[파워테크놀로지]평가가액7,613원(77%~93%)공모가

<P>(나) 파워테크놀러지(주)의 평가가치 산출<BR><BR>- 엔화기준<BR><BR> <TABLE border=1 width=621> <COLGROUP> <COL width=236></COL> <COL width=230></COL> <COL width=128></COL></COLGROUP> <THEAD> <TR> <TH height=20 width=236 align=middle>구분</TH> <TH height=20 width=230 align=middle>내역</TH> <TH height=20 width=128 align=middle>비고</TH></TR></THEAD> <TBODY> <TR> <TD height=20 width=236>2010년 당기순이익(엔)</TD> <TD height=20 vAlign=top width=230 align=right>331,614,724</TD> <TD height=20 width=128 align=middle>A</TD></TR> <TR> <TD height=20 width=236>2011년 예상당기순이익(엔)</TD> <TD height=20 vAlign=top width=230 align=right>487,507,762</TD> <TD height=20 width=128 align=middle>B</TD></TR> <TR> <TD height=20 width=236>평균 당기순이익(천엔)</TD> <TD height=20 vAlign=top width=230 align=right>409,561,243</TD> <TD height=20 width=128 align=middle>C=(A+B)/2</TD></TR> <TR> <TD height=20 width=236>적용주식수(주)  주1)</TD> <TD height=20 vAlign=top width=230 align=right>6,914,000</TD> <TD height=20 width=128 align=middle>D</TD></TR> <TR> <TD height=20 width=236>주당순이익(EPS)(엔)  주2)</TD> <TD height=20 vAlign=top width=230 align=right>59</TD> <TD height=20 width=128 align=middle>E = C ÷ D</TD></TR> <TR> <TD height=20 width=236>적용 PER(배) </TD> <TD height=20 vAlign=top width=230 align=right>8.7</TD> <TD height=20 width=128 align=middle>F</TD></TR> <TR> <TD height=20 width=236>주당 가치(엔) </TD> <TD height=20 vAlign=top width=230 align=right>513</TD> <TD height=20 width=128 align=middle>G = E × F</TD></TR></TBODY></TABLE></P> <P style="FONT-FAMILY: 굴림">주1) 적용주식수는 증권신고서 제출일 현재 발행된 보통주식수(5,680,000주)와 본 공모에 따른 신주 모집분(800,000주) 및 신주예약권(434,000주)을 감안하여 계산된 주식수 입니다.<BR>주2) 주당순이익(EPS)는 평균 당기순이익을 적용주식수로 나누어 산정한 수치입니다.<BR><BR></P> <P style="FONT-FAMILY: 굴림">- 원화기준<BR><BR>환율의 경우 평가기준일(2011년 11월 9일)로부터 소급하여 1개월간(2011년 10월 10일~2011년 11월 9일)의 서울외국환중개 평균 매매개시환율인 14.7715원을 적용하였습니다.<BR><BR></P> <P> <TABLE border=1 width=621> <COLGROUP> <COL width=236></COL> <COL width=230></COL> <COL width=128></COL></COLGROUP> <THEAD> <TR> <TH height=20 width=236 align=middle>구분</TH> <TH height=20 width=230 align=middle>내역</TH> <TH height=20 width=128 align=middle>비고</TH></TR></THEAD> <TBODY> <TR> <TD height=20 width=236>2010년 당기순이익(천원)</TD> <TD height=20 vAlign=top width=230 align=right>4,898,447</TD> <TD height=20 width=128 align=middle>A</TD></TR> <TR> <TD height=20 width=236>2011년 예상당기순이익(천원)</TD> <TD height=20 vAlign=top width=230 align=right>7,201,221</TD> <TD height=20 width=128 align=middle>B</TD></TR> <TR> <TD height=20 width=236>평균 당기순이익(천원)</TD> <TD height=20 vAlign=top width=230 align=right>6,049,834</TD> <TD height=20 width=128 align=middle>C=(A+B)/2</TD></TR> <TR> <TD height=20 width=236>적용주식수(주)  주1)</TD> <TD height=20 vAlign=top width=230 align=right>6,914,000</TD> <TD height=20 width=128 align=middle>D</TD></TR> <TR> <TD height=20 width=236>주당순이익(EPS)(원)  주2)</TD> <TD height=20 vAlign=top width=230 align=right>875</TD> <TD height=20 width=128 align=middle>E = C ÷ D</TD></TR> <TR> <TD height=20 width=236>적용 PER(배)</TD> <TD height=20 vAlign=top width=230 align=right>8.7</TD> <TD height=20 width=128 align=middle>F</TD></TR> <TR> <TD height=20 width=236>주당 가치(원)</TD> <TD height=20 vAlign=top width=230 align=right>7,613</TD> <TD height=20 width=128 align=middle>G = E × F</TD></TR></TBODY></TABLE></P> <P style="FONT-FAMILY: 굴림"><BR>참고적으로 엔화 및 원화기준 주당순이익 및 주당 가치의 경우 소수점 첫째자리에서 반올림하여 산정한 수치입니다.<BR><BR>(4) 공모희망가액의 산정<BR><BR></P> <P> <TABLE border=1 width=623> <COLGROUP> <COL width=164></COL> <COL width=172></COL> <COL width=260></COL></COLGROUP> <THEAD> <TR> <TH height=20 width=164 align=middle>구분</TH> <TH height=20 width=172 align=middle>내용</TH> <TH height=20 width=260 align=middle>비고</TH></TR></THEAD> <TBODY> <TR> <TD height=20 width=164>평가가액</TD> <TD height=20 width=172 align=middle>7,613원</TD> <TD height=20 width=260>PER 지표 가치</TD></TR> <TR> <TD height=43 width=164>공모희망가액</TD> <TD height=43 width=172 align=middle>5,900원 ~  7,100원</TD> <TD height=43 width=260>평가가액 대비<BR>약 77.5% ~ 93.3% 수준</TD></TR> <TR> <TD height=20 width=164>확정공모가액</TD> <TD height=20 width=172 align=middle>-</TD> <TD height=20 width=260>수요예측 결과를 반영하여 확정</TD></TR></TBODY></TABLE></P> <P style="FONT-FAMILY: 굴림"><BR>주당 평가가액은 상기 유사회사의 2011년 반기 및 2010년 재무현황을 기준으로 기준주가를 반영하여 PER의 평균값을 산출하였고, 동사의 2011년 반기 및 2010년 재무현황에 산출된 PER를 적용하여 비교가치 주당평가가액을 산정하였습니다.<BR><BR>대표주관회사인 대우증권(주)은 금번 공모를 위한 파워테크놀러지(주)의 희망공모가액을 제시함에 있어 주당평가가액은 7,613원으로 산정하였으며, 평가가액 대비 약 77.5% ~ 93.3% 수준인 5,900원 ~ 7,100원을 희망공모가액으로 제시하였습니다. 대표주관회사인 대우증권(주)은 제시한 공모희망가액을 근거로 수요예측을 실시하여 가중평균가격을 산정한 후, 시장상황등을 고려하여 발행회사인 파워테크놀러지(주)와 협의하여 공모가격을 결정할 예정입니다<BR></P> <P style="FONT-FAMILY: 굴림">(가) 비교회사 PER 산정<BR><BR></P> <P style="FONT-FAMILY: 굴림"> <TABLE border=1 width=622> <COLGROUP> <COL width=112></COL> <COL width=111></COL> <COL width=118></COL> <COL width=118></COL> <COL width=118></COL></COLGROUP> <THEAD> <TR> <TH height=20 width=232 colSpan=2 align=middle>구분</TH> <TH height=20 width=118 align=middle>㈜더존비즈온</TH> <TH height=20 width=118 align=middle>㈜가비아</TH> <TH height=20 width=118 align=middle>㈜다우기술</TH></TR></THEAD> <TBODY> <TR> <TD height=20 width=232 colSpan=2>2010년 당기순이익(백만원)</TD> <TD height=20 vAlign=top width=118 align=right>25,364</TD> <TD height=20 vAlign=top width=118 align=right>3,770</TD> <TD height=20 vAlign=top width=118 align=right>71,364</TD></TR> <TR> <TD height=20 width=232 colSpan=2>2011년 예상 당기순이익(백만원)</TD> <TD height=20 vAlign=top width=118 align=right>13,839</TD> <TD height=20 vAlign=top width=118 align=right>3,929</TD> <TD height=20 vAlign=top width=118 align=right>33,238</TD></TR> <TR> <TD height=20 width=232 colSpan=2>평균 당기순이익(백만원)</TD> <TD height=20 vAlign=top width=118 align=right>19,602</TD> <TD height=20 vAlign=top width=118 align=right>3,850</TD> <TD height=20 vAlign=top width=118 align=right>52,301</TD></TR> <TR> <TD height=20 width=232 colSpan=2>2010년 주당순이익(원)</TD> <TD height=20 vAlign=top width=118 align=right>906</TD> <TD height=20 vAlign=top width=118 align=right>308</TD> <TD height=20 vAlign=top width=118 align=right>1,672</TD></TR> <TR> <TD height=20 width=232 colSpan=2>2011년 예상 주당순이익(원)</TD> <TD height=20 vAlign=top width=118 align=right>494</TD> <TD height=20 vAlign=top width=118 align=right>322</TD> <TD height=20 vAlign=top width=118 align=right>778</TD></TR> <TR> <TD height=20 width=232 colSpan=2>평균 주당순이익(원)</TD> <TD height=20 vAlign=top width=118 align=right>700</TD> <TD height=20 vAlign=top width=118 align=right>315</TD> <TD height=20 vAlign=top width=118 align=right>1,225</TD></TR> <TR> <TD height=20 width=232 colSpan=2>기준주가(원)</TD> <TD height=20 vAlign=top width=118 align=right>6,720</TD> <TD height=20 vAlign=top width=118 align=right>2,638</TD> <TD height=20 vAlign=top width=118 align=right>9,990</TD></TR> <TR> <TD height=50 rowSpan=2 width=112>PER(배)</TD> <TD height=20 width=111>개별유사기업</TD> <TD height=20 vAlign=top width=118 align=right>9.6</TD> <TD height=20 vAlign=top width=118 align=right>8.4</TD> <TD height=20 vAlign=top width=118 align=right>8.2</TD></TR> <TR> <TD height=20 width=111>단순평균</TD> <TD height=20 width=372 colSpan=3 align=middle>8.7</TD></TR></TBODY></TABLE></P> <P style="FONT-FAMILY: 굴림">주1) 당기순이익 : <BR>2010년도 감사보고서, 2011년 반기 검토보고서 상의 금액을 단순 연환산함.<BR><BR>주2) 주당순이익(EPS) : <BR>2010년 기말 감사보고서상 주당순이익으로 산정함, 2011년 반기 검토보고서 상의 금액을 단순 연환산함.<BR><BR>주3) 기준주가 : 평가기준일(2011년 11월 9일)로부터 소급하여 1개월간(2011년 10월 10일~2011년 11월 9일)의 종가를 산술평균, 1주일간(2011년 11월 3일~2011년 11월 9일)의 종가의 산술평균을 산정한 후 이들을 평가기준일 종가와 비교하여 가장 낮은 주가를 기준주가로 사용함.<BR></P> <P style="FONT-FAMILY: 굴림">다. 기상장(등록)기업과의 비교참고 정보</P> <P style="FONT-FAMILY: 굴림"><BR></P> <P style="FONT-FAMILY: 굴림">대표주관회사인 대우증권(주)은 발행회사인 파워테크놀러지(주)의 지분증권 평가를 위하여 사업의 유사성, 재무적 기준, 일반 기준 등의 선정 기준에서 일정수준 이상 충족하는 ㈜더존비즈온, ㈜가비아 및 ㈜다우기술을 최종 유사회사로 선정하였습니다.<BR><BR></P> <P style="FONT-FAMILY: 굴림">다만, 상기된 유사 회사들은 주력 제품 및 관련 시장, 영업 환경, 성장성 등에 있어 차이가 존재할 수 있으며, 투자자들께서는 비교참고정보를 토대로 투자의사 결정시 이러한 차이점이 존재한다는 사실에 유의하시기 바랍니다. <BR><BR>(1) 요약 재무현황<BR><BR></P> <P style="FONT-FAMILY: 굴림">(가) 2010년 요약 재무현황<BR><BR></P> <P style="FONT-FAMILY: 굴림"> <TABLE class=nb width=597> <COLGROUP> <COL width=588></COL></COLGROUP> <TBODY> <TR> <TD height=20 vAlign=top width=588 align=right>(단위 : 백만원)</TD></TR></TBODY></TABLE> <TABLE border=1 width=611> <COLGROUP> <COL width=149></COL> <COL width=142></COL> <COL width=142></COL> <COL width=142></COL></COLGROUP> <THEAD> <TR> <TH height=20 width=149 align=middle>구 분</TH> <TH height=20 width=142 align=middle>(주)더존비즈온</TH> <TH height=20 width=142 align=middle>(주)가비아</TH> <TH height=20 width=142 align=middle>(주)다우기술</TH></TR></THEAD> <TBODY> <TR> <TD height=20 vAlign=top width=149>[유동자산]</TD> <TD height=20 vAlign=top width=142 align=right>77,346</TD> <TD height=20 vAlign=top width=142 align=right>10,390</TD> <TD height=20 vAlign=top width=142 align=right>185,858</TD></TR> <TR> <TD height=20 vAlign=top width=149>ㆍ당좌자산</TD> <TD height=20 vAlign=top width=142 align=right>74,512</TD> <TD height=20 vAlign=top width=142 align=right>10,390</TD> <TD height=20 vAlign=top width=142 align=right>173,908</TD></TR> <TR> <TD height=20 vAlign=top width=149>ㆍ재고자산</TD> <TD height=20 vAlign=top width=142 align=right>2,834</TD> <TD height=20 vAlign=top width=142 align=right>-</TD> <TD height=20 vAlign=top width=142 align=right>11,950</TD></TR> <TR> <TD height=20 vAlign=top width=149>[비유동자산]</TD> <TD height=20 vAlign=top width=142 align=right>35,238</TD> <TD height=20 vAlign=top width=142 align=right>24,908</TD> <TD height=20 vAlign=top width=142 align=right>533,868</TD></TR> <TR> <TD height=20 vAlign=top width=149>ㆍ투자자산</TD> <TD height=20 vAlign=top width=142 align=right>6,741</TD> <TD height=20 vAlign=top width=142 align=right>18,440</TD> <TD height=20 vAlign=top width=142 align=right>367,656</TD></TR> <TR> <TD height=20 vAlign=top width=149>ㆍ유형자산</TD> <TD height=20 vAlign=top width=142 align=right>8,851</TD> <TD height=20 vAlign=top width=142 align=right>4,959</TD> <TD height=20 vAlign=top width=142 align=right>156,441</TD></TR> <TR> <TD height=20 vAlign=top width=149>ㆍ무형자산</TD> <TD height=20 vAlign=top width=142 align=right>8,736</TD> <TD height=20 vAlign=top width=142 align=right>818</TD> <TD height=20 vAlign=top width=142 align=right>4,178</TD></TR> <TR> <TD height=20 vAlign=top width=149>ㆍ기타비유동자산</TD> <TD height=20 vAlign=top width=142 align=right>10,909</TD> <TD height=20 vAlign=top width=142 align=right>691</TD> <TD height=20 vAlign=top width=142 align=right>5,593</TD></TR> <TR> <TD height=20 vAlign=top width=149>자산총계</TD> <TD height=20 vAlign=top width=142 align=right>112,584</TD> <TD height=20 vAlign=top width=142 align=right>35,298</TD> <TD height=20 vAlign=top width=142 align=right>719,726</TD></TR> <TR> <TD height=20 vAlign=top width=149>[유동부채]</TD> <TD height=20 vAlign=top width=142 align=right>43,048</TD> <TD height=20 vAlign=top width=142 align=right>6,587</TD> <TD height=20 vAlign=top width=142 align=right>150,000</TD></TR> <TR> <TD height=20 vAlign=top width=149>[비유동부채]</TD> <TD height=20 vAlign=top width=142 align=right>972</TD> <TD height=20 vAlign=top width=142 align=right>6,521</TD> <TD height=20 vAlign=top width=142 align=right>56,423</TD></TR> <TR> <TD height=20 vAlign=top width=149>부채총계</TD> <TD height=20 vAlign=top width=142 align=right>44,020</TD> <TD height=20 vAlign=top width=142 align=right>13,108</TD> <TD height=20 vAlign=top width=142 align=right>206,423</TD></TR> <TR> <TD height=20 vAlign=top width=149>[자본금]</TD> <TD height=20 vAlign=top width=142 align=right>14,836</TD> <TD height=20 vAlign=top width=142 align=right>6,368</TD> <TD height=20 vAlign=top width=142 align=right>22,433</TD></TR> <TR> <TD height=20 vAlign=top width=149>[자본잉여금]</TD> <TD height=20 vAlign=top width=142 align=right>46,119</TD> <TD height=20 vAlign=top width=142 align=right>729</TD> <TD height=20 vAlign=top width=142 align=right>230,661</TD></TR> <TR> <TD height=20 vAlign=top width=149>[자본조정]</TD> <TD height=20 vAlign=top width=142 align=right>(11,702)</TD> <TD height=20 vAlign=top width=142 align=right>(1,038)</TD> <TD height=20 vAlign=top width=142 align=right>(12,856)</TD></TR> <TR> <TD height=20 vAlign=top width=149>[기타포괄손익누계액]</TD> <TD height=20 vAlign=top width=142 align=right>(8,346)</TD> <TD height=20 vAlign=top width=142 align=right>(825)</TD> <TD height=20 vAlign=top width=142 align=right>2,510</TD></TR> <TR> <TD height=20 vAlign=top width=149>[이익잉여금]</TD> <TD height=20 vAlign=top width=142 align=right>27,657</TD> <TD height=20 vAlign=top width=142 align=right>16,956</TD> <TD height=20 vAlign=top width=142 align=right>270,555</TD></TR> <TR> <TD height=20 vAlign=top width=149>자본총계</TD> <TD height=20 vAlign=top width=142 align=right>68,564</TD> <TD height=20 vAlign=top width=142 align=right>22,190</TD> <TD height=20 vAlign=top width=142 align=right>513,303</TD></TR> <TR> <TD height=20 vAlign=top width=149>매출액</TD> <TD height=20 vAlign=top width=142 align=right>117,373</TD> <TD height=20 vAlign=top width=142 align=right>26,066</TD> <TD height=20 vAlign=top width=142 align=right>155,109</TD></TR> <TR> <TD height=20 vAlign=top width=149>영업이익</TD> <TD height=20 vAlign=top width=142 align=right>30,491</TD> <TD height=20 vAlign=top width=142 align=right>4,104</TD> <TD height=20 vAlign=top width=142 align=right>14,692</TD></TR> <TR> <TD height=20 vAlign=top width=149>당기순이익</TD> <TD height=20 vAlign=top width=142 align=right>25,364</TD> <TD height=20 vAlign=top width=142 align=right>3,770</TD> <TD height=20 vAlign=top width=142 align=right>71,364</TD></TR> <TR> <TD height=20 vAlign=top width=149>ㆍ주당순이익 (원)</TD> <TD height=20 vAlign=top width=142 align=right>906</TD> <TD height=20 vAlign=top width=142 align=right>308</TD> <TD height=20 vAlign=top width=142 align=right>1,672</TD></TR></TBODY></TABLE></P> <P style="FONT-FAMILY: 굴림">(출처: 각 사 감사보고서)<BR><BR>(나) 2011년 반기 요약 재무현황<BR><BR></P> <P style="FONT-FAMILY: 굴림"> <TABLE class=nb width=597> <COLGROUP> <COL width=588></COL></COLGROUP> <TBODY> <TR> <TD height=20 vAlign=top width=588 align=right>(단위 : 백만원)</TD></TR></TBODY></TABLE> <TABLE border=1 width=611> <COLGROUP> <COL width=149></COL> <COL width=149></COL> <COL width=139></COL> <COL width=138></COL></COLGROUP> <THEAD> <TR> <TH height=20 width=149 align=middle>구 분</TH> <TH height=20 width=149 align=middle>(주)더존비즈온</TH> <TH height=20 width=139 align=middle>(주)가비아</TH> <TH height=20 width=138 align=middle>(주)다우기술</TH></TR></THEAD> <TBODY> <TR> <TD height=20 vAlign=top width=149>[유동자산]</TD> <TD height=20 vAlign=top width=149 align=right>66,083</TD> <TD height=20 vAlign=top width=139 align=right>10,236</TD> <TD height=20 vAlign=top width=138 align=right>109,325</TD></TR> <TR> <TD height=20 vAlign=top width=149>[비유동자산]</TD> <TD height=20 vAlign=top width=149 align=right>92,695</TD> <TD height=20 vAlign=top width=139 align=right>26,158</TD> <TD height=20 vAlign=top width=138 align=right>441,923</TD></TR> <TR> <TD height=20 vAlign=top width=149>자산총계</TD> <TD height=20 vAlign=top width=149 align=right>158,778</TD> <TD height=20 vAlign=top width=139 align=right>36,394</TD> <TD height=20 vAlign=top width=138 align=right>551,247</TD></TR> <TR> <TD height=20 vAlign=top width=149>[유동부채]</TD> <TD height=20 vAlign=top width=149 align=right>29,964</TD> <TD height=20 vAlign=top width=139 align=right>9,278</TD> <TD height=20 vAlign=top width=138 align=right>93,012</TD></TR> <TR> <TD height=20 vAlign=top width=149>[비유동부채]</TD> <TD height=20 vAlign=top width=149 align=right>54,200</TD> <TD height=20 vAlign=top width=139 align=right>3,834</TD> <TD height=20 vAlign=top width=138 align=right>45,941</TD></TR> <TR> <TD height=20 vAlign=top width=149>부채총계</TD> <TD height=20 vAlign=top width=149 align=right>84,164</TD> <TD height=20 vAlign=top width=139 align=right>13,112</TD> <TD height=20 vAlign=top width=138 align=right>138,953</TD></TR> <TR> <TD height=20 vAlign=top width=149>[자본금]</TD> <TD height=20 vAlign=top width=149 align=right>14,836</TD> <TD height=20 vAlign=top width=139 align=right>6,368</TD> <TD height=20 vAlign=top width=138 align=right>22,433</TD></TR> <TR> <TD height=20 vAlign=top width=149>자본총계</TD> <TD height=20 vAlign=top width=149 align=right>74,614</TD> <TD height=20 vAlign=top width=139 align=right>23,282</TD> <TD height=20 vAlign=top width=138 align=right>412,295</TD></TR> <TR> <TD height=20 vAlign=top width=149>매출액</TD> <TD height=20 vAlign=top width=149 align=right>58,950</TD> <TD height=20 vAlign=top width=139 align=right>16,254</TD> <TD height=20 vAlign=top width=138 align=right>77,931</TD></TR> <TR> <TD height=20 vAlign=top width=149>영업이익</TD> <TD height=20 vAlign=top width=149 align=right>9,551</TD> <TD height=20 vAlign=top width=139 align=right>2,366</TD> <TD height=20 vAlign=top width=138 align=right>21,783</TD></TR> <TR> <TD height=20 vAlign=top width=149>당기순이익</TD> <TD height=20 vAlign=top width=149 align=right>6,920</TD> <TD height=20 vAlign=top width=139 align=right>1,964</TD> <TD height=20 vAlign=top width=138 align=right>16,619</TD></TR></TBODY></TABLE></P> <P style="FONT-FAMILY: 굴림">(출처: 각 사 감사보고서)<BR><BR></P> <P style="FONT-FAMILY: 굴림">(2) 주요 제품 등의 현황 (2011년 반기말 기준)<BR><SPAN><BR>(가) (주)더존비즈온</SPAN><BR></P> <P style="FONT-FAMILY: 굴림"><BR></P> <P style="FONT-FAMILY: 굴림"> <TABLE class=nb width=623> <COLGROUP> <COL width=614></COL></COLGROUP> <TBODY> <TR> <TD height=20 vAlign=top width=614 align=right>(단위 : 백만원,%)</TD></TR></TBODY></TABLE> <TABLE border=1 width=644> <COLGROUP> <COL width=75></COL> <COL width=66></COL> <COL width=74></COL> <COL width=159></COL> <COL width=127></COL> <COL width=89></COL></COLGROUP> <THEAD> <TR> <TH height=43 width=75 align=middle>사업부문</TH> <TH height=43 width=66 align=middle>매출유형</TH> <TH height=43 width=74 align=middle>품   목</TH> <TH height=43 width=159 align=middle>구체적적용도</TH> <TH height=43 width=127 align=middle>주요상표등</TH> <TH height=43 width=89 align=middle>매출액(비율)</TH></TR></THEAD> <TBODY> <TR> <TD height=294 rowSpan=4 width=75 align=middle>소프트웨어</TD> <TD height=112 width=66 align=middle>제품 및 유지보수</TD> <TD height=112 width=74 align=middle>ERP</TD> <TD height=112 width=159 align=middle>Lite ERP<BR>Standard ERP<BR>Extended ERP<BR>금융ERP<BR>유지보수</TD> <TD height=112 width=127 align=middle>더존-iPlus<BR>더존ERP-icube 등<BR>ERP M/U<BR>금융ERP<BR>블루멤버십</TD> <TD height=112 width=89 align=right>44,891<BR>(76%)</TD></TR> <TR> <TD height=43 width=66 align=middle>제품</TD> <TD height=43 width=74 align=middle>전자금융사업</TD> <TD height=43 width=159 align=middle>U-Billing<BR>전자세금계산서</TD> <TD height=43 width=127 align=middle>U-Billing<BR>Bill36524</TD> <TD height=43 width=89 align=right>3,392<BR>(6%)</TD></TR> <TR> <TD height=66 width=66 align=middle>상품</TD> <TD height=66 width=74 align=middle>계열사총판사업</TD> <TD height=66 width=159 align=middle>건설ERP,보안솔루션,그룹웨어,전자팩스</TD> <TD height=66 width=127 align=middle>건설ERP,APO,<BR>BIZ-BOX,더존그린팩스</TD> <TD height=66 width=89 align=right>5,540<BR>(9%)</TD></TR> <TR> <TD height=43 width=66 align=middle>기타</TD> <TD height=43 width=74 align=middle>기타</TD> <TD height=43 width=159 align=middle>H/W, 별정통신,모바일솔루션 등</TD> <TD height=43 width=127 align=middle>NEO-FAX, 모바일솔루션 등</TD> <TD height=43 width=89 align=right>5,127<BR>(9%)</TD></TR></TBODY></TABLE></P> <P><SPAN style="FONT-FAMILY: 굴림">(출처: 사업보고서)<BR></SPAN><SPAN style="FONT-FAMILY: 굴림"></SPAN><BR></P> <P style="FONT-FAMILY: 굴림">(나) (주)가비아<BR><BR></P> <P style="FONT-FAMILY: 굴림"> <TABLE class=nb width=624> <COLGROUP> <COL width=615></COL></COLGROUP> <TBODY> <TR> <TD height=20 vAlign=top width=615 align=right>(단위 : 백만원,%)</TD></TR></TBODY></TABLE> <TABLE border=1 width=623> <COLGROUP> <COL width=67></COL> <COL width=91></COL> <COL width=204></COL> <COL width=83></COL> <COL width=133></COL></COLGROUP> <THEAD> <TR> <TH height=22 width=67 align=middle>사업부문</TH> <TH height=22 width=91 align=middle>매출유형</TH> <TH height=22 width=204 align=middle>품   목</TH> <TH height=22 width=83 align=middle>주요상표등</TH> <TH height=22 width=133 align=middle>매출액(비율)</TH></TR></THEAD> <TBODY> <TR> <TD height=26 vAlign=top width=67 align=middle>서비스</TD> <TD height=26 vAlign=top width=91 align=middle>서비스 판매</TD> <TD height=26 vAlign=top width=204 align=middle>도메인, 호스팅,웹에이전시 등</TD> <TD height=26 vAlign=top width=83 align=middle>가비아</TD> <TD height=26 vAlign=top width=133 align=right>16,254(100%)</TD></TR></TBODY></TABLE></P> <P><SPAN style="FONT-FAMILY: 굴림">(출처: 사업보고서)<BR></SPAN><SPAN style="FONT-FAMILY: 굴림"><BR></SPAN><SPAN style="FONT-FAMILY: 굴림">(다) (주)다우기술</SPAN><BR></P> <P style="FONT-FAMILY: 굴림"><BR></P> <P style="FONT-FAMILY: 굴림"> <TABLE class=nb width=622> <COLGROUP> <COL width=613></COL></COLGROUP> <TBODY> <TR> <TD height=20 vAlign=top width=613 align=right>(단위 : 백만원,%)</TD></TR></TBODY></TABLE> <TABLE border=1 width=725> <COLGROUP> <COL width=61></COL> <COL width=61></COL> <COL width=161></COL> <COL width=153></COL> <COL width=118></COL> <COL width=117></COL></COLGROUP> <THEAD> <TR> <TH height=20 width=61 align=middle>사업부문</TH> <TH height=20 width=61 align=middle>매출유형</TH> <TH height=20 width=161 align=middle>품   목</TH> <TH height=20 width=153 align=middle>구체적용도</TH> <TH height=20 width=118 align=middle>주요상표등</TH> <TH height=20 width=117 align=middle>매출액(비율)</TH></TR></THEAD> <TBODY> <TR> <TD height=465 rowSpan=12 width=61 align=middle>SI</TD> <TD height=276 rowSpan=8 width=61 align=middle>상품</TD> <TD height=20 width=161 align=middle>Workstation</TD> <TD height=20 width=153 align=middle>Unix 서버</TD> <TD height=20 width=118 align=middle>IBM</TD> <TD height=20 width=117 align=right>4,594 (5.9%)</TD></TR> <TR> <TD height=20 width=161 align=middle>Storage</TD> <TD height=20 width=153 align=middle>저장장치</TD> <TD height=20 width=118 align=middle>STORAGETEK</TD> <TD height=20 width=117 align=right>742  (1.0%)</TD></TR> <TR> <TD height=43 width=161 align=middle>기타 H/W</TD> <TD height=43 width=153 align=middle>기타</TD> <TD height=43 width=118 align=middle><BR><BR></TD> <TD height=43 width=117 align=right>213  (0.3%)</TD></TR> <TR> <TD height=20 width=161 align=middle>Infrastructure Solution</TD> <TD height=20 width=153 align=middle>웹인프라 구축</TD> <TD height=20 width=118 align=middle>Citrix</TD> <TD height=20 width=117 align=right>13,494 (17.3%)</TD></TR> <TR> <TD height=20 width=161 align=middle>Application Management</TD> <TD height=20 width=153 align=middle>어플리케이션 관리</TD> <TD height=20 width=118 align=middle>Tivoli</TD> <TD height=20 width=117 align=right>6,773 (8.7%)</TD></TR> <TR> <TD height=20 width=161 align=middle>DBMS</TD> <TD height=20 width=153 align=middle>데이타베이스 관리</TD> <TD height=20 width=118 align=middle>Informix</TD> <TD height=20 width=117 align=right>6,205 (8.0%)</TD></TR> <TR> <TD height=20 width=161 align=middle>KM</TD> <TD height=20 width=153 align=middle>지식협업 관리</TD> <TD height=20 width=118 align=middle>Domino</TD> <TD height=20 width=117 align=right>1,529 (2.0%)</TD></TR> <TR> <TD height=43 width=161 align=middle>기타 S/W</TD> <TD height=43 width=153 align=middle>기타</TD> <TD height=43 width=118 align=middle><BR><BR></TD> <TD height=43 width=117 align=right>      552 (0.7%)</TD></TR> <TR> <TD height=20 width=61 align=middle>제품</TD> <TD height=20 width=161 align=middle>자체개발 S/W</TD> <TD height=20 width=153 align=middle>데이터 관리 솔루션 등</TD> <TD height=20 width=118 align=middle>Terrace Mail Suite</TD> <TD height=20 width=117 align=right>825 (1.1%)</TD></TR> <TR> <TD height=149 rowSpan=3 width=61 align=middle>용역</TD> <TD height=43 width=161 align=middle>SI</TD> <TD height=43 width=153 align=middle>시스템통합</TD> <TD height=43 width=118 align=middle><BR><BR></TD> <TD height=43 width=117 align=right>4,130 (5.3%)</TD></TR> <TR> <TD height=43 width=161 align=middle>프로젝트</TD> <TD height=43 width=153 align=middle>기성매출</TD> <TD height=43 width=118 align=middle><BR><BR></TD> <TD height=43 width=117 align=right> 7,211 (9.2%)</TD></TR> <TR> <TD height=43 width=161 align=middle>유지보수</TD> <TD height=43 width=153 align=middle>유지보수</TD> <TD height=43 width=118 align=middle><BR><BR></TD> <TD height=43 width=117 align=right>8,332 (10.7%)</TD></TR> <TR> <TD height=43 width=61 align=middle>서비스<BR>매출액</TD> <TD height=43 width=61 align=middle>용역</TD> <TD height=43 width=161 align=middle>서비스매출액</TD> <TD height=43 width=153 align=middle>서비스매출액</TD> <TD height=43 width=118 align=middle>뿌리오, 엔팩스</TD> <TD height=43 width=117 align=right>  23,331 (29.8%)</TD></TR> <TR> <TD height=20 width=590 colSpan=5 align=middle>합계</TD> <TD height=20 width=117 align=right>77,931 (100.0%)</TD></TR></TBODY></TABLE></P> <P style="FONT-FAMILY: 굴림">(출처: 사업보고서)<BR><BR></P> <P style="FONT-FAMILY: 굴림">(3) 유사회사의 주요 재무비율 분석 (2010년 기준)<BR><BR></P> <P style="FONT-FAMILY: 굴림"> <TABLE class=nb width=622> <COLGROUP> <COL width=613></COL></COLGROUP> <TBODY> <TR> <TD height=20 vAlign=top width=613 align=right>(단위 : %)</TD></TR></TBODY></TABLE> <TABLE border=1 width=645> <COLGROUP> <COL width=79></COL> <COL width=145></COL> <COL width=126></COL> <COL width=125></COL> <COL width=125></COL></COLGROUP> <THEAD> <TR> <TH height=20 width=79 align=middle>구 분</TH> <TH height=20 width=145 align=middle>세부항목</TH> <TH height=20 width=126 align=middle>(주)더존비즈온</TH> <TH height=20 width=125 align=middle>(주)가비아</TH> <TH height=20 width=125 align=middle>(주)다우기술</TH></TR></THEAD> <TBODY> <TR> <TD height=110 vAlign=top rowSpan=4 width=79>수익성비율</TD> <TD height=20 vAlign=top width=145>총자산순이익율</TD> <TD height=20 vAlign=top width=126 align=right>26.34</TD> <TD height=20 vAlign=top width=125 align=right>11.36</TD> <TD height=20 vAlign=top width=125 align=right>11.08</TD></TR> <TR> <TD height=20 vAlign=top width=145>자기자본순이익율</TD> <TD height=20 vAlign=top width=126 align=right>45.55</TD> <TD height=20 vAlign=top width=125 align=right>18.14</TD> <TD height=20 vAlign=top width=125 align=right>15.05</TD></TR> <TR> <TD height=20 vAlign=top width=145>매출액순이익율</TD> <TD height=20 vAlign=top width=126 align=right>21.61</TD> <TD height=20 vAlign=top width=125 align=right>14.46</TD> <TD height=20 vAlign=top width=125 align=right>46.01</TD></TR> <TR> <TD height=20 vAlign=top width=145>매출액영업이익율</TD> <TD height=20 vAlign=top width=126 align=right>25.98</TD> <TD height=20 vAlign=top width=125 align=right>15.74</TD> <TD height=20 vAlign=top width=125 align=right>9.47</TD></TR> <TR> <TD height=80 vAlign=top rowSpan=3 width=79>안정성비율</TD> <TD height=20 vAlign=top width=145>부채비율</TD> <TD height=20 vAlign=top width=126 align=right>64.20</TD> <TD height=20 vAlign=top width=125 align=right>59.07</TD> <TD height=20 vAlign=top width=125 align=right>40.21</TD></TR> <TR> <TD height=20 vAlign=top width=145>차입금의존도</TD> <TD height=20 vAlign=top width=126 align=right>13.32</TD> <TD height=20 vAlign=top width=125 align=right>18.22</TD> <TD height=20 vAlign=top width=125 align=right>18.06</TD></TR> <TR> <TD height=20 vAlign=top width=145>유동비율</TD> <TD height=20 vAlign=top width=126 align=right>179.67</TD> <TD height=20 vAlign=top width=125 align=right>157.74</TD> <TD height=20 vAlign=top width=125 align=right>123.91</TD></TR> <TR> <TD height=20 vAlign=top width=79>활동성비율</TD> <TD height=20 vAlign=top width=145>매출채권회전율(회)</TD> <TD height=20 vAlign=top width=126 align=right>4.04</TD> <TD height=20 vAlign=top width=125 align=right>14.12</TD> <TD height=20 vAlign=top width=125 align=right>4.35</TD></TR> <TR> <TD height=80 vAlign=top rowSpan=3 width=79>성장성비율</TD> <TD height=20 vAlign=top width=145>매출액증가율</TD> <TD height=20 vAlign=top width=126 align=right>606.92</TD> <TD height=20 vAlign=top width=125 align=right>18.30</TD> <TD height=20 vAlign=top width=125 align=right>29.11</TD></TR> <TR> <TD height=20 vAlign=top width=145>영업이익증가율</TD> <TD height=20 vAlign=top width=126 align=right>431.95</TD> <TD height=20 vAlign=top width=125 align=right>12.34</TD> <TD height=20 vAlign=top width=125 align=right>16.26</TD></TR> <TR> <TD height=20 vAlign=top width=145>총자산증가율</TD> <TD height=20 vAlign=top width=126 align=right>40.66</TD> <TD height=20 vAlign=top width=125 align=right>13.65</TD> <TD height=20 vAlign=top width=125 align=right>26.62</TD></TR></TBODY></TABLE></P> <P><SPAN style="FONT-FAMILY: 굴림">주1) 각 재무비율 산출을 위해 2010년 각사 감사보고서 (dart.fss.or.kr) 참조<BR></SPAN></P>