Annual Net Income definition

Annual Net Income means the audited annual net profit of the Company in respect of

Annual Net Income means the consolidated net profit of the Corporation and its subsidiaries, for a given fiscal year, as determined by the firm of independent certified public accountants providing auditing services to the Corporation, using generally accepted accounting principles consistently applied, and calculated without regard to (a) any bonus paid to the Corporation's Chairman of the Board and any formula bonuses paid pursuant to employment contracts, (b) federal and state income tax, and (c) any income or loss attributable to any other corporation or entity (including the assets of a corporation or entity that constitute an operating business) acquired by or merged into the Corporation subsequent to the effective date of this Agreement. The Corporation shall pay to Employee any Performance Bonus due the Employee hereunder not later than fifteen (15) days after the receipt by the Corporation of its annual audited financial statements, which the Corporation expects to receive within ninety (90) days after the end of each fiscal year of the Corporation.

Annual Net Income means the consolidated net profit of the Corporation and its subsidiaries, for a given fiscal year, as determined by the firm of independent certified public accountants providing auditing services to the Corporation, using generally accepted accounting principles consistently applied, and calculated without regard to (a) any bonuses paid to the Corporation's Chairman of the Board, President and any Vice-President; (b) federal and state income tax; and (c) any income or loss attributable to any other corporation or entity (including the assets of a corporation or entity that constitute an operating business) acquired by or merged into the Corporation subsequent to the effective date of this Agreement. If during the term of this Agreement outstanding debt of the Corporation is repaid through the proceeds of the sale of the Corporation's stock by the Corporation, the interest that otherwise would have been payable on such repaid debt shall be deemed to have been paid by the Corporation for purposes of calculating the Corporation's "Annual Net Income", as if such repayment of debt had not occurred. The Corporation shall pay to Employee any Performance Bonus due the Employee hereunder not later than fifteen (15) days after the receipt by the Corporation of its annual audited financial statements, which the Corporation expects to receive within ninety (90) days after the end of each fiscal year of the Corporation.

Examples of Annual Net Income in a sentence

• If there is any Annual Net Income (after tax) of the current fiscal year after final account, it shall first be used to offset its losses in previous years which have not been previously offset (include the adjusted amount of undistributed earnings); then a special capital reserve shall be set aside in accordance with the Applicable Public Company Rules or as requested by the authorities in charge.

• Commodity Sensitivities Net of Cash Flow Protection Activities Unit ofEstimated Decrease in Annual Net Income Attributable to Per Unit Decrease In addition to the linear relationships in our commodity sensitivities above, additional factors may cause us to be less sensitive to commodity price declines.

• The Directors shall prepare such proposal as follows: the Company’s Annual Net Income before tax and the distribution of the compensation of employees and directors, and offset its losses in previous years that have not been previously offset; the Company then shall set aside 1% to 3% of the profits proposed to be distributed, as compensation to employees of the Company, which may be distributed under an incentive program approved pursuant to Article 11.1 above.

• On a year to date basis, IFA currently shows Annual Net Income of $584 thousand.

• On a year to date basis, the Authority currently shows Projected Annual Net Income of $754 thousand.

More Definitions of Annual Net Income

Annual Net Income means the consolidated net profit of the Corporation and its subsidiaries, for a given fiscal year, as determined by the firm of independent certified public accountants providing auditing services to the Corporation, using generally accepted accounting principles consistently applied, and calculated without regard to (a) any bonus paid to the Corporation's Chairman of the Board and any formula bonuses paid pursuant to employment contracts, and (b) federal and state income tax. The Corporation shall pay to Employee any Performance Bonus due the Employee hereunder not later than fifteen (15) days after the receipt by the Corporation of its annual audited financial statements, which the Corporation expects to receive within ninety (90) days after the end of each fiscal year of the Corporation.

Annual Net Income means the audited annual net profit of the Company in respect ofthe applicable year.

Annual Net Income means the “net earnings (loss)” of the Bank for each Fiscal Year determined in accordance with generally accepted accounting principles, as adjusted for unusual and/or non-recurring items as determined at the discretion of the Board. “Net earnings (loss)” of the Bank is the amount reported in the schedules to the consolidated financial statements of Franklin Financial Corporation MHC (“Franklin MHC”) and subsidiaries, as audited by the independent auditors for Franklin MHC.

Annual Net Income means the total Net Income received by the Partners in a particular Calendar Year.

Annual Net Income income as shown on the consoli- dated statements of income provided by xxx Xxmpany under Section 6.1, but in no event less than 0.

Annual Net Income income as shown on the consolidated statements of income provided by the Company under Section 6.1, but in no event less than 0.

Annual Net Income means the audited annual net profit of the Company inrespect of the applicable year.