Cohen & Steers Global Income Builder Inc (INB, Financial) filed Quarterly Report for the period ended 2012-09-30.
Cohen And Steers Global Income Builder has a market cap of $552.8 million; its shares were traded at around $10.19 with and P/S ratio of 1.7. The dividend yield of Cohen And Steers Global Income Builder stocks is 6.5%.
Rent expense for the three months ended September 30, 2012 and 2011 on these leases were $271 and $184 respectively, and are included in both cost of sales and selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations. As of September 30, 2012 and June 30, 2012, the Company had an outstanding obligation of $784 and $776, respectively, included in accounts payable and long term debt in the accompanying Condensed Consolidated Balance Sheet.
Cost of sales. Cost of sales decreased by $1.2 million to $6.9 million for the three months ended September 30, 2012, as compared to $8.1 million for the three months ended September 30, 2011. Cost of sales increased as a percentage of sales to 81.5% for the three months ended September 30, 2012 as compared to 74.7% for the three months ended September 30, 2011. The decrease in the cost of goods sold amount was primarily the result of decreased sales. The cost of sales as a percentage of sales increased as a result of a greater percentage of sales being derived from our contract manufacturing, which has a higher cost of goods sold percentage (approximately 84%) as compared to the proprietary branded nutraceutical product line (approximately 57%).
Selling and Administrative Expenses. Selling and administrative expenses were $1.2 million for the three months ended September 30, 2012, as compared to $2.1 million for the three months ended September 30, 2011, a decrease of approximately $0.9 million or 44%. As a percentage of sales, net, selling and administrative expenses were 14.1% for the three months ended September 30, 2012 and 19.7% for the prior comparable period.
Our advertising and marketing costs decreased by approximately $0.6 million in the three months ended September 30, 2012 compared to the three months ended September 30, 2011 primarily as a result of a decrease in in-store demonstrations (“demos”) of our products at one of our customer s store locations. As a percentage of sales, our advertising and marketing costs represented 2.5% in the three months ended September 30, 2012 compared to 7.5% in the three months ended September 30, 2011. The decrease in marketing and advertising expenses is a direct result of the decreases in sales of approximately $2.0 million in our branded proprietary nutraceutical products as well as a move away from performing in-store demos on our products and to instead, offering promotional discounts to consumers to increase our pull through rates.
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Cohen And Steers Global Income Builder has a market cap of $552.8 million; its shares were traded at around $10.19 with and P/S ratio of 1.7. The dividend yield of Cohen And Steers Global Income Builder stocks is 6.5%.
Highlight of Business Operations:
(a) Major Customers. For the three months ended September 30, 2012, approximately 72% of total net sales were derived from two customers as compared to approximately 80% of total net sales derived from two customers in the three months ended September 30, 2011. Accounts receivable as of September 30, 2012 from these customers represented approximately 64% of total accounts receivable. The loss of either of these customers would have an adverse affect on the Company s operations. Major customers are those customers who account for more than 10% of net sales.Rent expense for the three months ended September 30, 2012 and 2011 on these leases were $271 and $184 respectively, and are included in both cost of sales and selling and administrative expenses in the accompanying Condensed Consolidated Statements of Operations. As of September 30, 2012 and June 30, 2012, the Company had an outstanding obligation of $784 and $776, respectively, included in accounts payable and long term debt in the accompanying Condensed Consolidated Balance Sheet.
Cost of sales. Cost of sales decreased by $1.2 million to $6.9 million for the three months ended September 30, 2012, as compared to $8.1 million for the three months ended September 30, 2011. Cost of sales increased as a percentage of sales to 81.5% for the three months ended September 30, 2012 as compared to 74.7% for the three months ended September 30, 2011. The decrease in the cost of goods sold amount was primarily the result of decreased sales. The cost of sales as a percentage of sales increased as a result of a greater percentage of sales being derived from our contract manufacturing, which has a higher cost of goods sold percentage (approximately 84%) as compared to the proprietary branded nutraceutical product line (approximately 57%).
Selling and Administrative Expenses. Selling and administrative expenses were $1.2 million for the three months ended September 30, 2012, as compared to $2.1 million for the three months ended September 30, 2011, a decrease of approximately $0.9 million or 44%. As a percentage of sales, net, selling and administrative expenses were 14.1% for the three months ended September 30, 2012 and 19.7% for the prior comparable period.
Our advertising and marketing costs decreased by approximately $0.6 million in the three months ended September 30, 2012 compared to the three months ended September 30, 2011 primarily as a result of a decrease in in-store demonstrations (“demos”) of our products at one of our customer s store locations. As a percentage of sales, our advertising and marketing costs represented 2.5% in the three months ended September 30, 2012 compared to 7.5% in the three months ended September 30, 2011. The decrease in marketing and advertising expenses is a direct result of the decreases in sales of approximately $2.0 million in our branded proprietary nutraceutical products as well as a move away from performing in-store demos on our products and to instead, offering promotional discounts to consumers to increase our pull through rates.
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