WellsGardner Electronics Corp (WGA, Financial) filed Annual Report for the period ended 2010-12-31.
Wells Gardner Elelctronics Corp. has a market cap of $28.1 million; its shares were traded at around $2.5599 with a P/E ratio of 85.3 and P/S ratio of 0.6.
The Company s export sales accounted for total revenues of 22%, 27% and 24%, in 2010, 2009, and 2008, respectively, with the majority of these sales being shipped to Australia.
Our largest customer, Aristocrat Technologies Pty. Ltd., with whom we have a non exclusive supply agreement for 22” LCDs through October, 2012, accounted for 25%, 35% and 40% of total revenues in 2010, 2009, and 2008, respectively, and 16%, 45%, and 36% of total accounts receivable in 2010, 2009, and 2008, respectively. A loss of this contract or customer would significantly reduce our revenues and profitability.
The Company s current manufacturing and corporate headquarters is located at 9500 West 55th Street, Suite A, McCook, Illinois 60525. The Company s leased McCook facility has approximately 104,000 square feet of floor space. Approximately 40,000 of the 104,000 square feet of the plant are dedicated to production and service and approximately 43,000 of the 104,000 square feet are devoted to warehousing. Offices for engineering, sales and administration are also located at that facility. The plant is in good condition, is well maintained, and currently has over 80% excess production capacity as the Company currently runs at 15% capacity on one shift and could run multiple shifts. The Company plans to reduce its production area to approximately 20,000 square feet and increase its warehousing space to 63,000 square feet in support of the new Illinois Video Lottery Terminal business for the second half of 2011. The Company also has other smaller leased facilities to support the operations of AGE in Nevada, New Jersey and Florida.
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Wells Gardner Elelctronics Corp. has a market cap of $28.1 million; its shares were traded at around $2.5599 with a P/E ratio of 85.3 and P/S ratio of 0.6.
Highlight of Business Operations:
The Company s largest customer, Aristocrat, accounted for 25%, 35%, and 40% of total revenues in 2010, 2009, and 2008, respectively, and 16%, 45%, and 36% of total accounts receivable in 2010, 2009, and 2008, respectively. The second largest customer accounted for 18% and 15% of total revenue in 2010 and 2009 and 7% and 21% of total accounts receivable in 2010 and 2009. The next largest customer accounted for 8% and10% of total revenues in 2010 and 2009 and 9% and 7% of total accounts receivable in 2010 and 2009. No other customers accounted for more than 10% of sales in 2010, 2009, and 2008, respectively.The Company s export sales accounted for total revenues of 22%, 27% and 24%, in 2010, 2009, and 2008, respectively, with the majority of these sales being shipped to Australia.
Our largest customer, Aristocrat Technologies Pty. Ltd., with whom we have a non exclusive supply agreement for 22” LCDs through October, 2012, accounted for 25%, 35% and 40% of total revenues in 2010, 2009, and 2008, respectively, and 16%, 45%, and 36% of total accounts receivable in 2010, 2009, and 2008, respectively. A loss of this contract or customer would significantly reduce our revenues and profitability.
The Company s current manufacturing and corporate headquarters is located at 9500 West 55th Street, Suite A, McCook, Illinois 60525. The Company s leased McCook facility has approximately 104,000 square feet of floor space. Approximately 40,000 of the 104,000 square feet of the plant are dedicated to production and service and approximately 43,000 of the 104,000 square feet are devoted to warehousing. Offices for engineering, sales and administration are also located at that facility. The plant is in good condition, is well maintained, and currently has over 80% excess production capacity as the Company currently runs at 15% capacity on one shift and could run multiple shifts. The Company plans to reduce its production area to approximately 20,000 square feet and increase its warehousing space to 63,000 square feet in support of the new Illinois Video Lottery Terminal business for the second half of 2011. The Company also has other smaller leased facilities to support the operations of AGE in Nevada, New Jersey and Florida.
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