Profitability. The Board reviewed detailed information regarding revenues received by XXXX under the Agreement. The Board considered the estimated costs to XXXX, and pre-tax profits realized by XXXX, from advising the DWS Funds, as well as estimates of the pre-tax profits attributable to managing the Fund in particular. The Board also received information regarding the estimated enterprise-wide profitability of DIMA and its affiliates with respect to all fund services in totality and by fund. The Board and the Fee Consultant reviewed XXXX’s methodology in allocating its costs to the management of the Fund. Based on the information provided, the Board concluded that the pre-tax profits realized by XXXX in connection with the management of the Fund were not unreasonable. The Board also reviewed certain publicly available information regarding the profitability of certain similar investment management firms. The Board noted that, while information regarding the profitability of such firms is limited (and in some cases is not necessarily prepared on a comparable basis), DIMA and its affiliates’ overall profitability with respect to the DWS Funds (after taking into account distribution and other services provided to the funds by XXXX and its affiliates) was lower than the overall profitability levels of most comparable firms for which such data was available. Economies of Scale. The Board considered whether there are economies of scale with respect to the management of the Fund and whether the Fund benefits from any economies of scale. The Board noted that the Fund’s investment management fee schedule includes fee breakpoints. The Board concluded that the Fund’s fee schedule represents an appropriate sharing between the Fund and DIMA of such economies of scale as may exist in the management of the Fund at current asset levels.
Profitability. The Board reviewed detailed information regarding revenues received by XXXX under the Agreement. The Board considered the estimated costs to XXXX, and pre-tax profits realized by XXXX, from advising the DWS Funds, as well as estimates of the pre-tax profits attributable to managing the Fund in particular. The Board also received information regarding the estimated enterprise-wide profitability of DIMA and its affiliates with respect to all fund services in totality and by fund. The Board and the Fee Consultant reviewed XXXX’s methodology in allocating its costs to the management of the Fund. Based on the information provided, the Board concluded that the pre-tax profits realized by XXXX in connection with the management of the Fund were not unreasonable. The Board also reviewed certain publicly available information regarding the profitability of certain similar investment management firms. The Board noted that, while information regarding the profitability of such firms is limited (and in some cases is not necessarily prepared on a comparable basis), DIMA and its affiliates’ overall profitability with respect to the DWS Funds (after taking into account distribution and other services provided to the funds by XXXX and its affiliates) was lower than the overall profitability levels of most comparable firms for which such data was available.
Profitability. Borrower shall have a minimum net profit of One Dollar ($1.00) for each fiscal quarter, except that Borrower may suffer losses not to exceed the following amounts for the following quarters: (i) Six Million Dollars ($6,000,000) for the fiscal quarter ending June 30, 1997, (ii) One Million Five Hundred Thousand Dollars ($1,500,000) for the fiscal quarter ending September 30, 1997, and (iii) Five Hundred Thousand Dollars ($500,000) for the fiscal quarter ending December 31, 1997.
Profitability. To maintain on a consolidated basis a positive net income before taxes and extraordinary items for each annual accounting period.
Profitability. Borrower will maintain a net profit, after provision for income taxes, of any positive amount for any consecutive twelve month period, as reported at the end of each fiscal quarter.
Profitability. Borrower shall have quarterly net losses of not more than (i) $3,500,000.00 for the quarter ending December 31, 2003; (ii) $3,000,000.00 for the quarter ending March 31, 2004; (iii) $5,000,000.00 for the quarter ending June 30, 2004; (iv) $2,000,000.00 for the quarter ending September 30, 2004; (v) $1,000,000.00 for each quarter thereafter" an inserting in lieu thereof the following:
Profitability. Subject to safety, liquidity and sound risk control, Party B shall fully utilize its advantages in scale and organization, strengthen the portfolio deployment and investment operation of the Entrusted Assets, and promote innovative investment so as to improve the profit level of the Entrusted Assets to the extent possible.
Profitability. Borrower shall not incur a loss (as defined below) in excess of $1,750,000 for the quarters ending June 30, 1998 and September 30, 1998, and a loss in excess of $1,000,000 for the quarter ending December 31, 1998. For purposes of this paragraph, "loss" means net income after taxes of less than $0.00, as reported on Borrower's financial statements.
Profitability. Borrower shall be profitable (profitability to be determined in accordance with GAAP and to be net of charges of software development costs) for each fiscal quarter, except Borrower may suffer a loss not to exceed $150,000.00 for one fiscal quarter in any fiscal year, commencing with the fiscal quarter ending March 31, 1999.
Profitability. Borrower shall be profitable for each fiscal quarter, except Borrower may suffer a loss of up to $200,000 in the fourth fiscal quarter of the 1998 fiscal year and a loss of up to $1,000,000 in the first fiscal quarter of the 1999 fiscal year.
