Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. UNIVERSAL SECURITY INSTRUMENTS INC (102109) 10-Q published on Feb 19, 2020 at 4:39 pm
Gross Profit Margin. Gross profit margin is calculated as net sales less cost of goods sold expressed as a percentage of net sales. Our gross profit margin was 23.9% and 23.6% of sales for the quarters ended December 31, 2019 and 2018, respectively.
Gross Profit Margin. Gross margins of the Joint Venture for the three month period ended December 31, 2019 decreased to (0.9)% from 13.1% for the 2018 corresponding period. For the nine month period ended December 31, 2019, gross margins were 5.4% compared to 13.8% for the same period of the prior year. Gross margins depend on sales volume of various products, with varying margins. Lower sales and manufacturing production during the December 31, 2019 period do not allow the full absorption of fixed factory costs and negatively impact gross margins. In addition, foreign currency exchange gains and/or losses and changes in inventory reserves impact gross margins.