HXL » Topics » Revenue Recognition

These excerpts taken from the HXL 10-K filed Feb 12, 2009.

Revenue Recognition

 

Our revenue is predominately derived from sales of inventory, and is recognized when persuasive evidence of an arrangement exists, title and risk of loss passes to the customer, the sales price is fixed or determinable and collectability is reasonably assured.  However, from time to time we enter into contractual arrangements for which other specific revenue recognition guidance is applied.

 

Recognition of revenue on bill and hold arrangements occurs only when risk of ownership has passed to the buyer, a fixed written commitment has been provided by the buyer, the goods are complete and ready for shipment, the goods are segregated from inventory, no performance obligations remain and a schedule for delivery of goods has been established.  Revenues derived from design and installation services are recognized when the service is provided.  Revenues derived from long-term construction-type contracts are accounted for under Statement of Position No. 81-1 (SOP 81-1), Accounting for Performance of Construction-Type and Certain Production Type Contracts.  The Company accounts for these contracts using the percentage-of-completion method, and progress is measured on a cost-to-cost basis.  If at any time expected costs exceed the value of the contract, the loss is recognized immediately.

 

Revenue Recognition

 

Our revenue is predominately derived from sales of inventory, and is recognized when persuasive evidence of an arrangement exists, title and risk of loss passes to the customer, the sales price is fixed or determinable and collectability is reasonably assured.  However, from time to time we enter into contractual arrangements for which other specific revenue recognition guidance is applied.

 

Recognition of revenue on bill and hold arrangements occurs only when risk of ownership has passed to the buyer, a fixed written commitment has been provided by the buyer, the goods are complete and ready for shipment, the goods are segregated from inventory, no performance obligations remain and a schedule for delivery of goods has been established.  Revenues derived from design and installation services are recognized when the service is provided.  Revenues derived from long-term construction-type contracts are accounted for under Statement of Position No. 81-1 (SOP 81-1), Accounting for Performance of Construction-Type and Certain Production Type Contracts.  The Company accounts for these contracts using the percentage-of-completion method, and progress is measured on a cost-to-cost basis.  If at any time expected costs exceed the value of the contract, the loss is recognized immediately.

 

Revenue Recognition

 

Our revenue is predominately derived from sales of inventory, and is recognized when persuasive evidence of an arrangement exists, title and risk of loss passes to the customer, the sales price is fixed or determinable and collectability is reasonably assured.  However, from time to time we enter into contractual arrangements for which other specific revenue recognition guidance is applied.

 

Recognition of revenue on bill and hold arrangements occurs only when risk of ownership has passed to the buyer, a fixed written commitment has been provided by the buyer, the goods are complete and ready for shipment, the goods are segregated from inventory, no performance obligations remain and a schedule for delivery of goods has been established.  Revenues derived from design and installation services are recognized when the service is provided.  Revenues derived from long-term construction-type contracts are accounted for under Statement of Position No. 81-1 (SOP 81-1), Accounting for Performance of Construction-Type and Certain Production Type Contracts.  The Company accounts for these contracts using the percentage-of-completion method, and progress is measured on a cost-to-cost basis.  If at any time expected costs exceed the value of the contract, the loss is recognized immediately.

 

Revenue Recognition



 



Our revenue is predominately derived from sales
of inventory, and is recognized when
persuasive evidence of an arrangement exists, title and
risk of loss passes to the customer, the sales price is fixed or determinable
and collectability is reasonably assured. 
However, from time to time we enter into contractual arrangements for
which other specific revenue recognition guidance is applied.



 



Recognition of revenue on
bill and hold arrangements occurs only when risk of ownership has passed to the
buyer, a fixed written commitment has been provided by the buyer, the goods are
complete and ready for shipment, the goods are segregated from inventory, no
performance obligations remain and a schedule for delivery of goods has been
established. 
Revenues
derived from design and installation services are recognized when the service
is provided.  Revenues derived from
long-term construction-type contracts are accounted for under Statement of
Position No. 81-1 (SOP 81-1), Accounting for Performance
of Construction-Type and Certain Production Type Contracts
.  The Company accounts for these contracts
using the percentage-of-completion method, and progress is measured on a
cost-to-cost basis.  If at any time
expected costs exceed the value of the contract, the loss is recognized
immediately.



 



These excerpts taken from the HXL 10-K filed Feb 22, 2008.

Revenue Recognition

 

Our revenue is predominately derived from sales of inventory, and is recognized when persuasive evidence of an arrangement exists, title and risk of loss passes to the customer, the sales price is fixed or determinable and collectibility is reasonably assured.  However, from time to time we enter into contractual arrangements for which other specific revenue recognition guidance is applied.

 

Recognition of revenue on bill and hold arrangements occurs only when risk of ownership has passed to the buyer, a fixed written commitment has been provided by the buyer, the goods are complete and ready for shipment, the goods are segregated from inventory, no perfomance obligations remain and a schedule for delivery of goods has been established.  Revenues derived from design and installation services are recognized when the service is provided.

 

Revenues derived from long-term construction-type contracts are accounted for under Statement of Position No. 81-1 (SOP 81-1), Accounting for Performance of Construction-Type and Certain Production Type Contracts.  The Company accounts for these contracts using the percentage-of-completion method, and progress is measured on a cost-to-cost basis.  If at any time expected costs exceed the value of the contract, the loss is recognized immediately.

 

 

51



 

 

Revenue Recognition



 



Our revenue is predominately derived from sales of inventory, and is
recognized when
persuasive evidence of an
arrangement exists, title and risk of loss passes to the customer, the sales
price is fixed or determinable and collectibility is reasonably assured.  However, from time to time we enter into
contractual arrangements for which other specific revenue recognition guidance
is applied.



 



Recognition of revenue on bill and hold
arrangements occurs only when risk of ownership has passed to the buyer, a
fixed written commitment has been provided by the buyer, the goods are complete
and ready for shipment, the goods are segregated from inventory, no perfomance
obligations remain and a schedule for delivery of goods has been
established. 
Revenues derived from design
and installation services are recognized when the service is provided.



 



Revenues derived from long-term construction-type contracts are
accounted for under Statement of Position No. 81-1 (SOP 81-1), Accounting for Performance of Construction-Type and Certain Production
Type Contracts
.  The Company
accounts for these contracts using the percentage-of-completion method, and
progress is measured on a cost-to-cost basis. 
If at any time expected costs exceed the value of the contract, the loss
is recognized immediately.



 



 



51
















 



 



This excerpt taken from the HXL 10-Q filed Nov 7, 2007.

Revenue Recognition

 

Product sales are recognized when all significant contractual obligations have been satisfied and collection of the resulting receivable is reasonably assured, which is generally at the time of shipment.  Revenue is recognized on bill and hold arrangements only when the following criteria are met: risk of ownership has passed to the buyer, a fixed written commitment has been provided by the buyer, the goods are complete and ready for shipment and segregated from inventory, no performance obligations remain and a schedule for delivery of the goods has been established.  Revenues derived from design, installation and support services are recognized when the service is provided.  We accrue for sales returns and allowances based on its historical experience at the time of sale.

 

This excerpt taken from the HXL 10-K filed Mar 1, 2007.

Revenue Recognition

Product sales are recognized when all significant contractual obligations have been satisfied and collection of the resulting receivable is reasonably assured, which is generally at the time of shipment. Revenues derived from design, installation and support services are recognized when the service is provided, or alternatively, when the product to which the service relates is delivered to the customer. We accrue for sales returns and allowances based on its historical experience at the time of sale.

63




 

This excerpt taken from the HXL 10-K filed Mar 8, 2006.

Revenue Recognition

 

Product sales are recognized when all significant contractual obligations have been satisfied and collection of the resulting receivable is reasonably assured, which is generally at the time of shipment. Revenues derived from design, installation and support services are recognized when the service is provided, or alternatively, when the product to which the service relates is delivered to the customer. The Company accrues for sales returns and allowances based on its historical experience at the time of sale.

 

75



 

This excerpt taken from the HXL 10-K filed Feb 27, 2006.

Revenue Recognition

 

Product sales are recognized when all significant contractual obligations have been satisfied and collection of the resulting receivable is reasonably assured, which is generally at the time of shipment.   Revenues derived from design, installation and support services are recognized when the service is provided, or alternatively, when the product to which the service relates is delivered to the customer.  The Company accrues for sales returns and allowances based on its historical experience at the time of sale.

 

This excerpt taken from the HXL 10-K filed Mar 11, 2005.

Revenue Recognition

 

Product sales are recognized when all significant contractual obligations have been satisfied and collection of the resulting receivable is reasonably assured, which is generally at the time of shipment.   Revenues derived from design, installation and support services are recognized when the service is provided, or alternatively, when the product to which the service relates is delivered to the customer.  The Company accrues for sales returns and allowances based on its historical experience at the time of sale.

 

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