ACLS » Topics » Gross Profit

These excerpts taken from the ACLS 10-K filed Mar 15, 2010.

Gross Profit

Product

        Gross profit from product revenue was 14.7% for the twelve months ended December 31, 2009, compared to 17.0% for the twelve months ended December 31, 2008. The decrease resulted from significantly lower systems sales volume during the twelve months ended December 31, 2009, and the related under absorption of manufacturing overhead which reduced gross margins by 30.7%. This was offset by a 12.2% increase in gross margin resulting from the favorable impact of an increased mix of parts and upgrade revenue at higher margins and 16.2% attributable to a lower provision for excess inventory.

Service

        Gross profit from service revenue was 38.8% for the twelve months ended December 31, 2009, compared to 49.2% for the twelve months ended December 31, 2008. The decrease in gross profit is attributable to significantly lower revenue.

Gross Profit

Product

        Gross profit from product revenue was 17.0% for 2008, compared to 36.8% for 2007, a decrease of 19.8%. Approximately 12% of the decrease pertains to an additional reserve of $23.2 million for excess inventory. The remaining 7.8% decrease is attributable to the significantly lower system sales volume (14.9%) during the year. These amounts were offset by the favorable impact of an increased mix of parts and upgrade revenue at higher margins (7.1%).

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Service

        Gross profit from service revenue was 49.2% for 2008, compared to 36.8% for 2007. The increase in gross profit is attributable to service pricing increases enacted during the first quarter of 2008 driving a higher mix of profitable service support agreements and lower expenses against fixed price support contracts.

This excerpt taken from the ACLS 10-Q filed May 11, 2009.

Gross Profit

Product

        Gross profit from product revenue was (2.8%) for the three months ended March 31, 2009, compared to gross profit of 31.2% for the three months ended March 31, 2008. Approximately 26.5% of the 34% decrease resulted from an additional provision for excess inventory. The remaining 7.6% decrease is attributable to the significantly lower system sales volume during the three months ended March 31, 2009, which reduced gross margin by 22.8%, offset by a 15.2% increase in gross margin resulting from an increased mix of parts and upgrade revenue at higher margins.

Service

        Gross profit from service revenue was 42.3% for the three months ended March 31, 2009, compared to 45% for the three months ended March 31, 2008. The decrease in gross profit is attributable to significantly lower volumes.

These excerpts taken from the ACLS 10-K filed Mar 31, 2009.

Gross Profit

Product

        Gross profit from product revenue was 17.0% for 2008, compared to 36.8% for 2007, a decrease of 19.8%. Approximately 12% of the decrease pertains to an additional reserve of $23.2 million for excess inventory. The remaining 7.8% decrease is attributable to the significantly lower system sales volume (14.9%) during the year. These amounts were offset by the favorable impact of an increased mix of parts and upgrade revenue at higher margins (7.1%).

Service

        Gross profit from service revenue was 49.2% for 2008, compared to 36.8% for 2007. The increase in gross profit is attributable to service pricing increases enacted during the first quarter of 2008 driving a higher mix of profitable service support agreements and lower expenses against fixed price support contracts.

Gross Profit



Product



        Gross profit from product revenue was 17.0% for 2008, compared to 36.8% for 2007, a decrease of 19.8%. Approximately 12% of the
decrease pertains to an additional reserve of $23.2 million for excess inventory. The remaining 7.8% decrease is attributable to the significantly lower system sales volume (14.9%) during the
year. These amounts were offset by the favorable impact of an increased mix of parts and upgrade revenue at higher margins (7.1%).



Service



        Gross profit from service revenue was 49.2% for 2008, compared to 36.8% for 2007. The increase in gross profit is attributable to
service pricing increases enacted during the first quarter of 2008 driving a higher mix of profitable service support agreements and lower expenses against fixed price support contracts.



Gross Profit

Product

        Gross profit from product revenue was 36.8% for 2007, compared to 41.2% for 2006. The decrease in gross profit from product revenues is attributable to a decline in product revenue and the related

33



under absorption of manufacturing overhead (approximately 3.2%) and lower margins on new product revenue (approximately 2.7%), offset by the favorable impact of a higher mix or upgrades and proprietary spare parts (approximately 1.4%).

Service

        Gross profit from service revenue was 36.8% for 2007, compared to 33.7% for 2006. The increase in gross profit for 2007 is attributable to improved utilization of the fixed service labor cost base.

Gross Profit



Product



        Gross profit from product revenue was 36.8% for 2007, compared to 41.2% for 2006. The decrease in gross profit from product revenues is
attributable to a decline in product revenue and the related



33











under
absorption of manufacturing overhead (approximately 3.2%) and lower margins on new product revenue (approximately 2.7%), offset by the favorable impact of a higher mix or upgrades and
proprietary spare parts (approximately 1.4%).



Service




        Gross profit from service revenue was 36.8% for 2007, compared to 33.7% for 2006. The increase in gross profit for 2007 is attributable
to improved utilization of the fixed service labor cost base.



This excerpt taken from the ACLS 10-Q filed Nov 10, 2008.

Gross Profit

Product

        Gross profit from product revenue was 30.0% for the three months ended September 30, 2008, compared to 33.1% for the three months ended September 30, 2007. The three percent decrease in gross profit from product revenues is attributable to the significantly lower systems sales volume during the current quarter, which was coupled with significant revenue deferrals creating close to break-even margins. These amounts were offset by the favorable impact of an increased mix of parts and upgrade revenue at much higher margins. Gross profit from product revenue was 31.0% for the nine months ended September 30, 2008, compared with 37.3% in the nine months ended September 30, 2007. The decrease in gross profit from product revenues for the nine month period is attributable to lower margins on new product revenue recognized and the impact of operating overheads on lower volumes (14.5% decrease from the prior year), offset by the favorable impact of an increased mix of parts and upgrade revenue at higher margins (8.2% increase from the prior year). Revenue recognized on new products generally carries lower margins than mature products due to higher initial material costs and labor inefficiencies.

Service

        Gross profit from service revenue was 50.3% for the three months ended September 30, 2008, compared to 31.5% for the three months ended September 30, 2007. Gross profit from service revenue was 47.1% for the nine months ended September 30, 2008, compared to 38.3% for the nine months ended September 30, 2007. The increase in gross profit for both the three and nine month periods ended September 30, 2008, is attributable to service pricing increases enacted during the first quarter of 2008 driving a higher mix of profitable service support agreements and lower expenses against fixed price support contracts.

This excerpt taken from the ACLS 10-Q filed Aug 8, 2008.

Gross Profit

Product

        Gross profit from product revenue was 31.2% for the three months ended June 30, 2008, compared to 38.4% for the three months ended June 30, 2007. The decrease in gross profit from product revenues is attributable to lower margins on new product revenue recognized in the quarter combined with the unfavorable impact of operating overheads on lower volumes (approximately 15.0%), partially offset by the favorable impact of an increased mix of parts and upgrade revenue at higher margins (approximately 7.8%). Revenue recognized on new products generally carries lower margins than mature products due to higher initial material costs and labor inefficiencies. Gross profit from product revenue was 31.2% for the six months ended June 30, 2008, compared with 39.6% in the six months ended June 30, 2007. The decrease in gross profit from product revenues is attributable to lower margins on new product revenue recognized (approximately 11.7%), partially offset by the favorable impact of an increased mix of parts and upgrade revenue at higher margins (approximately 3.3%).

Service

        Gross profit from service revenue was 46.2% for the three months ended June 30, 2008, compared to 41.3% for the three months ended June 30, 2007. Gross profit from service revenue was 45.6% for the six months ended June 30, 2008, compared to 41.6% for the six months ended June 30, 2007. The increase in gross profit for both the three and six month periods ended June 30, 2008, is attributable a higher mix of profitable service support agreements and lower expenses against fixed price support contracts.

These excerpts taken from the ACLS 10-K filed Mar 17, 2008.

Gross Profit

Product

        Gross profit from product revenue was 41.2% for 2006, compared to 38.9% for 2005. The gross profit performance compared to 2005 was the result of favorable operating overheads (approximately 2.1%), systems volume, product mix and changes in revenue deferrals (approximately 1.3%), offset by the negative impact of proportionately lower spare parts & upgrades volume (approximately 1.1%).

Service

        Gross profit from service revenue was 33.7% for 2006, compared to 45.7% for 2005. The decrease in gross profit for 2006 is attributable to decreased service revenue over a relatively fixed service labor cost base (approximately 8.0%), combined with a higher mix of lower margin labor based service revenue (approximately 4.0%).

Gross Profit



Product



        Gross profit from product revenue was 41.2% for 2006, compared to 38.9% for 2005. The gross profit performance compared to 2005 was the result of favorable
operating overheads (approximately 2.1%), systems volume, product mix and changes in revenue deferrals (approximately 1.3%), offset by the negative impact of proportionately lower spare parts &
upgrades volume (approximately 1.1%).



Service



        Gross profit from service revenue was 33.7% for 2006, compared to 45.7% for 2005. The decrease in gross profit for 2006 is attributable to decreased service
revenue over a relatively fixed service labor cost base (approximately 8.0%), combined with a higher mix of lower margin labor based service revenue (approximately 4.0%).




This excerpt taken from the ACLS 10-Q filed Nov 8, 2007.

Gross Profit

Product

        Gross profit from product revenue was 33.1% for the three months ended September 30, 2007, compared to 44.0% for the three months ended September 30, 2006. The decrease in gross profit from product revenues is attributable to a decline in product revenue and the related under absorption of manufacturing overheads (approximately 3.2%), product mix (approximately 7.4%, principally related to revenue recognized on new products which have lower margins than mature products), and increased warranty and installation costs (approximately 2.5%), offset favorably by decreases in deferred revenue (approximately 2.5%). Revenue deferred at the time of shipment generally carries higher gross margins than that recognized at the time of shipment. Gross profit from product revenue was 37.3% for the nine months ended September 30, 2007, compared with 41.5% in the nine months ended September 30, 2006. The gross profit decrease for the nine months is attributable principally to product mix (approximately 2.0%), a decline in product revenues and the related under absorption of manufacturing overheads (approximately 3.4%), increased warranty and installation costs (approximately 1.5%) offset favorably by decreases in deferred revenue (approximately 3.1%).

Service

        Gross profit from service revenue was 31.5% for the three months ended September 30, 2007, compared to 27.8% for the three months ended September 30, 2006. Gross profit from service revenue was 38.3% for the nine months ended September 30, 2007, compared to 32.0% for the nine months ended September 30, 2006. The increase in gross profit for both the three and nine month periods ended September 30, 2007, is attributable to increased service revenue over a relatively fixed service labor cost base.

This excerpt taken from the ACLS 10-Q filed Aug 9, 2007.

Gross Profit

Gross profit was 39.6% of revenue in the three months ended June 30, 2007, compared with gross profit of 40.8% of revenue in the three months ended June 30, 2006.  The gross profit decrease of 1.2 percentage points was the result of unfavorable parts and service volume (approximately 1.6 percentage points), unfavorable operating overheads (approximately 1.8 percentage points), and lower 100% margin SEN royalties (approximately 1.3 percentage points), offset by favorable systems volume, mix and deferrals (approximately 3.5 percentage points).

Gross profit was 40.9% of revenue in the six months ended June 30, 2007, compared with gross profit of 40.4% of revenue in the six months ended June 30, 2006.  The gross profit increase of 0.5 percentage points was the result of favorable systems volume, mix and deferrals  (approximately 3.1 percentage points), offset by unfavorable operating overheads (approximately 1.9 percentage points), lower 100% margin SEN royalties (approximately 0.4 percentage points), and unfavorable parts and service volume (approximately 0.3 percentage points).

This excerpt taken from the ACLS 10-Q filed May 9, 2007.

Gross Profit

Gross profit was 42.3% of revenue in the first quarter of 2007, compared with gross profit of 39.9% of revenue in the first quarter of 2006.  The gross profit increase of 2.4 percentage points was the result of favorable systems volume, mix and deferrals (approximately 2.7 percentage points), higher 100% margin SEN royalties (approximately 0.6 percentage points), and favorable parts and service volume (approximately 1.1 percentage points), offset by unfavorable manufacturing overhead expense (approximately 2.0 percentage points).

This excerpt taken from the ACLS 10-K filed Mar 15, 2007.

Gross Profit

Gross profit was 41.5% of revenue in 2005 compared with 41.6% of revenue in 2004. The gross profit decrease of .1 percentage points was the result of unfavorable systems cost and product mix (approximately 2.5 percentage points), unfavorable systems volume (approximately 1.6 percentage points) and 100% margin SEN royalties (approximately .5 percentage points), offset by an increased percentage of parts and service volume and margins (approximately 4.3 percentage points), and lower warranty costs (approximately .3 percentage points).

This excerpt taken from the ACLS 10-Q filed Nov 8, 2006.

Gross Profit

Gross profit was 43.4% of revenue in the three months ended September 30, 2006, compared with gross profit of 40.9% of revenue in the three months ended September 30, 2005.  The gross profit increase of 2.5 percentage points was the result of favorable systems volume, mix and deferrals  (approximately 5.1 percentage points), favorable manufacturing expenses (approximately 2.6 percentage points) and higher SEN royalties (approximately 0.6 percentage points), offset by a lower percentage of total revenue of higher margin parts and service business (approximately 5.8 percentage points).

 

Gross profit was 41.4% of revenue in the nine months ended September 30, 2006, compared with gross profit of 41.6% of revenue in the nine months ended September 30, 2005.  The gross profit decrease of 0.2 percentage points was the result of  a lower percentage of total revenue of higher margin parts and service business (approximately 1.2 percentage points)  and lower 100%

17




margin SEN royalties (approximately 0.6 percentage points) offset by favorable systems volume, mix and deferrals  (approximately 1.0 percentage points) and favorable manufacturing expenses (approximately 0.6 percentage points).

This excerpt taken from the ACLS 10-Q filed Aug 8, 2006.

Gross Profit

Gross profit was 40.8% of revenue in the three months ended June 30, 2006, compared with gross profit of 42.2% of revenue in the three months ended June 30, 2005.  The gross profit decrease of 1.4 percentage points was the result of lower SEN royalties (approximately 2.0 percentage points) and unfavorable operating overheads (approximately 0.5 percentage points) offset by favorable systems volume, mix and deferrals  (approximately 1.2 percentage points).

Gross profit was 40.4% of revenue in the six months ended June 30, 2006, compared with gross profit of 42.0% of revenue in the six months ended June 30, 2005.  The gross profit decrease of 1.6 percentage points was the result of unfavorable systems product mix and deferrals  (approximately 1.1 percentage points), lower 100% margin SEN royalties (approximately 1.1 percentage points), unfavorable operating overheads (approximately 0.5 percentage points), offset by favorable mix in the relative proportion of service revenue to total revenue (approximately 1.1 percentage points).

This excerpt taken from the ACLS 10-Q filed May 10, 2006.

Gross Profit

Gross profit was 39.9% of revenue in the first quarter of 2006 compared with gross profit of 41.8% of revenue in the first quarter of 2005. The gross profit decrease of 1.9 percentage points was the result of lower systems volume, product mix and deferrals  (approximately 3.6 percentage points), lower 100% margin SEN royalties (approximately 0.4 percentage points), unfavorable operating overheads (approximately 0.3 percentage points), offset by favorable parts and service volume (approximately 2.5 percentage points).

This excerpt taken from the ACLS 10-K filed Mar 14, 2006.
Gross Profit

Gross profit was 41.6% of revenue in 2004 compared with 33.6% of revenue in 2003. The gross profit increase of 8.0 percentage points was primarily due to  increased sales volume and the related increased absorption of fixed manufacturing costs (approximately 6 percentage points), reduced system warranty costs (approximately 1.5 percentage points) and improved pricing (approximately 1 percentage point) due to favorable market conditions which provided increased demand and an expanded customer base.

This excerpt taken from the ACLS 10-Q filed Nov 9, 2005.
Gross Profit

 

Gross profit was 40.9% of revenue in the third quarter of 2005 compared with gross profit of 42.3% of revenue in the third quarter of 2004.  The gross profit decrease of 1.4 percentage points was the result of losses on two tools recorded in the quarter (approximately 2.1 percentage points), the unfavorable impact of systems produced at higher operating overheads (approximately 2.1 percentage points), an unfavorable product mix in the quarter (approximately 2.0 percentage points) and lower royalty revenues (approximately 1.7 percentages points), partially offset by higher margins on service revenues (approximately 5.5 percentage points).

 

Gross profit was 41.6% of revenue for the nine months ended September 30, 2005 compared with gross profit of 41.8% of revenue for the nine months ended September 30, 2004.  The gross profit decrease of 0.2 percentage points was the result of unfavorable systems cost and mix (approximately 2.5 percentage points) and volume (approximately 1.8 percentage points), impact of systems produced at higher operating overheads (approximately 0.4 percentage points), losses on two tools recorded during the third

 

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quarter (approximately 0.7 percentage points), offset by higher margins on service revenues (approximately 5.3 percentage points).

 

This excerpt taken from the ACLS 10-Q filed Aug 9, 2005.

Gross Profit

 

Gross profit was 42.2% of revenue in the second quarter of 2005 compared with gross profit of 45.2% of revenue in the second quarter of 2004.  The gross profit decrease of 3.0 percentage points was primarily due to unfavorable mix and volume variances on systems produced at higher operating overheads (approximately 4.7 percentage points), unfavorable volume and mix on service revenues (approximately 4.1 percentage points), offset by the favorable effect of higher margin royalty revenue on lower overall revenue volume (approximately 3.3 percentage points), as well as the favorable impact from the timing of revenue recognition

 

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related to previously deferred items (approximately 2.6 percentage points).

 

Gross profit was 42.0% of revenue for the six months ended June 30, 2005 compared with gross profit of 41.5% of revenue for the six months ended June 30, 2004.  The gross profit increase of .5 percentage points was primarily due to the favorable impact from the timing of revenue recognition related to previously deferred items (approximately 2.8 percentage points) and the favorable impact of royalty revenue on lower overall revenue volume (approximately 2.0 percentage points), offset by the unfavorable impact of systems mix and systems produced at higher operating overheads (approximately 2.4 percentage points) and unfavorable volume and mix on service revenues (approximately 1.9 percentage points).

 

This excerpt taken from the ACLS 10-Q filed May 10, 2005.

Gross Profit

 

Gross profit was 41.8% of revenue in the first quarter of 2005 compared with gross profit of 37.4% of revenue in the first quarter of 2004.  The gross profit increase of 4.4 percentage points was primarily due to favorable product mix and an increase in the number of lower costing 300mm ship from cell systems shipped (approximately 1.3 percentage points), favorable manufacturing variances associated with products produced at lower operating overheads (approximately 2.2 percentage points), offset by the

 

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unfavorable margin impact of lower royalty revenue in the first quarter of 2005 (approximately 0.5 percentage points).

 

The gross margin in the first quarter of 2004 was impacted negatively by approximately 1.5 percentage points due to a one-time buy-resale transaction with SEN for product sales outside of Japan.

 

This excerpt taken from the ACLS 10-K filed Mar 15, 2005.

Gross Profit

        Gross profit was 33.6% of net sales in 2003 compared to gross profit of 35.3% in 2002. The decrease in gross profit was due to higher warranty costs associated with 300mm product shipments (approximately 1.5 percentage points); the Company's implementation of a revised revenue recognition policy to comply with the provisions of EITF 00-21 (approximately 1.5 percentage points); and a reduction in average selling prices discussed above (approximately 1.1 percentage points). These items were offset by improved manufacturing costs due to increased factory utilization and lower raw material costs.

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