D&B Comprehensive Report: GORMAN MANUFACTURING COMPANY, INC.

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Report Printed: AUG 25 2008

Overview

Business Summary

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Payment Trends Profile
Payment trends and industry benchmarks

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GORMAN MANUFACTURING COMPANY, INC.
492 Koller Street
San Francisco, CA 94110

D&B D-U-N-S Number:

80-473-5132

Do not confuse with other Gorman companies, this is a fictitious company used by D&B for demonstration purposes.
This is a headquarters location.
Branch(es) or division(s) exist.


Telephone:	650 555-0000



Manager:	LESLIE SMITH, PRES



Year started:	1985


Employs:	152 (110 here)

Financial statement date:	DEC 31 2007


Sales F:	$29,665,950


Net worth F:	$2,026,635


History:	CLEAR


Financial condition:	FAIR

SIC:	2752


Line of business:	Lithographic commercial printing

Credit Score Class: 5

High risk of severe payment delinquency over next 12 months

Financial Stress Class: 2

Moderate risk of severe financial stress over the next 12 months

12-Month D&B PAYDEX®: 54

When weighted by dollar amount, payments to suppliers average 27 days beyond terms.

D&B Rating:

3A4

Financial strength:

3A is $1 to 10 million.

Composite credit appraisal:

4 is limited.

Executive Summary

The Financial Stress Class of 2 for this company shows that firms with this classification had a failure rate of 4.9% (490 per 10,000), which is 1.88 times higher than the average of businesses in D&B's database.

The Credit Score class of 5 for this company shows that 61.9% of firms with this classification paid one or more bills severely delinquent, which is 3.08 times higher than the average of businesses in D&B's database.

Financial information from a fiscal consolidated statement dated 12/31/07 is included.

Predictive Scores	This Business	Comments
Financial Stress Class	2	Failure Rate 1.88 times higher than the average of businesses in D&B's database.
Financial Stress Score	1308	Highest Risk: 1,001; Lowest Risk: 1,875
Credit Score Class	5	Probability of Severely Delinquent Payment is higher than the average of businesses in D&B's database
Credit Score	239	Highest Risk: 101; Lowest Risk: 670

Other Key Indicators
PAYDEX Scores	27 days beyond terms	Pays more slowly than the average for its industry of 5 days beyond terms
Industry Median	5 days beyond terms
Sales	Fiscal year ending December 2007	Up by 7.7% from last year
Net Worth	Fiscal year ending December 2007	Down by 22.1% from last year
Present management control	23 years
UCC Filings	UCC filing(s) are reported for this business
Public Filings	Evidence of open liens and judgement in the D&B database
History	Is clear
Special Events	Are reported for this business

Credit Capacity Summary

D&B Rating:		3A4

	Financial strength:	3A indicates $1 to 10 million.

	Composite credit appraisal:	4 is limited.

This credit rating was assigned because of D&B's assessment of the company's financial ratios and its cash flow. For more information, see the D&B Rating Key.


Sales:	$29,665,950
# of Employees Total:	152 (110 here)

As of 12/31/07
Worth:	$2,026,635
Working Capital:	$2,787,529


Payment Activity: (based on 51 experiences)

Average High Credit:	$15,303
Highest Credit:	$85,000
Total Highest Credit:	$444,900

Note: The Worth amount in this section may have been adjusted by D&B to reflect typical deductions, such as certain intangible assets.

Special Events

03/19/2008

OTHER SPECIAL EVENT: As previously reported on Feb 4, 2008, Gorman Manufacturing announced that it will open a branch sales location in Santa Barbara, CA by the end of 2008.

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Scores

Financial Stress Summary

The Financial Stress Summary Model predicts the likelihood of a firm ceasing business without paying all creditors in full, or reorganization or obtaining relief from creditors under state/federal law over the next 12 months. Scores were calculated using a statistically valid model derived from D&B's extensive data files.

Financial Stress Class: 2
Moderate risk of severe financial stress, such as a bankruptcy, over the next 12 months.

Incidence of Financial Stress
Among Businesses with this Class:	4.90% (490 per 10,000)
Average of Businesses in D&B's Database:	2.60% (260 per 10,000)

Financial Stress National Percentile: 18

(Highest Risk: 1; Lowest Risk: 100)

Financial Stress Score: 1308

(Highest Risk: 1,001; Lowest Risk: 1,875)

The Financial Stress Score of this business is based on the following factors:

23% of trade dollars indicate slow payment(s) are present.
Payment information indicates negative payment comments.
Payment experiences exist for this firm which are greater than 60 days past due.

Notes:

The Financial Stress Class indicates that this firm shares some of the same business and financial characteristics of other companies with this classification. It does not mean the firm will necessarily experience financial stress.
The Incidence of Financial Stress shows the percentage of firms in a given Class that discontinued operations with loss to creditors. The Average Incidence of Financial Stress is based on businesses in D&B's database and is provided for comparative purposes.
The Financial Stress National Percentile reflects the relative ranking of a company among all scorable companies in D&B's file.
The Financial Stress Score offers a more precise measure of the level of risk than the Class and Percentile. It is especially helpful to customers using a scorecard approach to determining overall business performance.
All Financial Stress Class, Percentile, Score and Incidence statistics are based on sample data from 2004.


Norms	National %

This Business	18
Region: PACIFIC	50
Industry: MANUFACTURING	52
Employee Range: 100-499	99
Years in Business: 11-25	52

This business has a Financial Stress Percentile that shows:

Higher risk than other companies in the same region.
Higher risk than other companies in the same industry.
Higher risk than other companies in the same employee size range.
Higher risk than other companies with a comparable number of years in business.

Credit Score Class Summary

The Credit Score Class predicts the likelihood of a firm paying in a severely delinquent manner (90+ Days Past Terms) over the next twelve months. It was calculated using statistically valid models and the most recent payment information in D&B's files.

Credit Score Class: 5
High risk of severe payment delinquency over next 12 months.

Incidence of Delinquent Payment
Among Companies with this Class:	61.90%
Average Compared to Businesses in D&B's Database:	20.10%

Credit Score Percentile: 3

(Highest Risk: 1; Lowest Risk: 100)

Credit Score: 239

(Highest Risk: 101; Lowest Risk: 670)

The Credit Score of this business is based on the following factors:

Payment information indicates negative payment comments.
23% of trade dollars indicate slow payment(s) are present.
Payment experiences exist for this firm which are greater than 60 days past due.
Business does not own facilities.

Notes:

The Credit Score Class indicates that this firm shares some of the same business and payment characteristics of other companies with this classification. It does not mean the firm will necessarily experience delinquency.
The Incidence of Delinquent Payment is the percentage of companies with this classification that were reported 90 days past due or more by creditors. The calculation of this value is based on an inquiry weighted sample.
The Percentile ranks this firm relative to other businesses.For example, a firm in the 80th percentile has a lower risk of paying in a severely delinquent manner than 79% of all scorable companies in D&B's files.
The Credit Score offers a more precise measure of the level of risk than the Class and Percentile. It is especially helpful to customers using a scorecard approach to determining overall business performance.
All Credit Class, Percentile, Score and Incidence statistics are based on sample data from 2004.


Norms	National %

This Business	3
Region: PACIFIC	52
Industry: MANUFACTURING	57
Employee Range: 100-499	75
Years in Business: 11-25	64

This business has a Credit Score Percentile that shows:

Higher risk than other companies in the same region.
Higher risk than other companies in the same industry.
Higher risk than other companies in the same employee size range.
Higher risk than other companies with a comparable number of years in business.

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Payments

Payment Trends

Total Payment Experiences in D&B's File:	51
Payments Within Terms: (not dollar weighted)	29%
Total Placed For Collection:	15
Average Highest Credit:	$15,303
Largest High Credit:	$85,000
Highest Now Owing:	$85,000
Highest Past Due:	$50,000

Current PAYDEX is:	54	equal to 27 days beyond terms
Industry Median is:	77	equal to 5 days beyond terms
Payment Trend currently is:		up, compared to payments three months ago

Indications of slowness can be the result of dispute over merchandise, skipped invoices, etc. Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed.

PAYDEX Scores

Shows the D&B PAYDEX scores as calculated on the most recent 3 months and 12 months of payment experiences.

The D&B PAYDEX is a unique, dollar weighted indicator of payment performance based on up to payment experiences as reported to D&B by trade references. A detailed explanation of how to read and interpret PAYDEX scores can be found at the end of this report.

3-Month D&B PAYDEX: 77
When weighted by dollar amount, payments to suppliers average 5 days beyond terms.

Based on payments collected over last 3 months.

12-Month D&B PAYDEX: 54
When weighted by dollar amount, payments to suppliers average 27 days beyond terms.

Based on payments collected over last 12 months.

PAYDEX Yearly Trend

12 Month PAYDEX Scores Comparison to Industry

	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08	7/08	8/08
This Business	40	41	41	41	41	44	45	46	47	47	50	54
Industry Quartiles
Upper	80			80			80			80
Median	76			77			77			77
Lower	68			68			69			69

Shows the trend in D&B PAYDEX scoring over the past 12 months.

PAYDEX

Sep-
'07

Oct-
'07

Nov-
'07

Dec-
'07

Jan-
'08

Feb-
'08

Mar-
'08

Apr-
'08

May-
'08

Jun-
'08

Jul-
'08

Aug-
'08

Last 12 Months

Based on payments collected over the last 12 months.

- Current PAYDEX for this Business is 54, or equal to 27 days beyond terms

- The 12-month high is 54, or equal to 27 days beyond terms

- The 12-month low is 40, or equal to 60 days beyond terms

PAYDEX Comparison to Industry

Shows PAYDEX scores of this Business compared to the Primary Industry from each of the last four quarters. The Primary Industry is Lithographic commercial printing, based on SIC code 2752.

Quarterly PAYDEX Scores Comparison to Industry

Previous Year

	9/06	12/06	3/07	6/07
This Business	42	42	41	40
Industry Quartiles
Upper	80	80	80	80
Median	77	77	76	76
Lower	70	69	68	68

Current Year

	9/07	12/07	3/08	6/08
This Business	40	41	45	47
Industry Quartiles
Upper	80	80	80	80
Median	76	77	77	77
Lower	68	68	69	69

PAYDEX


Q3 2007	Q4 2007	Q1 2008	Q2 2008

Last 12 Months

Based on payments collected over the last 4 quarters.

Score Comparison Key:

This Business

Industry upper quartile

Industry median

Industry lower quartile

- Current PAYDEX for this Business is 54, or equal to 27 days beyond terms

- The present industry median score is 77, or equal to 5 days beyond terms.

- Industry upper quartile represents the performance of the payers in the 75th percentile

- Industry lower quartile represents the performance of the payers in the 25th percentile

Payment Habits

For all payment experiences within a given amount of credit extended, shows the percent that this Business paid within terms. Provides number of experiences used to calculate the percentage, and the total dollar value of the credit extended.

$ Credit Extended

% of Payments Within Terms

# Payment
Experiences

$ Total
Dollar Amount

Based on payments collected over the last 12 months.

Payment experiences reflect how bills are met in relation to the terms granted. In some instances, payment beyond terms can be the result of disputes over merchandise, skipped invoices, etc.

Payment Summary

The Payment Summary section reflects payment information in D&B's file as of the date of this report.

There are 51 payment experiences in D&B's file for the most recent 12 months, with 6 experiences reported during the last three month period.

Below is an overview of the company's dollar-weighted payments, segmented by its suppliers' primary industries:

	Total Rcv'd (#)	Total Dollar Amts ($)	Largest High Credit ($)	Within Terms (%)	Days Slow <31 31-60 61-90 90> (%)

The highest Now Owes on file is $85,000 The highest Past Due on file is $50,000

Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed. Indications of slowness can be result of dispute over merchandise, skipped invoices, etc.

Payment Details

Detailed payment history

Date Reported (mm/yy)	Paying Record	High Credit ($)	Now Owes ($)	Past Due ($)	Selling Terms	Last Sale Within (months)

Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed.

Payment experiences reflect how bills are met in relation to the terms granted. In some instances payment beyond terms can be the result of disputes over merchandise, skipped invoices etc.

Each experience shown is from a separate supplier. Updated trade experiences replace those previously reported.

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Public Filings

Public Filings

The following data includes both open and closed filings found in D&B's database on the subject company.

Record Type	# of Records	Most Recent Filing Date
Bankruptcy Proceedings	0	-
Judgments	2	01/01/2008
Liens	4	12/14/2001
Suits	3	01/01/2008
UCC's	3	04/18/2006

The following Public Filing data is for information purposes only and is not the official record. Certified copies can only be obtained from the official source.

Judgments

Liens


A lienholder can file the same lien in more than one filing location. The appearance of multiple liens filed by the same lienholder against a debtor may be indicative of such an occurrence.

Suits


If it is indicated that there are defendants other than the report subject, the lawsuit may be an action to clear title to property and does not necessarily imply a claim for money against the subject.

UCC Filings

The public record items contained in this report may have been paid, terminated, vacated or released prior to the date this report was printed.

Government Activity


Activity summary
	Borrower (Dir/Guar):	NO
	Administrative debt:	NO
	Contractor:	NO
	Grantee:	NO
	Party excluded from federal program(s):	NO

Possible candidate for socio-economic program consideration
	Labor surplus area:	N/A
	Small Business:	N/A
	8(A) firm:	N/A

The details provided in the Government Activity section are as reported to Dun & Bradstreet by the federal government and other sources.

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History & Operations

History

The following information was reported 03/19/2008:

Officer(s):

LESLIE SMITH, PRES

KEVIN J HUNT, SEC-TREAS

DIRECTOR(S):

THE OFFICER(S)

This is a Corporation formed in the State of California on May 21, 1985.

Business started 1985 by Leslie Smith and Kevin J Hunt. 60% of capital stock is owned by Leslie Smith. 40% of capital stock is owned by Kevin J Hunt.

LESLIE SMITH born 1946. Graduated from the University of California, Los Angeles, CA, in June 1967 with a BS degree in Business Management. 1967-85 General Manager for Raymor Printing Co, San Francisco, CA. 1985 formed subject with Kevin J Hunt. 1985 to present active as Principal in Gorman Affiliate Ltd, San Francisco, CA.

KEVIN J HUNT born 1945. Graduated from Northwestern University, Evanston, IL in June 1966. 1966-1985 was General Manager for Raymor Printing Co, San Francisco, CA. 1985 formed subject with Leslie Smith. 1985 to present active as Principal in Gorman Affiliate Ltd, San Francisco, CA.

AFFILIATE:
The following is related through common principals, management and/or ownership. Gorman Affiliate Ltd, San Francisco, CA, started 1985. Operates as commercial printer. Intercompany relations: None reported by management.

Corporate Family

Business Registration

CORPORATE AND BUSINESS REGISTRATIONS PROVIDED BY MANAGEMENT OR OTHER SOURCE

The Corporate Details provided below may have been submitted by the management of the subject business and may not have been verified with the government agency which records such data.

Registered Name:

Gorman Manufacturing Company, Inc.



Business type:	CORPORATION


Corporation type:	PROFIT


Date incorporated:	MAY 21 1985


State of incorporation:	CALIFORNIA


Filing date:	MAY 21 1985


Registration ID:	testcase102


Common stock

Authorized shares:	200

Par value:


Where filed:	SECRETARY OF STATE/CORPORATIONS DIVISION, SACRAMENTO, CA

Operations


03/19/2008

Description:	Engaged in commercial lithographic printing (100%).

	Terms are Net 30 days. Has 280 account(s). Sells to commercial concerns. Territory : United States.

	Nonseasonal.

Employees:	152 which includes officer(s). 110 employed here.

Facilities:	Occupies premises in a one story cinder block building.

Location:	Central business section on well traveled street.

Branches:	This business has multiple branches, detailed branch/division information is available in D&B's linkage of family tree products.

Subsidiaries:	This business has 2 subsidiaries listed below.

	The extent of ownership where known, is shown in parenthesis following company name:

	Gorman Poster Printing Inc, San Francisco, CA (100%) chartered 2003. Operates as a poster printing company.

	Gorman Catalog Printing Inc, San Francisco, CA (100%) chartered 2003. Operates as a catalog printing company.

SIC & NAICS

SIC:
Based on information in our file, D&B has assigned this company an extended 8-digit SIC. D&B's use of 8-digit SICs enables us to be more specific to a company's operations than if we use the standard 4-digit code. The 4-digit SIC numbers link to the description on the Occupational Safety & Health Administration (OSHA) Web site. Links open in a new browser window.
27520000	Commercial printing, lithographic

NAICS:
323110	Commercial Lithographic Printing

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Banking & Finance

Key Business Ratios

Statement date:	DEC 31 2007
Based on this number of establishments:	46

Industry Norms based on 46 establishments

	This Business	Industry Median	Industry Quartile
Profitability
Return on Sales	( 1.9)	2.6	4
Return on Net Worth	( 28.4)	15.0	4
Short-Term Solvency
Current Ratio	1.3	1.3	2
Quick Ratio	0.8	0.9	3
Efficiency
Assets Sales	44.5	58.6	1
Sales / Net Working Capital	10.6	14.5	3
Utilization
Total Liabs / Net Worth	552.1	188.0	4

Finance

03/19/2008

Three-year statement comparative:

	Fiscal Consolidated Dec 31 2005	Fiscal Consolidated Dec 31 2006	Fiscal Consolidated Dec 31 2007

Current Assets	9,795,692	10,220,470	11,046,076
Current Liabs	6,343,540	8,086,626	8,258,547
Current Ratio	1.54	1.26	1.34
Working Capital	3,452,152	2,133,844	2,787,529
Other Assets	2,355,579	2,474,395	2,169,732
Net Worth	3,652,233	2,602,614	2,026,635
Sales	24,665,005	27,556,720	29,665,950
Long Term Liab	2,155,498	2,005,625	2,930,626
Net Profit (Loss)	90,073	(1,049,619)	(575,979)

Fiscal Consolidated statement dated DEC 31 2007:


Assets				Liabilities
	Cash		1,032,626		Accts Pay		4,116,119
	Accts Rec		5,436,724		Notes Pay		625,722
	Inventory		2,956,720		L.T. Liab-(1yr)		2,400,185
	Other Curr Assets		1,620,006		Other Curr Liabs		1,116,521
	Curr Assets	$11,046,076			Curr Liabs	$8,258,547
	Fixt & Equip		1,462,060		L.T. Liab-Other		2,930,626
	Intangibles		61,030		COMMON STOCK		50,000
	Other Assets		646,642		RETAINED EARNINGS		1,976,635
	Total Assets	$13,215,808			Total	$13,215,808

From JAN 01 2006 to DEC 31 2006 annual sales $29,665,950; cost of goods sold $24,622,805. Gross profit $5,043,145; operating expenses $5,550,620. Operating income $(507,475); other expenses $38,720; net income before taxes $(546,195); Federal income tax $29,784. (net loss) $575,979.

Prepared from statement(s) by Accountant: Johnson, Jordan & Jones CPAs.

ACCOUNTANT'S OPINION

A review of the accountant's opinion indicates the financial statements meet generally accepted accounting principles and that the audit contains no qualifications.

Fixed assets shown net less $765,620 depreciation.

On MAR 19 2008 Leslie Smith, Pres, submitted the above figures.

Customer Service

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*** Additional Decision Support Available ***

Additional D&B products, monitoring services and specialized investigations are available to help you evaluate this company or its industry. Call Dun & Bradstreet's Customer Resource Center at 1.800.234.3867 from anywhere within the U.S. or visit our website at www.dnb.com.

For more details on the Corporate Family, view the interactive global family tree

Subsidiaries (US): Select businesses below to buy Comprehensive Report(s).
	Gorman Catalog Printing Inc	San Francisco, CA	DUNS # 05-963-3730
	Gorman Poster Printing Inc	San Francisco, CA	DUNS # 05-806-3731