Even though Sales lower than 2015 some bright spots in the Earnings Report
The Bad, Sales down 10.6% compared to 2015. Not too surprising considering the company resources were concentrated on the FDA and SEC. Product promotion took a back seat and sales reflect this.
Gross Profit, 2016 GP was 6.1% less than 2015. With Sales down 10.6% this is a positive as BIEL made 4.5% more per unit sold than the previous year. This could have been from lower production costs or higher sales revenue per unit.
General/Admin Cost, 2016 15% lower than 2015. This was achieved even though the Legal/Acct. component saw an increase of 188% compared to 2015, $669k vs $232k. This was due to the FDA/SEC. legal expenses and should be greatly reduced for 2017.
Total Expense, 2016 down 15% over 2015. Again this is a positive as Sales fell only 10.6%.
Loss from Operations, 2016 down 21% from 2015. Another positive when measured against the 10.6% Sales reduction.
IMO the company did an admirable job of controlling costs last year. There has never been much fat in the BIEL operation but it looks like everybody did an admirable job during a trying year of dealing with both the FDA and SEC.
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