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Third quarter 2010 gross profit was $41.1 million compared to $31 million for the third quarter 2009. The increase in gross profit was due to higher gross margins, which mostly resulted from selling products in the third quarter 2010 that had been acquired in prior quarters when their costs were lower and due to increased unit volumes. Third quarter 2010 gross margin was 19.5 percent compared to 16.1 percent in the third quarter 2009 and was aided by cost increases imposed by major suppliers in July 2010 and September 2010. In addition, the company grew unit volumes by 5 percent during the third quarter 2010 compared to the same period in the prior year.
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