SCHEDULE B - FINANCIAL AND OPERATING RATIOS
BIOTECHNICA INTERNATIONAL, INC.
AND COMPARATIVE PUBLICLY TRADED COMPANIES
ASV AG Services of America NY
ABTX AgriBioTech NNM
ANDE The Andersons NNM
EECN Ecogen NNM
MYCO Mycogen NNM
PHB Pioneer HiBred NY
SMG The Scotts Company NY
Symbol ASV ABTX ANDE EECN MYCO PHB SMG * Average Median BioTechnica
For the Twelve Months Ended:For the Twelve Months Ended:
5/31/98 3/31/98 6/30/98 7/31/98 5/31/98 6/30/98 7/4/98 6/30/98
LIQUIDITY, COVERAGE & LEVERAGE
Current Ratio 1.23 1.24 1.43 2.56 1.51 2.77 1.80 1.71 1.51 1.18
Collection Period (Days) 235.82 76.75 22.67 83.59 117.41 81.03 45.50 80.86 81.03 141.33
Inventory Turnover 83.94 2.86 5.81 0.88 2.05 1.84 4.42 3.40 2.86 1.76
Sales/Assets (Avg.) 1.31 0.93 3.23 0.45 0.72 1.02 1.19 1.03 1.02 0.64
EBIT/Interest 2.43 0.97 2.70 -16.96 -16.22 38.18 2.74 1.77 2.43 -1.24
EBITDA/CMLTD + Interest 2.50 1.26 2.12 -11.95 7.55 33.93 3.55 3.40 2.50 -0.11
Equity/Assets (Avg.) 0.31 0.55 0.23 0.29 0.62 0.70 0.26 0.41 0.31 0.12
Equity/Ttl.Capitalization (Avg 0.88 0.95 0.53 0.57 0.94 0.99 0.34 0.77 0.88 0.21
PROFITABILITY
N I Cont Ops. / Sales 2.96% 1.70% 0.88% -75.20% 32.74% 15.05% 3.62% 1.83% 1.70% -17.20%
N I Cont Ops/Avg Equity 12.62% 2.85% 12.64% -117.14% 37.99% 21.75% 16.79% 8.98% 12.62% -92.42%
N I Cont Ops / Avg Assets 3.89% 1.58% 2.86% -33.96% 23.52% 15.32% 4.32% 2.53% 2.86% -10.95%
Gross Profit / Sales 5.48% 21.82% 16.33% 18.83% 36.72% 57.83% 37.31% 26.20% 21.82% 33.66%
Operating Expenses/Sales 3.96% 19.64% 13.82% 119.46% 61.27% 31.51% 24.43% 30.13% 24.43% 43.19%
Taxes / Pre-tax Income 35.94% -206.19% 33.50% 0.00% 2.44% 34.23% 41.37% 21.22% 33.50% -0.03%
SIZE AND GROWTH**
Size Measured by Sales($000)$192,098 $164,434 $1,067,918 $7,773 $209,074 $1,840,000 $1,078,600 $542,425 $209,074 $21,340
LTM EPS Cont. Ops. Growth n/a n/a 145.83% nmf nmf 7.92% n/a nmf nmf nmf
Forecasted Next Year EPS Growth 2.86% 13.79% -4.24% nmf nmf 20.18% 20.00% 12.22% 13.79% nmf
5 Year Forecasted EPS Growth 20.00% 49.00% 13.00% n/a 23.00% 16.00% 16.00% 18.75% 18.00% nmf
For the Fiscal Years Ended:
2/28/98 6/30/97 12/31/97 10/31/97 8/31/97 8/31/97 9/30/97 6/30/98
OTHER
EPS Coeff of Vari (2) 21.92% n/a 24.05% nmf nmf 20.51% 91.36% 22.98% 2.98% nmf
5 YEAR COMPOUND ANNUAL GROWTH RATE**
Assets 34.76% n/a 7.27% -5.55% 16.29% 5.68% 24.06% 13.33% 11.78% 27.64%
Sales 27.59% n/a 5.30% 20.07% 53.92% 7.17% 16.84% 17.92% 18.46% 20.97%
EPS Cont. Ops. 12.62% n/a -7.79% -27.87% nmf 11.92% 9.95% 7.29% 9.95% nmf
n/a = Not available * Average - mean, excluding the high and
and low amounts.
nmf = Not meaningful ** A negative value results in 0 value
being assinged.
EBIT = Earnings before interest and taxes (1) Total capitalization is long-term
debt plus stockholders' equity
EBITDA = Earnings before interest, taxes, depreciation and amortization (2) Coefficient of variation is a measure
of EPS volatility = five year standard
deviation
CMLTD = Current maturities of long-term debt of EPS/five year average EPS