What is API Technologies Financial Strength?
API Technologies has the Financial Strength Rank of 0.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its
Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3.
Altman Z-Score.
API Technologies's Interest Coverage for the quarter that ended in Feb. 2016 was 0.07.
API Technologies's debt to revenue ratio for the quarter that ended in Feb. 2016 was 0.91.
As of today, API Technologies's Altman Z-Score is 0.00.
Competitive Comparison of API Technologies's Financial Strength
For the Semiconductors subindustry, API Technologies's Financial Strength, along with its competitors' market caps and Financial Strength data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
API Technologies's Financial Strength Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, API Technologies's Financial Strength distribution charts can be found below:
* The bar in red indicates where API Technologies's Financial Strength falls into.
API Technologies Financial Strength Calculation
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
API Technologies's Interest Expense for the
months ended in Feb. 2016 was $-5.3 Mil. Its Operating Income for the
months ended in Feb. 2016 was $0.4 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Feb. 2016 was $170.6 Mil.
API Technologies's Interest Coverage for the quarter that ended in Feb. 2016 is
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
API Technologies's Debt to Revenue Ratio for the quarter that ended in Feb. 2016 is
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
API Technologies has a Z-score of 0.00, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
API Technologies (API Technologies) Business Description
Traded in Other Exchanges
N/A
Address
API Technologies Corp was incorporated on February 2, 1999 under the laws of the State of Delaware under the name Rubicon Ventures Inc. On November 6, 2006, API changed its name to "API Nanotronics Corp," and subsequently changed its name to API Technologies Corp. on October 22, 2009. The Company through its three business segments-Systems, Subsystems & Components, Electronic Manufacturing Services and Secure Systems & Information Assurance. It designs, develops and manufactures systems, subsystems, RF and secure solutions, as well as provides electronics manufacturing and high-quality engineering services for technically demanding, high-reliability applications. Solutions areas include systems, subsystems and components which includes RF/microwave and microelectronics products, electromagnetics, power and systems solutions products, and sensors, Secure Systems and Information Assurance includes TEMPEST and emanation security, rugged communications products, encryption, and secure networking products and Electronics Manufacturing Services, which involves the production of circuit card assemblies, electromechanical assemblies, and box builds used in defense, industrial and commercial applications. The Company also operates several manufacturing facilities throughout North America, the United Kingdom, Mexico and China. Its customer base spans defense, aerospace, industrial, communications, medical, and government agencies, including the governments of the United States, Canada, the United Kingdom, & other countries. The Company is subject to federal contracting laws and regulations, including the U.S. Federal Acquisition Regulation (FAR) and the False Claims Act.
Executives
| Robert Tavares |
director, officer: President and CEO |
100 FIRST STAMFORD PLACE, STAMFORD CT 06902 |
| Eric F. Seeton |
officer: Chief Financial Officer |
103 HILL STREET, SHREWSBURY MA 01545 |
| Melvin L Keating |
director |
18 DRIFTWOOD DRIVE, LIVINGSTON NJ 07039 |
| Steel Excel Inc. |
10 percent owner |
590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
| Steel Partners Holdings L.p. |
10 percent owner |
590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
| Sph Group Holdings Llc |
10 percent owner |
C/O STEEL PARTNERS HOLDINGS L.P., 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
| Sph Group Llc |
10 percent owner |
C/O STEEL PARTNERS HOLDINGS L.P., 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
| Steel Partners Holdings Gp Inc. |
10 percent owner |
590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
| Kenneth J Krieg |
director |
7111 XAVIER COURT, MCLEAN VA 22101 |
| Matthew E Avril |
director |
C/O STARWOOD HOTELS & RESORTS WORLDWIDE, 1111 WESTCHESTER AVE, WHITE PLAINS NY 10604 |
| Claudio A Mannarino |
officer: Sr VP & CFO |
229 COLONNADE ROAD, NEPEAN A6 K2E 7K3 |
| Senator Investment Group Lp |
10 percent owner |
510 MADISON AVENUE, 28TH FLOOR, NEW YORK NY 10022 |
| Douglas Silverman |
10 percent owner |
C/O SENATOR INVESTMENT GROUP LP 510 MADISON AVENUE, 28TH FLOOR NEW YORK NY 10022 |
| Bel Lazar |
officer: President & CEO |
4705 S. APOPKA VINELAND ROAD, SUITE 201, ORLANDO FL 32819 |
| Jason Dezwirek |
other: Former Dir, Sec & 10% owner |
2300 YONGE STREET, SUITE 1710, TORONTO A6 M4P 1E4 |
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