Results of Operations Sample Clauses

Results of Operations. Three Months Ended September 28, 1996 As Compared To Three Months Ended September 30, 1995 Net sales for the three months ended September 28, 1996, decreased 5.7% to $584,075 compared to $619,632 for the three months ended September 30, 1995. Eddie Bauer's retail sales increased by 2.6% compared to the same period last year with a comparable store sales decrease of 5.8%. Comparable store sales were negatively impacted by the reduction of footwear assortment in the stores which was done to provide more space for a new higher margin line of performance outerwear and activewear called EBTek. Total Company catalog sales declined 9.5% for the quarter as a result of lower productivity from Spiegel and Newport News catalog divisions. Finance revenue for the third quarter of 1996 was $26,826 or 45.7% below the $49,390 reported for the same period in 1995. This decrease was the result of a significantly lower level of average owned FCNB Preferred Card receivables in the third quarter of 1996 compared to the same period in 1995 due to sales of customer receivables. The gross profit margin on net sales during the third quarter of 1996 increased to 31.0% from 30.4% during the third quarter of 1995. This improvement was driven mainly by higher margins in the Eddie Bauer division resulting from a lower level of promotional activity, less markdowns and reduced inventory levels. Slightly offsetting this improvement was declines in gross profit margin experienced at the Spiegel division as a result of higher liquidation activity on overstock merchandise. Selling, general and administrative expenses as a percentage of total revenues for the three months ended September 28, 1996 and September 30, 1995 were 36.3% and 39.1%, respectively. The majority of the improvement is the result of activities related to the Company's credit operations. In general, the Company's credit business has a higher selling, general and administrative expense ratio than other areas of the Company and has been experiencing higher charge-offs. However, as a result of the receivable sales, the selling, general and administrative expense ratio for the credit business has improved. This has had a favorable impact on the overall Company's ratio. In addition, the net effect from the reversal of the provision for doubtful accounts related to the sale of customer receivables was approximately $6,300 which represented an improvement of 1.1% in the selling, general and administrative expense percentage in the...
Results of Operations. For purposes of this discussion and analysis section, reference is made to the table on page 11 and the Company's Statements of Consolidated Operations included in the Financial Statements section. IDEX consists of three reportable business segments: Pump Products, Dispensing Equipment and Other Engineered Products. PERFORMANCE IN THE SECOND QUARTER ENDED JUNE 30, 1999 COMPARED TO THE SAME PERIOD OF 1998 Net sales for the three months ended June 30, 1999, were $161.5 million, a decrease of 5% from the sales of $169.5 million for the second quarter of 1998. Foreign currency translation accounted for 1% of this difference. Net income from continuing operations for the quarter amounted to $14.1 million, 7% lower than the $15.1 million earned in last year's second quarter. Diluted earnings per share from continuing operations were 47 cents versus 50 cents in the same quarter last year. Second quarter diluted earnings per share were the third highest in the Company's history but fell short of the record performance set in the same quarter last year. New orders from continuing operations totaled $161.3 million and essentially equaled shipments, maintaining the $9 million backlog build which occurred during the first quarter of the year. The Company ended the second quarter with a typical unfilled orders backlog of about 1 1/3 months' sales. In the second quarter of 1999, the Pump Products Group contributed 59% of sales and 57% of operating income, the Dispensing Equipment Group accounted for 20% of sales and 24% of operating income, and the Other Engineered Products Group represented 21% of sales and 19% of operating income. International sales were 38% of total sales in the second quarter of 1999, down from 39% in last year's second quarter. Compared to the second quarter of last year, total domestic sales decreased 2%, while international sales declined 9%. Certain international markets, especially Europe, experienced softer economic conditions this quarter compared to the second quarter of last year. Pump Products Group sales of $94.9 million decreased by $4.4 million, or 4%, in the second quarter of 1999 compared with last year's second quarter chiefly due to lower sales from certain business units that serve the chemical processing, oil and gas, and pulp and paper markets. Sales to customers outside the U.S. declined to 30% of total sales in the first quarter of 1999 from 31% in 1998. Dispensing Equipment Group sales of $33.1 million for the three months en...
Results of Operations. The results of operations set forth in the Income Statement on page F-5 have been adjusted to reflect the impact of discontinued operations. See Note 3 — Discontinued Operations in our consolidated financial statements. The following description of results of operations is presented for the years ended December 31, 2008, 2007, and 2006. 2008 Compared to 2007 Net sales from continuing operations for the year ended December 31, 2008 were $516.9 million, which was a 4.6% increase over net sales of $494.0 million for the same twelve months in 2007. U.S. sales were $285.2 million for 2008, compared to $292.6 million for 2007, which is a decrease of 2.5%. International sales were $231.7 million for the twelve months ended December 31, 2008 compared to $201.4 million for the same period of 2007, or an increase of 15.0%. Net sales for the twelve months ended December 31, 2008 increased approximately $23 million with approximately $20 million from price increases, $2 million due to foreign currency translation and $1 million from volume. In the fourth quarter 2008, the Company’s sales declined substantially from the trends in the first three quarters as global economic conditions, particularly in steel production, deteriorated. The fourth quarter 2008 sales were 16% less than the comparable 2007 quarter with a $21 million sales decline of which approximately $20 million was from volume. Gross margin from continuing operations for the twelve months ended December 31, 2008 was $159.1 million, or 30.8% of net sales, compared to $154.4 million, or 31.2% of net sales, for the same period in 2007. The gross margin decline is due to increases in the costs of materials such as copper, brass and steel partially offset by manufacturing cost savings and improved pricing administration consisting of sales price increases. The impact of increases in materials and production supply cost reduced gross margin by an estimated $26 million. These material cost increases were offset in part by cost savings from productivity initiatives of an estimated $18 million under the Company’s Total Cost Productivity (TCP) initiative. Selling, general and administrative expenses (“SG&A”) were $112.1 million, or 21.7% of net sales, for the twelve months ended December 31, 2008 as compared to $106.0 million, or 21.5% of net sales, for the twelve months ended December 31, 2007. The increase in SG&A includes severance cost charges of $3.6 million arising from the fourth quarter 2008 decision to redu...
Results of Operations. Three Months Ended September 27, 1997 As Compared To Three Months Ended September 28, 1996 Net sales for the three months ended September 27, 1997, increased 1.3% to $591,694 compared to $584,075 for the three months ended September 28, 1996. Sales increases from Eddie Bauer's retail and catalog divisions were significantly offset by sales decreases at Spiegel Catalog. Retail sales at Eddie Bauer increased 9.1% over last year, driven by an increase in the number of stores compared to last year. Comparable store sales declined 2% for the quarter. Total Company catalog sales declined 2.6% for the period as the growth of Eddie Bauer's catalog operations and the favorable performance of the Company's Newport News division was more than offset by lower Spiegel Catalog sales. Spiegel Catalog continues to be affected by lower productivity and response rates experienced in catalog mailings as well as a smaller active customer file. Finance revenue for the third quarter of 1997 increased to $46,368 from $26,826 a year earlier. Revenues were favorably affected by a pretax gain of $22,686 on the sale of customer receivables recognized pursuant to SFAS No. 125. This gain was offset somewhat by lower finance revenues generated as a result of a significantly lower average level of owned customer receivables. The lower level of owned customer receivables was driven by decreases in sales on the Company's proprietary credit card, particularly at Spiegel Catalog. The gross profit margin on net sales decreased to 29.6% for the three months ended September 27, 1997 from 31.0% for the comparable 1996 period. This margin decrease is primarily due to a higher level of markdowns taken by Spiegel Catalog to manage inventory risk and liquidate merchandise that is not in line with the company's new targeted merchandise direction. Additionally, Eddie Bauer is experiencing some margin rate pressures due to somewhat higher levels of promotional activity. Selling, general and administrative expenses as a percentage of total revenues for the three months ended September 27, 1997 and September 28, 1996 were 37.2% and 36.3%, respectively. Factors contributing to the increase included less leverage of fixed expenses, primarily at Spiegel Catalog, as a result of lower productivity from catalog offerings. In addition, the 1996 ratio was favorably impacted by the reversal of $6,300 of provision for doubtful accounts related to the sale of customer receivables. Interest expense for the three mo...
Results of Operations. The Parties have displayed their agreement regarding the fundamental ratemaking metrics at issue in this proceeding in Attachment 2. The Parties’ agreement does not extend to any figures that are not displayed in Attachment 2.
Results of Operations. To the best of each of their knowledge, the information concerning the Partnership's financial condition and the results of operations as of June 30, 1999 and for the period January 1, 1999 through June 30, 1999 attached hereto as Schedule 4.4 fairly presents in all material respects the financial condition and results of operation of the Partnership as of said date and for such period.
Results of Operations. We have presented the following data in thousands, except per share data. Statement of Operations Data Quarters Ended March 31, Years Ended December 31, ------------ ------------ --------------------------- 2003 2002 2002 2001 ------------ ------------ ------------ ------------ Revenue $ 12,657 $ 16,777 $ 63,175 $ 119,530 Cost of revenue 12,938 16,484 74,031 82,191 ------------ ------------ ------------ ------------ Gross profit (loss) (281) 293 (10,856) 37,339 Operating expenses: Selling, general and administrative 3,286 5,202 18,648 21,487 Research and development 744 1,353 4,868 8,204 Restructuring costs - - 39,086 - ------------ ------------ ------------ ------------ Total operating expenses 4,030 6,555 62,602 29,691 ------------ ------------ ------------ ------------ Income (loss) from operations (4,311) (6,262) (73,458) 7,648 Interest expense 237 385 1,326 2,081 Other (income) and expense, net (231) (717) 12,705 13,373 ------------ ------------ ------------ ------------ Loss before income tax benefit (4,317) (5,930) (87,489) (7,806) Income tax benefit - (2,372) (6,308) (2,810) ------------ ------------ ------------ ------------ Net loss $ (4,317) $ (3,558) $ (81,181) $ (4,996) ============ ============ ============ ============
Results of Operations. COMPARISON OF 2002 TO 2001 Revenues. Our revenues in 2002 and 2001 are comprised of revenues for subscriptions to our services and implementation revenues. The following table sets forth for the periods indicated the components of revenue included in our consolidated statements of operations:
Results of Operations. For purposes of this discussion and analysis section, reference is made to the table on page 18 and the Company's Statements of Consolidated Operations on page 23. IDEX consists of three reporting groups: Pump Products, Dispensing Equipment and Other Engineered Products. The Pump Products Group designs, produces and distributes a wide range of engineered industrial pumps, compressors, flow meters and related controls for process applications, including mixing and metering paints, inks, chemicals, foods, lubricants and fuels, as well as in medical, pharmaceutical and semiconductor applications, water treatment, and industrial production operations. The Dispensing Equipment Group designs, manufactures and distributes precision-engineered equipment for dispensing, metering and mixing paints and coatings in retail and commercial markets; refinishing equipment; and centralized lubrication systems. The Other Engineered Products Group designs, produces and distributes proprietary engineered products for industrial and commercial markets including fire and rescue, transportation equipment, oil and gas, electronics, communications, and traffic and commercial signs. PERFORMANCE IN 2000 COMPARED TO 1999 IDEX achieved record orders, sales, net income and earnings per share in 2000. Incoming orders totaled $699 million, 7% higher than in 1999. Recent acquisitions (FAST-June 1999, Ismatec-April 2000 and Trebor-May 2000) added 5% to full-year orders and base business orders increased by 5%, while foreign currency translation had a 3% negative effect. All three groups showed year-over-year improvements. Net sales for 2000 reached $704.3 million and increased $49.3 million, or 8%, over 1999. Base business sales were up 6% and acquisitions added 5%, while foreign currency translation had a 3% negative effect. Sales to customers outside the U.S. were 41% of total sales in 2000, up from 39% in 1999. International sales increased by 12% for 2000, while domestic sales increased by 4%. Excluding the recent acquisitions and foreign currency translation, international sales increased by 11%, reflecting higher sales volume in all international markets. Pump Products Group sales of $395.0 million in 2000 increased by $22.6 million, or 6%, from 1999 principally reflecting 3% higher base business sales and the Ismatec and Trebor acquisitions, which added 4% to the sales growth. Foreign currency translation had a 1% negative effect on the group's sales comparison to 1999. International...
Results of Operations. The following table sets forth selected financial data as a percentage of total revenues for the periods indicated: YEAR ENDED DECEMBER 31, ----------------------- 2001 ---- 2002 ---- 2003 ---- Research services........................................... 80% 73% 73% Advisory services and other................................. Total revenues............................................ 20 --- 100 27 --- 100 27 --- 100 Cost of services and fulfillment............................ 31 35 40 Selling and marketing....................................... 37 31 32 General and administrative.................................. 10 13 12 Depreciation and amortization............................... 6 9 5 Amortization of intangible assets........................... 1 -- 7 Integration costs........................................... -- -- 1 Reorganization costs........................................ 2 13 2 --- --- --- Income (loss) from operations............................. 13 (1) 1 Other income, net........................................... 5 5 3 Impairments of non-marketable investments, net.............. (2) (4) (1) Gain on sale of Internet AdWatch............................ 1 -- -- --- --- --- Income before income tax provision (benefit).............. 17 -- 3 Provision (benefit) for income taxes........................ 6 (1) 1 --- --- --- Net income................................................ 11% 1% 2% YEARS ENDED DECEMBER 31, 2003 AND DECEMBER 31, 2002 === === === REVENUES. Total revenues increased 30% to $126.0 million in 2003 from $96.9 million in 2002. The acquisition of Giga closed on February 28, 2003, and as such, Giga's operations have been included in the consolidated financial statements since February 28, 2003. Revenues from research services increased 30% to $92.3 million in 2003 from $71.0 million in 2002. Increases in total revenues and revenues from research services were primarily attributable to increases in agreement value and client companies as a result of the Giga acquisition. No single client company accounted for more than 3% of revenues during 2003 or 2002. Advisory services and other revenues increased 30% to $33.7 million in 2003 from $26.0 million in 2002. During 2003, we held 8 Forrester Events and four legacy-Giga events as compared to 14 Forrester Events held during 2002. The increase in advisory services and other revenues is primarily attributable to increases in the number of clients to 1,812 at December 31, 2003 from 1,125 at De...