Seasonality Sample Clauses

Seasonality. Shrinkage, which initially shall be the amount equal to that percentage of actual shrink in excess of the percentage accrued by the Borrowers.

Seasonality. Shrinkage.

Seasonality. The predictable annual change in seasons for a specific region that influences the demand for vacation travel to the region.

Seasonality. Shrinkage (to the extent not already reflected in the calculation of Eligible Inventory).

Seasonality. The Company's business is subject to seasonal fluctuations, the effects of weather and economic conditions. Earnings have been highest in its fourth fiscal quarter due primarily to increased customer traffic during the holiday shopping season. The fourth fiscal quarter typically accounts for approximately 40% of annual net income. The length of the holiday shopping period between Thanksgiving and Christmas and the number of weeks in the fourth quarter also impacts the fourth quarter earnings relationship from year to year. NEW RESTAURANT CONCEPTS During 1995, the Company began developing three new restaurant concepts. The first is a casual dining concept under the name Umberto's of New Hyde Park, featuring pizza and other Italian-style foods. The Company has an 80% interest in this restaurant business. Umberto's currently operates five restaurants on Long Island, New York, with three additional units planned for 1998 openings and five food court units in regional shopping malls in Chicago, Las Vegas, White Plains and Long Island, New York. The Company is also developing with joint venture partners a family-style steakhouse concept and an upscale, table-service Italian restaurant, and is analyzing the market potential of a new concept that would offer healthy, South-of-the-Border cuisine. PROPERTIES All Sbarro restaurants are operated in leased premises. As of December 28, 1997, the Company leased 641 restaurants, of which 34 were subleased to franchisees under terms which cover all obligations of the Company under the lease. The remaining franchisees directly lease their restaurant space. Most of the Company's restaurant leases provide for the payment of base rents plus real estate taxes, utilities, insurance, common area charges and certain other expenses, as well as contingent rents generally ranging from 8% to 10% of net restaurant sales in excess of stipulated amounts. Leases to which the Company was a party at December 28, 1997 have initial terms expiring as follows: Years Initial Lease Number of Company- Number of Franchised Terms Expire Owned Restaurants Restaurants ------------ ----------------- ----------- 1998 26 4 1999 - 2003 336 25 2004 - 2008 239 5 2009 - 2012 6 0 Since May 1986, the Company's headquarters have been located in a two-story 20,000 square foot office building located in Commack, New York, which is leased for a period of fifteen years at a current annual base rent of $337,000. The Company pays real estate taxes, utilities, insuran...

Seasonality. Historically, we have experienced the highest levels of revenue in the fourth quarter of the year, coinciding with the holiday shopping season, particularly in the United States and Europe. While we have implemented operational changes aimed at reducing the impact of fourth quarter seasonality on full year performance, timely and effective product introductions and forecasting, whether just prior to the holiday season or otherwise, are critical to our operations and financial performance. Results of Operations The following table sets forth the components of our Condensed Consolidated Statements of Operations for each of the periods presented, and each component as a percentage of revenue: Three months ended September 30, Nine months ended September 30, (dollars in thousands) 2020 2019 2020 2019 Revenue $ 280,507 100 % $ 131,169 100 % $ 534,153 100 % $ 666,306 100 % Cost of revenue 181,195 65 102,737 78 355,722 67 455,342 68 Gross profit 99,312 35 28,432 22 178,431 33 210,964 32 Operating expenses: Research and development 37,235 13 34,940 27 104,074 19 111,215 17 Sales and marketing 34,378 12 48,848 37 112,845 21 148,273 22 General and administrative 18,845 7 15,842 12 53,686 10 49,909 7 Total operating expenses 90,458 32 99,630 76 270,605 50 309,397 46 Operating income (loss) 8,854 3 (71,198) (54) (92,174) (17) (98,433) (14) Other income (expense): Interest expense (5,260) (2) (4,623) (4) (14,774) (3) (14,032) (2) Other income, net 955 — 738 1 462 — 1,503 — Total other expense, net (4,305) (2) (3,885) (3) (14,312) (3) (12,529) (2) Income (loss) before income taxes 4,549 1 (75,083) (57) (106,486) (20) (110,962) (16) Income tax expense (benefit) 1,242 — (273) — 4,710 1 (500) — Net income (loss) $ 3,307 1 % $ (74,810) (57) % $ (111,196) (21) % $ (110,462) (16) % GoPro, Inc. Management’s Discussion and Analysis of Financial Condition and Results of Operations Revenue (camera units and dollars in thousands, except average selling price) Three months ended September 30, Nine months ended September 30, 2020 2019 % Change 2020 2019 % Change Camera units shipped 923 479 93 % 1,712 2,403 (29) % Average selling price $ 304 $ 274 11 $ 312 $ 277 13 GoPr▇.▇▇▇ $ ▇1,331 $ 23,364 248 $ 166,125 $ 80,039 108 Percentage of revenue 29.0 % 17.8 % 31.1 % 12.0 % Retail $ 199,176 $ 107,805 85 $ 368,028 $ 586,267 (37) Percentage of revenue 71.0 % 82.2 % 68.9 % 88.0 % Total revenue $ 280,507 $ 131,169 114 % $ 534,153 $ 666,306 (20) % Americas $ 157,720 $ 60,409 161 % $ 297,607 $ 3...

Seasonality. Breaking Waves believes that its business may be considered seasonal with a large portion of its revenues and profits being derived between December and June for shipments being made between November and May. Each year from January to November, Breaking Waves engages in the process of designing and manufacturing the following season=s swimwear lines, during which time it incurs the majority of its expenses, and generates limited revenues. There can be no assurances that revenues received during December to June will support Breaking Waves= operations for the rest of the year.

Seasonality. The fleet management services businesses are generally not seasonal. REAL ESTATE DIVISION The Real Estate division consists of our Real Estate Franchise, Relocation, Mortgage and ▇▇▇▇.▇▇▇ Group segments (see "Divested ▇▇▇▇▇▇▇▇▇▇--▇▇▇▇.▇▇▇ and Welcome Wagon International"). The Real Estate division represented approximately 39%, 31% and 28% of our revenue for 2000, 1999 and 1998, respectively. REAL ESTATE FRANCHISE SEGMENT

Seasonality. Our results of operations are subject to seasonal fluctuations that impact our operating results from quarter to quarter. In the past, we have experienced the highest level of subscriber additions and activation related expenses, including marketing and promotional expenditures, in the fourth quarter of the calendar year. As a result our OIBDA and operating profit can be impacted in the fourth quarter. Due to lower customer usage levels, our ARPU tends to be lower in the first quarter of the calendar year. Offsetting this, due to lower levels of new customer acquisitions in the first quarter, our costs may be lower in the first quarter. Our revenues are generally higher in the third quarter of the calendar year due to higher usage levels and roaming during the summer holiday season. Churn refers to subscriber disconnection from our services. For the year ended December 31, 2004, we had an average monthly churn rate of less than 2%. We believe that churn levels vary due to a number of factors such as customer loyalty, quality of customer service, changes in technology, product and service offerings and network quality. The introduction of mobile number portability and the launch of UMTS services may impact future churn levels.