Financial Report

By Elka Malkis, Financial Manager

The results from our 2nd quarter (October through December) are in, and they look great. We had Sales of $7,494,600, our highest level ever. Sales in January and February have been strong too, with some weeks exceeding $500,000.

Our Gross Margin for the second quarter was 37.1%. Our Payroll expense was 24.1%. Our other expenses this quarter were: Building 2.3%, Operating 3.9%, Admin .7%, Governance 2.3%, and Promotions 1%.

We had Other Income (interest earned, classes, profit from the warehouse) equaling 2.5% of Sales, and a tiny bit of Other Expense (.04%). We sent some money into the State and Federal Governments for estimated taxes, and ended the quarter with 4% of Sales as profit.