Chang Yih Ceramic Joint Stock Company (CHANG YIH CERAMIC) has explained profit difference of quarter 3/2009 and quarter 2/2009 as follows:
* Profit before tax reached VND5,027,375 in quarter 3/2009 and the company lost VND3,044,864,033 in quarter 2/2009 because some reasons:
1. Revenue increased: VND3,730,798,727
2. Cost of goods sold decreased: VND903,899,637
3. Gross profit increased: VND4,634,698,364
4. Financial income decreased: VND2,389,168,492
5. General and administrative expenses increased: VND2,521,570,843
6. Selling expenses decreased: VND3,762,456,013
7. Other profit increased: VND580,076,903
* Revenue increased while cost of goods sold decreased because the company did not hire for processing in quarter 3/2009 and saved main materials for production.
* Financial profit decreased because the interest paid to the parent company from 2009 to 2009 has not been advanced into expenses in the quarter.
* General and administrative expenses increased because the company did not collect the bad receivables from exporting.
* Selling expenses decreased sharply because in the quarter 2/2009 the company discounted and rewarded customers more than other quarters.