[238] Specialty Trade Contractors

Sector: Construction

Sales Class: $5m - $9.99m

Firms Analyzed: 9,189

Contents P1: Income-Expense statement- dollar-based P2: Income-Expense statement- percentage-based P4: Balance Sheet- dollar-based P5: Balance Sheet- percentage-based Sources-Uses of Funds P6: Financial Ratios - Cash Flow-Solvency P8: Financial Ratios - Profitability P10: Financial Ratios - Efficiency-Debt-Risk P13: Financial Ratios- Turnover P15: About the Data

NAICS-6 industries Applied: 238110, 238120, 238140, 238150, 238160, 238170, 238190, 238210, 238220, 238290, 238310, 238320, 238330, 238340, 238350, 238390, 238910, 238990

See P2 notes on Business Receipts for financial industry exceptions.

Income and Expense- Profit and Loss ($)
2007 Business Revenue Cost of Sales Gross Margin Officers Comp Salary-Wages Rent Taxes Paid Advertising Benefits-Pensions Repairs Bad Debt Other SG&A Exp. EBITDA Amort-Deprec-Depl Operating Expenses Operating Income Interest Income Interest Expense Other Income Pre-Tax Net Profit Income Tax After Tax Net Profit 7,516,650 5,323,642 2,193,008 287,314 487,294 146,841 175,891 24,404 174,047 30,307 17,841 453,972 395,097 93,672 1,891,583 301,425 4,194 30,305 33,479 308,793 103,679 205,114 2008 7,479,110 5,223,637 2,255,473 301,977 485,728 157,221 174,215 35,472 169,867 32,709 14,177 459,887 424,220 103,655 1,934,908 320,565 3,782 30,794 26,977 320,529 108,256 212,273 2009 7,470,932 5,240,613 2,230,319 297,368 501,167 168,252 162,378 27,504 182,886 32,923 14,596 466,226 377,019 101,603 1,954,904 275,416 7,471 46,448 41,646 278,084 91,703 186,382 2010 7,643,874 5,262,822 2,381,052 308,058 508,449 163,910 139,283 31,691 182,967 38,124 19,326 452,826 536,417 112,058 1,956,692 424,360 1,580 37,013 57,244 446,171 151,698 294,473 2011 7,537,702 5,156,675 2,381,027 317,850 459,371 167,757 153,036 32,389 182,197 33,631 19,552 463,867 551,377 111,577 1,941,227 439,800 890 19,813 48,601 469,478 159,623 309,856

Dollar-based sales and other dollar-based data in this report reflect averages for sales of the industry segment, not total industrywide averages. As a result, sales levels may vary from year to year, depending on the mix of firms that fall within the selected segment.

Income and Expense- Profit and Loss %

2007 Business Revenue Cost of Sales Gross Margin Officers Comp Salary-Wages Rent Taxes Paid Advertising Benefits-Pensions Repairs Bad Debt Other SG&A Exp. EBITDA Amort-Deprec-Depl Operating Expenses Operating Income Interest Income Interest Expense Other Income Pre-Tax Net Profit Income Tax After Tax Net Profit 100.0% 70.82% 29.18% 3.82% 6.48% 1.95% 2.34% 0.32% 2.32% 0.40% 0.24% 6.04% 5.26% 1.25% 25.17% 4.01% 0.06% 0.40% 0.45% 4.11% 1.38% 2.73% 2008 100.0% 69.84% 30.16% 4.04% 6.49% 2.10% 2.33% 0.47% 2.27% 0.44% 0.19% 6.15% 5.67% 1.39% 25.87% 4.29% 0.05% 0.41% 0.36% 4.29% 1.45% 2.84% 2009 100.0% 70.15% 29.85% 3.98% 6.71% 2.25% 2.17% 0.37% 2.45% 0.44% 0.20% 6.24% 5.05% 1.36% 26.17% 3.69% 0.10% 0.62% 0.56% 3.72% 1.23% 2.49% 2010 100.0% 68.85% 31.15% 4.03% 6.65% 2.14% 1.82% 0.41% 2.39% 0.50% 0.25% 5.92% 7.02% 1.47% 25.60% 5.55% 0.02% 0.48% 0.75% 5.84% 1.98% 3.85% 2011 100.0% 68.41% 31.59% 4.22% 6.09% 2.23% 2.03% 0.43% 2.42% 0.45% 0.26% 6.15% 7.31% 1.48% 25.75% 5.83% 0.01% 0.26% 0.64% 6.23% 2.12% 4.11%

Business Revenue includes receipts from core business operations. Interest Income and Other income (such as rents and royalties) are generally detailed separately below Operating Income. While Business Revenue is separated from Interest Income for most classifications, Business Revenue includes interest income from the private sector where it is central to financial industry operations, including Finance and Insurance (NAICS 52xxxx except NAICS 5242xx Insurance Brokers and Other Insurance Activities); Real Estate-Rental-Leasing (53xxxx); and Management of Companies and Enterprises (55xxxxx). Cost of Sales includes materials and labor involved in the direct delivery of a product or service. Other costs are included in the cost of sales to the extent that they are involved in bringing goods to their location and condition ready to be sold. Non-production overheads such as development costs may be attributable to the cost of goods sold. The costs of services provided will consist primarily of personnel directly engaged in providing the service, including supervisory personnel and attributable overhead. Gross Margin represents direct operating expenses plus net profit. In addition to the labor portion of Cost of Sales, wage costs are reflected in the Officers Compensation and Wages-Salary line items. In many cases, SG&A (Sales, General and Administrative) costs also include some overhead, administrative and supervisory wages.

Rent covers the rental cost of any business property, including land, buildings and equipment. The Taxes paid line item includes payroll other paid-in tax items, but not business income taxes due for the period. Although it can be calculated in many ways and is a controversial measure, the EBITDA line item (Earnings before Interest Expense, income tax due, Depreciation and Amortization) adds back interest payments, depreciation, amortization and depletion allowances, and excludes income taxes due to reduce the effect of accounting decisions on the bottom line of the Profit and Loss Statement. Since some firms utilize EBITDA to "add back" non-cash and flexible expenses which may be altered through credits and accounting procedures (such as income tax), paid-in income taxes from the Taxes Paid line item are not added back in the EBITDA calculation. Pre-Tax Net Profit represents net profit before income tax due. Income Tax calculates the federal corporate tax rate before credits, leaving After-Tax Profit at the bottom line. Advertising includes advertising, promotion and publicity for the reporting business, but not on behalf of others. Benefits-Pension includes, but is not limited to, employee health care and retirement costs. In addition to varying proportions of overhead, administrative and supervisory wages, some generally more minor expenses are aggregated under SG&A (Sales, General and Administrative).
Operating Expenses sums the individual expense line items above, yielding the Operating Income or net of core business operations, when subtracted from the Gross Margin.

Balance Sheet - dollar-based Assets

Cash Receivables Inventory Other Current Assets Total Current Assets Gross Fixed Assets Accumulated Depreciation-Amortization-Depletion Net Fixed Assets Other Non-Current Assets Total Assets 2007 367,989 1,074,757 148,558 247,284 1,838,588 1,200,445 823,275 377,170 138,249 2,354,007 527,738 170,167 355,623 1,053,527 416,055 1,469,583 884,425 2,354,007 2008 412,059 1,027,990 150,476 250,136 1,840,661 1,437,510 985,856 451,654 146,660 2,438,974 491,134 166,466 411,694 1,069,294 418,379 1,487,672 951,302 2,438,974 2009 523,503 1,002,028 158,372 298,726 1,982,629 1,392,029 954,665 437,364 173,607 2,593,600 1,146,213 42,557 419,392 1,608,162 448,817 2,056,979 536,621 2,593,600 2010 530,431 1,048,376 136,145 216,296 1,931,247 1,321,643 906,394 415,249 280,235 2,626,731 421,234 135,213 385,526 941,973 405,597 1,347,570 1,279,161 2,626,731 2011 418,165 657,338 87,858 143,036 1,306,398 1,062,789 736,780 326,009 1,127,780 2,760,186 420,214 138,276 416,748 975,238 453,968 1,429,206 1,330,980 2,760,186

Liabilities
Accounts Payable Loans/Notes Payable Other Current Liabilities Total Current Liabilities Total Long Term Liabilities Total Liabilities Net Worth Total Liabilities & Net Worth

Cash: Money on hand in checking, savings or redeemable certificate accounts. Receivables: A short-term asset (to be collected within one year) in the form of accounts or notes receivable, and usually representing a credit for a completed sale or loan. Inventory: The stockpile of unsold products. Current Assets: The sum of a firm's cash, accounts and notes receivable, inventory, prepaid expenses and marketable securities which can be converted to cash within a single operating cycle. Fixed Assets: Long-term assets such as building and machinery, net of accumulated amortization-depreciation-depletion. Total Assets: The sum of current assets and fixed assets such as plant and equipment. Accounts Payable: Invoices due to suppliers within the current business cycle. Loans/Notes Payable: Loan amounts due to suppliers within the current business cycle. Current Liabilities: Measurable debt owed within one year, including accounts, loans and notes payable, accrued liabilities and taxes due. Long Term Liabilities: Debt which is due in more than one year, including the portion of loans and mortgages that become due after the current business cycle. Total Liabilities: Current Liabilities plus Long Term Liabilities such as notes and mortgages due over more than one year. Net Worth: Current assets plus fixed assets minus current and long-term liabilities.

Balance Sheet - percentage-based Assets

Cash Receivables Inventory Other Current Assets Total Current Assets Gross Fixed Assets Accumulated Depreciation-Amortization-Depletion Net Fixed Assets Other Non-Current Assets Total Assets 2007 15.63% 45.66% 6.31% 10.50% 78.10% 51.00% 34.97% 16.02% 5.87% 100.00% 22.42% 7.23% 15.11% 44.75% 17.67% 62.43% 37.57% 100.00% 2008 16.89% 42.15% 6.17% 10.26% 75.47% 58.94% 40.42% 18.52% 6.01% 100.00% 20.14% 6.83% 16.88% 43.84% 17.15% 61.00% 39.00% 100.00% 2009 20.18% 38.63% 6.11% 11.52% 76.44% 53.67% 36.81% 16.86% 6.69% 100.00% 44.19% 1.64% 16.17% 62.01% 17.30% 79.31% 20.69% 100.00% 2010 20.19% 39.91% 5.18% 8.23% 73.52% 50.32% 34.51% 15.81% 10.67% 100.00% 16.04% 5.15% 14.68% 35.86% 15.44% 51.30% 48.70% 100.00% 2011 15.15% 23.81% 3.18% 5.18% 47.33% 38.50% 26.69% 11.81% 40.86% 100.00% 15.22% 5.01% 15.10% 35.33% 16.45% 51.78% 48.22% 100.00%

Liabilities
Accounts Payable Loans/Notes Payable Other Current Liabilities Total Current Liabilities Total Long Term Liabilities Total Liabilities Net Worth Total Liabilities & Net Worth

The Balance Sheet reflects average balance sheet percentages and dollars for the industry segment analyzed. Liabilities, net worth and ratios are calculated for each industry segment and class, while asset line items are blended with the closest four digit industry segment. Sources & Uses of Funds Change in:
Cash and cash equivalents Worksheet: Accounts receivable Inventory Other Curr Assets Net Fixed Assets Other Non-Curr Assets Accounts payable Loans/Notes Payable Other Current Liabilities Long-term debt Net Worth Total Sources & Uses Cash: Beginning period Cash: End period Change in Cash & Cash equivalents -1,074,757 -148,558 -247,284 -377,170 -138,249 527,738 170,167 355,623 416,055 884,425 367,989 0 367,989 367,989 46,767 -1,918 -2,851 -74,484 -8,410 -36,604 -3,700 56,071 2,323 66,877 44,071 367,989 412,059 44,071 25,962 -7,896 -48,590 14,290 -26,947 655,080 -123,909 7,698 30,438 -414,681 111,444 412,059 523,503 111,444 -46,348 22,227 82,430 22,115 -106,628 -724,979 92,656 -33,866 -43,220 742,540 6,928 523,503 530,431 6,928 391,038 48,286 73,260 89,240 -847,545 -1,020 3,063 31,223 48,371 51,819 -112,266 530,431 418,165 -112,266 2006 367,989 2007 44,071 2008 111,444 2009 6,928 2010 -112,266

Sources and Uses: The Sources and Uses of Funds table tests the accuracy of the balance sheet and distinguishes the sources of funds from their use. It is the basic worksheet preliminary to a formal cash flow statement examining the liquidity of a business. A multi-year industry benchmark common size balance sheet, which includes overlapped but not identical sets of firms in each year, is not well-suited for the presentation of a formal cash flow analysis.

Financial Ratios: Cash Flow-Solvency

2007 Accounts Payable: Business Revenue (%) Current Liabilities: Inventory (%) Current Liabilities: Net Worth (%) Current Ratio (%) Days Payable (%) Quick Ratio (%) Total Liabilities: Net Worth (%) 7.02 7.09 1.19 1.75 36.19 1.37 1.66 2008 6.57 7.11 1.12 1.72 34.32 1.35 1.56 2009 15.34 10.15 3.00 1.23 79.82 0.95 3.83 2010 5.51 6.92 0.74 2.05 29.22 1.68 1.05 2011 5.57 11.10 0.73 1.34 29.74 1.10 1.07

Accounts Payable: Business Revenue: Accounts Payable divided by Annual Business Revenue, measuring the speed with which a company pays vendors relative to Business Revenue. Numbers higher than typical industry ratios suggest that the company may be using suppliers to float operations. Current Liabilities: Inventory: Current Liabilities divided by Inventory: A high ratio, relative to industry norms, suggests over-reliance on unsold goods to finance operations. Current Liabilities: Net Worth: Current Liabilities divided by Net Worth, reflecting a level of security for creditors. The larger the ratio relative to industry norms, the less security there is for creditors. Current Ratio: This is the same as Current Assets divided by Current Liabilities, measuring current assets available to cover current liabilities, a test of near-term solvency. The ratio indicates to what extent cash on hand and disposable assets are enough to pay off near term liabilities. The Quick Ratio is applied as a more stringent test. Days Payables: 365/(Cost of Sales: Accounts Payable ratio): Reflects the average number of days for each payable before payment is made. Quick Ratio: Cash plus Accounts Receivable, divided by Current Liabilities, indicating liquid assets available to cover current debt. Also known as the Acid Ratio. This is a harsher version of the Current Ratio, which balances short-term liabilities against cash and liquid instruments. Total Liabilities: Net Worth: Total liabilities divided by Net Worth. This ratio helps to clarify the impact of long-term debt, which can be seen by comparing this ratio with Current Liabilities: Net Worth. Creditors are concerned to the extent that total liability levels exceed Net Worth.

Cash Flow-Solvency Ratios:

Financial Ratios: Profitability

2007 EBITDA: Business Revenue (%) Pre-Tax Return On Assets (%) Pre-Tax Return on Net Worth (%) Pre-Tax Return on Business Revenue (%) After Tax Return on Assets (%) After Tax Return on Net Worth (%) After Tax Return on Business Revenue (%) 5.26 13.12 0.35 4.11 8.71 23.19 2.73 2008 5.67 13.14 0.34 4.29 8.70 22.31 2.84 2009 5.05 10.72 0.52 3.72 7.19 34.73 2.49 2010 7.02 16.99 0.35 5.84 11.21 23.02 3.85 2011 7.31 17.01 0.35 6.23 11.23 23.28 4.11

EBITDA: EBITDA: Business Revenue: Earnings Before Interest, (income) Taxes due, Depreciation and Amortization divided by Business Revenue. EBITDA: Business Revenue is a relatively controversial (and often criticized) metric designed to eliminate the effect of finance and accounting decisions when comparing companies and industry benchmarks. Tax credits and deferral procedures and non-cash expenditures (Amortization and Depreciation) are not deducted from the profit equation, as are interest expenditures. Return on Assets: Pre-Tax or After Tax Net Profit divided by Total Assets, a critical indicator of profitability. Companies which use their assets efficiently will tend to show a ratio higher than the industry norm. The ratio may appear higher for small businesses due to owner compensation draws accounted as net profit. Return on Net Worth: Pre-Tax or After Tax Net Profit divided by Net Worth. This is the 'final measure' of profitability to evaluate overall return. This ratio measures return relative to investment, how well a company leverages the investment in it. May appear higher for small businesses due to owner compensation draws accounted as net profit. Return on Business Revenue: Pre-Tax or After Tax Net Profit Net Profit divided by Annual Business Revenue, indicating the level of profit from each dollar of Business Revenue. This ratio can be used as a predictor of the company's ability to withstand changes in prices or market conditions. May appear higher for small businesses due to owner compensation draws accounted as net profit.

Profitability Ratios

Financial Ratios: Efficiency-Debt-Risk:

2007 Assets: Business Revenue Cost of Sales: Accounts Payable Cost of Sales: Inventory Days Inventory Days Receivables Days Working Capital EBITDA: Interest Expense Fixed Assets: Net Worth Gross Margin: Business Revenue Net Working Capital: Business Revenue 0.31 10.09 35.84 10.18 52.19 38.12 13.04 0.43 0.29 0.10 2008 0.33 10.63 34.71 10.52 50.17 37.65 13.78 0.47 0.30 0.10 2009 0.35 4.57 33.07 11.04 48.95 18.28 8.12 0.81 0.30 0.05 2010 0.34 12.49 38.68 9.44 50.06 47.24 14.49 0.32 0.31 0.13 2011 0.37 12.27 58.75 6.21 31.82 16.04 27.83 0.24 0.32 0.04

Assets: Business Revenue: Total Assets divided by Net Business Revenue, indicating whether a company is handling too high a volume of Business Revenue in relation to investment. Very low percentages relative to industry norms might indicate overly conservative sales efforts or poor sales management. Cost of Sales:Accounts Payable: Measures the number of times payables turn over in the course of the year. High measures may indicate cash flow concerns. Cost of Sales: Inventory: Reflects the number of times inventory is turned over during the course of the year. High levels can mean good liquidity or Business Revenue, or shortages requiring better management. Low levels may indicate poor cash flow or overstocking. Days Inventory: 365/(Cost of Sales: Inventory): The average number of days of items in inventory. Days Receivables: 365/ (Receivables Turnover): Reflects the number of days that receivables are outstanding. Target average or lower. Days Working Capital: 365/ (Working Capital Turnover): Expresses the coverage in number of days of available working capital. EBITDA: interest expense: Earnings before Interest, (income) Taxes due, Depreciation and Amortization divided by Interest expense. Assesses financial stability by examining whether a company is at least profitable enough to pay interest expense. A ratio >1.00 indicates it is. See cautions in the listing for EBITDA. Fixed Assets: Net Worth: Fixed Assets divided by Net Worth. High ratios relative to the industry can indicate low working capital or high levels of debt. Gross Margin: Business Revenue: Pre-tax profits divided by Annual Business Revenue. This is the profit ratio before product and Business Revenue costs, as well as taxes. This ratio can indicate the "play" in other expenses which could be adjusted to increase the Net Profit margin. Net Working Capital: Business Revenue: Net Working Capital divided by Business Revenue. Indicates if a company is maintaining a reasonable level of liquidity relative to its Business Revenue volume. A high ratio indicate an overly conservative reliance on liquid assets, while low ratios suggests the opposite.

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Efficiency-Debt-Risk Ratios

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Financial Ratios: Turnover:

2007 Cash Turnover (X) Current Asset Turnover Fixed Asset Turnover Inventory Turnover (X) Receivables Turnover (X) Total Asset Turnover (X) Working Capital Turnover (X) 20.43 4.09 19.93 50.60 6.99 3.19 9.57 2008 18.16 4.06 16.56 49.70 7.28 3.07 9.69 2009 14.27 3.77 17.08 47.14 7.46 2.88 19.96 2010 14.41 3.96 18.41 56.18 7.29 2.91 7.73 2011 18.03 5.77 23.12 85.88 11.47 2.73 22.76

Cash Turnover: Business Revenue divided by Cash. Indicates efficiency in the use of cash to develop Business Revenue . A more stringent ratio than Working Capital Turnover (below). Target at or slightly below industry level. Current Asset Turnover: Business Revenue divided by Current Assets. A general indicator of the efficiency of asset use. Target at or slightly below industry level. Fixed Asset Turnover: Business Revenue divided by Fixed Assets. An indicator of the efficiency of investment in fixed asset such as plant and equipment. Target at or slightly below industry level. Inventory Turnover: Business Revenue divided by Inventory. This ratio gives a picture of how quickly inventory turns over. Ratios below the industry norm suggest high levels of inventory. High ratios could indicate product levels insufficient to satisfy demand in a timely manner. Target: at or slightly above industry level. Receivables Turnover: Business Revenue divided by Receivables. An indicator of how efficiently invoiced sales are collected. Target at or slightly above industry level. Total Asset Turnover: Business Revenue divided by Total Assets. Target: at or slightly below industry level. Working Capital Turnover: Business Revenue divided by Net Working Capital (current assets minus current liabilities). Ratios higher than industry norms may indicate a strain on available liquid assets, while low ratios may suggest too much liquidity. Target: at or above industry level.

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Turnover Ratios

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About the Data Raw data analyzed for BizMiner reports is sourced from an array of the nation's government and private statistical sources. None of these raw data sources creates the final measures reflected in BizMiner industry profiles. In total, BizMiner accesses over a billion sourced data points from 15 million business operations for each of its twice annual updates covering a 3-5 year time series. Historical data and BizMiner algorithms are used to inform and test projections for non-reporting firms. Data elements are sourced specifically from: - IRS SOI Corporation Income Tax Returns - IRS SOI Corporation Tax Book - IRS SOI 1040 Schedule C Income Tax Returns - IRS SOI Statistics of Income- Individual Tax Statistics - US Economic Census of Manufactures - US Census Economy Overview - US Census Annual Survey of Manufactures - US Census Annual Retail Trade Survey - US Census Annual Wholesale Trade Survey - US Census Quarterly Financial Reports - US Census County Business Patterns - Bureau of Labor Statistics Monthly Employment Reports - Bureau of Labor Statistics Monthly Unemployment Reports - US Census Wholesale Trade Report - US Census Quarterly (New Housing) Sales by Price and Financing - US Census Total Construction Spending - US Census Retail Trade Report - US Census Quarterly Services Survey - Commercial Real Estate Survey - Credit Reporting Agencies - InfoGroup, Inc. - Business Directories While 100% firm coverage is desirable for analysis purposes, the greatest value of BizMiner reports rests in discerning patterns of activity, which are reflected in the large samples used to develop our reports. The overall current coverage of the databases surpasses 13 million active business operations at any point in time. As is the case with any databases this large, some errors are inevitable. Some firms are missed and specific information on others is lacking from the database. Not all information received is uniform or complete, resulting in the need to develop projection algorithms for specific industry segments and metrics in some report series. No representation is made as to the accuracy of the databases utilized or the results of subsequent analyses. Neither the Brandow Company nor its resellers has undertaken independent primary research to confirm the accuracy of the data utilized in the Profile analyses. Neither the Brandow Company nor its resellers are responsible for conclusions drawn or decisions made based upon this data or analysis. In no event will the Brandow Company or its resellers be liable for any damages, direct, indirect, incidental or consequential resulting from the use of the information contained in BizMiner reports.

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