Financial Report

Elka Malkis

Sales at the Co-op for the second quarter of fiscal year 2006/07 (Oct 1, 2006 through December 31, 2006) were $9,375,568. This is a 3.5% increase over the same period last year.

Our Gross Profit Margin (how much we have left after paying suppliers for the food we sell) was 33.5%. That means if we sell something to you for a dollar, we paid 66 1/2 cents to a vendor for that item and from the remaining 33 1/2 cents, we paid all our other expenses. Our total labor related costs (wages, payroll taxes and all benefits) came to 22.3%. Building expenses were 2.3%; this includes real estate taxes, utilities, garbage and insurance. Operating expenses were 4.7%; this includes repair and maintenance of equipment, all supplies both large and small, credit card fees and licenses. Admin, Governance and Promotions expenses were 3.8%, including advertising, member discounts, the newsletter and office supplies.

We ended the quarter with $282,937 (3%) in profit, out of which we paid $62,605 in estimated State and Federal Income Taxes.