Again from S&P Rpt of 21 Mar 98
Quote
Outlook NA
Fair Value NA
Risk High
Earn/Div. Rank B+
Recent Price 12 5/8
52 Wk Range 30-10 1/8
Yield Nil
12 Mo P/E 30.1
Technical Eval Bearish since 2/98
Rel. Strength (1 lowest - 99 Highest) 3
Insider Activity NA
Business Summary - 03 MAR 98
Actrade International, Ltd. Is the parent company of two operating subsidiaries. Actrade Capital Inc., the financial services division, is engaged in the development and commercialization of its Trade Acceptance Draft (TAD) Program. Actrade Capital has become an increasingly important source of revenues over the past few years. Actrade International Corp. and its foreign subsidiary Actrade S.A., constitute the international trade division. Revenues in recent fiscal years (Jun.) were derived a follows:
Machinery/equipment exports FY97-50% FY96-66% FY95-77%
Trade Acceptance drafts FY97-50% FY96-34% FY95-23%
In 1993, Actrade Capital Inc., the company's fastest growing division, developed a system to finance and manage the accounts receivable of American companies through the use of Trade Acceptance Drafts (the TAD Program). The program is designed to allow the sellers of products or services to improve the management of their accounts receivable, improve cash flow and increase sales by allowing them to offer credit terms to their commercial customers through the use of pre-authorized debit drafts ("TADs"). Actrade Capital purchases these TADs, and on their due date, processes them for payment. Management believes that TADs are useful financial vehicles for firms of all sizes and that there are no other financial services programs in the U.S. that utilize trade acceptance drafts. ACRT has plans to expand the TAD Program to import/export activities and ultimately, to the international market.
Actrade International Corp. is engaged in international trade and focuses on exporting American products to the Middle East, South America, Europe and the Pacific Rim. Actrade International provides U.S. companies foreign markets for their products along with the ability to arrange required export services, which is a less expensive alternative to in-house export operations. Principal
export product lines include industrial and commercial air-conditioning equipment; computer systems, hardware and related peripheral equipment; and commercial and industrial machinery, ancillary equipment and spare parts.
Actrade S.A., a wholly owned subsidiary, participates in all phases of international trade except the sale of American products. This unit accounted for approximately 33% of total revenues in FY 97 (32% in FY 96). In January 1998, ACRT opened two regional offices in Houston and Kansas City. With the addition of these new offices, Actrade Capital, Inc. now has a total of six offices in strategic locations in the United States for operation of the TAD Program.
Long Term Debt: None (12/97). |
