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to its existing debt Once the buyer determines the value she wants to pay, she can agree to inherit the debt as part of her payment For example, if the company s value is $5 million, the buyer can agree to pay it by assuming the $1 million of long-term debt that the seller owes and paying the $4 million balance in cash Multiple of Sales This multiple is one of the more widely used valuation methods Sales growth prospects and investor optimism play a major role in determining the level of the multiple to be used, and different industries use different multiples In the food industry, businesses generally sell for 1 to 2 times revenue, but sales growth prospects can have an impact on raising or lowering the multiplier For example, Quaker Oats, a strategic buyer, paid $17 billion, or 35 times revenue, for Snapple in 1995 at a time when similar companies were being sold for a sales multiple of 2 or less Quaker s rationale: it expected rapid growth from Snapple However, that rapid growth did not happen Two years later, Quaker sold Snapple to Triarc Cos for $300 million, equivalent to a little more than 50 percent of its annual revenues of $550 million Quaker s obvious overvaluation of Snapple was instrumental in the CEO s departure from the company On the other hand, Triarc s owners were given the greatest compliment after buying Snapple when someone said, They stole the company! 17 In 2001, PepsiCo acquired Quaker for $134 billion Other industries that are commonly valued on a multiple of revenues include the radio station industry Typical valuations are 20 to 25 times revenues for small-market stations, 3 to 35 times for middle-market stations, and 4 times for large-market stations Another such industry is professional services firms, which are typically valued at 1 to 3 times revenues But the most prominent industry that used the multiple of sales model is technology, especially the Internet industry, which will be discussed in more detail later in this chapter The shortcoming of this method is that it ignores whether the company is making cash The focus is entirely on the top line Therefore, this valuation method is best suited for those entrepreneurs who are focusing on growing market share by acquiring.



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Nov 17, 2016 · Gnostice Document Studio .NET is the next-generation multi-format document-​processing component suite for .NET developers. It supports ... Version: 2019.1.1 Report: Report Abuse

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Open PDF Document via PDFViewer in C# , VB.NET - E-Iceblue
Step 2: Open a PDF Document with C# , VB.NET via Spire.PDFViewer. Method one: This method is to directly load a PDF file from system, then open it. [C#].

Table 7-1 Continued: Interest Level of Terrorist and Criminal Groups in Launching Information Warfare Attacks Against Organizations in an Industry Sector Sector/Industry Terrorist Group Rogue Criminal Interest Level Interest Level





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competitors The idea is to buy new customers and rely on your own operational skills and experience to make each new customer a cash flow contributor This method is best carried out by entrepreneurs who are well experienced in operating a profitable venture in the same industry as that of the company being acquired Multiple of Unique Monthly Visitors This valuation method has surfaced primarily in the Internet space In 2005, News Corporation purchased MySpace for $580 million, or $293 per unique monthly visitor The next year, Google purchased YouTube for $165 billion, or $4 per unique monthly visitor Additionally, in 2008, NBC Universal agreed to buy the Weather Channel for $35 billion At the time of purchase, the Weather Channel s Web site had 37 million unique monthly visitors, making it a top 15 Web site This purchase price translates into a price of $940 per unique monthly visitor18 P/E Ratio Method Another common valuation method that falls in the multiples category is the price/earnings ratio The P/E ratio model is commonly used when valuing publicly owned companies The P/E ratio is the multiplier used with the company s after-tax earnings to determine its value It is calculated by dividing the company s stock price per share by the earnings per share (EPS) for the trailing 12 months For example, a company with a stock price of $25 per share, 400,000 shares outstanding, and trailing 12 months earnings of $1 million will have a P/E ratio of 10, calculated as shown in Figure 7-6 In the figure, the P/E of 10 means that it costs $10 to buy $1 in profit, or conversely, that an investor s return is 10 percent This return compares very favorably with the 58 percent historical average returns of long-term bonds19

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Reading PDF documents in . Net - Stack Overflow
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NET PDF Viewer component. With Spire. PDFViewer , developers can create any WinForms application to open, view and print PDF document in C# and Visual ...

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My pdf document is there in my C# project folder. ... a simple way assuming that you have a default reader (ex: Acrobat Reader) for PDF Files .

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