Income from Operations. Fail to maintain, as of the end of any fiscal quarter of PRA, positive Income from Operations for such period.
Income from Operations. (a) Net Sales/Income from Operations (Net of excise duty) (b) Other Operating Income Total income from Operations (net) 2. Expenses (a) Cost of Materials consumed (b) Purchase of stock-in-trade (c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (d) Employee benefits expense (e)Depreciation and amortisation expense (f)Other expenses(Any item exceeding 10% of the total expenses relating to continuing operations to be shown separately) Total Expenses 3. Profit / (Loss) from operations before other income, finance costs and exceptional items (1-2)
Income from Operations. 3.3 ----- 39.9 ----- 19.6 4.1 ----- 39.7 ----- 19.7
Income from Operations. 6,223 ---------- 494,822 ---------- 109,657 1,345 -------- 238,086 -------- 105,368 897 -------- 116,174 -------- 55,126 OTHER INCOME (EXPENSE): Interest income......................................... 22,204 10,846 2,645
Income from Operations. Other income (expense): -- -------- -- -------- -- -------- -- -------- 2,310,537 ---------- 760,098 ---------- -- --------- -- --------- 2,310,537 ---------- 760,098 ---------- Interest income (expense), net.......................... (85,965) (72,248) (15,126) -- (173,339) Equity in subsidiaries, net of taxes........................ 400,416 445,571 -- (845,987) -- Other, net...................... Provision for (benefit from) -- -------- 314,451 -- -------- 373,323 14,363 ---------- 752,873 -- --------- (845,987) 14,363 ---------- 594,660 income taxes.................... Net income........................ (32,237) -------- $346,688 ======== (27,093) -------- $400,416 ======== 307,302 ---------- $ 445,571 ========== -- --------- $(845,987) ========= 247,972 ---------- $ 346,688 ========== 25 WASTE MANAGEMENT, INC. PARENT GUARANTOR NON-GUARANTOR ELIMINATIONS CONSOLIDATION --------- ------------- ------------ ------------- Cash flows from operating activities: Net income.................... Equity in earnings of subsidiaries, net of taxes...................... $ 55,003 (134,048) $ 134,048 (172,722) $ 172,722 -- $(306,770) 306,770 $ 55,003 -- Other adjustments and charges.................... Net cash provided by (used in) 28,913 --------- 93,493 --------- 497,820 --------- -- --------- 620,226 --------- operating activities.......... Cash flows from investing (50,132) --------- 54,819 --------- 670,542 --------- -- --------- 675,229 --------- activities: Short-term investments........ -- -- 53,733 -- 53,733 Acquisitions of businesses, net of cash acquired....... -- -- (114,110) -- (114,110) Capital expenditures.......... -- -- (248,565) -- (248,565) Proceeds from sale of assets..................... -- -- 62,022 -- 62,022 Other, net.................... Net cash used in investing -- --------- -- --------- (43,776) --------- -- --------- (43,776) --------- activities.................... -- -- (290,696) -- (290,696) Cash flows from financing activities: Proceeds from issuance of long-term debt............. Principal payments on long-term debt............. (Increase) decrease in intercompany and investments, net...........
Income from Operations. 103,353 --------- 313,820 -- --------- 760,098
Income from Operations. Other income (expense): -- ---- -- ---- -- ---- -- ---- 2,431 ------ 465 ------ -- ----- -- ----- 2,431 ------ 465 ------ Interest income (expense), net (65) (36) (12) -- (113) taxes 272 295 -- (567) -- Minority interest.................. -- -- (1) -- (1) Other, net......................... -- ---- 207 ---- (1) ---- 258 ---- 2 ------ (11) ------ -- ----- (567) ----- 1 ------ (113) ------ Income before income taxes 207 258 454 (567) 352 taxes (24) (14) 159 -- 121 ---- ------ ----- PARENT GUARANTOR NON-GUARANTORS ELIMINATIONS CONSOLIDATED --------- -------------- ------------ ------------
Income from Operations. (a) Net Sales/Income from Operations (Net of excise duty) (b) Other Operating Income Total income from Operations (net) 2. Expenses (a) Cost of Materials consumed (b) Purchase of stock-in-trade (c) Changes in inventories of finished goods, work-in-progress and stock- in-trade (d) Employee benefits expense (e)Depreciation and amortisation expense
Income from Operations. Our income from operations increased $13.1 million, or 32.3%, to $53.6 million in fiscal 1999 from $40.5 million the previous year. This increase was primarily due to increased sales and gross profit partially offset by increased expenses and special charges. INTEREST EXPENSE. Interest expense increased $0.7 million, or 4.5%, to $16.4 million in fiscal 1999 from $15.7 million in the prior year primarily due to financing costs associated with the Latin American acquisition. INCOME TAX EXPENSE. Our effective tax rate for fiscal 1999 was 35.8% compared to 33.9% for fiscal 1998. The lower rate last year was impacted by a lower state tax rate and a lower foreign tax rate as compared to our U.S. Federal statutory rate. EXTRAORDINARY ITEM. We recorded extraordinary expense of $2.0 million, net of tax, in fiscal 1998 for the premium payment on the redemption of a portion of our Series B Senior Subordinated Notes. FISCAL YEAR ENDED SEPTEMBER 30, 1998 COMPARED TO FISCAL YEAR ENDED SEPTEMBER 30, 1997 HIGHLIGHTS OF CONSOLIDATED OPERATING RESULTS NET SALES. Our net sales increased $63.1 million, or 14.6%, to $495.7 million in fiscal 1998 from $432.6 million in fiscal 1997. The increase was driven by increased sales of alkaline, alkaline rechargeable, hearing aid and specialty batteries and lighting products and was somewhat offset by the continued decline in the heavy duty battery market. Acquisitions we made during fiscal 1988 contributed $14.0 million to the improvement in sales. NET INCOME. Net income for fiscal 1998 increased $8.2 million ($10.2 million before extraordinary item), or 132.3%, to $14.4 million from
Income from Operations. Other income (expense): -- ----- 74.3 ----- 25.7 ----- -- ----- 84.8 ----- 15.2 ----- Interest expense.......................................... (5.7) (5.2) Minority interest......................................... (0.2) (0.9) Interest and other income, net............................ Income before income taxes.................................. 0.6 ----- (5.3) ----- 20.4 2.6 ----- (3.5) ----- 11.7