Exhibit 1
Harris Ametek Anheuser Apple
06/29/07 12/31/06 12/31/06 09/30/06
Income Statement
Sales $4,243.00 $1,819.30 $15,717.10 $19,315.00
Cost of Goods $2,871.10 $1,251.90 $10,165.00 $13,717.00
Gross Margin (GM) $1,371.90 $567.40 $5,552.10 $5,598.00
R&D $269.30 $88.00 $ - $712.00
Marketing $ - $ - $ - $ -
G&A $561.40 $170.40 $2,832.50 $2,433.00
Total SG&A $830.70 $258.40 $2,832.50 $3,145.00
EBIT $541.20 $309.00 $2,719.60 $2,453.00
Taxes, Int., etc. $60.80 $127.10 $1,343.20 $464.00
Net Income $480.40 $181.90 $1,376.40 $1,989.00
Depr. & Amort. $135.20 $45.90 $988.70 $225.00
EBITDA $676.40 $354.90 $3,708.30 $2,678.00
Balance Sheet
Cash $429.20 $58.20 $219.20 $10,110.00
Receivables $748.50 $328.80 $720.20 $1,252.00
Inventory $347.10 $236.80 $694.90 $270.00
Other Current $304.00 $60.30 $195.20 $2,877.00
PP&E (Net) $459.20 $258.00 $8,916.10 $1,281.00
Other Non-current $2,118.00 $1,188.80 $5,631.60 $1,415.00
Total Assets $4,406.00 $2,130.90 $16,377.20 $17,205.00
Payables $350.00 $160.60 $1,426.30 $3,390.00
Other Short Term $1,288.10 $320.30 $819.80 $3,081.00
Non-current $864.10 $683.30 $10,192.40 $750.00
Total Liabilities $2,502.20 $1,164.20 $12,438.50 $7,221.00
Equity $1,903.80 $966.70 $3,938.70 $9,984.00
Total Liab. and Equity $4,406.00 $2,130.90 $16,377.20 $17,205.00
Market Capitalization $8,030.70 $4,672.70 $37,584.90 $135,709.80
P/E Ratio 16.7 25.7 27.3 68.2
Price/Sales 1.9 2.6 2.4 7
5 Yr Sales Growth 18.2 12.3 4 29.2
Ind. 5 Yr Sales Growth 9.3 8.7 7 23.9
5 Yr NI Growth 40.7 22.4 2.9 95
Ind. 5 Yr NI Growth 12.3 31.5 9.6 5.1
GM/Sales 32.30% 31.20% 35.30% 29.00%
EBIT/Sales 12.80% 17.00% 17.30% 12.70%
EBITDA/Sales 15.90% 19.50% 23.60% 13.90%
ROE 25.20% 18.80% 34.90% 19.90%
ROS 11.30% 10.00% 8.80% 10.30%
Speed (Asset Turnover) 0.96 0.85 0.96 1.12
Return on Assets 10.90% 8.50% 8.40% 11.60%
RONWC 32.50% 34.80% 341.40% 17.90%
GMRONWC% 184.00% 140.10% -49572.30% -299.70%
# of Employees 16,000 10,400 30,183 17,787
Revenue/Employee $265,188 $174,932 $520,727 $1,085,905
GM/Employee $85,744 $54,555 $183,948 $314,724
EBIT/Employee $33,825 $29,712 $90,104 $137,910
R&D/Sales 6.30% 4.80% 0.00% 3.70%
Marketing/Sales 0.00% 0.00% 0.00% 0.00%
G&A/Sales 13.20% 9.40% 18.00% 12.60%
SG&A/Sales 19.60% 14.20% 18.00% 16.30%
R&D/GM 19.60% 15.50% 0.00% 12.70%
Marketing/GM 0.00% 0.00% 0.00% 0.00%
G&A/GM 40.90% 30.00% 51.00% 43.50%
SG&A/GM 60.60% 45.50% 51.00% 56.20%
Receivable Turnover 5.7 5.5 21.8 15.4
Inventory Turnover 8.3 5.3 14.6 50.8
Asset Turnover 1 0.9 1 1.1
Receivable Days 64.4 66 16.7 23.7
Inventory Days 44.1 69 25 7.2
Payable Days 44.5 46.8 51.2 90.2
NWC Days 64 88.2 -9.5 -59.4
AstraZeneca Best Buy Boeing
12/31/06 03/30/07 12/31/06
$26,475.00 $35,934.00 $61,530.00
$5,559.00 $27,165.00 $50,437.00
$20,916.00 $8,769.00 $11,093.00
$3,902.00 $ - $3,257.00
$ - $ - $ -
$8,798.00 $6,770.00 $4,171.00
$12,700.00 $6,770.00 $7,428.00
$8,216.00 $1,999.00 $3,665.00
$3,824.00 $622.00 $1,459.00
$4,392.00 $1,377.00 $2,206.00
$1,345.00 $509.00 $1,545.00
$9,561.00 $2,508.00 $5,210.00
$7,760.00 $3,793.00 $6,386.00
$6,159.00 $548.00 $5,655.00
$2,250.00 $4,028.00 $8,105.00
$767.00 $712.00 $2,837.00
$7,453.00 $2,938.00 $7,675.00
$5,543.00 $1,551.00 $21,136.00
$29,932.00 $13,570.00 $51,794.00
$3,482.00 $3,934.00 $16,201.00
$5,965.00 $2,367.00 $13,500.00
$5,181.00 $1,068.00 $17,354.00
$14,628.00 $7,369.00 $47,055.00
$15,304.00 $6,201.00 $4,739.00
$29,932.00 $13,570.00 $51,794.00
$76,755.00 $22,496.00 $83,424.90
17.5 16.3 37.8
2.9 0.6 1.4
10.3 15.2 1.1
7.1 18.1 8.4
26.3 19.3 -4.8
6.9 27.6 58.4
79.00% 24.40% 18.00%
31.00% 5.60% 6.00%
36.10% 7.00% 8.50%
28.70% 22.20% 46.50%
16.60% 3.80% 3.60%
0.88 2.65 1.19
14.70% 10.10% 4.30%
32.60% 26.80% 32.50%
424.50% 1365.90% -454.40%
66,800 140,000 154,000
$396,332 $256,671 $399,545
$313,114 $62,636 $72,032
$122,994 $14,279 $23,799
14.70% 0.00% 5.30%
0.00% 0.00% 0.00%
33.20% 18.80% 6.80%
48.00% 18.80% 12.10%
18.70% 0.00% 29.40%
0.00% 0.00% 0.00%
42.10% 77.20% 37.60%
60.70% 77.20% 67.00%
4.3 65.6 10.9
2.5 6.7 6.2
0.9 2.6 1.2
84.9 5.6 33.5
147.7 54.1 58.7
228.6 52.9 117.2
4 6.8 -25
Exhibit 2
Top 25 Supply Sales Growth NI Growth
Company Competitor
Chain Leader Leader
Ametek Inc. -- Y -- --
Anheuser-Busch Y -- -- --
Apple Computer Y Y Y --
Best Buy Y -- -- --
Boeing -- -- -- Y
Brady Corp -- Y Y --
Ceradyne Inc. -- Y Y --
Cisco Y -- Y --
Coca-Cola Y -- -- --
Danaher Corp. -- Y Y --
Dover Corp. -- Y Y --
DRS Technology -- Y Y Y
General Dynamic -- Y -- Y
Garmin Ltd. -- Y Y --
GlaxoSmithKline Y -- Y --
Hewlett-Packard Y Y Y --
IBM Y -- -- --
ITT -- Y -- Y
Johnson & Johnson Y Y Y --
Johnson Controls Y Y Y --
KLA Tencor Corp. -- -- Y --
L-3 Communications -- Y Y Y
Lincoln Electric Holdings Inc. -- Y Y --
Lockheed Martin Y Y Y Y
Lowe’s Y Y Y --
Motorola Y Y Y Y
NetApp, Inc. -- Y Y --
Nike Y -- -- --
Nokia Y -- Y Y
Paccar Y Y Y --
PepsiCo Y -- Y --
Proctor & Gamble Y Y Y --
Precision Castparts Corp. -- -- Y --
Publix Super Markets Y -- Y --
Qualcomm Inc. -- Y Y --
Raytheon -- -- Y Y
Rockwell Collins -- -- Y Y
Stanley Works -- Y -- --
Texas Instruments Y Y -- --
Toyota Motor Y Y Y --
United Technologies Co. -- Y Y Y
ViaSat Inc. -- Y Y Y
Wal-Mart Y Y Y --
# companies in group 23 29 33 12
Note: Y= Yes, the company is in that group
Growth Leader Small Company Elite Company Large Elite Small Elite
-- Y -- -- --
-- -- -- -- --
Y -- Y -- Y
-- -- -- -- --
-- -- -- -- --
Y Y -- -- --
Y Y -- -- --
-- -- -- -- --
-- -- -- -- --
Y Y -- -- --
Y Y -- -- --
Y Y -- -- --
-- -- -- -- --
Y Y -- -- --
-- -- -- -- --
Y -- Y Y --
-- -- -- -- --
-- Y -- -- --
Y -- Y -- Y
Y -- Y -- Y
-- Y -- -- --
Y -- -- -- --
Y Y -- -- --
Y -- Y -- Y
Y -- Y -- Y
Y -- Y -- Y
Y Y -- -- --
-- -- -- -- --
-- -- -- -- --
Y -- Y -- Y
-- -- -- -- --
Y -- Y Y --
-- Y -- -- --
-- -- -- --
Y Y -- -- --
-- -- -- -- --
-- Y -- -- --
-- Y -- -- --
-- -- -- --
Y -- Y Y --
Y -- -- -- --
Y Y -- -- --
Y -- Y Y --
24 16 12 4 8
Exhibit 3
Harris Elites Large Elite Small Elite
Income Statement
Sales $4,243.00 $1,000,800.90 $723,571.80 $277,229.10
Cost of Goods $2,871.10 $705,652.40 $536,299.00 $169,353.40
Gross Margin(GM) $1,371.90 $295,148.50 $187,272.80 $107,875.70
R&D $269.30 $30,269.10 $12,714.50 $17,554.60
Marketing $ - $7,937.00 $7,937.00 $ -
G&A $561.40 $153,045.70 $104,573.60 $48,472.10
Total SG&A $830.70 $191,251.80 $125,225.10 $66,026.70
EBIT $541.20 $103,896.70 $62,047.70 $41,849.00
Taxes, Int., etc. $60.80 $32,625.70 $20,029.70 $12,596.00
Net Income $480.40 $71,271.00 $42,018.00 $29,253.00
Depr. & Amort. $135.20 $30,054.90 $22,880.50 $7,174.40
EBITDA $676.40 $133,951.50 $84,928.10 $49,023.40
Balance Sheet
Cash $429.20 $93,401.40 $49,751.20 $43,650.20
Receivables $748.50 $122,440.30 $79,308.60 $43,131.70
Inventory $347.10 $85,627.60 $63,830.90 $21,796.70
Other Current $304.00 $45,093.00 $27,746.20 $17,346.80
PP&E (Net) $459.20 $238,282.70 $184,444.20 $53,838.50
Other Noncurrent $2,118.00 $317,933.10 $247,384.60 $70,548.50
Total Assets $4,406.00 $902,778.20 $652,465.80 $250,312.40
Payables $350.00 $95,062.40 $64,998.70 $30,063.70
Other Short Term $1,288.10 $206,811.50 $154,929.90 $51,881.60
Noncurrent $864.10 $216,056.50 $163,857.60 $52,198.90
Total Liabilities $2,502.20 $517,930.30 $383,786.10 $134,144.20
Equity $1,903.80 $384,847.90 $268,679.70 $116,168.20
Total Liab. & Equity $4,406.00 $902,778.20 $652,465.80 $250,312.40
Ratios
Market Capitalization $8,030.70 $1,302,859.40 $722,812.00 $580,047.40
P/E Ratio 16.7 18.3 17.2 19.8
Price/Sales 1.9 1.3 1 2.1
5 Yr Sales Growth 18.2 14.3 12.8 15.1
Ind. 5 Yr Sales Growth 9.3 10.9 9.6 11.5
5 Yr NI Growth 40.7 44.6 28.1 52.8
Ind. 5 Yr NI Growth 12.3 17.3 16.5 17.6
GM/Sales 32.30% 29.50% 25.90% 38.90%
EBIT/Sales 12.80% 10.40% 8.60% 15.10%
EBITDA/Sales 15.90% 13.40% 11.70% 17.70%
ROE 25.20% 18.50% 15.60% 25.20%
ROS 11.30% 7.10% 5.80% 10.60%
Speed (asset turns) 0.96 1.11 1.11 1.11
Return on Assets 10.90% 7.90% 6.40% 11.70%
RONWC 32.50% 28.30% 27.00% 30.50%
GMRONWC% 184.00% 261.20% 239.70% 309.40%
# of Employees 16,000 3,337,968 2,593,394 744,574
Revenue/Employee $265,188 $299,823 $279,006 $372,333
GM/Employee $85,744 $88,422 $72,211 $144,882
EBIT/Employee $33,825 $31,126 $23,925 $56,205
R&D/Sales 6.30% 3.00% 1.80% 6.30%
Marketing/Sales 0.00% 0.80% 1.10% 0.00%
G&A/Sales 13.20% 15.30% 14.50% 17.50%
SGA/Sales 19.60% 19.10% 17.30% 23.80%
R&D/GM 19.60% 10.30% 6.80% 16.30%
Marketing/GM 0.00% 2.70% 4.20% 0.00%
G&A/GM 40.90% 51.90% 55.80% 44.90%
SGA/GM 60.60% 64.80% 66.90% 61.20%
Receivable Turnover 5.7 8.2 9.1 6.4
Inventory Turnover 8.3 8.2 8.4 7.8
Asset Turnover 1 1.1 1.1 1.1
Receivable Days 64.4 44.7 40 56.8
Inventory Days 44.1 44.3 43.4 47
Payable Days 44.5 49.2 44.2 64.8
NWC Days 64 39.8 39.2 39
Top 25 Growth Ldr Sales Ldr Profit Ldr Competitors Small Cos
$1,354,768.60 $1,096,654.20 $1,148,618.00 $1,285,125.30 $304,818.50 $61,148.60
$897,348.70 $768,319.90 $804,307.30 $869,502.10 $232,174.70 $35,218.50
$457,419.90 $328,334.30 $344,310.70 $415,623.30 $72,643.70 $25,930.20
$50,768.10 $34,908.00 $37,744.20 $48,294.60 $15,611.20 $3,769.90
$7,937.00 $7,945.90 $7,990.30 $7,945.90 $ - $53.30
$236,187.70 $167,342.50 $172,781.30 $207,187.00 $26,188.90 $11,305.70
$294,892.80 $210,196.40 $218,515.70 $263,427.50 $41,800.10 $15,128.90
$162,527.00 $118,137.90 $125,794.90 $152,195.80 $30,843.60 $10,801.20
$45,297.00 $37,073.30 $37,772.70 $45,407.70 $9,852.20 $2,574.90
$117,230.10 $81,064.60 $88,022.20 $106,788.10 $20,991.40 $8,226.30
$42,875.70 $32,345.30 $34,289.10 $36,956.00 $5,938.30 $1,735.80
$205,402.70 $150,483.20 $160,084.00 $189,151.80 $36,781.90 $12,537.00
$154,318.40 $105,112.70 $111,605.70 $148,968.60 $43,390.50 $11,994.10
$176,687.30 $135,840.00 $142,322.30 $157,800.20 $36,997.90 $10,338.10
$106,751.30 $98,823.20 $107,323.80 $113,439.70 $35,860.60 $6,998.70
$60,994.40 $48,934.10 $50,862.60 $57,483.30 $15,338.20 $2,930.00
$302,318.50 $249,841.30 $257,609.70 $279,119.10 $28,027.80 $8,683.30
$428,303.00 $374,314.80 $392,944.40 $433,539.40 $105,321.30 $35,372.40
$1,229,372.80 $1,012,866.20 $1,062,668.50 $1,190,350.20 $264,936.40 $76,316.60
$120,053.40 $102,491.70 $106,542.90 $113,545.80 $36,451.40 $5,190.10
$283,408.30 $225,386.80 $235,729.00 $264,501.90 $65,486.60 $11,777.00
$293,934.90 $246,126.40 $254,964.80 $281,571.10 $72,812.30 $14,963.20
$697,396.60 $574,004.80 $597,236.70 $659,618.80 $174,750.40 $31,930.30
$531,976.10 $438,861.30 $465,431.80 $530,731.50 $90,186.00 $44,386.30
$1,229,372.80 $1,012,866.20 $1,062,668.50 $1,190,350.20 $264,936.40 $76,316.60
$2,442,972.80 $1,546,673.80 $1,653,553.00 $2,316,765.00 $499,531.30 $214,509.80
20.8 19.1 18.8 21.7 23.8 26.1
1.8 1.4 1.4 1.8 1.6 3.5
11.3 21.3 19.7 17.8 14.8 22.2
10.5 10.7 10.3 11.1 8.6 12
36.6 46.8 41.7 52.1 56.6 43.2
17.3 16.1 20.8 17.6 30.9 22.5
33.80% 29.90% 30.00% 32.30% 23.80% 42.40%
12.00% 10.80% 11.00% 11.80% 10.10% 17.70%
15.20% 13.70% 13.90% 14.70% 12.10% 20.50%
22.00% 18.50% 18.90% 20.10% 23.30% 18.50%
8.70% 7.40% 7.70% 8.30% 6.90% 13.50%
1.1 1.08 1.08 1.08 1.15 0.8
9.50% 8.00% 8.30% 9.00% 7.90% 10.80%
31.00% 28.30% 28.80% 29.30% 22.10% 30.40%
280.00% 248.40% 240.60% 263.60% 199.50% 213.50%
4,580,311 3,730,648 3,910,034 4,439,482 979,697 242,393
$295,781 $293,958 $293,762 $289,476 $311,135 $252,271
$99,867 $88,010 $88,058 $93,620 $74,149 $106,976
$35,484 $31,667 $32,172 $34,282 $31,483 $44,561
3.70% 3.20% 3.30% 3.80% 5.10% 6.20%
0.60% 0.70% 0.70% 0.60% 0.00% 0.10%
17.40% 15.30% 15.00% 16.10% 8.60% 18.50%
21.80% 19.20% 19.00% 20.50% 13.70% 24.70%
11.10% 10.60% 11.00% 11.60% 21.50% 14.50%
1.70% 2.40% 2.30% 1.90% 0.00% 0.20%
51.60% 51.00% 50.20% 49.80% 36.10% 43.60%
64.50% 64.00% 63.50% 63.40% 57.50% 58.30%
7.7 8.1 8.1 8.1 8.2 5.9
8.4 7.8 7.5 7.7 6.5 5
1.1 1.1 1.1 1.1 1.2 0.8
47.6 45.2 45.2 44.8 44.3 61.7
43.4 46.9 48.7 47.6 56.4 72.5
48.8 48.7 48.3 47.7 57.3 53.8
42.2 43.5 45.6 44.8 43.4 80.5
All
$1,582,107.10
$1,063,714.90
$518,392.20
$60,494.80
$7,990.30
$261,111.00
$329,596.00
$188,796.20
$54,028.70
$134,767.50
$48,134.60
$236,930.80
$181,952.70
$203,135.40
$141,341.10
$69,736.90
$329,436.90
$540,175.10
$1,465,778.00
$149,091.60
$333,161.60
$358,892.50
$841,145.70
$624,632.30
$1,465,778.00
$2,897,078.40
21.5
1.8
15.6
10.8
41.9
21.8
32.80%
11.90%
15.00%
21.60%
8.50%
1.08
9.20%
30.10%
265.30%
5,400,017
$292,982
$95,998
$34,962
3.80%
0.50%
16.50%
20.80%
11.70%
1.50%
50.40%
63.60%
7.8
7.5
1.1
46.9
48.5
51.2
44.2
Exhibit 4 Two Best-In-Class Company Benchmarks for each Focal Ra
Company Ratio
AstraZeneca GM/Sales
GlaxoSK
Qualcomm ROS
Texas Instruments
Apple Computers Revenue/Employee
Paccar
Qualcomm GM/Employee
Cisco
Paccar SG&A/Sales
Precision Castparts
GlaxoSK ROE
Boeing
Apple Computers NWC Days
Boeing
Lowe’s Receivable Days
L3 Communications
Apple Computers Inventory Days
NetApp, Inc.
AstraZeneca Payable Days
Johnson & Johnson
marks for each Focal Ratio
Value Harris
79.00% 32.30%
78.40%
32.80% 11.30%
30.50%
$1,086,000 $265,000
$783,000
$477,000 $85,700
$363,000
3.60% 19.60%
6.50%
47.50% 25.20%
46.50%
−59 days 64 days
−25 days
0 days 64.4 days
0 days
7.2 days 44.1 days
18.2 days
228.6 days 44.5 days
138.0 days