Results of Operations. For purposes of this discussion and analysis section, reference is made to the table on page 18 and the Company's Statements of Consolidated Operations on page 23. IDEX consists of three reporting groups: Pump Products, Dispensing Equipment and Other Engineered Products. The Pump Products Group designs, produces and distributes a wide range of engineered industrial pumps, compressors, flow meters and related controls for process applications, including mixing and metering paints, inks, chemicals, foods, lubricants and fuels, as well as in medical, pharmaceutical and semiconductor applications, water treatment, and industrial production operations. The Dispensing Equipment Group designs, manufactures and distributes precision-engineered equipment for dispensing, metering and mixing paints and coatings in retail and commercial markets; refinishing equipment; and centralized lubrication systems. The Other Engineered Products Group designs, produces and distributes proprietary engineered products for industrial and commercial markets including fire and rescue, transportation equipment, oil and gas, electronics, communications, and traffic and commercial signs. PERFORMANCE IN 2000 COMPARED TO 1999 IDEX achieved record orders, sales, net income and earnings per share in 2000. Incoming orders totaled $699 million, 7% higher than in 1999. Recent acquisitions (FAST-June 1999, Ismatec-April 2000 and Trebor-May 2000) added 5% to full-year orders and base business orders increased by 5%, while foreign currency translation had a 3% negative effect. All three groups showed year-over-year improvements. Net sales for 2000 reached $704.3 million and increased $49.3 million, or 8%, over 1999. Base business sales were up 6% and acquisitions added 5%, while foreign currency translation had a 3% negative effect. Sales to customers outside the U.S. were 41% of total sales in 2000, up from 39% in 1999. International sales increased by 12% for 2000, while domestic sales increased by 4%. Excluding the recent acquisitions and foreign currency translation, international sales increased by 11%, reflecting higher sales volume in all international markets. Pump Products Group sales of $395.0 million in 2000 increased by $22.6 million, or 6%, from 1999 principally reflecting 3% higher base business sales and the Ismatec and Trebor acquisitions, which added 4% to the sales growth. Foreign currency translation had a 1% negative effect on the group's sales comparison to 1999. International...
Results of Operations. Six months ended March 2015 compared with six months ended March 2014 (consolidated results) On May 15, 2015, we issued our unaudited financial statements for the six months ended March 31, 2015, which are included in the ANZ New Zealand Financial Statements attached to this Offering Memorandum as Annex A. The table below sets forth our results for the six months ended March 31, 2015 and 2014 and for the year ended September 30, 2014. Summary Income Statement Six months ended March 31, Year ended September 30, NZ$ millions, unless otherwise stated 2015 2015 20142 20143 US$ millions1 Interest income 2,579 3,445 2,998 6,272 Interest expense 1,514 2,022 1,644 3,529 Net interest income 1,065 1,423 1,354 2,743 Other operating income 442 591 522 1,085 Net operating income 1,507 2,014 1,876 3,828 Operating expenses 565 755 727 1,489 Profit before credit impairment and income tax 942 1,259 1,149 2,339 Credit impairment charge / (release) 22 30 (42) (16) Profit before income tax 920 1,229 1,191 2,355 Income tax expense 000 000 000 639 Profit after income tax 000 000 000 1,716
Results of Operations. Overview of the Three and Six Months Ended June 30, 2015 and 2014 The following tables set forth selected information concerning our results of operations as a percentage of consolidated net revenue for the periods indicated (in thousands): Three Months Ended June 30, 2015 % of Revenue 2014 % of Revenue Dollar Change % Change Revenue $ 1,020 100.0 % $ 1,410 100.0 % $ (390 ) (28 %) Cost of revenue 412 40.4 % 699 49.6 % (287 ) (41 %) Gross profit 608 59.6 % 711 50.4 % (103 ) (14 %) Operating expenses: Sales and marketing 295 28.9 % 390 27.7 % (95 ) (24 %) Product development and technical operations 631 61.9 % 1,217 86.3 % (586 ) (48 %) General and administrative 477 46.8 % 999 70.9 % (522 ) (52 %) Restructuring charge 217 21.4 % 7 0.5 % 210 3000 % Total operating expenses 1,620 158.8 % 2,613 185.3 % (993 ) (38 %) Income loss from operations (1,012 ) (99.2 %) (1,902 ) (134.9 %) 890 (47 %) Non-operating income (expense), net 19 1.9 % 41 2.9 % (22 ) (54 %) Loss from operations before income taxes (993 ) (97.4 %) (1,861 ) (132.0 %) 868 (47 %) Net loss $ (993 ) (97.4 %) $ (1,861 ) (132.0 %) $ 868 (47 %) Six Months Ended June 30, 2015 % of Revenue 2014 % of Revenue Dollar Change % Change Revenue $ 2,004 100.0 % $ 2,468 100.0 % $ (464 ) (19 %) Cost of revenue 864 43.1 % 1,390 56.3 % (526 ) (38 %) Gross profit 1,140 56.9 % 1,078 43.7 % 62 6 % Operating expenses: Sales and marketing 703 35.1 % 845 34.2 % (142 ) (17 %) Product development and technical operations 1,333 66.5 % 2,417 97.9 % (1,084 ) (45 %) General and administrative 807 40.3 % 1,641 66.5 % (834 ) (51 %) Restructuring charge 293 14.7 % 16 0.7 % 277 1731 % Total operating expenses 3,136 156.5 % 4,919 199.3 % (1,783 ) (36 %) Loss from operations (1,996 ) (99.6 %) (3,841 ) (155.6 %) 1,845 (48 %) Non-operating income (expense), net 15 0.7 % 84 3.4 % (69 ) (82 %) Loss from continuing operations before income taxes (1,981 ) (98.9 %) (3,757 ) (152.2 %) 1,776 (47 %) Income tax expense — — — 0.0 % — — Net loss $ (1,981 ) (98.9 %) $ (3,757 ) (152.1 %) $ 1,776 (47 %) Overview of the Years Ended December 31, 2014 and December 31, 2013 The following table sets forth selected information concerning our results of operations as a percentage of consolidated net revenue for the years ended December 31, 2014 and 2013 (in thousands): Year Ended December 31, % of % of Dollar % 2014 Revenue 2013 Revenue Change Change Revenue $ 4,702 100.0 % $ 6,679 100.0 % $ (1,977 ) (30 )% Cost of revenue 2,441 51.9 % 4,474 67.0 % (2,033 )...
Results of Operations. The Parties have displayed their agreement regarding the fundamental ratemaking metrics at issue in this proceeding in Attachment 2. The Parties’ agreement does not extend to any figures that are not displayed in Attachment 2.
Results of Operations. The following table sets forth selected financial data as a percentage of total revenues for the periods indicated: YEAR ENDED DECEMBER 31, ----------------------- 2001 ---- 2002 ---- 2003 ---- Research services........................................... 80% 73% 73% Advisory services and other................................. Total revenues............................................ 20 --- 100 27 --- 100 27 --- 100 Cost of services and fulfillment............................ 31 35 40 Selling and marketing....................................... 37 31 32 General and administrative.................................. 10 13 12 Depreciation and amortization............................... 6 9 5 Amortization of intangible assets........................... 1 -- 7 Integration costs........................................... -- -- 1 Reorganization costs........................................ 2 13 2 --- --- --- Income (loss) from operations............................. 13 (1) 1 Other income, net........................................... 5 5 3 Impairments of non-marketable investments, net.............. (2) (4) (1) Gain on sale of Internet AdWatch............................ 1 -- -- --- --- --- Income before income tax provision (benefit).............. 17 -- 3 Provision (benefit) for income taxes........................ 6 (1) 1 --- --- --- Net income................................................ 11% 1% 2% YEARS ENDED DECEMBER 31, 2003 AND DECEMBER 31, 2002 === === === REVENUES. Total revenues increased 30% to $126.0 million in 2003 from $96.9 million in 2002. The acquisition of Giga closed on February 28, 2003, and as such, Giga's operations have been included in the consolidated financial statements since February 28, 2003. Revenues from research services increased 30% to $92.3 million in 2003 from $71.0 million in 2002. Increases in total revenues and revenues from research services were primarily attributable to increases in agreement value and client companies as a result of the Giga acquisition. No single client company accounted for more than 3% of revenues during 2003 or 2002. Advisory services and other revenues increased 30% to $33.7 million in 2003 from $26.0 million in 2002. During 2003, we held 8 Forrester Events and four legacy-Giga events as compared to 14 Forrester Events held during 2002. The increase in advisory services and other revenues is primarily attributable to increases in the number of clients to 1,812 at December 31, 2003 from 1,125 at De...
Results of Operations. COMPARISON OF 2002 TO 2001 Revenues. Our revenues in 2002 and 2001 are comprised of revenues for subscriptions to our services and implementation revenues. The following table sets forth for the periods indicated the components of revenue included in our consolidated statements of operations:
Results of Operations. Three Months Ended April 1, 2001 as Compared with Three Months Ended March 26, 2000 Net sales in the first quarter of 2001 increased 1.9% to $164.0 million from $160.9 million in the first quarter of 2000. Foreign exchange had a negative effect on sales of approximately $4.4 million, or 3 percentage points of growth. Net sales in the Specialty Minerals segment, which includes the Precipitated Calcium Carbonate ("PCC") and Processed Minerals product lines, grew 4.4% in the first quarter of 2001 to $120.7 million from $115.6 million in the first quarter of 2000. Worldwide net sales of PCC grew 4.9% to $99.7 million from $95.0 million in the first quarter of 2000. Foreign exchange had a negative effect of approximately $2.4 million on sales. Growth in sales revenue in PCC for paper was primarily the result of two new satellite PCC plants and several expansions at existing satellite plants. This provided 15 units of new production capacity; a unit represents between 25,000 and 35,000 tons of annual PCC production. The Company also experienced lost sales from the shutdown of the International Paper Company mill in Mobile, Alabama, as well as from production slowdowns at several other paper xxxxx. Sales of PCC used for filling and coating paper had a 7% increase in volume. The Specialty PCC product line, used in non-paper applications, experienced a sales decline. This decline was attributable primarily to weak industry conditions and a more competitive environment in the calcium supplement market. At the same time, the Company's new Specialty PCC merchant plant in Brookhaven, Mississippi had lower-than-expected sales because of a delayed startup and longer-than-expected customer qualification programs. On January 2, 2001, the Company announced an agreement with Great Northern Paper, Inc. to build a satellite plant that will provide the Company's ATTM PCC for filling groundwood specialty paper to its Millinocket, Maine paper mill. This satellite will be equivalent to two units. On March 26, 2001, Minerals Technologies Inc. announced an agreement with M-real Corporation of Finland, formerly the Xxxxx-Xxxxx Group, to construct and operate a satellite PCC plant at a paper mill owned by M-real at Alizay, France. This plant, which will be equivalent to three satellite units, will produce PCC products used in the filling of wood-free printing and writing papers. The plant in Maine is expected to be operational in the third quarter of 2001 and the plant in France will ...
Results of Operations. To the best of each of their knowledge, the information concerning the Partnership's financial condition and the results of operations as of June 30, 1999 and for the period January 1, 1999 through June 30, 1999 attached hereto as Schedule 4.4 fairly presents in all material respects the financial condition and results of operation of the Partnership as of said date and for such period.
Results of Operations. We have presented the following data in thousands, except per share data. Statement of Operations Data Quarters Ended March 31, Years Ended December 31, ------------ ------------ --------------------------- 2003 2002 2002 2001 ------------ ------------ ------------ ------------ Revenue $ 12,657 $ 16,777 $ 63,175 $ 119,530 Cost of revenue 12,938 16,484 74,031 82,191 ------------ ------------ ------------ ------------ Gross profit (loss) (281) 293 (10,856) 37,339 Operating expenses: Selling, general and administrative 3,286 5,202 18,648 21,487 Research and development 744 1,353 4,868 8,204 Restructuring costs - - 39,086 - ------------ ------------ ------------ ------------ Total operating expenses 4,030 6,555 62,602 29,691 ------------ ------------ ------------ ------------ Income (loss) from operations (4,311) (6,262) (73,458) 7,648 Interest expense 237 385 1,326 2,081 Other (income) and expense, net (231) (717) 12,705 13,373 ------------ ------------ ------------ ------------ Loss before income tax benefit (4,317) (5,930) (87,489) (7,806) Income tax benefit - (2,372) (6,308) (2,810) ------------ ------------ ------------ ------------ Net loss $ (4,317) $ (3,558) $ (81,181) $ (4,996) ============ ============ ============ ============
Results of Operations. The following table sets forth selected financial data as a percentage of total revenues for the periods indicated: YEAR ENDED DECEMBER 31, -------------------- 1997 ---- 1998 ---- 1999 ---- Core research............................................... 75% 76% 74% Advisory services and other................................. Total revenues.............................................. 25 --- 100 24 --- 100 26 --- 100 Cost of services and fulfillment............................ 34 36 32 Selling and marketing....................................... 35 34 36 General and administrative.................................. 11 11 11 Depreciation and amortization............................... 3 4 4
