Cost of Sales. Our cost of sales (including depreciation and amortization and severance expenses) increased by US$21 million, or 7%, to US$318 million during the three-month period ended June 30, 2019 from US$297 million during the same period in 2018, primarily due to: a US$22 million, or 9%, increase in our cost of sales (excluding depreciation and amortization but including severance expenses) to US$270 million during the three-month period ended June 30, 2019 from US$248 million during the same period in 2018, primarily due to (i) a US$10 million, or 14%, increase in cost of sales of our Central America and Other segment mainly due to higher Nejapa energy purchases and energy generation; (ii) a US$6 million, or 120%, increase in cost of sales of our South America segment, primarily driven by higher energy generation in Colmito; (iii) a US$3 million, or 3%, increase in cost of sales of our Distribution segment mainly due to higher energy purchases; and (iv) a US$3 million, or 5% increase in cost of sales of our Peruvian segment mainly due to higher Kallpa’s energy purchases, partially offset by Samay’s lower generation. Peru Segment Cost of sales (excluding depreciation and amortization but including severance expenses) from our Peru segment increased by US$3 million, or 5%, to US$61 million during the three-month period ended June 30, 2019 from US$58 million during the same period in 2018, primarily as a result of a US$4 million, or 7%, increase in Kallpa’s cost of sales, mainly due to a 0.6 TWh, or 201%, increase in the volume of energy purchased by Kallpa to supply its new PPAs; partially offset by a US$1 million, or 33%, decrease in Samay’s cost of sales as a result of 100% decrease in Samay’s generation, from 17 GWh during the three- months ended June 30, 2018 to nil during the same period in 2019. Xxxxx was required to generate during the year 2018 due to effective power and performance tests required by COES. South America Segment Cost of sales (excluding depreciation and amortization but including severance expenses) of our South America segment increased by US$6 million, or 120%, to US$11 million during the three- month period ended June 30, 2019 from US$5 million during the same period in 2018, as a result of a US$5 million increase in Colmito’s fuel expenses as a result of a 30 GWh increase in Colmito’s generation. Colmito has been required to generate for system safety due to some transmission restrictions and due to the unavailability of other plants ...
Cost of Sales. Administrative -------- --------- -------- ------- --------- --------- Total Cost of Sales: Admin. .00 .00 .00 .00 .0 .00 .00 .0 -------- --------- -------- ------- --------- --------- Gross Profit: Administrative 40913.80 877422.87 81600.00 (784.20) 2.5- 408200.00 (25777.68) 6.4- ======== ========= ======== ======= ========= ========= Reporting-prd Year-to-date Budget-reporting-period Budget-year-to-date amount amount Amount Var-amt Var-% Amount Var-amt Var-% Expenses: Administrative Salaries-administrative 50800.00 603000.00 54000.00 .00 .0 604000.00 (1000.00) .2- Advertising-cellular .00 4936.99 .00 .00 .0 100.00 4836.99 999.9 Advertising-cellular access .00 37.71 .00 .00 .0 .00 37.71 .0 Alarm expense .00 124.10 .00 .00 .0 135.00 (10.90) 8.1- Auto expense .00 48.62 .00 .00 .0 35.00 13.62 38.9 Donations expense .00 100.00 .00 .00 .0 .00 100.00 .0 Travel expense 348.45 488.59 150.00 198.45 132.3 150.00 338.59 225.7 Postage/Freight expense .00 1186.89 .00 .00 .0 540.00 646.89 119.8 Insurance expense 70.13 771.48 70.00 .13 .2 770.00 1.43 .2 Personnel .00 105.99 60.00 (60.00) 100.0- 440.00 (254.01) 57.7- Office supplies expense 470.00 5061.05 750.00 (279.40) 37.3- 7089.00 (2027.95) 28.6- Payroll taxes-Social security 9065.67 18064.17 2000.00 65.67 3.3 12511.80 553.17 4.4 Payroll taxes-Unemployment 266.70 292.62 250.00 16.70 6.7 277.00 15.62 5.6 Health Insurance expense 77.68 834.26 78.00 (.34) .4- 858.00 (3.74) .4- Collection expense .00 10.00 .00 .00 .0 .00 10.00 .0 Printing expense 213.30 1871.28 150.00 65.50 48.7 1753.00 113.28 6.4 Professional fees expense 16.11 635.54 .00 10.11 .0 265.00 370.54 139.8 Rent expense 3062.76 8158.15 960.00 102.70 10.7 9420.00 (1261.85) 13.4- Repairs/maintenance expense 156.92 1934.33 200.00 (69.08) 34.5- 2000.00 (65.17) 3.3- Telephone expense 331.34 11906.16 1021.00 (189.16) 18.5- 13305.00 (1398.84) 10.5- Utilities expense 266.60 2767.75 825.00 (58.40) 13.0- 2750.00 17.75 .6 Computer expense 342.95 3998.89 400.00 (57.05) 14.3- 11100.00 (2201.11) 18.9- Janitorial expense 172.48 1820.88 200.00 (27.52) 18.8- 2150.00 (329.12) 15.3- Refreshment expense 147.39 839.34 75.00 74.39 99.2 775.00 64.34 8.3 --------- ---------- --------- ------- ---------- --------- Total Expenses: Administrative 60481.76 669095.24 60689.00 (207.30) .3- 670428.00 (1332.76) .2- --------- ---------- --------- ------- ---------- --------- Net Profit (Loss): Admin. (28665.90) (251672.87) (29089.00) (576.90) 2.0- (267228.00) (24444.87) 9.1- ========= =======...
Cost of Sales. The cost of sales decreased 54% to $2.8 million in the year ended December 31, 1999 from $6.2 million in the year ended December 31, 1998. This decrease was attributable primarily to $2.9 million from licensing fees received in 1999 that had no associated cost of sales and to relatively lower product sales compared with 1998. We agreed to produce vascular access products for six months following the sale of our vascular access product line and related assets in January 1999 on a "cost plus" reimbursement basis for the acquiring company and extended that commitment until December 1999. Thus, the margin that we earned on sales of such products was substantially lower in 1999 compared with 1998. Research and Development. Research and development expenses increased 8% to $8.6 million in the year ended December 31, 1999 from $8.0 million in the year ended December 31, 1998. The primary reason for this increase was additional spending on development of and clinical trials for the RDX system. Marketing and Sales. Marketing and sales expenses decreased 63% to $2.0 million in the year ended December 31, 1999 from $5.4 million in the year ended December 31, 1998. This decrease primarily was the result of reductions in our domestic and international sales force and related expenses. General and Administrative. General and administrative expenses decreased 16% to $2.5 million in the year ended December 31, 1999 from $2.9 million in the year ended December 31, 1998. The decrease was due primarily to lower bad debt expense in 1999 compared with 1998. Charge for Acquired In-Process Research and Development. We recognized a charge of $4.2 million in the year ended December 31, 1999 and a charge of $234,000 in the year ended December 31, 1998. We incurred the 1999 charge for the acquisition in January 1999 of the shares of the former Radiance Medical Systems that we did not already own. We incurred the 1998 charge upon exercise in September 1998 of a warrant to purchase additional equity securities in the former Radiance, which exercise resulted in our ownership of approximately 50% of the former Radiance, and thus an acquisition of a controlling interest. Other Income (Expense). Other income increased 73% to $2.6 million for the year ended December 31, 1999 from $1.5 million in the year ended December 31, 1998. Interest income decreased 20% to $1.2 million in the year ended December 31, 1999 from $1.6 million in the year ended December 31, 1998. The decrease was due prima...
Cost of Sales. Cost of sales includes cost of merchandise and services sold, as well as receiving and distribution costs. Cost of sales as a percentage of revenues was 49.6 percent for the year ended July 31, 2010, compared to 53.3 percent for the same period in the prior year. The decrease is due to a 380 basis point improvement associated with a decline in merchandise discounts compared to the same period in the prior year and a 150 basis point improvement in lifetime warranty margins. The decrease was partially offset by a 100 basis point increase in cost of merchandise. Our last-in, first-out (‘‘LIFO’’) inventory charges were $5.7 million and $1.0 million for the fiscal years ended July 31, 2010 and 2009, respectively.
Cost of Sales. In thousands of U.S. dollars 2017 2016 Energy and capacity purchases (a) 559,464 491,495 Fuel, gas and lubricants (b) 360,117 295,075 Depreciation and amortization, Note 15 and 16 135,733 132,998 Transmission costs 142,322 119,345 Personnel expenses 51,189 49,705 Maintenance expenses 38,100 39,750 Third party services 36,633 34,781 Impairment, Note 5 20,435 - Regulatory expenses 12,287 9,369 Insurance 13,609 9,263 Plant unavailability 6,555 6,946 Intermediation fees (c) 84 4,670 Other operating expenses 14,854 12,124 1,391,385 1,205,521 (a) In 2017, it includes energy purchases of US$ 403,347 thousand (US$ 355,554 thousand in 2016) incurred by distribution companies.
Cost of Sales. 8 Default . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Cost of Sales. Represents adjustments comprised of the following: (in millions) Nine Months Ended September 30, 2019 Year Ended December 31, 2018 Depreciation of acquired property, net (i) $ 10.2 $ 11.5 Elimination of cost of sales (ii) 3.6 4.9
Cost of Sales. Cost of Sales shall include only those costs and expenses incurred by the Company that (a) would properly be classified as "Cost of Sales" in the Company's consolidated statement of operations and (b) are directly associated or identifiable with New Business Line Revenues. If only a portion of a cost or expense that would otherwise be included in Cost of Sales is directly associated or identifiable with New Business Line Revenues, the Company shall include in the calculation of Net Earnings only that portion of such cost or expense that is directly associated or identifiable with New Business Line Revenues.
Cost of Sales. 8 Default .................................................................. 8
Cost of Sales. The principal elements of cost of sales are labor, raw materials and manufacturing overhead. Variable costs, such as labor, raw materials, supplies and energy, generally account for approximately two-thirds of the Company's cost of sales. Fixed costs, such as the fixed portion of manufacturing overhead, constitute the remainder of the Company's cost of sales. Cost of sales as a percentage of revenues is also influenced by the product mix sold in any particular quarter and market conditions. The Company's costs related to its foreign operations do not significantly differ from its domestic costs. Selling, General and Administrative Expenses. Selling, general and administrative expenses include the costs associated with sales and marketing, general corporate overhead, compensation expense, legal expenses and other related administrative functions. Engineering and Product Development Expenses. Engineering and product development expenses consist of new product development and testing, as well as application engineering related to customized products. Income Tax Provision. Dril-Quip's effective tax rate has historically been lower than the statutory rate due to benefits from its foreign sales corporation. Results of Operations The following table sets forth, for the periods indicated, certain statement of operations data expressed as a percentage of revenues: Three months Nine months ended ended September 30, September 30, ------------- ------------- 1999 2000 1999 2000 ------ ------ ------ ------ Revenues: Product Group................................. 90.2% 85.4% 88.1% 86.3% Service Group................................. 9.8% 14.6% 11.9% 13.7% ------ ------ ------ ------ Total....................................... 100.0% 100.0% 100.0% 100.0% Cost of sales................................... 69.0% 68.5% 68.3% 67.3% Selling, general and administrative expenses.... 12.7% 13.3% 13.3% 14.3% Engineering and product development expenses.... 6.9% 7.5% 7.0% 7.6% ------ ------ ------ ------ Operating income................................ 11.4% 10.7% 11.4% 10.8% Interest expense (income)....................... (0.4)% 0.6% (0.3)% 0.2% ------ ------ ------ ------ Income before income taxes...................... 11.8% 10.1% 11.7% 10.6% Income tax provision............................ 4.2% 3.5% 4.1% 3.7% ------ ------ ------ ------ Net income...................................... 7.6% 6.6% 7.6% 6.9% ====== ====== ====== ====== Three Months Ended September 30, 2000 Compare...