10-K: DIAMOND RANCH FOODS, LTD., NEW
10-K: DIAMOND RANCH FOODS, LTD., NEW
(EDGAR Online via COMTEX) -- ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
ANALYSIS OF OPERATIONS: 2011 AND 2010 RESULTS
SALES
Our revenues from operations for the year ended March 31, 2011 were $7,162,889 compared to $8,548,888 in 2010 which was generated from the sale of our meat products and services. The decrease was a result of reduction in sales due to overall economic conditions. The decrease was $1,385,999.
COST OF SALES AND GROSS PROFIT
Our cost of sales for the year ended March 31, 2011 was $5,273,182, generating a gross profit of $1,889,707 or (26%).
Our gross profit has increased from 18% from the prior year ended March 31, 2010. Management expects gross profits to increase as revenues increase and the cost of sales decrease. The decrease in costs can be attributed to many factors, including, but not limited to better purchasing methods, better mix of product sales generating higher profits and better management control.
We have operated on the same margins with no changes in the types of products sold or services provided from one period to the next. We attribute our growth to new customers and sales accounts and a higher volume of products being sold through these means. The addition to our customer base was achieved by increased sales efforts made by our management team through standard marketing procedures, such as in-person sales visits and demonstrations and "warm" referrals through existing clientele. Increases in revenue can also be attributed to existing clients, who are responsible for managing multiple hotel and restaurant chains.
GENERAL AND ADMINISTRATIVE
Our payroll expenses for the year ended March 31, 2011 was $912,066, which was an increase of $208,480 over the amount of $703,586 for the year ended March 31, 2010. This increase is attributable to an increase in staffing.
Our factoring expense for the year ended March 31, 2011 was $21,573, which was a decrease of $60,037 from the amount of $81,610 for the year ended March 31, 2010. This decrease is mainly attributable to the change in factoring companies and overall reduction in receivables.
Our rent expense for the year ended March 31, 2011 was $160,338 which was a decrease of $63,185 over the year ended March 31, 2010.
Factoring Accounts Receivable - News
The Company has been meeting its capital requirements through the sale of its Common Stock, Notes Payable, Factoring of Receivables, and Related Party Loans. For the twelve months ended March 31, 2011, the Company's cash provided by operating
With more than 140 offices across North America and over 39 years of experience, IFG provides innovative accounts receivable factoring solutions by offering short-term working capital to growing businesses. Single invoice factoring, or spot factoring,
Portion of the net proceed will used to retire Lyrtech's factored accounts receivable indebtedness with the remaining for general corporate purposes. In March 2008, Lyrtech closed a $1.1 million accounts receivable financing with Finexcorp Inc. On June
Unfortunately, like venture debt, factoring is too often erroneously associated with struggling companies that have no other funding options. Factoring involves selling your accounts receivables for upfront cash, effectively accelerating the collection
In other news, TMCnet reported, “Accounts receivable factoring is an accounts receivable method where a business sells its “accounts receivable” – such as invoices – to a third party often at a discounted price. Aegis Financial Solutions said that when
Accounts Receivable Factoring Provides Companies With Funds For ...
Accounts Receivable Factoring companies offer assistance to small to medium-sized businesses (SMEs) who are in require of funds to pay their past due taxes. A great number of SMEs are nonetheless struggling and are nonetheless unable to collect enough money to pay off their taxes for this year therefore causing these companies to search for option options.
As the tax deadline get closer throughout the month of April, SMEs who just realized that they nonetheless owe the government money frantically search for solution. Nonetheless, it doesn’t take forever to procedure accounts receivable factoring. If they utilized it, they could’ve paid their dues before the deadline and could’ve avoided feasible penalties and interest rates.
As soon as the factoring business has done their due diligence to make sure the work was satisfactorily completed, your invoice will probably be paid by the factor in as little as 24 to 48 hours. It is that easy and also the business that hired your services now owes the factoring business money and can be paid in 30 to 60 days.
Only 1 accounts receivable factoring business offers “single invoice factoring”, which permits SMEs to factor 1 to two invoices at 1 point in time. This makes it extremely easy to obtain the money they require with out a lengthy and aggravating lending procedure. With no minimums, maximums, long-term commitments or lengthy application procedure, factoring offers an superb supply of money flow.
Private label factoring options include export factoring, providing factoring services for companies who export from the United states and Canada; P.O. Funding to finance purchase orders when a business receives a purchase order and requirements to purchase supplies to fulfill the order; and Inventory Financing, a solution promoting a company’s growth by funding them when they must expand and purchase inventory.
Accounts receivable factoring companies usually don’t anticipate to purchase 100 percent of a company’s receivables, and you will find no minimum or maximum sales volume requirements. The company’s professional rates might vary from client to client simply because each client require is unique. The program gives the client the freedom to select the invoices they wish to be factored, which in turn permits the client to keep most of their money, reduce the fees they’ve to pay, and at the same time guarantee the consistency of their money flow.
I FIND FUNDING: NEED CASH FOR ACCOUNTS RECEIVABLE FACTORING AND PURCHASE ORDER FINANCING ?... 
An Insight Into Accounts Receivable Factoring Costs 
An Insight Into Accounts Receivable Factoring Costs 
An Insight Into Accounts Receivable Factoring Costs 
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