|
|
 | | | |
- close
- close
- close
- close
These excerpts taken from the SMG 10-K filed Dec 3, 2008. Income from
Operations
Income from operations in fiscal 2008 was $98.0 million
compared to $277.1 million in fiscal 2007, a decrease of
$179.1 million. Fiscal 2008 was negatively impacted by
impairment charges ($136.8 million) and product
registration and recall costs ($51.1 million) that, when
excluded, result in income from operations of
$285.9 million. Fiscal 2007 was negatively impacted by
impairment and other charges ($38.0 million) that, when
excluded, result in income from operations of
$315.1 million. Excluding the impairment and other charges
and product registration and recall costs, income from
operations declined by $29.2 million in 2008, primarily
driven by increased commodity costs which more than offset price
increases passed onto our customers.
Income from operations in fiscal 2007 was $277.1 million
compared to $252.5 million in fiscal 2006, an increase of
$24.6 million. Both years were negatively impacted by
impairment, restructuring and other charges that, when excluded,
result in a decline of $13.1 million of income from
operations in fiscal 2007 as compared to fiscal 2006. The
adverse effects of weather on net sales growth coupled with a
40 basis point decline in gross profit and SG&A
spending increases were the drivers behind this decline.
Income from Operations Income from operations in fiscal 2008 was $98.0 million compared to $277.1 million in fiscal 2007, a decrease of $179.1 million. Fiscal 2008 was negatively impacted by impairment charges ($136.8 million) and product registration and recall costs ($51.1 million) that, when excluded, result in income from operations of $285.9 million. Fiscal 2007 was negatively impacted by impairment and other charges ($38.0 million) that, when excluded, result in income from operations of $315.1 million. Excluding the impairment and other charges and product registration and recall costs, income from operations declined by $29.2 million in 2008, primarily driven by increased commodity costs which more than offset price increases passed onto our customers. Income from operations in fiscal 2007 was $277.1 million compared to $252.5 million in fiscal 2006, an increase of $24.6 million. Both years were negatively impacted by impairment, restructuring and other charges that, when excluded, result in a decline of $13.1 million of income from operations in fiscal 2007 as compared to fiscal 2006. The adverse effects of weather on net sales growth coupled with a 40 basis point decline in gross profit and SG&A spending increases were the drivers behind this decline. These excerpts taken from the SMG 10-K filed Nov 25, 2008. Income from
Operations
Income from operations in fiscal 2008 was $98.0 million
compared to $277.1 million in fiscal 2007, a decrease of
$179.1 million. Fiscal 2008 was negatively impacted by
impairment charges ($136.8 million) and product
registration and recall costs ($51.1 million) that, when
excluded, result in income from operations of
$285.9 million. Fiscal 2007 was negatively impacted by
impairment and other charges ($38.0 million) that, when
excluded, result in income from operations of
$315.1 million. Excluding the impairment and other charges
and product registration and recall costs, income from
operations declined by $29.2 million in 2008, primarily
driven by increased commodity costs which more than offset price
increases passed onto our customers.
Income from operations in fiscal 2007 was $277.1 million
compared to $252.5 million in fiscal 2006, an increase of
$24.6 million. Both years were negatively impacted by
impairment, restructuring and other charges that, when excluded,
result in a decline of $13.1 million of income from
operations in fiscal 2007 as compared to fiscal 2006. The
adverse effects of weather on net sales growth coupled with a
40 basis point decline in gross profit and SG&A
spending increases were the drivers behind this decline.
Income from Operations Income from operations in fiscal 2008 was $98.0 million compared to $277.1 million in fiscal 2007, a decrease of $179.1 million. Fiscal 2008 was negatively impacted by impairment charges ($136.8 million) and product registration and recall costs ($51.1 million) that, when excluded, result in income from operations of $285.9 million. Fiscal 2007 was negatively impacted by impairment and other charges ($38.0 million) that, when excluded, result in income from operations of $315.1 million. Excluding the impairment and other charges and product registration and recall costs, income from operations declined by $29.2 million in 2008, primarily driven by increased commodity costs which more than offset price increases passed onto our customers. Income from operations in fiscal 2007 was $277.1 million compared to $252.5 million in fiscal 2006, an increase of $24.6 million. Both years were negatively impacted by impairment, restructuring and other charges that, when excluded, result in a decline of $13.1 million of income from operations in fiscal 2007 as compared to fiscal 2006. The adverse effects of weather on net sales growth coupled with a 40 basis point decline in gross profit and SG&A spending increases were the drivers behind this decline. This excerpt taken from the SMG 10-K filed Nov 29, 2007. Income from
Operations
Income from operations in fiscal 2007 was $277.1 million
compared to $252.5 million in fiscal 2006, an increase of
$24.6 million. Both years were negatively impacted by
impairment, restructuring and other charges that, if excluded,
results in a decline of $13.1 million of income from operations
in fiscal 2007 as compared to fiscal 2006. The adverse effects
of weather on net sales growth coupled with a 40 basis
point decline in gross profit and SG&A spending increases
were the drivers behind this decline.
Income from operations in fiscal 2006 increased
$51.6 million from fiscal 2005. Income from operations in
fiscal 2006 was negatively impacted by $66.4 million from
impairment charges and an additional $9.4 million of
restructuring charges. Income from operations in fiscal 2005 was
negatively impacted by the following charges:
(1) $45.7 million related to the
Roundup®
deferred contribution charge; (2) a $22.0 million
charge for impairment of U.K. intangibles; and
(3) $26.3 million in restructuring charges. These were
partially offset by $16.8 million of litigation related
income. If these unusual factors were excluded from the
year-over-year comparison, fiscal 2006 would show an 18%
improvement over fiscal 2005. Higher net sales and Project
Excellence savings, offset by a gross margin rate decline and
growth in advertising spending, were the major contributors to
the adjusted 18% growth in income from operations.
This excerpt taken from the SMG 10-K filed Dec 14, 2006. Income from
Operations
Income from operations in fiscal 2006 was $252.5 million,
compared to $200.9 million in fiscal 2005, an increase of
$51.6 million. Income from operations in fiscal 2006 was
negatively impacted by $66.4 million from impairment
charges and an additional $9.4 million of restructuring
charges. Income from operations in fiscal 2005 was negatively
impacted by the following charges: (1) $45.7 million
related to the
Roundup®
deferred contribution charge; (2) a $22.0 million
charge for impairment of U.K. intangibles; and
(3) $26.3 million in restructuring charges. These were
partially offset by $16.8 million of litigation related
income as discussed above. If these unusual factors were
excluded from
year-over-year
comparison, fiscal 2006 would show an 18% improvement over
fiscal 2005. Higher net sales and Project Excellence savings,
offset by a gross margin rate decline and growth in advertising
spending, were the major contributors to the 18% growth in
income from operations.
Income from operations in fiscal 2005 declined
$51.9 million from fiscal 2004. In addition to fiscal 2005
charges detailed in the preceding paragraph, the change in
income from operations is attributable to higher net sales and
gross profit margins, and significantly higher earnings from the
Roundup®
marketing agreement, partially offset by higher legal and
Sarbanes-Oxley compliance costs and sales force investments in
North America.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for SMG: |
| |||||||
