Avid Bioservices (Avid Bioservices) Operating Income : $-16.6 Mil (TTM As of Jan. 2024)

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What is Avid Bioservices Operating Income?

Avid Bioservices's Operating Income for the three months ended in Jan. 2024 was $-4.0 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jan. 2024 was $-16.6 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Avid Bioservices's Operating Income for the three months ended in Jan. 2024 was $-4.0 Mil. Avid Bioservices's Revenue for the three months ended in Jan. 2024 was $33.8 Mil. Therefore, Avid Bioservices's Operating Margin % for the quarter that ended in Jan. 2024 was -11.83%.

Avid Bioservices'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. Avid Bioservices's annualized ROC % for the quarter that ended in Jan. 2024 was -2.84%. Avid Bioservices's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2024 was -10.79%.

Avid Bioservices Operating Income Historical Data

The historical data trend for Avid Bioservices'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.

Avid Bioservices Operating Income Chart

Avid Bioservices Annual Data

Trend

Apr14

Apr15

Apr16

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Apr23

Operating Income

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-5.62

-10.59

12.24

15.42

3.60

Avid Bioservices Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Operating Income	Get a 7-Day Free Trial															2.72	0.83	-2.16	-11.22	-4.00

Avid Bioservices 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 Jan. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-16.6 Mil.

Avid Bioservices (NAS:CDMO) Operating Income Explanation

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

Avid Bioservices's annualized ROC % for the quarter that ended in Jan. 2024 is calculated as:

	ROC % (Q: Jan. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Oct. 2023 )	+	Invested Capital (Q: Jan. 2024 ))	/ count )
=	-15.996 * ( 1 - 14.91% )	/	( (404.59	+	555.011)	/ 2 )
=	-13.6109964	/	479.8005
=	-2.84 %

where

	Invested Capital		(Q: Oct. 2023 )
=	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	))
=	454.642	-	22.784	-	( 31.424	-	max(0, 76.937	-	104.205	+	31.424	))
=	404.59

	Invested Capital		(Q: Jan. 2024 )
=	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	))
=	455.227	-	19.514	-	( 30.708	-	max(0, 222.887	-	103.589	+	30.708	))
=	555.011

Note: The Operating Income data used here is four times the quarterly (Jan. 2024) data.

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

Avid Bioservices's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jan. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Oct. 2023		Q: Jan. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-24.732	/	( ( (229.147 + max(-13.74, 0))	+	(229.085 + max(-19.472, 0)) )	/	2 )
=	-24.732	/	( ( 229.147	+	229.085 )	/	2 )
=	-24.732	/	229.116
=	-10.79 %

where Working Capital is:

	Working Capital		(Q: Oct. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(13.379	+	38.583	+	9.972)	-	(22.784	+	46.437	+	6.453)
=	-13.74

	Working Capital		(Q: Jan. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(18.538	+	34.568	+	7.578)	-	(19.514	+	52.945	+	7.697)
=	-19.472

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jan. 2024) EBIT data.

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

Avid Bioservices's Operating Margin % for the quarter that ended in Jan. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Jan. 2024 )	/	Revenue (Q: Jan. 2024 )
	=	-3.999	/	33.815
	=	-11.83 %

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.

Avid Bioservices Operating Income Related Terms

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Avid Bioservices (Avid Bioservices) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Avid Bioservices Inc (NAS:CDMO) » Definitions » Operating Income

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TEHN:Germany

Address

14191 Myford Road, Tustin, CA, USA, 92780

Website

https://www.avidbio.com

Avid Bioservices Inc is a clinical-stage biopharmaceutical company focused on the development and Current Good Manufacturing Practices (CGMP) of biopharmaceutical products derived from mammalian cell culture. The company provides a comprehensive range of process development and high-quality CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries.

Executives

Matthew R. Kwietniak	officer: Chief Commercial Officer	14191 MYFORD ROAD, TUSTIN CA 92780
Richard A. Richieri	officer: Chief Operations Officer	14191 MYFORD ROAD, TUSTIN CA 92780
Daniel Ryan Hart	officer: Chief Financial Officer	2642 MICHELLE DR., SUITE 200, TUSTIN CA 62780
Mark R Ziebell	officer: V.P., General Counsel	14282 FRANKLIN AVENUE, TUSTIN CA 92780
Richard B Hancock	director	14282 FRANKLIN AVE., TUSTIN CA 92780
Joseph Carleone	director	3883 HOWARD HUGHES PKWY, SUITE 700, LAS VEGAS NV 89169
Nicholas Stewart Green	director, officer: President & CEO	2642 MICHELLE DRIVE, SUITE 200, TUSTIN CA 92780
Gregory Sargen	director
Esther M. Alegria	director	2642 MICHELLE DRIVE, SUITE 200, TUSTIN CA 92780
Mark R Bamforth	director	500 KENDALL ST., CAMBRIDGE MA 02142
Jeanne Thoma	director	C/O ANI PHARMACEUTICALS, INC., 210 MAIN STREET WEST, BAUDETTE MN 56623
Patrick D Walsh	director	14282 FRANKLIN AVE., TUSTIN CA 92780
Catherine J Mackey	director	3595 JOHN HOPKINS COURT, SAN DIEGO CA 92121
Joel Mccomb	director	9885 TOWNE CENTRE DRIVE, SAN DIEGO CA 92121
Stephen Michael Hedberg	officer: Principal Fin. & Acct. Officer	2642 MICHELLE DRIVE, SUITE 200, TUSTIN CA 92780