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Addvantage Technologies Group Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Inventory Valuation For our Telco segment, our position in the telecommunications industry requires us to carry large inventory quantities relative to annual sales, but it also allows us to realize higher gross profit margins on our sales.
If actual market conditions differ from those projected by management, this could have a material impact on our gross margin and inventory balances based on additional write-downs to net realizable value or a benefit from inventories previously written down.
Table of Contents Consolidated gross profit was $8.5 million, or 33% gross margin for the three months ended September 30, 2022, compared to gross profit of $5.0 million, or 25% gross margin for the three months ended September 30, 2021, an increase of $3.5 million.
The improvement in margin percent was due to strong demand in our Telco segment fueled by global supply issues, along with expansion of our offerings to both wireless and optical network carriers to support both wireless and broadband connectivity for optical and IP transport.
Purchasing and receiving costs, inspection costs, warehousing costs, internal transfer costs and other inventory expenditures are included in operating expenses.
Adjusted EBITDA as presented also...Read more
The offer and sale of...Read more
The increased gross profit was...Read more
The increase was related to...Read more
The increase was related to...Read more
Gross profit was $16.1 million...Read more
Consolidated operating expenses increased $0.3...Read more
SG&A expense increased $0.1 million,...Read more
Operating expenses were $2.3 million,...Read more
The growth in revenues over...Read more
Consolidated selling, general and administrative...Read more
Adjusted EBITDA is presented below...Read more
Cash Flows Used in Financing...Read more
The increase in sales was...Read more
Non-GAAP Financial Measure Adjusted EBITDA...Read more
The increase in sales was...Read more
The increase in gross profit...Read more
The increase in gross profit...Read more
Intangibles Intangible assets that have...Read more
The decrease in the gross...Read more
Comparison of Results of Operations...Read more
The increase in revenues over...Read more
Results of Operations Comparison of...Read more
Special Note on Forward-Looking Statements...Read more
We entered into an Equity...Read more
The increase in SG&A relates...Read more
The increase in SG&A relates...Read more
Telco Sales for the Telco...Read more
Telco Sales for the Telco...Read more
The shelf registration statement will...Read more
Financial Statements, Disclosures and Schedules
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Addvantage Technologies Group Inc provided additional information to their SEC Filing as exhibits
Ticker: AEY
CIK: 874292
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-22-029846
Submitted to the SEC: Mon Nov 14 2022 4:21:52 PM EST
Accepted by the SEC: Mon Nov 14 2022
Period: Friday, September 30, 2022
Industry: Wholesale Durable Goods