D&B Business Information Report: NORVERGENCE INC

	Business Information Report

ATTN: credit

Report Printed: MAR 08 2004

In Date

Business Summary

D&B's Credit Limit Recommendation D&B's industry and risk-based limit guidance

Payment Trends Profile Payment trends and industry benchmarks

NORVERGENCE INC
550 Broad St
Newark, NJ 07102

This is a headquarters location.
Branch(es) or division(s) exist.

Web site:	www.norvergence.com


Telephone:	973 242-7500



Chief executive:	PETER SALZANO, PRES-CEO



Year started:	1999


Management control:	2001


Employs:	1,798 (1,320 here)

Financial statement date:	DEC 31 2003


Sales E:	$300,000,000(Proj)


Net worth:	$16,988,660


History:	CLEAR


Financial condition:	GOOD

SIC:	3661


Line of business:	Telephone and telegraph apparatus

D-U-N-S Number:	06-653-7288


D&B Rating:	4A2

Financial strength:	4A is $10 to 50 million.

Composite credit appraisal:	2 is good.

D&B PAYDEX®:

12-Month D&B PAYDEX: 76
When weighted by dollar amount, payments to suppliers average 6 days beyond terms.

Based on trade collected over last 12 months.

Enhanced payment trends and industry benchmarks are available on this business

Special Events

02/26/2004

On November 7, 2003, Robert Wizeman, vice president, confirmed the operations and locations for Norvergence Inc. Mr. Wizeman was also requested to remove the D&B Logo from Norvergence Inc's web site as the company is not part of D&B's logo program and use of the D&B logo is unauthorized. In addition, Mr. Wizeman was also requested to remove the hyperlink to the company's D&B report as it is a violation of D&B's copywrite. Subsequently, on Jan 27 2004, the company did become a member of the D&B Web Logo Service.

On November 3, 2003, D&B records show that there have been a high number of inquiries on Norvergence Inc, which advises D&B that the company's report has experienced a high-end amount of customer activity. As a matter of interest, the number of inquiries for the first 11 months of 2003 is five times those of 2002.

As of Feb 24 2004 the hyperlink was still active and the number of inquiries on the company continues to go up.

Summary Analysis

D&B Rating:		4A2

	Financial strength:	4A indicates $10 to 50 million.

	Composite credit appraisal:	2 is good.

The Rating was changed on February 19, 2004 to reflect a change in the company's worth. This credit rating was assigned because of D&B's assessment of the company's financial ratios and its cash flow. For more information, see the D&B Rating Key.

Below is an overview of the company's rating history since 10/31/01:

D&B Rating	Date Applied
4A2	02/19/04
3A2	09/04/03
1R4	05/23/03
1R3	11/11/02
--	11/02/01
ERN	10/31/01

The Summary Analysis section reflects information in D&B's file as of March 8, 2004.

Customer Service

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History


The following information was reported 03/02/2004:

Officer(s):	PETER SALZANO, PRES-CEO
	ALEXANDER L. WOLF, COO
	STEVE LEIBROCK, CTO
	TERRY SKEMER, VP ENGINEERING
	ART SCUTTARO, SR VP-APPLICATION SCREENING
	JOE O'DONNELL, VP

	THE OFFICER(S)

On May 28, 2003, New Jersey Secretary of State verified an active corporate charter for Norvergence Inc, filed on 9/10/01, filing #0100859960.
Business started 1999.
On November 7, 2003, Robert Wizeman, vice president, confirmed the operations and locations for Norvergence Inc. Mr Wizeman was also requested to remove the D&B Logo from Norvergence Inc's web site as the company is not part of D&B's logo program and use of the D&B logo is unauthorized. In addition, Mr Wizeman was also requested to remove the hyperlink to the company's D&B report as it is a violation of D&B's copywrite. Subsequently, on Jan 27 2004, the company did become a member of the D&B Web Logo Service.
On November 3, 2003, D&B records show that there have been a high number of inquiries on Norvergence Inc, which advises D&B that the company's report has experienced a high-end amount of customer activity. As a matter of interest, the number of inquiries for the first 11 months of 2003 is five times those of 2002.
As of Feb 24 2004 the hyperlink was still active and the number of inquiries on the company continues to go up.
PETER SALZANO born 1960. 1996-2000 president, Network Consulting Group. 2000-present active here.
ALEXANDER L. WOLF born 1966. 2000-present active here. 1998-2000, manager, Nortel Networks. 1995-1998, account executive, Datatech.
STEVE LEIBROCK born 1956. 2000-present active here. 1990-2000, vice president, Goldman Sachs.
TERRY SKEMER born 1956. 2000-present active here. 1998-2000, president, Sedona Networks. 1991-1998, Subject Matter Expert, Nortel Networks.
ART SCUTTARO. Previously active here as vice president of the Notifications Department.
JOE O'DONNELL. Previously active here as senior director in the Notifications Department.

Corporate Family

Operations


03/02/2004

Description:	Network solutions provider.

	ADDITIONAL TELEPHONE NUMBER(S): Facsimile (Fax) 973 242-8807.

	Territory : United States.

Employees:	1,798 which includes officer(s). 1,320 employed here.

Facilities:	Rents 200,000 sq. ft. in concrete block building. Located on eight floors.

Branches:	1. Glendale, CA: 310.586.5545.

	2. Los Angeles, CA: 310.586.5545.

	3. Santa Ana, CA: 310.586.5545.

	4. Riverside, CA: 909.328.0871.

	5. Sacramento, CA: 916.349.0900.

	6. San Jose, CA: 408.445.8600.

	7. San Diego, CA: 866.741.6678.

	8. San Bruno, CA: 415.701.8700.

	9. Concord, CA: 510.986.0652.

	10. Greenwood Village (Denver) CO: 866.744.6678.

	11. Meriden, CT: 860.547.0073.

	12. Aventura (Miami) FL: 305.374.2499.

	13. Tampa, FL: 904.928.9161.

	14. Orlando, FL: 904.928.9161.

	15. Atlanta, GA: 770.452.0074.

	16. Oakbrook Terrace (Chicago) IL: 312.938.9695.

	17. Overland Park (Kansas City) KS: 816.241.6610.

	18. Greenbelt (Washington DC) MD: 202.347.8377.

	19. Newton (Boston) MA: 617.720.5070.

	20. Southfield (Detroit) MI: 313.831.4944.

	21. St Louis, MO: 314.361.8213.

	22. Newark (Main) NJ: 650 Broad St 12th Floor, 973.242.7500.

	23. Newark, NJ: 570 Broad St, 12th Floor, 973.242.7500.

	24. Uniondale, (LI) NY: 631.475.2392.

	25. High Point, NC: 336.294.2985.

	26. Plymouth Meeting (Philadelphia) PA: 215.922.2291.

	27. Pittsburgh, PA: 412.433.9877.

	28. Houston, TX: 713.942.9700.

	29. Irving (Dallas) TX: 214.366.4286.

SIC & NAICS

SIC:
Based on information in our file, D&B has assigned this company an extended 8-digit SIC. D&B's use of 8-digit SICs enables us to be more specific to a company's operations than if we use the standard 4-digit code. The 4-digit SIC numbers link to the description on the Occupational Safety & Health Administration (OSHA) Web site. Links open in a new browser window.
36610000	Telephone and telegraph apparatus

NAICS:
334210	Telephone Apparatus Manufacturing

D&B PAYDEX

Enhanced payment trends and industry benchmarks are available on this business

The D&B PAYDEX is a unique, dollar weighted indicator of payment performance based on up to 65 payment experiences as reported to D&B by trade references.

3-Month D&B PAYDEX: 76
When weighted by dollar amount, payments to suppliers average 6 days beyond terms.

Based on trade collected over last 3 months.

12-Month D&B PAYDEX: 76
When weighted by dollar amount, payments to suppliers average 6 days beyond terms.

Based on trade collected over last 12 months.

When dollar amounts are not considered, then approximately 82% of the company's payments are within terms.

Payment Summary

The Payment Summary section reflects payment information in D&B's file as of the date of this report.

Below is an overview of the company's dollar-weighted payments, segmented by its suppliers' primary industries:

	Total Rcv'd (#)	Total Dollar Amts ($)	Largest High Credit ($)	Within Terms (%)	Days Slow <31 31-60 61-90 90> (%)

The highest Now Owes on file is $6,000,000

The highest Past Due on file is $200,000

The aggregate dollar amount of the 65 payment experiences in D&B's file equals 33.7% of this company's average monthly sales. In Dun & Bradstreet's opinion, payment experiences exceeding 10% of a company's average monthly sales can be considered representative of payment performance.

Payment Details

Detailed payment history

Date Reported (mm/yy)	Paying Record	High Credit ($)	Now Owes ($)	Past Due ($)	Selling Terms	Last Sale Within (months)

Accounts are sometimes placed for collection even though the existence or amount of the debt is disputed.

Payment experiences reflect how bills are met in relation to the terms granted. In some instances payment beyond terms can be the result of disputes over merchandise, skipped invoices etc.

Each experience shown is from a separate supplier. Updated trade experiences replace those previously reported.

Finance

02/23/2004

Three-year statement comparative:

	Interim Jun 30 2003	Interim Sep 30 2003	Fiscal Dec 31 2003

Current Assets	10,894,211	16,608,991	29,204,182
Current Liabs	8,015,609	11,446,598	26,110,418
Current Ratio	1.36	1.45	1.12
Working Capital	2,878,602	5,162,393	3,093,764
Other Assets	3,770,681	4,235,194	14,251,326
Net Worth	5,803,632	8,992,167	16,988,660
Sales	41,045,625	80,513,305	142,986,199
Long Term Liab	845,650	405,420	356,430
Net Profit (Loss)	2,999,894	6,188,429	14,184,921

Fiscal statement dated DEC 31 2003:


Assets			Liabilities
	Cash	3,913,291		Accts Pay	12,971,868
	Accts Rec	22,518,175		Accruals	4,728,567
	Inventory	351,550		Taxes	8,100,802
	Notes Rec	2,421,166		L.T. Liab-(1yr)	309,181
	Curr Assets	$ 29,204,182		Curr Liabs	$ 26,110,418
	Fixed Assets	3,922,000		L.T. Liab-Other	356,430
	Deposits	644,662		COMMON STOCK	2
	Notes Rec Long Term	9,684,664		ADDIT. PD.-IN CAP	1,274,977
				RETAINED EARNINGS	15,713,681
	Total Assets	$ 43,455,508		Total	$ 43,455,508

From JAN 01 2003 to DEC 31 2003 annual sales $142,986,199; cost of goods sold $35,432,945. Gross profit $107,553,254; operating expenses $83,778,407. Operating income $23,774,847; other income $6,500; net income before taxes $23,781,347; Federal income tax $9,596,426. Net income $14,184,921.

Submitted FEB 18 2004 by Bob Wizeman, vice pres-finance. Prepared from statement(s) by Accountant: Charles Seymour CPA.

ACCOUNTANT'S OPINION

A review of the accountant's opinion indicates the financial statements meet generally accepted accounting principles and that the audit contains no qualifications.

On FEB 18 2004 Bob Wizeman, vice pres-finance, submitted the above figures.

He submitted the following partial estimates dated FEB 23 2004:

Projected annual sales are $ 300,000,000.

Key Business Ratios

Statement date:	DEC 31 2003
Based on this number of establishments:	12

Firm		Industry Median
Return of Sales:	9.9	Return of Sales:	( 25.6)
Current Ratio:	1.1	Current Ratio:	2.0
Assets / Sales:	30.4	Assets / Sales:	113.9
Total Liability / Net Worth:	155.8	Total Liability / Net Worth:	55.5

Public Filings

The following Public Filing data is for information purposes only and is not the official record. Certified copies can only be obtained from the official source.

Suits


If it is indicated that there are defendants other than the report subject, the lawsuit may be an action to clear title to property and does not necessarily imply a claim for money against the subject.

UCC Filings


There are additional UCC's in D&B's file on this company available by contacting 1-800-234-3867.

The public record items contained in this report may have been paid, terminated, vacated or released prior to the date this report was printed.

Government Activity


Activity summary
	Borrower (Dir/Guar):	NO
	Administrative debt:	NO
	Contractor:	NO
	Grantee:	NO
	Party excluded from federal program(s):	NO

Possible candidate for socio-economic program consideration
	Labor surplus area:	YES (2003)
	Small Business:	N/A
	8(A) firm:	N/A

The details provided in the Government Activity section are as reported to Dun & Bradstreet by the federal government and other sources.

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Branches (US):
	Norvergence	Greenbelt, MD	DUNS # 12-525-5005
	Norvergence Inc	Villa Park, IL	DUNS # 12-525-5021
	Norvergence, Inc	Bala Cynwyd, PA	DUNS # 11-774-5948