Barington/Hilco Acquisition (Barington/Hilco Acquisition) Operating Income : $-2.25 Mil (TTM As of Mar. 2018)

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What is Barington/Hilco Acquisition Operating Income?

Barington/Hilco Acquisition's Operating Income for the three months ended in Mar. 2018 was $-0.06 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2018 was $-2.25 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Barington/Hilco Acquisition's Operating Income for the three months ended in Mar. 2018 was $-0.06 Mil. Barington/Hilco Acquisition's Revenue for the three months ended in Mar. 2018 was $0.00 Mil. Therefore, Barington/Hilco Acquisition's Operating Margin % for the quarter that ended in Mar. 2018 was %.

Barington/Hilco Acquisition's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Barington/Hilco Acquisition's annualized ROC % for the quarter that ended in Mar. 2018 was -1.85%. Barington/Hilco Acquisition's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2018 was %.

Barington/Hilco Acquisition Operating Income Historical Data

The historical data trend for Barington/Hilco Acquisition's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Barington/Hilco Acquisition Operating Income Chart

Barington/Hilco Acquisition Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Operating Income

-0.48

-0.32

-2.30

Barington/Hilco Acquisition Quarterly Data
	Oct14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18
Operating Income	Get a 7-Day Free Trial									-0.10	-0.05	-0.08	-2.06	-0.06

Barington/Hilco Acquisition Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2018 adds up the quarterly data reported by the company within the most recent 12 months, which was $-2.25 Mil.

Barington/Hilco Acquisition (OTCPK:BHAC) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Barington/Hilco Acquisition's annualized ROC % for the quarter that ended in Mar. 2018 is calculated as:

	ROC % (Q: Mar. 2018 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2017 )	+	Invested Capital (Q: Mar. 2018 ))	/ count )
=	-0.244 * ( 1 - 0% )	/	( (15.756	+	10.556)	/ 2 )
=	-0.244	/	13.156
=	-1.85 %

where

	Invested Capital		(Q: Dec. 2017 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	14.85	-	2.159	-	( 0.003	-	max(0, 3.069	-	0.004	+	0.003	))
=	15.756

	Invested Capital		(Q: Mar. 2018 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	9.481	-	2.157	-	( 0.129	-	max(0, 3.367	-	0.135	+	0.129	))
=	10.556

Note: The Operating Income data used here is four times the quarterly (Mar. 2018) data.

2. Joel Greenblatt's definition of Return on Capital:

Barington/Hilco Acquisition's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2018 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2018 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2017		Q: Mar. 2018
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-0.244	/	( ( (0 + max(-2.583, 0))	+	(0 + max(-2.876, 0)) )	/	2 )
=	-0.244	/	( ( 0	+	0 )	/	2 )
=	-0.244	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Dec. 2017 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.001)	-	(2.159	+	0.425	+	4.4408920985006E-16)
=	-2.583

	Working Capital		(Q: Mar. 2018 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.006)	-	(2.157	+	0.725	+	0)
=	-2.876

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2018) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Barington/Hilco Acquisition's Operating Margin % for the quarter that ended in Mar. 2018 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2018 )	/	Revenue (Q: Mar. 2018 )
	=	-0.061	/	0
	=	%

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Barington/Hilco Acquisition Operating Income Related Terms

Thank you for viewing the detailed overview of Barington/Hilco Acquisition's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Barington/Hilco Acquisition (Barington/Hilco Acquisition) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » Barington/Hilco Acquisition Corp (OTCPK:BHAC) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.hilcoglobal.com

Barington/Hilco Acquisition Corp is a blank check company.

Executives

James A Mitarotonda	director, 10 percent owner	888 SEVENTH AVENUE 17TH FL, NEW YORK NY 10019
Robert L Mettler	director	17612 EL VUELO, RANCHO SANTA FE CA 92067
Jeffrey D Nuechterlein	director, officer: Chairman of the Board	1997 ANNAPOLIS EXCHANGE PARKWAY, SUITE 410, ANNAPOLIS MD 21401
Frank R Mori	director
Barington Companies Advisors, Llc	10 percent owner	C/O BARINGTON CAPITAL GROUP, L.P., 888 SEVENTH AVENUE, 17TH FLOOR, NEW YORK NY 10019
Polar Asset Management Partners Inc.	10 percent owner	16 YORK STREET SUITE 2900, TORONTO A6 M5J 0E6
Hilco Trading, Llc	10 percent owner	5 REVERE DRIVE, SUITE 206, NORTHBROOK IL 60062
Jeffrey Bruce Hecktman	director, 10 percent owner	5 REVERE DRIVE, SUITE 206, NORTHBROOK IL 60062
North Pole Capital Master Fund	10 percent owner	C/O POLAR ASSET MANAGEMENT PARTNERS INC., 401 BAY ST., SUITE 1900, PO BOX 19, TORONTO A6 M5H 2Y4

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