Hemagen Diagnostics (Hemagen Diagnostics) ROCE % : -31.05% (As of Sep. 2012)

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What is Hemagen Diagnostics ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Hemagen Diagnostics's annualized ROCE % for the quarter that ended in Sep. 2012 was -31.05%.

Hemagen Diagnostics ROCE % Historical Data

The historical data trend for Hemagen Diagnostics's ROCE % 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.

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Hemagen Diagnostics ROCE % Chart

Hemagen Diagnostics Annual Data

Trend

Sep03

Sep04

Sep05

Sep06

Sep07

Sep08

Sep09

Sep10

Sep11

Sep12

ROCE %

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16.24

-54.02

11.90

-26.37

-47.22

Hemagen Diagnostics Quarterly Data
	Dec07	Mar08	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12
ROCE %	Get a 7-Day Free Trial															-43.40	-86.04	-56.86	-6.76	-31.05

Hemagen Diagnostics ROCE % Calculation

Hemagen Diagnostics's annualized ROCE % for the fiscal year that ended in Sep. 2012 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Sep. 2012 )		(A: Sep. 2011 )		(A: Sep. 2012 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Sep. 2012 )		(A: Sep. 2011 )		(A: Sep. 2012 )
	=	-0.438	/	( ( (2.888 - 1.526)	+	(2.443 - 1.95) )	/ 2 )
	=	-0.438	/	( (1.362	+	0.493)	/ 2 )
	=	-0.438	/	0.9275
	=	-47.22 %

Hemagen Diagnostics's ROCE % of for the quarter that ended in Sep. 2012 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Sep. 2012 )		(Q: Jun. 2012 )		(Q: Sep. 2012 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Sep. 2012 )		(Q: Jun. 2012 )		(Q: Sep. 2012 )
	=	-0.172	/	( ( (2.521 - 1.906)	+	(2.443 - 1.95) )	/ 2 )
	=	-0.172	/	( ( 0.615	+	0.493 )	/ 2 )
	=	-0.172	/	0.554
	=	-31.05 %

(1) Note: The EBIT data used here is four times the quarterly (Sep. 2012) EBIT data.

Hemagen Diagnostics (OTCPK:HMGN) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

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Hemagen Diagnostics (Hemagen Diagnostics) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Hemagen Diagnostics Inc (OTCPK:HMGN) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

N/A

Address

9033 Red Branch Road, Columbia, MD, USA, 21045

Website

http://www.hemagen.com

Hemagen Diagnostics Inc is a biotechnology company. It develops, manufactures and markets Food and Drug Administration cleared proprietary medical diagnostic test kits and components. The company's Virgo line of Immunoassays are used to aid in the diagnosis of autoimmune and infectious diseases and acute-phase proteins. The assays utilize multiple technologies including ELISA, immunofluorescence (IFA) and hemagglutination (HA). Its products include ANA Screen ELISA 96 Test System, Rubella IgG ELISA 96 Test System, AMA IFA 48 Test System and others.

Executives

Howard F Curd

director

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