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PreVu Beneish M-Score

: 0.00 (As of Today)
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The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for PreVu's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of PreVu was 0.00. The lowest was 0.00. And the median was 0.00.


PreVu Beneish M-Score Historical Data

The historical data trend for PreVu's Beneish M-Score can be seen below:

* 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.

* Premium members only.

PreVu Annual Data
Trend Jan98 Jan99 Jan00 Jan01 Jan02 Jan03 Jan04 Jan05 Jan06 Jan07
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

PreVu Quarterly Data
Jul03 Oct03 Jan04 Apr04 Jul04 Oct04 Jan05 Apr05 Jul05 Oct05 Jan06 Apr06 Jul06 Oct06 Jan07 Apr07 Jul07 Oct07 Jan08 Apr08
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

Competitive Comparison

For the Apparel Retail subindustry, PreVu's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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.

   

PreVu Beneish M-Score Distribution

For the Retail - Cyclical industry and Consumer Cyclical sector, PreVu's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PreVu's Beneish M-Score falls into.



PreVu Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of PreVu for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.1235+0.528 * 1.2332+0.404 * 1.3958+0.892 * 0.8973+0.115 * 0.5651
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9924+4.679 * -0.9804-0.327 * 1.2347
=-6.89

* 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.

This Year (Apr08) TTM:Last Year (Apr07) TTM:
Total Receivables was $3.0 Mil.
Revenue was 36.435 + 121.424 + 57.833 + 43.586 = $259.3 Mil.
Gross Profit was 4.971 + 43.212 + 7.676 + -2.423 = $53.4 Mil.
Total Current Assets was $49.1 Mil.
Total Assets was $64.7 Mil.
Property, Plant and Equipment(Net PPE) was $14.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $10.8 Mil.
Selling, General, & Admin. Expense(SGA) was $92.3 Mil.
Total Current Liabilities was $29.9 Mil.
Long-Term Debt & Capital Lease Obligation was $0.0 Mil.
Net Income was -22.364 + -8.38 + -18.521 + -29.376 = $-78.6 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 3.769 + 32.528 + -31.591 + -19.888 = $-15.2 Mil.
Total Receivables was $2.9 Mil.
Revenue was 42.364 + 132.967 + 64.457 + 49.158 = $288.9 Mil.
Gross Profit was 6.159 + 49.982 + 15.421 + 1.878 = $73.4 Mil.
Total Current Assets was $81.0 Mil.
Total Assets was $120.5 Mil.
Property, Plant and Equipment(Net PPE) was $38.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $12.0 Mil.
Selling, General, & Admin. Expense(SGA) was $103.6 Mil.
Total Current Liabilities was $25.0 Mil.
Long-Term Debt & Capital Lease Obligation was $20.0 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(2.958 / 259.278) / (2.934 / 288.946)
=0.0114086 / 0.01015415
=1.1235

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(73.44 / 288.946) / (53.436 / 259.278)
=0.25416514 / 0.20609539
=1.2332

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (49.055 + 14.789) / 64.729) / (1 - (81.035 + 38.249) / 120.464)
=0.01367239 / 0.00979546
=1.3958

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=259.278 / 288.946
=0.8973

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(11.985 / (11.985 + 38.249)) / (10.805 / (10.805 + 14.789))
=0.23858343 / 0.42216926
=0.5651

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(92.294 / 259.278) / (103.639 / 288.946)
=0.35596541 / 0.35867948
=0.9924

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((0 + 29.857) / 64.729) / ((20 + 25.004) / 120.464)
=0.46126157 / 0.37358879
=1.2347

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-78.641 - 0 - -15.182) / 64.729
=-0.9804

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

PreVu has a M-score of -6.89 suggests that the company is unlikely to be a manipulator.


PreVu Business Description

PreVu logo
Traded in Other Exchanges
N/A
Address
7401 Boone Avenue North, Brooklyn Park, MN, USA, 55428
PreVu Inc is a retailer of leather outerwear, accessories and apparel in the United States. The company's products include men's and women's fashion leather jackets, handbags and other accessories.
Executives
Farley William F director 700 SOUTH SECOND STREET #90 MINNEAPOLIS MN 55402
Searles Michael M director, officer: Chief Executive Officer 7401 BOONE AVENUE NORTH BROOKLYN PARK MN 55428
Sweeney Michael T director GOLDNER HAWN 3700 WELLS FARGO CENTER, 90 SOUTH 7TH ST MINNEAPOLIS MN 55402
Weschler, R. Ted director, 10 percent owner 404B EAST MAIN STREET 2ND FLOOR CHARLOTTESVILLE VA 22902
Peninsula Investment Partners, L.p. 10 percent owner 404B EAST MAIN STREET 2ND FLOOR CHARLOTTESVILLE, VA 22902
Peninsula Capital Advisors Llc 10 percent owner 404B EAST MAIN STREET 2ND FLOOR CHARLOTTESVILLE, VA 22902
Cowhing Michael T director C/O NEWELL RUBBERMAID INC. THREE GLENLAKE PKWY. ATLANTA 2Q 30328
Mccoy Michael J director 1 HORMEL PLACE AUSTIN TX 55912
Michielutti Peter G officer: Executive VP, CFO & COO 2400 XENIUM LANE NORTH PLYMOUTH MN 55441
Waller Joel N director 2400 XENIUM LANE NORTH PLYMOUTH MN 55441
Berman Lyle director 10275 WAYZATA BOULEVARD SUITE 100 MINNETONKA MN 55305
Vitali Cheryl L director
Grassle Jenele C officer: Vice President 605 HWY 169 N SUITE 400 MINNEAPOLIS MN 55441

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