARK IL 60462
Michael C. Bond officer: Chief Financial Officer 12220 WORLD TRADE DRIVE, SAN DIEGO CA 92128
Brian K. Krolicki director P.O. BOX 676, ZEPHYR COVE NV 89448
Ralph E Faison director 12220 WORLD TRADE DRIVE, SAN DIEGO CA 92128
Belinda Allen Marino officer: Secretary 2801 TEAL AVENUE, SARASOTA FL 34232
Susan Swenson director C/O PALM INC, 5470 GREAT AMERICAN PARKWAY MS12116, SANTA CLARA CA 95052
Payne John Bayly Iv officer: President 373 RIDGE RD, NEWTON NJ 07860
James M Walton officer: President of IMT Ltd. 240 S. PINEAPPLE AVENUE, SUITE 701, SARASOTA FL 34236
Ross James Woodyatt officer: President 240 S PINEAPPLE AVE, STE 701, SARASOTA FL 34236
John C Coleman director, officer: CEO 240 S PINEAPPLE AVE, STE 701, SARASOTA FL 34236
Roger G Branton 10 percent owner, officer: CFO 240 S PINEAPPLE AVE, STE 701, SARASOTA FL 34236
James T Conway director 40 WESTMINSTER STREET, PROVIDENCE RI 02903
Gary Cuccio director 240 S PINEAPPLE AVE, STE 701, SARASOTA FL 34236