Here are some interesting numbers regarding SCCO...
SALES
Dec 31, 1997 $17,055,000
Mar 31, 1998 $15,098,000
Jun 30, 1998 $12,031,000
Sep 30, 1998 $11,114,000
Dec 31, 1998 $12,768,000
Mar 31, 1999 $11,893,000
Quarterly Sales Avg (trailing twelve months) is about $12 million.
Jun 30, 1999 $ ???????????
- - - - - - - - - - - - - - -
GROSS MARGIN
Dec 31, 1997 28.1% Net Profit (before extra-ordinary gain) 10.14% of Gross Sales
Mar 31, 1998 29.8%
Jun 30, 1998 08.4%
Sep 30, 1998 09.6%
Dec 31, 1998 (06.1%)
Mar 31, 1999 (02.7%)
Company targets about 28% Gross Margin w/ Net Profit about 10%.
Clearance inventory was gone by the end of the March, 1999 which
is expected to help Gross Margins return to previous levels.
Jun 30, 1999 ??? %
- - - - - - - - - - - - - - -
S, G & A EXPENSES
Dec 31, 1997 42.6%
Mar 31, 1998 51.1%
Jun 30, 1998 55.0%
Sep 30, 1998 49.7%
Dec 31, 1998 41.3%
Mar 31, 1999 38.5%
With 57% fewer employees, SGA Expenses should be lower.
4Q (ended Jun 30, 1999) expected to be the first quarter in which
SGA Expense reductions see the full benefit of the New Strategy.
Jun 30, 1999 ??? %
- - - - - - - - - - - - - - -
OTHER LONG-TERM LIABILITIES
Dec 31, 1997 $2,645,000
Mar 31, 1998 $2,645,000
Jun 30, 1998 $4,007,000
Sep 30, 1998 $3,782,000
Dec 31, 1998 $3,568,000
Mar 31, 1999 $1,641,000
Looking at the current rate of reduction in
Other Long-Term Liabilities, is it possible the 4Q
(ended Jun 30, 1999) might be the first time in years
that SCCO could have -0- Other Long-Term Liabilities?
Jun 30, 1999 $ ???????
- - - - - - - - - - - - - - -
TOTAL LIABILITIES
Dec 31, 1997 $32,865,000
Mar 31, 1998 $30,690,000 [ $2.17 million reduction ]
Jun 30, 1998 $30,047,000 [ $643 thousand reduction ]
Sep 30, 1998 $29,088,000 [ $959 thousand reduction ]
Dec 31, 1998 $27,969,000 [ $1.12 million reduction ]
Mar 31, 1999 $23,951,000 [ $4.02 million reduction ]
Total Liabilities have been reduced at a faster rate EVERY Quarter
for the past year with the largest reduction being the most recent
period. That reduction alone was MORE than the previous three
Quarters combined!
Jun 30, 1999 $ ????????
- - - - - - - - - - - - - - -
CURRENT RATIO
Dec 31, 1997 2.64
Mar 31, 1998 2.59
Jun 30, 1998 2.49
Sep 30, 1998 2.17
Dec 31, 1998 1.85
Mar 31, 1999 1.49
Having taken the large Inventory write-down (due to clearance
merchandise) in the 3Q (ended Mar 31, 1999), is it possible the
Balance Sheet is ready to begin showing more strength?
Jun 30, 1999 ????
- - - - - - - - - - - - - - -
CASH
Dec 31, 1997 $28,769,000
Mar 31, 1998 $24,506,000
Jun 30, 1998 $15,293,000
Sep 30, 1998 $6,257,000
Dec 31, 1998 $3,095,000
Mar 31, 1999 $5,932,000
Cash finally started to increase again in the 3Q
(ended Mar 31, 1999) Sales stabilized and cash increased
even though the Company paid off more Liabilities.
Is this a turning point?
Jun 30, 1999 $ ????????
The 4Q report should prove interesting.
- - - - - - - - - - - - - - -
The statistical data above was taken from the following SEC filings...
Dec 31, 1997
sec.gov
Mar 31, 1998
sec.gov
Jun 30, 1998
sec.gov
Sep 30, 1998
sec.gov
Dec 31, 1998
sec.gov
Mar 31, 1999
sec.gov
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