Gross Profit definition

Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

Gross Profit means sales minus the cost of goods sold.

Gross Profit means gross receipts minus the amount actually expended for the payment of prize awards.

Examples of Gross Profit in a sentence

• The sum produced by applying the Rate of Gross Profit to the amount by which the Turnover during the Indemnity Period shall in consequence of the damage fall short of the Standard Turnover.

• Gross Profit from self-employment is the income remaining after deducting any identifiable costs of doing business from the gross income.

• Gross Sales Less Sales Returns and Discounts Net Sales Less: Cost of Goods Sold Beginning Inventory at Cost Add: Purchases Less: Ending Inventory at Cost Cost of Goods Sold Gross Profit Other Operating Revenue (Specify) Less: Operating Expenses Officer Compensation Salaries & Wages—Other Employees Total Salaries & Wages Employee Benefits Payroll Taxes Real Estate Taxes Federal and State Income Taxes Total Taxes Rent and Lease Exp.

• The insurance is limited to loss of Gross Profit due to:(a) reduction in Turnoverand(b) increase in cost of working.

• If any working expenses of the Business are excluded by this Section (having been deducted in arriving at Gross Profit), then in calculating the amount recoverable under this Section as Increase in Cost of Working, only that proportion of any such additional expenditure shall be taken into account that Gross Profit bears to the sum of Gross Profit and the Uninsured Working Expenses.

More Definitions of Gross Profit

Gross Profit means the amount by which the sum of the Turnover and the amount of the closing stock and work in progress exceeds the sum of the opening stock and work in progress and the amount of the Uninsured Working Expenses.

Gross Profit means as to any Performance Period the difference between gross revenue of the Company or any business unit and cost of goods sold of the Company or such business unit, in each case determined in accordance with GAAP.

Gross Profit has the meaning set forth in Section 3.2.

Gross Profit means sales revenue less cost of goods sold.

Gross Profit means, with respect to a fiscal year of the Company, the excess, if any, of (x) the sum of (i) the amount set forth in the Company's audited Consolidated Statements of Operations as set forth in the Company's annual report on Form 10-K (the "Income Statement") for such fiscal year with respect to the line item "Net income (loss)" plus (ii) the amount, if any, set forth in the Company's Income Statement for such fiscal year with respect to the line item "Income tax expense (benefit)", to the extent that there is "Income tax expense" less (iii) the amount, if any, set forth in the Company's Income Statement for such fiscal year with respect to the line item "Income tax expense (benefit)", to the extent that there is "Income tax (benefit)" plus (iv) the amount(s), if any, set forth in the Company's Income Statement for such fiscal year relating to any income tax expense included in any income or (loss) attributable to the discontinued operations and/or extraordinary items set forth in the Income Statement less (v) the amount(s), if any, set forth in the Company's Income Statement for such fiscal year relating to any income tax (benefit) included in any income or (loss) attributable to such discontinued operations and/or extraordinary items set forth in the Income Statement, over (y) the Excluded Amounts for such fiscal year.

Gross Profit means the amount by which: the sum of the Turnover and the amount of the closing stock and work in progress shall exceed the sum of the amount of the opening stock and work in progress and the amount of the Uninsured Working Expenses as set out in the Schedule.(The amounts of the opening and closing stocks and work in progress shall be arrived at in accordance with the Insured’s normal accountancy methods, due provision being made for depreciation. Where insured expenses are included in the Insured’s stocks and work in progress such amounts shall be excluded for the purpose of the Gross Profit Definition.)”

Gross Profit means the sum produced by adding the Net Profit the amount of all Standing Charges or if there be no Net Profit the amount of all standing charges less any net trading loss.