RadiSys Corporation (Nasdaq: RSYS), a telecom solutions provider based in Oregon, is currently battling financial distress. Over the last 12 months, its FRISK® score has incrementally declined further into the "red zone" to a bottom-rung "1." This high risk signal indicates an elevated probability of bankruptcy over the coming 12-month period.
In this High Risk Report, we demonstrate key factors that are contributing to RadiSys Corporation's weakening financial condition. For instance, the business has reported persistent operating losses over the last five sequential quarters. This poor performance has eroded its liquidity cushion, where its first quarter quick ratio has fallen from a factor of 1.2 to 0.8 times on a year-over-year basis. This metric also ranks in the bottom quartile of industry peers.
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Our FRISK® score model incorporates four powerful risk inputs:
- “Merton”-type model of stock market capitalization and volatility
- Financial ratios, including those used in the Altman Z”-Score Model
- Agency ratings
- Website click pattern data from CreditRiskMonitor® subscribers, representing key credit decision-makers at nearly 40% of current Fortune 1000 companies plus thousands of other large companies worldwide
Since the start of 2017, the FRISK® score’s rate of success in capturing public company bankruptcy is 96%. In any given year, you can count on one hand the times we miss – and in those outlier cases, the circumstances deal with unusual, unforeseen events such as natural disasters and CEO fraud.
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About High Risk Reports
Our High Risk Reports feature companies that are exhibiting a significantly high level of financial distress, as indicated by our proprietary FRISK® score.
The reports highlight the factors that have pushed a company's score lower on the "1" (worst) to "10" (best) FRISK® score, which is 96% accurate in predicting bankruptcy over a 12-month period. The High Risk Reports also includes analysis on financial indicators such as the company’s DBT index, stock performance, financial ratios and how it is performing relative to its industry peers.
The ultimate goal of the High Risk Report series is two-part: provide an early warning for those doing business with an increasingly distressed company and inform of the many signals that should be examined when assessing financial risks.