Summary

Other Scenarios:

Buyer: The Procter & Gamble Company (PG) Last Price: 60.39 Market Cap.: 198.17B
Target: Raytheon Company (RTN) Last Price: 47.61 Market Cap.: 21.36B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare   866
*Media   142
*Technology   1,261
Manufacturing 1,173

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 76)
  • Folgers
  • Millstone
  • Eukanuba
  • Iams
Target (Total: 9)
  • Raytheon Company
Buyer
  • Vicks Children's NyQuil (Chlorpheniramine Maleate/Pseudoephedrine HCl/Dextromethorphan HBr)
  • Vicks Pediatric Formula 44M Multi Symptom Cough & Cold (Chlorpheniramine Maleate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  • Vicks 44M Cough, Cold & Flu Relief (Chlorpheniramine Maleate/Dextromethorphan Hydrobromide/Pseudoephedrine Hydrochloride/Acetaminophen)
  • Vicks NyQuil Multi Symptom Cold/Flu Relief (Doxylamine Succinate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Acetaminophen)
Target
  • Raytheon JPS Communications NXU Series
  • Raytheon JPS Communications Voting Products
  • Raytheon JPS Communications PPS-100 Pre/Postselector
  • Raytheon JPS Communications NRU-600 DSP Noise Reduction Unit

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 61)
  • Alexion Pharmaceuticals, Inc. (ALXN)
  • Multi-Color Corp. (LABL)
  • Tredegar Corporation (TG)
  • Buckeye Technologies Inc. (BKI)
Target (Total: 83)
  • Newkirk Realty Trust, Inc. (NKT)
  • GenCorp Inc. (GY)
  • Axsys Technologies, Inc. (AXYS)
  • Orbit International Corp. (ORBT)
Buyer (Total: 11)
  • Wal-Mart Stores, Inc. (WMT)
  • sanofi-aventis (ADR) (SNY)
  • Dollar General Corp. (DG)
  • PETCO Animal Supplies, Inc. (PETC)
Target (Total: 14)
  • Government - United States
  • Boeing Company, The (BA)
  • Applied Digital Solutions, Inc. (ADSX)
  • First Aviation Services (FAVS)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 110,000 80,000
Revenue Per Employee 628,996.0 286,334.5
Total Revenue 17,842.0 5,711.0
Total Expenses 14,893.0 5,199.0
Other Revenue 0.0 0.0
Cost of Revenue 8,894.0 4,655.0
SG&A Expense 5,999.0 390.0
Research & Development 0.0 154.0
Other Operating Expense 0.0 0.0
Operating Income 2,949.0 512.0
Unusual Income 0.0 0.0
LT Debt to Capital 36.38 25.68
Fwd P/E 20.11 17.54
Fwd P/Rev 2.64 0.92
Book Value 62,908.0 11,419.0
Curr Portion of LTD/Cap Lease 2,128.0 0.0

Key Ratios

  Buyer Target
Gross Margin % 51.45 17.45
Operating Margin % 19.42 8.25
Quick Ratio 0.68 0.33
Current Ratio 1.22 1.52
Coverage Ratio -0.08 -0.12
Total Assets 135,695.0 24,453.0
Return on Equity % 13.8 9.75
Return on Assets % 6.4 4.55
Cash+ ST Inv. Per Share 2.28 2.05
Total Debt 38,104.0 4,036.0
Total Debt to Equity % 60.57 35.34
Total Debt to Tangible Equity % -145.89 -2,360.23
Debt to Asset % 28.08 16.51

Individual Company Summary

Focused

Buyer

Focused (): Manufacturing > Consumer Manufacturing > Personal Care and Cleaning Products

Target

Focused (): Manufacturing > Industrial Manufacturing > Aerospace and Defense > Defense > Defense Contractors

Business Description

Buyer

The Procter & Gamble Company (P&G) manufactures and markets a range of consumer products in various countries throughout the world. The Company markets over 300 branded products in more than 160 countries. The Company manages its business in five product segments: Fabric and Home Care, Baby and Family Care, Beauty Care, HealthCare, and Snacks and Beverages. On January 27, 2005, the Company entered into an agreement to acquire The Gillette Company. The Gillette Company is in the male grooming category that includes blades, razors and shaving preparations, and in selected female grooming products. Gillette also operates worldwide in alkaline batteries and toothbrushes. In August 2004, the Company completed the divestiture of its Juice business. In June 2004, the Company purchased the remaining 20% stake of its China venture from its partner, Hutchison Whampoa China Ltd. (Hutchison), giving the Company full ownership of its operations in China.

Target

Raytheon Company and its subsidiaries (Raytheon) designs, develops, manufactures, integrates, supports and provides a range of technologically advanced products, services and solutions for governmental and commercial customers in the United States and abroad. The Company acts as a prime contractor or major subcontractor on numerous defense and related programs for the United States Government. The Company operates in seven principal business segments: Integrated Defense Systems (IDS); Intelligence and Information Systems (IIS); Missile Systems (MS); Network Centric Systems (NCS); Space and Airborne Systems (SAS); Technical Services (RTSC), and Aircraft.

Product Summary

Sector Buyer Target
*Healthcare  
Biopharmaceuticals  
Allergies
The Allergies Subsector includes therapeutics that treat exaggerated immune reaction induced by exposure to a foreign substance.
  
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
  
Dermatology
The Dermatology Subsector includes therapeutics that treat disorders affecting the skin.
  
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
  
Immunology
The Immunology Subsector includes therapeutics that treat disorders affecting the immune system.
  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Musculoskeletal System
The Musculoskeletal System Subsector includes therapeutics that treat disorders of the bones, joints, ligaments, tendons, and soft tissue involved with them.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
  
Obstetrics/Gynecology
The Obstetrics/Gynecology Subsector includes therapeutics that treat female genital disorders, pregnancy, and childbirth.
  
Respiratory System
The Respiratory System Subsector includes therapeutics that treat disorders affecting both the upper and lower respiratory tract, including the nose, throat, larynx, trachea, bronchi, and lungs.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Urology
The Urology Subsector includes therapeutics that treat diseases of the kidney, urinary tract, bladder, and the male reproductive system.
  
Medical Devices  
Medical Supplies
The Medical Supplies Subsector includes basic and consumable products that are widely used in healthcare settings.
  
Orthopedics
The Orthopedics Subsector includes medical devices that diagnose and treat musculoskeletal diseases involving muscles, bones and joints.
  
Nutritional Health  
Dietary/Naturopathic Supplements
The Dietary/Naturopathic Subsector includes nutritional biochemicals and nutrients derived from natural sources that are intended to support health.
  
Scientific Products  
Consumables
The Consumables Subsector includes chemicals, reagents, standards, media, and disposable labware that are normally depleted or worn out by continuous use.
  
*Media  
Entertainment/Programming  
Television
Companies involved in Production, Post Production, and Advertising production for the television industry.
  
*Technology  
Hardware  
Communications Equipment
The Communications Equipment sector encompasses a broad range of access, transport, and connectivity equipment and devices, which span across a diverse set of markets including enterprise networking, home networking, satellite, wireless (terrestrial), wireline wide area networking, and cable (CATV).
  
Manufacturing
Consumer Manufacturing  
Food, Beverage and Agriculture
Includes agricultural inputs like livestock and crops, as well as processed food and beverage products. Tobacco growers and cigarette manufacturers are also included.
  
Household Products
The Household Products sector includes furniture and other home and institutional decorative items, major and small appliances, kitchenware, and other related products.
  
Personal Care and Cleaning Products
Companies engaged in the manufacturing of personal care products, such as cosmetics, fragrances, skin lotion, shampoo and other toiletries; and household cleaning products, such as window/surface cleaner, table polish.
  
Industrial Manufacturing  
Aerospace and Defense
Aerospace and Defense is comprised of products and services with applications in aviation, space exploration, combat and national security, small arms, and other defense and security purposes.
  

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
*Healthcare  
Biopharmaceuticals  
Allergies  
Upper Respiratory  
Antihistamines/Decongestants/Antitussives
Therapeutics that treat allergic reactions by suppressing inflammation, reducing mucous build up, and relieving or preventing coughs.

Buyer Products:

  • Vicks Children's NyQuil (Chlorpheniramine Maleate/Pseudoephedrine HCl/Dextromethorphan HBr)
  • Vicks Pediatric Formula 44M Multi Symptom Cough & Cold (Chlorpheniramine Maleate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  
Antihistamines/Decongestants/Antitussives/Analgesics/Antipyretics
Therapeutics that treat allergic reactions by suppressing inflammation, reducing mucous build up, relieving or preventing coughs, relieving pain, and reducing fever.

Buyer Products:

  • Vicks 44M Cough, Cold & Flu Relief (Chlorpheniramine Maleate/Dextromethorphan Hydrobromide/Pseudoephedrine Hydrochloride/Acetaminophen)
  • Vicks NyQuil Multi Symptom Cold/Flu Relief (Doxylamine Succinate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Acetaminophen)
  
Cardiovascular System  
Heart Disorders  
Arrhythmia  
Potassium Channel Blocking Agents
Therapeutics that treat abnormal rhythm of the heart by preventing the entry of potassium into heart muscle cells.

Buyer Products:

  • Azimilide
  
Dermatology  
Acne  
Vulgaris  
Retinoids/Vitamin A Analogs
Therapeutics that treat acne by helping in cell differentiation as well as prevent cell proliferation.

Buyer Products:

  • Tazorac (Tazarotene)
  
Lesion/Scaling Disorders  
Psoriasis  
Retinoids/Vitamin A Analogs
Therapeutics that treat a chronic autoimmune disease characterized by softening, separating, and causing the shedding of the horny layer of the skin by modulating cell differentiation and proliferation.

Buyer Products:

  • Tazorac (Tazarotene)
  
Digestive System  
Gastrointestinal Tract Disorders  
Gastroduodenal Disorders  
Peptic Ulcers  
Duodenal  
Antisecretory Agents/Nitroimidazoles/Tetracyclines
Therapeutics that treat peptic ulcers by preventing the secretion of acid as well as treating infections by using antibiotics.

Buyer Products:

  • Helidac (Bismuth Subsalicylate/Metronidazole/Tetracycline Hydrochloride)
  
Gastroesophageal Disorders  
Acid Indigestion/Heartburn  
Proton Pump Inhibitors
Therapeutics that treat heartburn by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Prilosec OTC (Omeprazole)
  
Intestinal Disorders  
Constipation  
Chronic  
Bulk-Forming Agents
Therapeutics that treat constipation by stimulating the formation of bodies of feces that are able to be passed through the bowels.

Buyer Products:

  • Metamucil (Psyllium)
  
Irregular Bowel Movements  
Bulk-Forming Agents
Therapeutics that treat constipation by stimulating the formation of bodies of feces that are able to be passed through the bowels.

Buyer Products:

  • Metamucil (Psyllium)
  
Diarrhea  
Antisecretory Agents
Therapeutics that treat diarrhea by bringing fluid movement within the intestine to normal levels.

Buyer Products:

  • Pepto Bismol (Bismuth Subsalicylate)
  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat ulcerative colitis by inhibiting the actions of the two enzymes, cyclooxygenase and lipoxygenase.

Buyer Products:

  • Asacol (Mesalamine)
  
Immunology  
Autoimmune Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat inflammation of the colon and rectum by blocking the action of cyclooxygenase and lipoxygenase.

Buyer Products:

  • Asacol (Mesalamine)
  
Psoriasis  
Retinoids/Vitamin A Analogs
Therapeutics that treat a chronic autoimmune disease characterized by softening, separating, and causing the shedding of the horny layer of the skin by modulating cell differentiation and proliferation.

Buyer Products:

  • Tazorac (Tazarotene)
  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Narrow Spectrum  
Digestive System  
Heliobacter pylori  
Antisecretory Agents/Nitroimidazoles/Tetracyclines
Therapeutics treat digestive infections caused by Helicobacter pylori bacteria by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Helidac (Bismuth Subsalicylate/Metronidazole/Tetracycline Hydrochloride)
  
Urology  
Urinary Tract Infections (UTI)  
Antibacterial Agents (Antibiotics)  
Nitrofurantoins
Therapeutics that treat bacterial infections of the urinary tract by inactivating/altering bacterial proteins and other macromolecules.

Buyer Products:

  • Macrobid (Nitrofurantoin)
  • Macrodantin (Nitrofurantoin)
  
Musculoskeletal System  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of skeletal system disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Parathyroid Hormone (PTH 1-34) Nasal Spray
  
Skeletal Disorders  
Bone Disorders  
Heterotopic Ossification  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat ossification by inhibiting the loss of bone material by osteoclasts.

Buyer Products:

  • Didronel (Etidronate Disodium)
  
Osteoporosis  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat osteoporosis by preventing loss of bone mass due to osteoclasts.

Buyer Products:

  • Actonel (Risedronate Sodium)/Once Weekly Actonel (Risedronate Sodium)/Actonel With Calcium
  
Paget`s Disease  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat paget's disease by inhibiting the loss of bone material by osteoclasts.

Buyer Products:

  • Didronel (Etidronate Disodium)
  • Actonel (Risedronate Sodium)/Once Weekly Actonel (Risedronate Sodium)/Actonel With Calcium
  
Neurology  
Neurological Disorders  
Spasticity (Spinal Shock)  
Calcium Channel Inhibitors
Therapeutics that treat spasticity by preventing the release of calcium from the sarcoplasmic reticulum which results in reduced involuntary muscle contractions.

Buyer Products:

  • Dantrium/Dantrium I.V. (Dantrolene Sodium)
  
Obstetrics/Gynecology  
Female Genital Disorders  
Sexual Dysfunction  
Androgens
Therapeutics that treat female sexual dysfunction by providing male sex hormone, such as testosterone, that is important for the normal functioning of the female reproductive system.

Buyer Products:

  • Intrinsa (Testosterone Patch)
  
Respiratory System  
Upper Respiratory Tract Disorders  
Coughs/Colds  
Amphetamines
Therapeutics that treat coughs and colds by helping to relieve nasal congestion.

Buyer Products:

  • Vicks Vapor Inhaler (1-Desoxyephedrine)
  
Antihistamines/Antitussives
Therapeutics that block the inflammatory action of histamines and relieve or prevent coughs.

Buyer Products:

  • Vicks NyQuil Cough (Doxylamine Succinate/Dextromethorphan Hydrobromide)
  
Antihistamines/Decongestants/Antitussives
Therapeutics that treat coughs and colds by suppressing inflammation, reducing mucous build up, and relieving or preventing coughs.

Buyer Products:

  • Vicks Children's NyQuil (Chlorpheniramine Maleate/Pseudoephedrine HCl/Dextromethorphan HBr)
  • Vicks Pediatric Formula 44M Multi Symptom Cough & Cold (Chlorpheniramine Maleate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  
Antihistamines/Decongestants/Antitussives/Analgesics/Antipyretics
Therapeutics that treat coughs and colds by suppressing inflammation, reducing mucous build up, relieving or preventing coughs, relieving pain, and reducing fever.

Buyer Products:

  • Vicks NyQuil Multi Symptom Cold/Flu Relief (Doxylamine Succinate/Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Acetaminophen)
  • Vicks 44M Cough, Cold & Flu Relief (Chlorpheniramine Maleate/Dextromethorphan Hydrobromide/Pseudoephedrine Hydrochloride/Acetaminophen)
  
Antitussives
Therapeutics that relieve or prevent coughs.

Buyer Products:

  • Vicks 44 Cough Relief (Dextromethorphan Hydrobromide)
  
Antitussives/Expectorants
Therapeutics that treat coughs and colds by suppressing coughs and helping ejection of the mucous.

Buyer Products:

  • Vicks 44E/Vicks Pediatric Formula 44E (Dextromethorphan HBr/Guaifenesin)
  
Decongestants
Therapeutics that treat coughs and colds by reducing mucous build up.

Buyer Products:

  • Vicks Sinex (Phenylephrine Hydrochloride)
  • Vicks Sinex 12 Hour (Oxymetazoline)
  • Vicks Inhaler (Levmetamfetamine)
  
Decongestants/Antitussives
Therapeutics that treat coughs and colds by reducing mucous build up and suppressing the cough.

Buyer Products:

  • Vicks 44D Cough & Head Congestion Relief (Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide)
  
Decongestants/Antitussives/Expectorants/Analgesics/Antipyretics
Therapeutics that treat coughs and colds by reducing mucous build up, suppressing the cough, helping in the ejection of mucous and helping relieve fever and pain.

Buyer Products:

  • Vicks DayQuil Multi Symptom Cold/Flu Relief (Pseudoephedrine Hydrochloride/Dextromethorphan Hydrobromide/Guaifenesin/Acetaminophen)
  
Decongestants/Expectorants
Therapeutics that treat coughs and colds by reducing mucous build up and help in ejection of mucous.

Buyer Products:

  • Vicks DayQuil Sinus Presure & Pain Relief (Phenylpropanolamine/Guaifenesin)
  
Expectorants/Opioids
Therapeutics that treat coughs and colds by suppressing the cough and helping in the ejection of the mucous.

Buyer Products:

  • Brontex (Guaifenesin/Codeine Phosphate)
  
Surgery  
General  
Complications  
Hyperthermia  
Calcium Channel Inhibitors
Therapeutics that treat hyperthermia by preventing the release of calcium from the sarcoplasmic reticulum which results in inhibits the catabolic processes responsible for increase in temperature.

Buyer Products:

  • Dantrium/Dantrium I.V. (Dantrolene Sodium)
  
Urology  
Urological Disorders  
Bladder  
Urinary Frequency/Urge Incontinence  
Anticholinergic Agents
Therapeutics that treat the inability to control urinary excretory functions by blocking the actions of choline and other cholinergic agents.

Buyer Products:

  • Enablex (Darifenacin)
  
Medical Devices  
Medical Supplies  
Diagnostic  
Temperature  
Thermometers
Medical instruments designed to measure the temperature in patients

Buyer Products:

  • Vicks Thermometer Series
  
Orthopedics  
Treatment  
Pain Management  
General Purpose  
Dry Heat Therapy
Devices that control the of use dry heat to ease pain associated with musculoskeletal injuries.

Buyer Products:

  • ThermaCare Heatwrap Series
  
Nutritional Health  
Dietary/Naturopathic Supplements  
General Health
Products consisting of dietary/naturopathic supplements that are intended to support general health.

Buyer Products:

  • The Procter & Gamble Company
  
Scientific Products  
Consumables  
Bioanalytical Chemistry  
Cell Biology  
Cell Proliferation  
Kits
Cell proliferation consumables that are a collection of reagents, standards, and other consumables assembled for used in various biological analyses.

Buyer Products:

  • E-Cube Culture System Kit
  • CellCube System
  
*Media  
Entertainment/Programming  
Television  
Production  
Domestic  
Soap Opera
Shows depicting the interconnected lives of many characters often in a sentimental, melodramatic way.

Buyer Products:

  • Procter & Gamble Productions
  
*Technology  
Hardware  
Communications Equipment  
Wide Area Networking (WAN)  
Customer Premises Equipment (CPE)  
Gatekeepers/Gateways  
Voice over Internet Protocol (VoIP)
Equipment that converts voice communications signals into one that is carried using the Internet Protocol (IP).

Target Products:

  • Raytheon JPS Communications NXU Series
  
Wireless Equipment  
Core Infrastructure  
Radio Communication Equipment  
Components/Modules
Enabling network components used in a 2-way radio communications system. Includes equipment such as base stations, amplifiers, transceivers, and hubs.

Target Products:

  • Raytheon JPS Communications Voting Products
  • Raytheon JPS Communications PPS-100 Pre/Postselector
  • Raytheon JPS Communications NRU-600 DSP Noise Reduction Unit
  • Raytheon JPS Communications TRP-1000 Transportable Radio Interconnect
  • Raytheon JPS Communications ACU-1000 Modular Interface System
  • Raytheon JPS Communications RTU Series Radio/Telephone Interface Units
  
Systems
A two-way radio system in which two or more mobile/portable wireless transceivers are linked by a single repeater.

Target Products:

  • AN/ARC-187 Satellite Communications System
  
Manufacturing
Consumer Manufacturing  
Food, Beverage and Agriculture  
Beverages  
Non-Alcoholic Beverages  
Coffee/Tea
Coffee and Tea Manufacturing.

Buyer Products:

  • Folgers
  • Millstone
  
Food  
Pet Food
Food for dogs and cats.

Buyer Products:

  • Eukanuba
  • Iams
  
Sweets/Snacks  
Snack Foods
Manufacturers of Potato Chips, Peanuts, Trail Mix, and Cheese Snacks.

Buyer Products:

  • Pringles
  
Household Products  
Household Appliances and Tools  
Other Household Products  
Brooms, Brushes, and Mops
Brooms, brushes, mops, and other manual cleaning equipment.

Buyer Products:

  • Swiffer
  
Small Electrical Appliances/Accessories  
Consumer Batteries
Relatively small, portable batteries used to power all varieties of consumer electronic devices. These one-time-use or rechargeable batteries store electric energy and can be used to power various devices ranging from CD players to cell phones. The most popular battery types include: lithium (Li), lithium ion (Li-ion), nickel-metal hybrid (NiMH), and nickel-cadmium (NiCAD). Flashlights are included at this level.

Buyer Products:

  • Duracell
  
Kitchen/Bath Appliances
Electrical Kitchen/Bath Appliances, including toasters; juicemakers; and food blenders, as well as electrical toothbrushes, hairdryers, and electric massagers.

Buyer Products:

  • Oral-B
  
Personal Care and Cleaning Products  
Absorbent Products
Absorbent products, including tampons, pads, and diapers.

Buyer Products:

  • Pampers
  • Always
  • Tampax
  
Anti-Perspirant
Anti-Perspirant and/or deodorant.

Buyer Products:

  • Secret
  • Sure
  • Old Spice
  
Cosmetics
Companies engaged in the manufacturing of cosmetics, such as lipstick, powders, and other make-up.

Buyer Products:

  • Max Factor
  • CoverGirl
  • Olay
  
Fragrances
Companies engaged in the manufacturing of fragrances, such as perfume and cologne.

Buyer Products:

  • Giorgio Beverly Hills
  • Hugo Boss
  
Hair Care
Companies engaged in the manufacturing of hair care products, such as shampoo, conditioner, hair dye, hair spray, styling gel, and mousse. Also includes hair accessories, such as pins, clips, and curlers.

Buyer Products:

  • Pantene
  • Head & Shoulders
  • Infusium 23
  • Pert
  • Aussie
  • Physique
  • Herbal Essences
  • Clairol
  
Household Cleaning Products
Chemical-based household cleaning products, such as detergent and surface cleaner. Also includes automotive cleaning products.

Buyer Products:

  • Downy
  • Febreze
  • Swiffer
  • Tide
  • Mr. Clean
  
Oral Care
Oral Care products, including Toothpaste, Mouthwash, and denture adhesive.

Buyer Products:

  • Fixodent
  
Sanitary/Personal Care Paper
Companies engaged in the manufacturing of sanitary/personal care paper such as napkins and tissues.

Buyer Products:

  • Charmin
  • Puffs
  • Bounty
  
Skin Care
Companies engaged in the manufacturing of skin care products, such as suntan lotion, skin lotion, sanitizer, shaving cream, and moisturizer. Also includes manufacturers of non-electrical shaving equipment.

Buyer Products:

  • Gillette
  • Noxzema
  • Olay
  
Soap/Body Wash
Soap, Body Wash, and Shower Gel.

Buyer Products:

  • Camay
  • Ivory
  • Safeguard
  
Industrial Manufacturing  
Aerospace and Defense  
Aerospace  
Aviation Equipment  
Aircraft Manufacturing
Aircraft Manufacturing is comprised of passenger and cargo airplanes, business jets, military aircraft, and helicopters.

Target Products:

  • Raytheon Company
  
Defense  
Advanced Combat and Support Systems
Advanced Combat and Support Systems is comprised of advanced weaponry and combat equipment and systems. Examples include artillery equipment and other heavy weaponry, combat and combat-support vehicles, missile systems, attack submarines, unmanned aerial vehicles, and other combat equipment and systems.

Target Products:

  • Raytheon Company
  
Defense Contractors
Defense Contractors generally have a scale of operations that allows them to lead or provide key support roles to large defense programs and contracts. Defense contractors may have varying levels of in-house manufacturing and technology capabilities, but they are able to offer large-scale development, production and other critical services to government defense, security, and intelligence agencies.

Target Products:

  • Raytheon Company
  
Defense Electronics
Defense Electronics is comprised of advanced electronic hardware and support products generally targeted at military and intelligence agency applications. Equipment may be used in communication, eavesdropping, data processing, and other applications. Companies offering highly technical, non-hardware solutions may also be included.

Target Products:

  • Raytheon Company
  

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  GlaxoSmithKline plc (ADR) n/a 157,749.428 16.17 15.59 3.62 3.73 17.12
Diageo plc (ADR) n/a 50,147.320 17.92 18.79 2.93 2.95 -210.41
Target
  Boeing Company, The n/a 61,700.809 26.01 30.58 0.89 1.03 8.24
Honeywell International Inc. n/a 32,307.210 16.78 15.59 1.10 1.04 23.58
Northrop Grumman Corporation n/a 22,737.977 16.35 14.88 0.76 0.75 -19.20
Rockwell Collins, Inc. n/a 9,160.123 20.62 19.97 2.43 2.38 17.89
L-3 Communications Holdings, Inc. n/a 9,005.832 18.64 16.78 0.79 0.73 2.47
Embraer-Empresa Brasileir de Aero. (ADR) n/a 6,642.749 13.55 13.05 1.63 1.55 3.74
Harris Corporation n/a 6,102.436 25.63 17.17 1.76 1.57 11.79
Comverse Technology, Inc. n/a 4,290.584 35.96 26.10 3.84 2.75 2.22
Alliant Techsystems Inc. n/a 2,735.380 18.17 15.69 0.83 0.80 -5.44
Trimble Navigation Limited n/a 2,700.372 27.33 29.28 3.19 2.96 9.19
URS Corporation n/a 2,149.574 19.01 18.82 0.52 0.51 4.84
FLIR Systems, Inc. n/a 1,762.551 19.74 21.26 3.36 3.12 8.16
DRS Technologies, Inc. n/a 1,627.930 15.04 14.31 0.80 0.58 -1.12
SRA International, Inc. n/a 1,481.502 23.56 21.70 1.26 1.12 4.39
Nice Systems Ltd. (ADR) n/a 1,307.716 27.84 35.17 3.65 3.17 3.15
Elbit Systems Ltd. (ADR) n/a 1,149.536 29.86 16.82 0.90 0.79 3.49
Orbital Sciences Corp. n/a 1,062.554 32.07 29.43 1.42 1.34 2.98
Verint Systems Inc. n/a 1,035.069 37.16 24.88 3.52 2.75 4.22
ViaSat, Inc. n/a 771.805 32.57 23.45 1.67 1.49 3.61
II-VI, Inc. n/a 623.135 60.26 18.44 2.68 2.36 4.71
TriQuint Semiconductor n/a 618.961 46.36 25.94 1.80 1.54 1.37
United Industrial Corp. n/a 554.810 13.17 15.32 0.96 0.90 21.79
ARGON ST, Inc. n/a 493.253 20.94 22.20 1.74 1.74 3.61

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Datawatch Corporation n/a 15.710 28.66 12.65 0.74 0.67 -19.11
Buyer
  Alexion Pharmaceuticals, Inc. 99.50% 1,091.369 n/a -8.57 552.55 651.79 75.88
Multi-Color Corp. 30.00% 184.390 17.97 17.37 0.88 n/a 4.42
Target
  Newkirk Realty Trust, Inc. 18.40% 322.594 11.04 7.06 1.36 1.34 2.05
GenCorp Inc. 16.00% 754.800 n/a n/a 1.19 n/a -3.48
Axsys Technologies, Inc. 12.30% 161.005 16.29 15.57 1.09 1.04 2.98
Orbit International Corp. 11.00% 22.961 8.19 10.18 0.90 0.91 1.81
Merrimac Industries 10.50% 30.797 134.33 n/a 1.07 n/a 1.29
Ducommun Incorporated 9.20% 172.891 12.47 14.20 0.63 0.57 2.48
NovAtel Inc. 6.00% 377.177 21.91 20.62 6.44 5.32 7.43
PHAZAR CORP. 3.00% 17.050 12.19 n/a 1.67 n/a 2.33
EMC Corporation n/a 25,490.233 23.28 21.82 2.50 2.37 3.69
Garmin Ltd. n/a 10,021.700 24.92 23.43 7.56 6.42 7.87
L-3 Communications Holdings, Inc. n/a 9,005.832 18.64 16.78 0.79 0.73 2.47
Computer Sciences Corporation n/a 8,082.917 18.14 12.75 0.55 0.54 3.32
Alliant Techsystems Inc. n/a 2,735.380 18.17 15.69 0.83 0.80 -5.44
Atmel Corporation n/a 2,687.120 138.39 31.59 1.59 1.43 2.74
PerkinElmer, Inc. n/a 2,476.751 9.51 17.72 1.68 1.63 16.40
CAE, Inc. (USA) n/a 2,077.572 30.76 n/a 2.04 n/a 4.00
Microsemi Corporation n/a 1,800.478 46.79 27.44 5.20 4.80 5.38
Parametric Technology n/a 1,743.931 33.23 23.53 2.17 2.10 27.07
Washington Group International, Inc. n/a 1,697.887 19.72 21.55 0.49 0.49 2.73
Teledyne Technologies Incorporated n/a 1,356.581 18.93 18.33 1.06 0.98 11.40
Moog Inc. n/a 1,355.392 16.85 n/a 1.09 n/a 7.00
Cogent, Inc. n/a 1,314.209 25.73 38.39 10.89 10.70 2.78

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Wal-Mart Stores, Inc. 16.00% 185,424.314 17.39 15.34 0.56 0.53 4.30
sanofi-aventis (ADR) n/a 127,378.760 27.87 13.44 3.35 3.53 -9.12
Dollar General Corp. n/a 4,392.652 13.36 13.39 0.50 0.48 2.60
PETCO Animal Supplies, Inc. n/a 1,599.901 23.31 21.34 0.79 0.72 9.23
Tween Brands Inc. n/a 1,149.917 19.55 17.28 1.46 1.33 3.30
99 Cents Only Stores n/a 807.044 51.68 51.62 0.81 0.69 1.63
Fred's, Inc. n/a 541.091 20.27 17.93 0.33 0.30 1.56
Prestige Brands Holdings, Inc. n/a 472.824 16.53 12.69 1.53 1.48 -0.92
United-Guardian, Inc. n/a 37.610 15.77 n/a 3.38 n/a 2.71
AMCON Distributing Co. n/a 6.588 n/a n/a 0.01 n/a -1.46
Synergy Brands Inc. n/a 4.990 n/a n/a 0.08 n/a 0.92
Target
  Government - United States 74.00% n/a n/a n/a n/a n/a n/a
Boeing Company, The n/a 61,700.809 26.01 30.58 0.89 1.03 8.24
Applied Digital Solutions, Inc. n/a 109.276 n/a n/a 0.88 n/a -2.28
First Aviation Services n/a 26.488 43.70 n/a 0.21 n/a 0.73
Del Global Technologies n/a 16.290 55.01 n/a 0.20 n/a 3.02
Ronson Corporation n/a 7.712 n/a n/a 0.28 n/a 2.27
Government - Afganistan n/a n/a n/a n/a n/a n/a n/a
Government - Egypt n/a n/a n/a n/a n/a n/a n/a
Kingdom of Saudi Arabia n/a n/a n/a n/a n/a n/a n/a
Government - Canada n/a n/a n/a n/a n/a n/a n/a
United Kingdom Ministry of Defense n/a n/a n/a n/a n/a n/a n/a
Government - Australia n/a n/a n/a n/a n/a n/a n/a
BAE Systems PLC (ADR) n/a n/a n/a n/a n/a n/a n/a
Republic of Korea n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Berkshire Hathaway Inc. n/a 146,956.567 14.16 n/a 1.58 n/a 2.17
Novartis AG (ADR) n/a 134,289.621 23.59 18.57 3.84 3.66 3.61
sanofi-aventis (ADR) n/a 127,378.760 27.87 13.44 3.35 3.53 -9.12
Koninklijke Philips Electronics NV (ADR) n/a 40,395.706 11.86 25.75 1.12 1.02 2.06
The Clorox Company n/a 9,137.863 20.51 18.78 1.97 1.90 -6.08
Target
  Boeing Company, The n/a 61,700.809 26.01 30.58 0.89 1.03 8.24
Lockheed Martin Corporation n/a 35,414.131 16.57 16.04 0.92 0.90 -20.91
General Motors Corporation n/a 17,279.318 n/a 9.18 0.08 0.10 1.73
PerkinElmer, Inc. n/a 2,476.751 9.51 17.72 1.68 1.63 16.40
Advanced Digital Information Corporation n/a 756.379 38.91 55.09 1.60 1.57 2.05
Identix Incorporated n/a 604.591 n/a -111.50 7.19 6.65 16.04
NovAtel Inc. n/a 377.177 21.91 20.62 6.44 5.32 7.43
Mesa Air Group, Inc. n/a 278.674 5.58 7.03 0.22 0.21 n/a
Digital Angel Corporation n/a 123.458 n/a n/a 2.15 n/a 6.54
Applied Digital Solutions, Inc. n/a 109.276 n/a n/a 0.88 n/a -2.28
PFSweb, Inc. n/a 37.861 n/a n/a 0.11 0.08 1.27
First Aviation Services n/a 26.488 43.70 n/a 0.21 n/a 0.73
Del Global Technologies n/a 16.290 55.01 n/a 0.20 n/a 3.02
Ronson Corporation n/a 7.712 n/a n/a 0.28 n/a 2.27
BAE Systems PLC (ADR) n/a n/a n/a n/a n/a n/a n/a
Thales Group n/a n/a n/a n/a n/a n/a n/a
McNeil Technologies, Inc. n/a n/a n/a n/a n/a n/a n/a
ILC Industries, Inc. n/a n/a n/a n/a n/a n/a n/a
Military Commercial Technologies Inc. n/a n/a n/a n/a n/a n/a n/a
The Marmon Group, Inc. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 68,222.0 22,404.0 90,626.0
Other Revenue 0.0 0.0 0.0
Total Revenue 68,222.0 22,404.0 90,626.0
Cost of Revenue 33,125.0 18,495.0 51,620.0
SG&A Expense 21,848.0 1,520.0 23,368.0
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 0.0 540.0 540.0
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 0.0 0.0
Total Expenses 54,973.0 20,555.0 75,528.0
Operating Income 13,249.0 1,849.0 15,098.0
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -1,119.0 -222.0 -1,341.0
Other, Net 283.0 69.0 352.0
Income Before Taxes 12,413.0 1,696.0 14,109.0
Income Taxes 3,729.0 583.0 4,312.0
Income After Taxes 8,684.0 1,113.0 9,797.0
Net Income - Excl. Xord. Items 8,684.0 1,113.0 9,797.0
Discontinued Operations 0.0 -12.0 -12.0
Net Income - Incl. Xord. Items 8,684.0 1,101.0 9,785.0
Preferred Dividends -72.0 0.0 -72.0
Income Avail. to Common 8,612.0 1,101.0 9,713.0
Share Items
Basic Avg. Shares Outstanding 3,437.3 442.6 3,879.9
Basic EPS - Excl. Xord. Items 2.51 2.51 2.53
Basic EPS - Incl. Xord. Items 2.51 2.49 2.52
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 3,437.3 450.9 3,888.2
F.D. EPS - Excl. Xord. Items 2.51 2.47 2.52
F.D. EPS - Incl. Xord. Items 2.51 2.44 2.52
Dividends Per Common Share 1.15 0.68 1.83
Balance Sheet
Assets
Cash and Equivalents 6,693.0 925.0 7,618.0
ST Investments 1,133.0 0.0 1,133.0
Accounts Receivable 5,725.0 774.0 6,499.0
Inventory 6,291.0 1,969.0 8,260.0
Prepayments and Advances 0.0 277.0 277.0
Other Current Assets 4,487.0 3,755.0 8,242.0
Current Assets 24,329.0 7,700.0 32,029.0
Accum D&A 0.0 0.0 0.0
PPE, Net 18,770.0 2,621.0 21,391.0
Goodwill & Intangibles 89,027.0 11,590.0 100,617.0
Other Assets 0.0 0.0 0.0
Other LT Assets 3,569.0 2,542.0 6,111.0
Total Assets 135,695.0 24,453.0 160,148.0
Liabilities
Accounts Payable 4,910.0 1,001.0 5,911.0
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 9,587.0 1,952.0 11,539.0
ST Debt 0.0 91.0 91.0
Curr Port of LTD & Cap Lease Oblg 2,128.0 0.0 2,128.0
Other (Current) Liabilities 3,360.0 2,031.0 5,391.0
Current Liab. 19,985.0 5,075.0 25,060.0
LT Debt 35,976.0 3,945.0 39,921.0
Total LT Debt 35,976.0 3,945.0 39,921.0
Minority Interest (BS) 0.0 147.0 147.0
Deferred Taxes 0.0 209.0 209.0
Other LT Liab. 16,826.0 3,658.0 20,484.0
Total Liabilities 72,787.0 13,034.0 85,821.0
Shareholders Equity
Common Stock 0.0 5.0 5.0
Additional Paid in Capital 0.0 9,927.0 9,927.0
Retained Earnings 0.0 3,965.0 3,965.0
Treasure Stock 0.0 -565.0 -565.0
Other Equity 62,908.0 -1,913.0 60,995.0
Total Equity 62,908.0 11,419.0 74,327.0
Total Liab. & Equity 135,695.0 24,453.0 160,148.0
Shares Outstanding 3,437.3 448.7 3,886.0
Cash Flow
Operating Cash Flow
CF Net Income 8,684.0 1,172.0 9,856.0
CF Depreciation 2,627.0 454.0 3,081.0
CF Deferred Taxes -112.0 28.0 -84.0
Other Non-Cash Items 968.0 91.0 1,059.0
Change in Working Capital -792.0 716.0 -76.0
Total Cash From Operating Activities 11,375.0 2,461.0 13,836.0
Investing Cash Flow (not calculated)
Capital Expenditures -2,667.0 -396.0 -3,063.0
Other Investing Cash Flows 1,937.0 19.0 1,956.0
Total Cash From Investing Activities -730.0 -377.0 -1,107.0
Financing Cash Flow (not calculated)
Dividends Paid -3,703.0 -402.0 -4,105.0
Purchase Or Sale of Stock -15,511.0 -241.0 -15,752.0
Purchase and Retirement of Debt 8,636.0 -605.0 8,031.0
Other Financing Cash Flow 0.0 17.0 17.0
Total Cash From Financing Activities -10,578.0 -1,613.0 -12,191.0
Exchange Rate Effects 237.0 0.0 237.0
Net Change in Cash 304.0 471.0 775.0
Cash Taxes Paid 0.0 56.0 56.0
Cash Interest Paid 0.0 310.0 310.0