# Mean Estimates Glossary

### DESCRIPTIVE

This is a four character field indicating the primary trading market for the company's common stock. The following are the valid codes: NYSE = New York Stock Exchange, AMEX = American Stock Exchange, NASD = Nasdaq Market, OTC = Pink Sheet or OTC Bulletin Board.

The code used to identify the currency in which the financial statements are reported.

This date indicates the last quarter or annual update with a complete set of financial records.

This date indicates when an Earnings Announcement was announced.

This is the company's preliminary operating results. This variable includes the most recent quarterly date announced as well as revenue, earnings, and EPS information for that quarter. These announcements are denoted by an "*" mark. Any ratio calculated using earnings announcement information is denoted by an "*" mark.

This field of information will give the investor a brief description of what the company's line of business is. It also gives information regarding the current period's revenues and earnings vs. the prior periods results.

This field starts off with the company's leading class of stock, and then proceeds to give insiders control, institutional ownership, IPO, and debt information.

This is a listing of the names and positions of the company's executive officers.

These notes are entered by the assigned Market Guide Analyst to explain reclassifications, restatements, stock splits, acquisitions, etc.

Market Guide has grouped its industries into 12 distinct sectors. These sectors represent different segments of the U.S. economy. The Market Guide Sector is displayed as a six character mnemonic.

Market Guide has grouped its company universe into more than 100 distinctive industries. These industries have been developed to contain those companies that operate along similar lines of business. The Market Guide Industry is displayed as a six character mnemonic.

This is the total number of full time or full time equivalent employees as reported by the company in its 10-K report.

The Standard Industrial Classification (SIC) Code is a four digit code that indicates the company's line of business. Market Guide's analysts assign SIC codes based on descending order of the company's revenue generated from each product line.

The Standard Industrial Classification (SIC) Code is a four digit code that indicates the company's line of business. Market Guide's analysts assign SIC codes based on descending order of the company's revenue generated from each product line.

### PRICE & VOLUME

This is the Closing or Last Bid Price. It is also referred to as the Current Price. For NYSE, AMEX, and Nasdaq traded companies, the price is the previous Friday's closing price. For companies traded on the National Quotation Bureau's "Pink Sheets", and OTC bulletin boards, it is the bid price obtained at the time the report is updated.

This price is the highest price the stock traded at in the last 12 months. This could be an intraday high.

This price is the lowest price the stock traded at in the last 12 months. This could be an intraday low.

This is the daily average of cumulative trading volume for the last three days.

This is the monthly average of the cumulative trading volume during the last three months divided by 22 days.

This is the daily average of the cumulative trading volume for the last 10 days.

Beta is a measure of a company's common stock price volatility relative to the market. The Market Guide Beta is the slope of the 60 month regression line of the percentage adjusted for regression tendencies reported by Blume.

### DIVIDEND INFORMATION

This value is the total of the expected dividend payments over the next twelve months. It is generally the most recent cash dividend paid or declared multiplied by the dividend payment frequency, plus any recurring extra dividend.

This value is the current percentage dividend yield based on the present cash dividend rate. It is calculated as the Indicated Annual Dividend divided by the current Price, multiplied by 100.

This value is the average of the dividend yield over the last 60 months.

This growth rate is the compound annual growth rate of cash dividends per common share of stock over the last 5 years.

This is the amount of the last quarterly dividend, if one has been declared by the company.

This is the first date on which a person purchasing the stock is no longer eligible to receive the last announced dividend. If a prospective dividend payment has been announced, this may be a future date. The format for this variable is MM/DD/YY (12/31/95).

This is the date on which payment for the last dividend declared will be made to the shareholders. The format for this variable is MM/DD/YY (12/31/95).

This value is the total of the expected dividend payments over the next twelve months. It is generally the most recent cash dividend paid or declared multiplied by the dividend payment frequency, plus any recurring extra dividends.

This value is the total of the expected dividend payments over the next twelve months. It is generally the most recent cash dividend paid or declared multiplied by the dividend payment frequency, plus any recurring extra dividends.

### SHARE RELATED ITEMS

This value is calculated by multiplying the current Price by the current number of Shares Outstanding.

This is the number of shares of common stock currently outstanding, less the shares held in treasury. This field reflects all offerings and acquisitions for stock made after the end of the previous fiscal period.

This is the number of freely traded shares in the hands of the public. Float is calculated as Shares Outstanding minus Shares Owned by Insiders, 5% Owners, and Rule 144 Shares.

### SHORT INTEREST

This represents the number of days it would take to cover the Short Interest if trading continued at the average daily volume for the month. It is calculated as the Short Interest for the Current Month divided by the Average Daily Volume.

This is the number of shares currently borrowed by investors for sale, but not yet returned to the owner (lender).

This is the number of shares borrowed in the prior month by investors for sale, but not yet returned to the owner (lender) during the prior month.

### INSTITUTIONAL OWNERSHIP

This is the number of institutions (pension funds, mutual funds, etc.) that currently report an investment position in the company's stock.

This is the total number of shares held by all institutions (pension funds, mutual funds, etc.) that report their holdings to the SEC.

This is the percent of common stock held by all the reporting institutions as a group. It is calculated as total shares owned by institutions divided by total shares outstanding multiplied by 100.

This is the number of shares of company stock purchased by institutions in the last three months reported by each institution.

This is the total number of shares of company stock sold by institutions in the last three months reported by each institution.

This is the net difference between the number of shares of company stock purchased by institutions and the number of shares sold by institutions in the last three months reported by each institution.

This is the percent of common stock held by all the reporting institutions as a group during the last three months. It is calculated as Total Shares Owned by Institutions divided by Total Shares Outstanding multiplied by 100.

### INSIDER TRADING

This is the net difference between the number of officers and directors that purchased the company's stock and the number of officers and directors that sold the company's stock in the last six months.

This is the number of officers and directors that purchased their company's common stock in the last six months.

This is the number of officers and directors that sold the company's stock in the last six months.

This is the number of shares of company stock purchased by officers and directors in the last six months.

This is the number of shares of company stock sold by officers and directors in the last six months.

This is the net difference between the number of shares of company stock purchased by officers and directors and the number of shares sold by officers and directors during the preceding six months.

This is the percent of common stock held by all the officers and directors of the company plus beneficial owners who own more than 5 percent of the subject company's stock as disclosed in the most recent proxy statement.

### VALUATION RATIOS

This ratio is calculated by dividing the current Price by the sum of the Primary Earnings Per Share from continuing operations BEFORE Extraordinary Items and Accounting Changes over the last four quarters.

The P/E Ratio for each of the past 60 months is calculated using the month end Price divided by the trailing twelve month Earnings Per Share (EPS) Excluding Extraordinary Items ending at least 1 month earlier than the pricing date. The highest of these 60 P/E values is the 5 Year High Price Earnings Ratio.

The P/E Ratio for each of the past 60 months is calculated using the month end Price divided by the trailing twelve month Earnings Per Share (EPS) Excluding Extraordinary Items ending at least 1 month earlier than the pricing date. The lowest of these 60 P/E values is the 5 Year Low Price Earnings Ratio.

This is the Price divided by the latest quarterly Tangible Book Value Per Share. Tangible Book Value Per Share is defined as Book Value minus Goodwill and Intangible Assets divided by the Shares Outstanding at the end of the fiscal quarter.

This is the Price divided by the latest quarterly Book Value Per Share.

This is the Price divided by the Sales Per Share for the trailing twelve months. If there is a preliminary earnings announcement for a quarter that has recently ended, the revenue (sales) values from this announcement will be used in calculating the trailing twelve month revenue per share.

This is the current Price divided by Cash Flow Per Share for the trailing twelve months. Cash Flow is defined as Income After Taxes minus Preferred Dividends and General Partner Distributions plus Depreciation, Depletion and Amortization.

This is the Price divided by the trailing twelve month Free Cash Flow Per Share. Free Cash Flow is calculated from the Statement of Cash Flows as Cash From Operations minus Capital Expenditures and Dividends Paid.

This value is the trailing twelve month Cash Flow divided by the trailing twelve month Average Shares Outstanding.

This is the trailing twelve month Free Cash Flow divided by the trailing twelve month Average Shares Outstanding found on the income statement.

### PROFITABILITY

This value measures the percent of revenue left after paying all direct production expenses. It is calculated as the trailing 12 months Total Revenue minus the trailing 12 months Cost of Goods Sold divided by the trailing 12 months Total Revenue and multiplied by 100.

This value is calculated by determining the Gross Margin for each of the 5 most recent fiscal years and then averaging the values. Gross Margin is Total Revenue minus Cost of Goods Sold divided by Total Revenue and is expressed as a percentage.

This value represents the trailing twelve month Earnings Before Interest, Taxes and Depreciation expressed as a percent of trailing twelve month Total Revenue.

This value is calculated by determining the annual EBITD Margins for the 5 most recent fiscal years and then averaging the values.

This value measures the percent of revenues remaining after paying all operating expenses. It is calculated as the trailing 12 months Operating Income divided by the trailing 12 months Total Revenue, multiplied by 100.

This value measures the percent of revenues remaining after paying all operating expenses. It is calculated by first determining the Operating Margin for each of the last 5 fiscal years and then averaging the values.

This value represents the trailing twelve month Income Before Taxes expressed as a percent of Total Revenue for the same period.

This value is calculated by determining the Pretax Margin for each of the 5 most recent fiscal years and averaging the values. Pretax Margin is defined as the Income Before Taxes divided by the Total Revenue. Also known as Return on Sales, this value is the Income After Taxes for the trailing twelve months divided by Total Revenue for the same period and is expressed as a percentage.

Also known as Return on Sales, this value is the Income After Taxes for the trailing twelve months divided by Total Revenue for the same period and is expressed as a percentage.

This value is calculated by determining the Net Profit Margin for each of the 5 most recent fiscal years and then averaging the values. Net Profit Margin is the Income After Taxes divided by Total Revenue, expressed as a percentage.

This value is the income taxes (credit) for the trailing twelve months divided by the trailing twelve months' income before taxes and expressed as a percentage. If the income tax is a credit, i.e. <0, the result is an NM.

This value is calculated by determining the Effective Tax Rate for the 5 most recent fiscal years and averaging the values.

### MANAGEMENT EFFECTIVENESS (%)

This value is the Income After Taxes for the trailing twelve months divided by the Average Total Assets, expressed as a percentage. Average Total Assets is calculated by adding the Total Assets for the 5 most recent quarters and dividing by 5.

This value is calculated by first determining the annual return on assets for each of the 5 most recent years and then averaging the resulting values.

This value is the trailing twelve month Income after taxes divided by the average total long term debt, other long term liabilities and shareholders equity, and expressed as a percentage.

This value is calculated by determining the annual Return on Investment for the five most resent fiscal years and then averaging the values. The return on investment is the annual income after taxes divided by the average total long term debt, other long term liabilities and shareholders equity and expressed as a percentage.

This value is the Income Available to Common Stockholders for the trailing twelve months divided by the Common Equity and is expressed as a percentage. Average Common Equity is calculated by adding the Common Equity for the 5 most recent quarters and dividing by 5.

This value is calculated by determining the annual Return on Average Common Equity for each of the 5 most recent years and then averaging the resulting values.

### FINANCIAL STRENGTH

This is the ratio of Total Current Assets for the most recent quarter divided by Total Current Liabilities for the same period.

Also known as the Acid Test Ratio, this ratio is defined as Cash plus Short Term Investments plus Accounts Receivable for the most recent fiscal quarter divided by the Total Current Liabilities for the same period.

This ratio is the Total Long Term Debt for the most recent fiscal quarter divided by Total Shareholder Equity for the same period.

This ratio is Total Debt for the most recent fiscal quarter divided by Total Shareholder Equity for the same period.

Also known as Times Interest Earned, this is the ratio of Earnings before interest and taxes for the trailing twelve months divided by the trailing twelve month interest expense.

This ratio is the percentage of the Primary Earnings Per Share Excluding Extraordinary Items paid to common stockholders in the form of cash dividends during the trailing twelve months.

### GROWTH

This is the percent change in annual Revenue as compared to the same period one year ago. It is calculated as the revenue for the most recent fiscal year minus the revenue for the same period one year ago divided by the annual revenue one year ago, multiplied by l00.

This value is calculated as the most recent quarterly Sales minus the Sales for the preceding quarter divided by the Sales for the preceding quarter and multiplied by 100.

This is the percent change in the trailing twelve month Sales as compared to the same trailing twelve month period one year ago.

This is the percent change in annual sales as compared to the same period one year ago.

This growth rate is the compound annual growth rate of Sales over the last 3 years.

This growth rate is the compound annual growth rate of Sales over the last 5 years.

This is the most recent quarterly EPS minus the preceding quarterly EPS divided by the EPS for the preceding quarter, multiplied by 100.

This is the percent change in the trailing twelve month EPS as compared to the same trailing twelve month period one year ago.

This is the percent change in annual EPS as compared to the same period one year ago.

This growth rate is the compound annual growth rate of Earnings Per Share Excluding Extraordinary Items and Discontinued Operations over the last 3 years.

This growth rate is the compound annual growth rate of Earnings Per Share Excluding Extraordinary Items and Discontinued Operations over the last 5 years.

This is the compound annual growth rate of Capital Spending over the last 5 years. Capital Spending is the sum of the Capital Expenditure items found on the Statement of Cash Flows.

This represents the percent of trailing twelve month earnings that have been ploughed back into the company. It is calculated as 100 minus the trailing twelve month Payout Ratio.

### PER SHARE DATA

This is the Adjusted Income Available to Common Stockholders for the trailing twelve months divided by the trailing twelve month Primary Weighted Average Shares Outstanding.

This value is the trailing twelve month Cash Flow divided by the trailing twelve month Average Shares Outstanding. Cash Flow is defined as the sum of Income After Taxes minus Preferred Dividends and General Partner Distributions plus Depreciation, Depletion and Amortization.

This is the trailing twelve month Free Cash Flow divided by the trailing twelve month Average Shares Outstanding found on the Income Statement.

This is the Total Cash plus Short Term Investments divided by the Shares Outstanding at the end of the most recent fiscal quarter.

This value is the trailing twelve month Total Revenue divided by the Average Primary Shares Outstanding for the trailing twelve months.

This is defined as the Common Shareholder's Equity divided by the Shares Outstanding at the end of the most recent fiscal quarter.

### BALANCE SHEET, QTR

Also referred to as Common Shareholder's Equity, this is the Total Shareholder's Equity as of the most recent quarterly Balance Sheet minus Preferred Stock and Redeemable Preferred Stock.

### EFFICIENCY RATIOS

This value is the trailing twelve month Total Sales divided by the number of employees at the end of the last reported fiscal year. The number of employees is defined as the number of full-time equivalent employees as reported in the company's 10-K report.

This value is the Income After Taxes for the trailing twelve months divided by the number of employees at the end of the last reported fiscal year. The number of employees is defined as the number of full-time equivalent employees reported on the Company's 10-K report.

This is the ratio of Total Revenue for the trailing twelve months divided by Average Accounts Receivables. Average Receivables is calculated by adding the Accounts Receivables for the 5 most recent quarters and dividing by 5.

This value measures how quickly the Inventory is sold. It is defined as Cost of Goods Sold for the trailing twelve months divided by Average Inventory. Average Inventory is calculated by adding the inventory for the 5 most recent quarters and dividing by 5.

This value is calculated as the Total Revenues for the trailing twelve months divided by the Average Total Assets. The Average Total Assets is defined as the Total Assets for the 5 most recent quarters divided by 5.

### INCOME STATEMENTS

This is the sum of all revenue (sales) reported for all operating divisions.

Also called the Cost of Revenue, this is the cost of all raw materials plus the work in process and the cost of producing the finished goods.

This is the total of the individual operating expense line items.

This is the Total Operating and Non-Operating Interest Expense.

Also known as Pretax Income and Earnings Before Taxes, this is Total Revenue minus Total Expenses plus Non-operating Income (Expenses).

Also known as After Tax Income for the most recent quarter, this is the money remaining after all expenses and taxes have been paid, but before any adjustments have been made.

This is the dollar amount accruing to common shareholders for dividends and retained earnings. Income Available to Common Shareholders is calculated as Income After Taxes plus Minority Interest and Equity in Affiliates plus Preferred Dividends, General Partner Distributions and US GAAP Adjustments.

This is the adjusted income available to Common divided by the primary weighted average shares outstanding.

This is the number of weighted average shares outstanding for the period.

This is the Common Stock Cash Dividends Per Share for the selected time period.

This is the number of shares of Common Stock that would be outstanding if all convertible securities were converted to Common.

### BALANCE SHEETS

This represents cash and all securities that can readily be transferred into cash as listed in the current assets section.

The sum of all investments that mature within one year.

This represents money owed to the company by customers for goods sold or services rendered, but not yet collected. This includes the trade receivables, finance receivables, and sales receivables.

This value is the sum of all current assets reported for the most recent time list.

This consists of direct materials, work-in-process, and finished goods ready for sale.

This reflects the depreciation for all capital goods.

This is the sum of all short and long term asset categories.

This is debt that comes due within one year.

This value is the sum of all current liabilities reported for the selected time period.

This is the sum of all Long Term Debt and Capitalized Lease Obligations.

Total Debt is the sum of Short Term Debt, the Current Portion of Long Term Debt and Capitalized Lease Obligations, Long Term Debt and Capitalized Lease Obligations.

This is the sum of all current and long term liabilities reported.

This is the sum of all the individual equity line items on the quarterly Balance Sheet.

This is the number of shares outstanding at the end of a fiscal period as reported in the Balance Sheet. This is the number of shares issued minus the shares held in Treasury.

### CASH FLOW STATEMENTS

The sum of all the individual operating activity cash flow line items.

The sum of all the individual investing activity cash flow line items.

The sum of all the individual financing activity cash flow line items.

It is calculated by adding cash from operating, investing, and financing activities and foreign exchange effects from the Statement of Cash Flows.

### Contacts

**Computershare Investor Services**

P.O. Box 505000

Louisville, KY 40233-5000

www.Computershare.com/investor

phone: (800) 446-2617

Stock transfer agent

Submit questions for the Investor Relations Department.

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