Interesting info buried in the 10-Q:
>>Revenues for other services and projects for the first nine months of 1998 increased to $83,612 from $42,863 or 95.1% compared to the same period in 1997. <<
One of the interesting things I see in these numbers is the substantial (95%) increase in OEM contract sales. I wonder if this represents a shift in their marketing strategy from an individual sales approach to an OEM approach, where they just manufacture and have another company them worry about the marketing expenses. Any ideas?
>>Net sales for the third quarter 1998 increased 27.4% to $136,681 as compared to $107,292 for the third quarter 1997. Foreign export net sales decreased 11.2% for the quarter to $63,550 from $71,562 and 11.5% for the first nine months of 1998 to $201,051 from $227,122. Domestic net sales for the quarter decreased 6.6% to $33,374 from $35,730 <<
If Foreign sales were $63,550 and Domestic Sales were $33,374, that would be about $96,924 in sales. Subtract from the $136,681, leaving just about $40,000 in OEM sales This Quarter. That's almost half of all OEM sales ($83,612) from the past 9 months.
I have not seen the tableized version of the statements yet, but it seems that a substantial increase in OEM sales has occurred, more than compensating for the 11% drop in Export sales and the 6% drop in Domestic sales.
After all is said and done, they still posted a 27% increase in Net Sales. While it's not the 150% everyone here would like to see, it's still not too shabby.
Does anyone know what they reported for total outstanding shares?
-Dan |
