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Financial Analysis of Home City Ice Co.

Discuss Financial Analysis of Home City Ice Co. within the Financial Management forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Home City Ice is a company based in Cincinnati, Ohio. Home City Ice delivers fresh ice to over 9 states. ...



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Financial Analysis of Home City Ice Co.
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Netra Shetty
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Financial Analysis of Home City Ice Co. - February 11th, 2011

Home City Ice is a company based in Cincinnati, Ohio. Home City Ice delivers fresh ice to over 9 states. Operating a number of plants from its headquarters in Cincinnati, to a branch plant in Pittsburgh, the corporation uses blue ice chests at local stores. Its bagging plant in Pittsburgh is one of the largest in the region with head bagging operator Anthony Antonace overseeing the vast stock of ice shipped out of the plant on a regular basis.
The Home City Ice Company was involved in a "cartel"[1]of large ice companies who conspired to eliminate smaller competition and keep retail prices higher than the market should have dictated. The Home City Ice Company pled guilty to violations of the Sherman Antitrust Act in 2007 as a result of these actions. Home City, along with two other large ice companies in the United States, colluded to artificially inflate retail ice prices by agreeing to not compete against one another in the Southeastern region of the state of Michigan. This violation may cost Home City up to $100 million dollars and a term of probation to be determined by the federal government.[2] No active officials within the company will be charged with any criminal charges as the violations were blamed on a now deceased former vice president.

Hologic is a leading developer, manufacturer, and supplier of diagnostic and medical imaging systems primarily dedicated to serving the healthcare needs of women. The company focuses its resources on developing systems and subsystems offering superior image quality and diagnostic accuracy, which has resulted in capturing significant market share and customer loyalty, despite the presence of large competitors. The company's core women's healthcare business units include mammography/ breast care osteoporosis assessment and other. The mammography/ breast care products include a broad product line of breast imaging and related products, including film-based and digital mammography systems, computer-aided detection (CAD), and breast biopsy systems. Beginning in 2006, the digital detector business was combined with the mammography operating segment to better reflect how the company views its operations and manage its business. The digital detector products are a digital component for Hologic's digital mammography equipment and, to a much lesser extent, are a digital component for original equipment manufacturers to incorporate into their own equipment. The osteoporosis assessment products primarily consist of dual-energy X-ray bone densitometry systems and, to a lesser extent, an ultrasound-based osteoporosis assessment product. The other business segment includes the mini C-arm, extremity MRI, conventional general radiography service, digital general radiography systems, and AEG photoconductor materials business. Hologic also provides product service and the revenues generated are allocated to the appropriate division. Hologic's customers include hospitals, imaging clinics and private practices, many of the leading healthcare organizations in the world, and major pharmaceutical companies utilizing its products in conducting clinical trials. Based on fiscal year results ended September 29, 2007, mammography/breast care, osteoporosis assessment, and other contributed roughly 79%, 9%, and 12% respectively to total revenue. Based on geography, revenue from the U.S., Europe, Asia, and all others contributed 75%, 15%, 5%, and 5% respectively to total fiscal 2007 revenue.

A wholly-owned subsidiary of Hologic, Cytyc is a diversified diagnostic and medical device company that designs, develops, manufactures, and markets innovative and clinically effective diagnostic and surgical products. Cytyc's products cover a range of cancer and women's health applications, including cervical cancer screening, pre-term birth risk assessment, treatment of excessive menstrual bleeding, radiation treatment of early-stage breast cancer, and radiation treatment of patients with malignant brain tumors. Hologic acquired Cytyc in October 2007. Cytyc previously operated its business in three segments: domestic diagnostic products, domestic surgical products, and international, which contributed 53%, 35%, and 12% respectively to total revenue for the nine months ended September 30, 2007.

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