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 48% to $1.5 million in the year ended December 31, 2000 from $2.8 million in the year ended December 31, 1999. This decrease was attributable primarily to a 45% decrease in sales to $2.1 million in the year ended December 31, 2000 from $3.9 million in the year ended December 31, 1999. Research and Development. Research and development expenses increased 34% to $11.5 million in the year ended December 31, 2000 from $8.6 million in the year ended December 31, 1999. The primary reason for this increase was additional spending on clinical trials and development of pilot production for the RDX system. Marketing and Sales. Marketing and sales expenses decreased 58% to $0.8 million in the year ended December 31, 2000 from $2.0 million in the year ended December 31, 1999. This decrease primarily was the result of the expiration of a marketing allowance for Cathex, our Japanese Focus technology distributor, in the fourth quarter of 2000. Reductions in our international sales force and related expenses also contributed to the decrease in expenses. General and Administrative. General and administrative expenses increased 25% to $3.1 million in the year ended December 31, 2000 from $2.5 million in the year ended December 31, 1999. The increase was due primarily to higher legal costs associated with the Endosonics litigation and to a higher incidence of bad debt expense in 2000 compared with 1999. Charge for Acquired In-Process Research and Development. We recognized a charge of $4.2 million in the year ended December 31, 1999. We incurred the charge for the acquisition in January 1999 of the shares of the former Radiance Medical Systems that we did not already own. Other Income (Expense). Other income decreased 4% to $2.5 million for the year ended December 31, 2000 from $2.6 million in the year ended December 31, 1999. Interest income increased 11% to $1.4 million in the year ended December 31, 2000 from $1.2 million in the year ended December 31, 1999. The increase was due primarily to a increase in invested cash from our secondary offering in October 2000. Gain on sale of assets decreased to $1.1 million in 2000 from $1.3 million in 1999. The primary source for the 2000 gain on sale of assets was the sale of an option to purchase certain equity investments held by us. Because the option expired, without exercise, in December 2000, we anticipate that other income will be significantly lower for 2001, compared with 2000. The 1999 gain incl...
Cost of Sales. Our cost of sales (including depreciation and amortization and impairment) increased by US$185 million, or 15%, to US$1,391 million during 2017 from US$1,206 million during 2016, primarily due to: a US$20 million asset write off registered during 2017, which is comprised of an impairment charge in respect of Xxxxx’s investment of Samay III S.A.’s Colombian assets; a US$3 million, or 2% increase in the depreciation and amortization expenses included in our cost of sales, to US$136 million during 2017 from US$133 million during 2016, primarily as a result of (1) an increase in our Peru segment depreciation and amortization expenses as a result of the CODs of the Samay I plant and the CDA plant in May 2016 and August 2016, respectively; and (2) an increase in our Distribution segment depreciation and amortization expenses as a result of the consolidation of the results of Energuate for the full year ended December 31, 2017 compared to eleven months of the year 2016. These effects were partially offset by a decrease in our Central America segment depreciation and amortization expenses as a result of the write off of several of Kanan’s assets as a result of the fire at our Kanan plant in April 2017; a US$162 million or 15%, increase in our cost of sales (excluding depreciation and amortization and impairment) to US$1,235 million during 2017 from US$1,073 million during 2016, primarily due to (1) a US$111 million, or 35% increase in cost of sales of our Peru segment, primarily driven by cost of sales related to our Samay I and CDA plants as a result of their respective CODs in May 2016 and August 2016, and (2) a US$50 million, or 12% increase in cost of sales of Energuate as a result of (i) the appreciation in the Guatemalan Quetzal against the US dollar, (ii) an increase in Energuate’s energy purchase expenses due to the increase in the energy sold and the increase in commercial losses, and (iii) the consolidation of the results of Energuate for the full year ended December 31, 2017 compared to eleven months in 2016. Peru Segment Cost of sales (excluding depreciation and amortization and impairment) from our Peru segment increased by US$111 million, or 35%, to US$430 million during 2017 from US$319 million during 2016, primarily as a result of: a US$97 million, or 606%, increase in Samay I’s cost of sales, primarily as a result of its COD in May 2016 and an increase in the dispatch of the Samay I plant as a result of unavailability of other plants and a...
Cost of Sales. Our cost of sales (including depreciation and amortization and impairment) decreased by US$11 million, or 3%, to US$317 million during the three-month period ended December 31, 2017 from US$328 million during the same period in 2016, primarily due to: • a US$4 million, or 11% decrease in depreciation expense attributable to cost of sales due to a decrease in Kanan’s depreciation expenses due to asset write-offs as a result of the fire at the Kanan plant; • a US$7 million or 2% decrease in the cost of sales (excluding depreciation and amortization and impairment) mainly due to a US$7 million, or 35% decrease and a US$6 million, or 50% decrease in Nejapa and PQP’s cost of sales respectively; partially offset by a US$3 million, or 5% increase in cost of sales of Energuate as a result of higher energy purchase expenses. Peru Segment Our cost of sales in the Peru segment (excluding depreciation and amortization and impairment) decreased by US$3 million, or 4%, to US$83 million during the three-month period ended December 31, 2017 from US$86 million during the same period in 2016, primarily due to a US$10 million decrease in Kallpa’s natural gas cost due to a 669 GWh decrease in Kallpa’s net generation. This effect was partially offset by
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. 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. 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 53.3 percent for the year ended July 31, 2009, compared to 51.0 percent for the same period in the prior year. The increase is primarily due to an increase in store-wide discounts during the Holiday season and an inventory impairment charge recorded during the fourth quarter of fiscal year 2009 totaling approximately 80 basis points associated with our decision to accelerate the sale of certain clearance merchandise. The increase was partially offset by an increase in revenues recognized associated with lifetime warranties. Our LIFO inventory charges were $1.0 million and $2.4 million for the fiscal years ended July 31, 2009 and 2008, respectively.
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...
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. 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
