Some comparisons of SCCO financial statements over the past 8 Quarters taken from their
SEC filings and press releases...
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 [ J. Bermingham becomes CEO ]
Dec 31, 1998 $12,768,000 [ Old inventory clearance ]
Mar 31, 1999 $11,893,000 [ Old inventory clearance ]
Jun 30, 1999 $7,932,000
Sep 30, 1999 $8,281,000
Dec 31, 1999 ?????????? [ New Office Depot sales are expected to begin. ]
- - - - - - - - - - - - - - -
GROSS MARGIN
Dec 31, 1997 28.1%
Mar 31, 1998 29.8%
Jun 30, 1998 08.4%
Sep 30, 1998 09.6%
Dec 31, 1998 (06.1%) [ Old inventory clearance ]
Mar 31, 1999 (02.7%) [ Old inventory clearance ]
Jun 30, 1999 15.5%
Sep 30, 1999 28.7% Highest Gross Margin in the past 6 Qtrs
Dec 31, 1999 ????? [ Any additional income from Office Depot license is royalty based. ]
- - - - - - - - - - - - - - -
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%
Jun 30, 1999 42.7%
Sep 30, 1999 32.0% Lowest of any time in the past 2 years.
- - - - - - - - - - - - - - -
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
Jun 30, 1999 $674,000
Sep 30, 1999 $674,000 Lowest in the past 2 years.
- - - - - - - - - - - - - - -
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 ]
Jun 30, 1999 $17,849,000 [ $6.10 million reduction ]
Sep 30, 1999 $15,111,000 [ $2.74 million reduction ]
Total Liabilities have been steadily reduced.
- - - - - - - - - - - - - - -
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
Jun 30, 1999 1.88
Sep 30, 1999 1.96
Current Ratio shows 2 consecutive quarters of improvement.
- - - - - - - - - - - - - - -
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
Jun 30, 1999 $5,453,000
Sep 30, 1999 $3,195,000
SCCO also has a $25,000,000 line of credit thru 2-26-01.
There were no borrowings against that line of credit as of
6-30-99, according to the most recent 10-K.
Interesting. |
