MY Q2 EARNINGS GUESSTIMATE. PART 1
OK, here goes. First here are the numbers for 99Q1, as
percentages of net sales.
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For the Three Months Ended March 31,1999
Net sales (%) 100.00
Cost of goods sold 69.44
Gross profit 30.56
Operating expenses:
Selling, general and administrative 20.03
Gain on foreign exchange (1.59)
Interest 1.48
Bad debt expense .44
Depreciation and amortization .79
Total operating expenses 21.15
Earnings before income taxes 9.41
Net earnings 3.87
(Net earnings were $334,017 for the first quarter of 1999.)
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Now here are the 98Q2 numbers in US$
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For the 3 months ended June 30th 1998
Net sales $5,831,516
Cost of goods sold 3,432,002
Gross profit 2,399,514
Operating expenses:
Selling, general and
administrative 2,283,551
Interest 18,901
Bad debt expense 14,369
Depreciation 45,191
2,362,012
Earnings before income taxes 37,501
Income taxes 25,868
Net earnings $11,633
Earnings per share
Basic 0.01
Diluted -
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MY GUESSWORK FOR 99Q2
SALES
For 98Q2, GRIN had sales of $5.8M and we know from latest news that
they are running "more than double for April/May '98" and sales remain
strong for June, according to the CFO, so I estimate sales for the 3 months
ended in June 1999 should be about $11.6M.
GROSS PROFITS
For gross profit, I will use the 99Q1 percentage of sales (30.56%) as it should
be more relevant (and lower) than the 98Q2 number(41.1%), which would be
based on a different product mix. This gives my estimate of $3.55M for gross
profits.
In the next part, I will post my guesses on total operating expenses and
earnings before/after taxes.
My 2c,
Frank |
