Comparable Public Company Analysis Sample Clauses

Comparable Public Company Analysis. Lehmxx Xxxthers compared the historical financial, operating and stock market performances of certain publicly traded companies that it considered relevant with the historical financial, operating and stock market performance of the Company, based upon information that was publicly available at that time and based upon information provided to Lehmxx Xxxthers by management of the Company. Lehmxx Xxxthers considered companies in three principal industry segments: automotive suppliers, industrial consumables producers and small-capitalization diversified manufacturers. The automotive suppliers that Lehmxx Xxxthers considered were Avon Rubber PLC, CLARCOR Inc., Collxxx & Xikmxx Xxxporation, Donnxxxx Xxxporation, Dura Automotive Systems, Inc., Lairx Xxxup PLC, Noble International, Ltd., Phoenix AG, Simpxxx Xxxustries, Inc., STRATTEC SECURITY CORPORATION and Wynn'x Xxxernational, Inc. (the "Comparable Automotive Suppliers"); the industrial consumables producers considered were BHA Group Holdings, Inc., Donaxxxxx Xxxpany, Inc., Farr Xxxpany, Flanders Corporation, Industrial Holdings, Inc., Kennametal Inc., The L.S. Xxxxxxxx Xxxpany, Penn Engineering and Manufacturing Corp. and SPS Technologies, Inc. (the "Comparable Industrial Consumables Producers"); and the small-capitalization diversified manufacturers considered were Amcast Industrial Corporation, Barnxx Xxxup Inc., Estexxxxx Xxxhnologies Corporation, Griffon Corporation, Myerx Xxxustries, Inc., Thomxx Xxxustries Inc. and Valmont Industries, Inc. (the "Comparable Small-Cap Diversified Manufacturers" and, together with the Comparable Automotive Suppliers and Comparable Industrial Consumables Producers, the "Comparable Public Companies").
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Comparable Public Company Analysis. The Beacon Group reviewed and compared financial information and public market multiples for Instron to corresponding financial information and public market multiples for selected publicly traded analytical instruments companies, which companies were considered by The Beacon Group to be reasonably comparable to Instron for purposes of this analysis. The Beacon Group selected publicly traded companies with analytical instruments businesses focused on the measurement of various properties across a range of end markets. The Beacon Group included all of the selected companies in its analysis. The companies listed in the following table, which are referred to in this Proxy Statement as the "Comparable Companies," are the companies that The Beacon Group used for this analysis: COMPARABLE COMPANIES Beckxxx Xxxlxxx, Xxc. MTS Systems Corporation Bio-Rad Laboratories Thermoquest Corporation Browxx & Xharxx Xxxufacturing Company Varian Associates Mettxxx-Xxxxxx Xxxernational Inc. Waters Corporation Modern Controls, Inc. Using publicly available information, The Beacon Group calculated and analyzed, among other things: - the Equity Value (as defined below) of the Comparable Companies and Instron as a multiple of certain historical and projected financial criteria, including net income and tangible book value; and - the Aggregate Value (as defined below) of the Comparable Companies and Instron as a multiple of the latest 12 months', or "LTM," sales, earnings before interest, taxes, depreciation and amortization, or "EBITDA," and earnings before interest and taxes, or "EBIT." The "Equity Value" of each company was calculated by multiplying the number of shares of common stock outstanding for each company by the closing market price of the company's shares of stock on April 30, 1999, adjusted to include the impact, if any, of outstanding options. The "Aggregate Value" of each company was calculated by adding the Equity Value of the company to its Net Debt (as defined below). The "Net Debt" of each company was calculated by adding the book value of the company's debt, preferred stock and minority interest and subtracting cash and cash equivalents. The estimated net income data for Instron and for each Comparable Company was based on information obtained from Institutional Brokers Estimate System. The following table sets forth information concerning the overall ranges of Equity Value as a multiple of net income and tangible book value and the overall ranges of Aggregate ...
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Comparable Public Company Analysis. As part of its analysis, Bear Steaxxx xxxpared certain financial information of the Company with corresponding publicly available information of a group of five publicly-traded direct marketing companies that Bear Steaxxx xxxsidered comparable in certain respects with the Company. This group included: Blaix Xxxporation, Coldwater, DM, Lands' End and Lillxxx Xxxnxx (xxllectively, the "Bear Steaxxx' Xxmparable Companies"). Bear Steaxxx xxxlyzed the Offer Price by comparing certain market trading statistics for the Company with those of the Bear Steaxxx' Xxmparable Companies. The market trading information used in the ratios provided below is as of March 4, 1999. The market trading information used in the valuation analysis was enterprise value to projected 1999 EBITDA and EBIT, and market price to estimated 1999 earnings per share. All estimates for the Company were based on Management Projections.
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Comparable Public Company Analysis. In the course of its analysis, Bear Steaxxx xxxpared certain ratios and multiples of Herbalife to the corresponding ratios and multiples of certain publicly-traded companies that Bear Steaxxx xxxieved were generally comparable to Herbalife (the "Comparable Companies"). The Comparable Companies included Natrol, Inc., Nature's Sunshine Products, Inc., NBTY, Inc., Nu Skin Enterprises, Inc., Nutraceutical International Corporation, Rexall Sundown, Inc., Twinlab Corporation, USANA, Inc. and Weider Nutrition International, Inc. The multiples and ratios were calculated based on publicly available financial information and research reports, and were adjusted for certain extraordinary and non-recurring items. Financial data reviewed included revenue, earnings before interest, taxes, depreciation and amortization ("EBITDA"), earnings before interest and taxes ("EBIT"), net income and earnings per share ("EPS") for various time periods as well as certain operating margins, valuation statistics, financial ratios and projected growth rates. For purposes of its analysis, Bear Steaxxx xxxo reviewed the harmonic mean of certain valuation multiples of the Comparable Companies. Among other analyses, for each of the Comparable Companies, Bear Steaxxx xxxculated the ratio of their equity value as of September 9, 1999 plus debt less cash and cash equivalents ("Enterprise Value") to their respective revenues, EBITDA and EBIT during the most recent 12-month period ("LTM") and projected calendar 1999 and 2000 revenues, EBITDA and EBIT and the ratios of their stock prices as of September 9, 1999 to their respective LTM earnings per share and projected calendar year 1999 and 2000 earnings per share. References to "P/E" in the tables below refers to a price to EPS multiple.
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Comparable Public Company Analysis. A comparable public company analysis estimates value based on a comparison of the target company’s financial statistics with the financial statistics of public companies that are similar to the target company. It establishes a benchmark for asset valuation by deriving the value of “comparable” assets, standardized using a common variable such as revenues, earnings, and cash flows. The analysis includes a detailed multi-year financial comparison of each company’s income statement, balance sheet, and cash flow statement. In addition, each company’s performance, profitability, margins, leverage and business trends are also examined. Based on these analyses, a number of financial multiples and ratios are calculated to gauge each company’s relative performance and valuation. A key factor to this approach is the selection of companies with relatively similar business and operational characteristics to the target company. Criteria for selecting comparable companies include, among other relevant characteristics, similar lines of businesses, business risks, supply base, location of markets, growth prospects, market presence, size, and scale of operations. The selection of truly comparable companies is often difficult and subject to interpretation. However, the underlying concept is to develop a premise for relative value, which, when coupled with other approaches, presents a foundation for determining firm value. In performing the Comparable Public Company Analysis, the following publicly traded companies in the automotive industry were deemed generally comparable to the Debtor in some or all of the factors described above and were selected: A123 Systems, Inc., Altair Nantoechnologies, Inc., China BAK Battery, Inc., EnerSys, Highpower International, Inc., Exide Technologies, Ultralife Corp., and Valence Technology Inc. Hxxxxxxx Lxxxx excluded several companies that were deemed not comparable because of size and status of comparable companies, among other things. Hxxxxxxx Lxxxx analyzed the current and historical trading value for the comparable companies as a multiple of the last twelve months ending September 30, 2011, and projected fiscal year 2011 and projected fiscal year 2012 earnings. The derived multiples were applied to the Company’s earnings to determine the range of Enterprise Value.
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Related to Comparable Public Company Analysis

  • Research Analyst Independence The Company acknowledges that the Underwriters’ research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ research analysts may hold views and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the offering that differ from the views of their respective investment banking divisions. The Company hereby waives and releases, to the fullest extent permitted by law, any claims that the Company may have against the Underwriters with respect to any conflict of interest that may arise from the fact that the views expressed by their independent research analysts and research departments may be different from or inconsistent with the views or advice communicated to the Company by such Underwriters’ investment banking divisions. The Company acknowledges that each of the Underwriters is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities of the companies that may be the subject of the transactions contemplated by this Agreement.

  • Independent Analysis Each Party hereby confirms that its decision to execute this Agreement has been based upon its independent assessment of documents and information available to it, as it has deemed appropriate.

  • Investment Analysis and Implementation In carrying out its obligations under Section 1 hereof, the Advisor shall:

  • Annual Independent Certified Public Accountants' Reports The Servicer shall cause a firm of independent certified public accountants (who may also render other services to the Servicer, the Seller or to MMCA) to deliver to the Owner Trustee and the Indenture Trustee on or before March 31 of each year, commencing March 31, 2002, a report addressed to the Board of Directors of the Servicer with respect to the preceding calendar year (or such shorter period, with respect to the first such report) to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (1) was made in accordance with generally accepted auditing standards, (2) included tests relating to motor vehicle loans serviced for others in accordance with the requirements of the Uniform Single Attestation Program for Mortgage Bankers (the "Program"), to the extent the procedures in such Program are applicable to the servicing obligations set forth in this Agreement, and (3) except as described in the report, disclosed no exceptions or errors in the records relating to automobile and sports-utility vehicle loans serviced for others that such firm is required to report under the Program. Such report shall also indicate that the firm is independent with respect to the Seller and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. A copy of such report shall be delivered by the Indenture Trustee to each Noteholder, promptly following the Indenture Trustee's receipt of such report, pursuant to Section 7.4 of the Indenture. In addition, a copy of such report may be obtained by any Certificateholder by a request in writing to the Owner Trustee, or by any Person certifying that it is a Note Owner by a request in writing to the Indenture Trustee, in either case addressed to the applicable Corporate Trust Office.

  • Annual Independent Certified Public Accountants’ Report The Servicer shall cause a firm of independent certified public accountants, which may also render other services to the Servicer, the Seller or any other Affiliate of CNH Industrial, to deliver to the Issuing Entity, the Indenture Trustee and, subject to Section 10.18, the Rating Agencies on or before March 30 of each year a report, providing its assessment of compliance with the minimum servicing criteria during the preceding calendar year, including disclosure of any material instance of non-compliance, as required by Rule 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB. Such attestation will be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. The report required by this Section may be replaced, at the Servicer’s option, by any similar report or certification using standards which are now or in the future in use by servicers of comparable assets or which otherwise comply with any rule, regulation, “no action” letter or similar guidance promulgated by the Securities and Exchange Commission. In the event that such firm requires the Indenture Trustee to agree to the procedures performed by such firm, the Servicer shall direct the Indenture Trustee in writing to so agree; it being understood and agreed that the Indenture Trustee will deliver such letter of agreement in conclusive reliance upon the direction of the Servicer and the Indenture Trustee makes no independent inquiry or investigation as to, and shall have no obligation or liability in respect of, the sufficiency, validity or correctness of such procedures. Such report will also indicate that the firm is independent of the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants.

  • Statistical, Demographic or Market-Related Data All statistical, demographic or market-related data included in the Registration Statement, the Disclosure Package or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate and all such data included in the Registration Statement, the Disclosure Package or the Prospectus accurately reflects the materials upon which it is based or from which it was derived.

  • Financial Public Relations Firm Promptly after the execution of a definitive agreement for a Business Combination, the Company shall retain a financial public relations firm reasonably acceptable to the Representative for a term to be agreed upon by the Company and the Representative.

  • Pro Forma Financial Information The pro forma financial statements included in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus include assumptions that provide a reasonable basis for presenting the significant effects directly attributable to the transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments reflect the proper application of those adjustments to the historical financial statements amounts in the pro forma financial statements included in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus. The pro forma financial statements included in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus comply as to form in all material respects with the application requirements of Regulation S-X under the Exchange Act.

  • Annual Independent Certified Public Accountants’ Servicing Report Not later than March 1, 2006 and not later than March 1 of each year thereafter, the Master Servicer at its expense shall cause a firm of independent public accountants which is a member of the American Institute of Certified Public Accountants to furnish a statement to the Trustee and the Rating Agencies to the effect that, with respect to the preceding calendar year, such firm has examined certain documents and records relating to the Master Servicer’s servicing of mortgage loans of the same type as the Mortgage Loans pursuant to servicing agreements substantially similar to this Agreement, which agreements may include this Agreement, and that, on the basis of such an examination, conducted substantially in compliance with the Uniform Single Attestation Program for Mortgage Bankers, such firm is of the opinion that the Master Servicer’s servicing has been conducted in compliance with the agreements examined pursuant to this Section 3.14, except for (i) such exceptions as such firm shall believe to be immaterial,(ii) such other exceptions as shall be set forth in such statement and (iii) such exceptions that the Uniform Single Attestation Program for Mortgage Bankers requires it to report. Copies of such statements shall be provided to any Certificateholder upon request by the Master Servicer or by the Trustee at the Master Servicer’s expense if the Master Servicer failed to provide such copies (unless (i) the Master Servicer shall have failed to provide the Trustee with such statement or (ii) the Trustee shall be unaware of the Master Servicer’s failure to provide such statement).

  • Fund Valuation and Financial Reporting Services (1) Account for Fund share purchases, sales, exchanges, transfers, dividend reinvestments, and other Fund share activity as reported by the Fund’s transfer agent on a timely basis.

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