Uster Technologies Ltd | Annual Report 2009 Uster Technologies ...

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The ageing of these receivables is as follows:in CHF 1,000 Dec 31, 2009 Dec 31, 2008Not overdue 12,197 9,018Overdue 1 to 60 days 2,572 2,779Overdue 61 to 90 days 313 379Overdue 91 to 120 days 18 58Overdue 121 to 150 days 8 1Overdue more than 150 days 0 0Total 15,108 12,235Provisions for uncollectible amounts are established based upon the difference between the receivable valueand the estimated net collectible amount. Uster establishes its provision for doubtful accounts receivabletrade based on historical loss experiences.The effective losses of accounts receivables recognized in 2009 amount to CHF 59,000 (2008: CHF 90,000).The following table summarizes the movements in the allowance for uncollectible amounts:in CHF 1,000 Dec 31, 2009 Dec 31, 2008Balance at January 1 -817 -918Amounts used 59 90Reversals 431 136Increases -553 -161Translation adjustments 2 36Balance at December 31 -878 -817The creation and release of the valuation allowance is included in sales deductions in the Statement ofComprehensive Income.19 Other Receivablesin CHF 1,000 Dec 31, 2009 Dec 31, 2008VAT receivables 719 767Other financial receivables 408 332Prepaid expenses 713 635Total 1,840 1,734They do hardly bear any risk and therefore no provision for impairment has been recognized on these balances.90 Uster Group – Notes to the Consolidated Financial Statements 2009
20 Cash and Cash Equivalentsin CHF 1,000 Dec 31, 2009 Dec 31, 2008Cash on hand 26 16Time deposits 799 3,617Bank accounts 14,228 3,857Total 15,053 7,490Cash on bank accounts earns interest at floating rates based on bank deposit rates. Time deposits are made forvarying periods of between one day and three months depending on the immediate cash requirements of theUster Group and earn interest at the respective short-term deposit rates.21 Share Capital and Reserves21.1 Share CapitalOrdinary Share CapitalOn November 2, 2009, the Uster Group issued 1.9 million newly registered shares with a nominal value ofCHF 9.40 out of the authorized capital. The ordinary share capital of Uster Technologies Ltd as of December31, 2009, amounted to CHF 79.5 million and was fully paid up. It consisted of 8,460,000 registered shareswith a nominal value of CHF 9.40 each (December 31, 2008: share capital of CHF 61.7 million and 6,560,000shares with a nominal value of CHF 9.40 each).Conditional Share Capital IncreaseAs of December 31, 2009, Uster Technologies Ltd had a conditional share capital increase available, pursuantto which the share capital may be increased by a maximum aggregate amount of CHF 3.008 million throughthe issuance of a maximum of 320,000 fully paid registered shares with a nominal value of CHF 9.40 each bythe exercise of option rights which the employees, the Management or Directors of Uster Technologies Ltdor another Group company may be granted.Development of Ordinary Sharesin 1,000 of shares 2009 2008Balance at January 1 6,560 6,560Capital increase 1,900 0Balance at December 31 8,460 6,56021.2 ReservesOther ReservesOther reserves include the statutory reserves that have to be allocated from retained earnings based on theregulations in the jurisdictions of the subsidiaries.Currency Translation DifferencesThis reserve contains all currency differences arising from the translation of the financial statements offoreign subsidiaries as well as from the translation of the intragroup loans that are considered as a part ofthe net investment in foreign subsidiaries.Uster Group – Notes to the Consolidated Financial Statements 2009 91
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Uster Technologies Ltd | Annual Rep
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Achievements 2009• EBITA margin m
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PortraitThe Uster Group is the lead
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Table of ContentsInhaltsverzeichnis
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Max-Ulrich Zellweger, Geoffrey Scot
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Quality means the customercomes bac
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Operational ReviewOperativer Rückb
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Inconsistent quality meansloss of p
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position as the world leader and au
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Poor quality can destroybrand reput
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Sales and MarketingVertrieb und Mar
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The hidden cost of poor qualityThin
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Research and InnovationForschung un
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OperationsProduktion und LogistikIn
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OutlookAusblickSeveral trends and l
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Corporate GovernanceThe information
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• On February 10, 2009, Lombard O
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2.4 Shares and Participation Certif
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Board of DirectorsMembers of the Bo
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Harald Rönn, Member of the Board o
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The Board of Directors may entrust
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Nomination and Compensation Committ
Page 46 and 47: Executive CommitteeMembers of the E
Page 48 and 49: 4 Executive Committee4.1 Members of
Page 50 and 51: Harold R. Hoke Jr., Head of Sales a
Page 52 and 53: 6.2 Statutory QuorumsUnless mandato
Page 54 and 55: 9 Information PolicyUster Technolog
Page 56 and 57: Comment on the Consolidated Financi
Page 58 and 59: Uster Group - Consolidated Financia
Page 60 and 61: Consolidated Statement of Cash Flow
Page 62 and 63: Consolidated Statement of Changes i
Page 64 and 65: 2.5 Impairment of Goodwill and Inta
Page 66 and 67: Standards, Amendments and Interpret
Page 68 and 69: 3.4 Intangible AssetsBusiness Combi
Page 70 and 71: 3.6 Financial InstrumentsFinancial
Page 72 and 73: 3.7 InventoriesInventories are meas
Page 74 and 75: 3.13 Revenue RecognitionRevenue fro
Page 76 and 77: The carrying amount of financial as
Page 78 and 79: The table below sets out the carryi
Page 80 and 81: The fair value of the bank loans ha
Page 82 and 83: 8.4 Personnel Expensein CHF 1,000 J
Page 84 and 85: 12 Intangible Assetsin CHF 1,000 Cu
Page 86 and 87: 13 Impairment Testing of Goodwill a
Page 88 and 89: 14 Property, Plant and Equipmentin
Page 90 and 91: The changes in the present value of
Page 92 and 93: 16 Income TaxStatement of Comprehen
Page 94 and 95: Movements in Temporary DifferencesT
Page 98 and 99: 21.3 DividendsThe holders of regist
Page 100 and 101: Restructuring ProvisionsThe Company
Page 102 and 103: 26 Operating Lease CommitmentsNon-c
Page 104 and 105: Report of the Statutory Auditor on
Page 106 and 107: Uster Technologies Ltd - Financial
Page 108 and 109: Uster Technologies Ltd - Notes to t
Page 110 and 111: 10 Investments in SubsidiariesAs of
Page 112 and 113: Executive Committeein CHF 2008Name
Page 114 and 115: Report of the Statutory Auditor on
Page 116 and 117: Information for InvestorsShare Info
Page 118 and 119: Key Figuresin CHF 1,000 Jan 1 -Dec
Page 120 and 121: in CHF 1,000 2009 2008 2007 2006 1)
Page 122: ImprintContent Concept and EditingI
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