RVBD » Topics » STATEMENTS OF OPERATIONS

This excerpt taken from the RVBD 8-K filed Apr 30, 2009.

STATEMENTS OF OPERATIONS

 

     Year Ended December 31  
     2007     2006  

Product revenues

   $ 10,024,731     $ 7,569,611  

Maintenance and service revenues

     3,844,440       2,832,558  

Revenues from related parties

     238,788       293,752  
                

Total revenues

     14,107,959       10,695,921  

Cost of revenues – product

     2,802,539       1,954,423  

Cost of revenues – service

     324,144       224,400  
                

Cost of revenues

     3,126,683       2,178,823  
                

Gross margin

     10,981,276       8,517,098  

Operating expenses:

    

Research and development

     4,045,651       3,716,331  

Selling, general, and administrative

     12,095,413       10,748,460  
                

Total operating expenses

     16,141,064       14,464,791  
                

Loss from operations

     (5,159,788 )     (5,947,693 )

Interest expense

     (587,250 )     (160,661 )

Interest and other income, net

     225,007       328,384  
                

Net loss prior to cumulative effect of change in accounting principle

     (5,522,031 )     (5,779,970 )

Cumulative effect of change in accounting principle (Note 7)

     —         164,322  
                

Net loss

   $ (5,522,031 )   $ (5,615,648 )
                

See accompanying notes.


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