income taxes – DNZ Mladi http://www.dnz-mladi.com/ Fri, 18 Mar 2022 11:00:26 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.dnz-mladi.com/wp-content/uploads/2021/11/icon-13-120x120.png income taxes – DNZ Mladi http://www.dnz-mladi.com/ 32 32 Should you move to a state with no income tax? – Forbes Advisor https://www.dnz-mladi.com/should-you-move-to-a-state-with-no-income-tax-forbes-advisor/ Fri, 18 Mar 2022 11:00:26 +0000 https://www.dnz-mladi.com/should-you-move-to-a-state-with-no-income-tax-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. The advantage of moving to a state with no income tax is quite simple: you don’t have to pay state income tax on the money you earn. Currently, seven states (Alaska, Florida, […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

The advantage of moving to a state with no income tax is quite simple: you don’t have to pay state income tax on the money you earn. Currently, seven states (Alaska, Florida, Nevada, South Dakota, Tennessee, Texas and Wyoming) do not levy personal income tax. Two others (New Hampshire and Washington) impose taxes only on certain types of income.

So can moving to a tax-free state help you keep more of your hard-earned money? Or will you end up paying in different ways that negate the benefit? Here’s what you need to know.

States without income tax

Most US states levy income taxes on people who live or earn money in the state. However, there are a few exceptions. As of 2022, nine states have no personal income tax or tax only certain types of investment income. These states are:

  • Alaska
  • Florida
  • Nevada
  • New Hampshire
  • South Dakota
  • Tennessee
  • Texas
  • Washington
  • Wyoming

New Hampshire Interest and Dividends levies a 5% tax on interest and dividend income. However, this tax should be phased out. The rate drops to 4% in 2024, 3% in 2025, 2% in 2026, 1% in 2027. After that, New Hampshire will repeal its interest and dividend tax entirely.

Since January 1, 2022, Washington has taxed capital gains income of high earners. The state imposes a 7% tax on the sale or exchange of long-term capital assets, such as stocks, bonds, business interests, and other investments. The tax only applies to long-term capital gains over $250,000 per year. The first payments are due no later than April 18, 2023.

Is it beneficial to move to a state with no income tax?

Yes and no. The more you earn and the higher the tax rate in your state, the more you can potentially save by moving to an income tax exempt state.

However, moving to a state with no income tax is not always advantageous. Every state needs money to fund public schools, build and maintain roads, pay state employees, and fund other projects and programs. While the state does not receive this money through state income taxes, it generally does collect it from other taxes, such as property taxes or sales taxes.

For example, let’s say you live in Massachusetts, which has a flat tax rate of 5%, and your taxable income for the year is $120,000. This would result in a tax bill of $6,000. If you moved to Florida, which has no state income tax, you could avoid this state income tax.

Read more: Even if you don’t usually do it, file a tax return this year

Here is another example, Nevada has no personal income tax. However, it has a state sales tax rate of 6.85%, which places the state 7th on the list of US states with the highest sales tax rates.

Additionally, cities and counties may add their own local sales tax to this rate. In Nevada, the average local tax adds an additional 1.38% to the state sales tax, for a combined rate of 8.23%. In Clark County, Nevada, where Las Vegas is located, the county adds an additional 1.53%, for a combined rate of 8.38%.

Nevada’s economy relies heavily on tourism, so visitors pay a large percentage of Nevada sales tax revenue. Yet, each time a Nevada resident purchases furniture, appliances, a motor vehicle, or other property, state and local sales taxes increase the final purchase price by approximately 8%.

Similarly, Texas has no state income tax. But it is one of the most expensive states to live in when it comes to property taxes. According to the Tax Foundation, Texas homeowners pay an average of 1.60% of their home’s value in property taxes. On a house valued at $300,000, that means $4,800 in property taxes per year.

Business owners may find it difficult to avoid income taxes when moving out of state. This is because most states that levy a personal income tax apply it to all income that comes from the state, whether you live there or not.

Read more: The best tax software of 2022 for the self-employed

For example, if you own a business based in California, crossing the border into Nevada will not necessarily result in a massive increase in your tax liability. California taxes all California source income. So even if you are not a resident of the state, you will need to file a non-resident tax return and pay income taxes there.

Moving to a low-tax state can cost you dearly

Of course, taxes aren’t the only factor that can affect your decision to move. If you’re moving for a new job, to be closer to family, or for a better quality of life, taxes may just be a side effect of the move.

However, if your decision to move is at least partially driven by a desire to escape high income tax bills, it’s important to compare all living costs before you jump in.

Other factors that can affect the cost of living in a state include housing, food, transportation, child care, health care, auto insurance, and utilities, to name a few. name a few.

You can use a cost of living calculator to compare overall prices between different cities and states to see how much more or less you should pay to live there.

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What is net income? Definition, calculation and example https://www.dnz-mladi.com/what-is-net-income-definition-calculation-and-example/ Fri, 11 Mar 2022 19:26:19 +0000 https://www.dnz-mladi.com/what-is-net-income-definition-calculation-and-example/ Investors use net income as part of their decision to invest in a company’s stock. Cloth Contents What is net income? Net income is the amount of money left over from a business’s revenue after expenses and tax payments have been made during a period. It is an essential measure for understanding the financial strength […]]]>

Investors use net income as part of their decision to invest in a company’s stock.

What is net income?

Net income is the amount of money left over from a business’s revenue after expenses and tax payments have been made during a period. It is an essential measure for understanding the financial strength of a company. Investors and analysts look at a company’s net income to determine its level of profitability. For example, net income to sales – a measure known as net income margin or net profit margin – would indicate a company’s ability to generate profits. If expenses exceed income, it would be a net loss – or just a loss – for the period.

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New tax report arrives as Wisconsin plans to lower income tax | Wisconsin https://www.dnz-mladi.com/new-tax-report-arrives-as-wisconsin-plans-to-lower-income-tax-wisconsin/ Tue, 15 Feb 2022 19:30:00 +0000 https://www.dnz-mladi.com/new-tax-report-arrives-as-wisconsin-plans-to-lower-income-tax-wisconsin/ (The Center Square) — The latest U.S. tax map could add to the debate over whether Wisconsin should end or reduce its personal income tax. The Tax Foundation new report examines income tax rates across the country, and Wisconsin is one of the highest taxed states in the Midwest. The Tax Foundation notes that Wisconsin’s […]]]>

(The Center Square) — The latest U.S. tax map could add to the debate over whether Wisconsin should end or reduce its personal income tax.

The Tax Foundation new report examines income tax rates across the country, and Wisconsin is one of the highest taxed states in the Midwest.

The Tax Foundation notes that Wisconsin’s tax rate of 7.65% is the third highest in the Midwest, behind Minnesota and Iowa; and it is the third highest among all Great Lakes states. Only New York and Minnesota are higher on this list.

Among our neighbors, Illinois and Michigan have lower income tax rates than Wisconsin.

“I think a lot of Wisconsin residents would be surprised to learn that Illinois has a flat and much lower tax rate. If Wisconsin wants to attract businesses and residents from high-tax Minnesota and the highly regulated Illinois, policymakers should start by significantly reducing our tax burden,” said Michael Jahr of the Badger Institute at The Center Square.

The report comes as Republicans on Capitol Hill in Wisconsin push to lower and ultimately eliminate Wiscosin’s personal income tax.

Jahr said the Badger Institute worked with the Tax Foundation on a range of tax reform options it would make Wisconsin more competitive.

“A fair and growth-friendly tax structure, combined with Wisconsin’s overall fiscal health, would make Badger State an even more attractive place to do business. Whether it’s flattening, eliminating or better balancing our various taxes, the need for reform is pressing,” Jahr said. “People consider things like taxes when deciding where to live or set up a business. States with no income tax clearly have an advantage, as evidenced by the population and business growth they have experienced in recent years.

There are seven states with no state income tax and 11 others that have flat income taxes. Wisconsin is not on either list.

The Tax Foundation report says income taxes make up a significant portion of state revenue across the country, accounting for about 36% of all funds states receive. In Wisconsin, this number is closer to 50%.

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Portland-area high earners face confusion over new personal income taxes https://www.dnz-mladi.com/portland-area-high-earners-face-confusion-over-new-personal-income-taxes/ Sat, 29 Jan 2022 07:47:00 +0000 https://www.dnz-mladi.com/portland-area-high-earners-face-confusion-over-new-personal-income-taxes/ The new taxes will impact people earning at least $125,000 or $200,000 as a couple. PORTLAND, Ore. — As we look to tax season, those earning higher salaries in the Portland metro area are gearing up to pay two new personal income taxes. These are the Metro Supportive Housing Services Tax and the Multnomah County […]]]>

The new taxes will impact people earning at least $125,000 or $200,000 as a couple.

PORTLAND, Ore. — As we look to tax season, those earning higher salaries in the Portland metro area are gearing up to pay two new personal income taxes. These are the Metro Supportive Housing Services Tax and the Multnomah County All-Inclusive Preschool Income Tax.

“I got a lot of phone calls this year saying, what are these new taxes and what am I supposed to do?” said Richard Sohler, general counsel for Sohler Whitman. “[The taxes] apply to different jurisdictions; one is Metro which includes Multnomah, parts of Clackamas and Washington counties, and the other is purely for Multnomah County.

Sohler points out that depending on where you live, you might only pay one or both of the taxes.

The other deciding factor is income. Both taxes only apply to those earning at least $125,000 per year as an individual or $200,000 if filing jointly. Taxes will be applied to income earned above these amounts. Tax rates start at 1.5% for the Supportive Housing Services Tax and 1% for the Head Start Tax for All.

RELATED: Yes, You’re More Likely to Get Your Refund Faster If You File Your 2021 Taxes Electronically

Voters approved both income taxes in 2020. In 2021, employers were not required to withhold income for these taxes, but they will be in 2022.

“So really, taxpayers inside Metro and/or Multnomah County need to take their time fetching because you might inadvertently miss that you owe that tax.”

Those who need to pay one or both of the new personal income taxes can do so through the City of Portland Revenue Division website. Once taxpayers get past any additional confusion that may create, they will find everything they need on the site, including tools that will calculate what they owe. The site offers options for downloading forms to pay by mail or online.

“So whether you live in Clackamas, Washington County, or anywhere else, this City of Portland website is the resource for anyone concerned with Metro Tax or Multnomah County Tax,” Sohler said.

Again, starting this month, employers will be required to withhold income for these taxes for employees to whom they apply. If employees want to opt out of these deductions, they can file a request to do so.

“The most important thing for employers is to speak to human resources or their payroll service provider to ensure they are aware of the change and that the information is passed on to the appropriate employees.”

RELATED: Yes, You Need to Claim the Child Tax Credit on Your 2021 Return, Even If You Received Advance Payments

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Teton County’s highest income in the country in 2019 | Wyoming News https://www.dnz-mladi.com/teton-countys-highest-income-in-the-country-in-2019-wyoming-news/ Wed, 12 Jan 2022 19:20:00 +0000 https://www.dnz-mladi.com/teton-countys-highest-income-in-the-country-in-2019-wyoming-news/ JACKSON – “Those are crazy numbers.” This is how local economic analyst and Jackson city councilor Jonathan Schechter describes Teton County’s income figures from IRS tax return data. What makes the numbers so “crazy”? Consider this: According to data compiled by Schechter based on 2019 IRS tax returns – the most recent figures available – […]]]>

JACKSON – “Those are crazy numbers.”

This is how local economic analyst and Jackson city councilor Jonathan Schechter describes Teton County’s income figures from IRS tax return data.

What makes the numbers so “crazy”?

Consider this: According to data compiled by Schechter based on 2019 IRS tax returns – the most recent figures available – the average adjusted gross income for Teton County was $ 312,442. Not only was this the highest average AGI in the country for that year, but it was also the first time a county eclipsed $ 300,000 in average AGI in history.

It was also almost exactly $ 100,000 more than the county that came in at No. 2 nationally, New York County, New York, which is essentially the very wealthy Manhattan Island. New York County had an average AGI of $ 212,534, Schechter said.

As if those numbers weren’t staggering enough, on the Teton County average AGI of $ 312,442 in 2019, the “average non-salary income per return alone was $ 235,186, 11% higher than New York [County]total income figure of, ”Schechter wrote in his most recent CoThrive newsletter.

In other words, 75% of Teton County’s income comes from investments and other non-salary sources, compared to a national average of 31%.

Further illustrating the disparity between Teton County and counties across the country, Schechter said in an interview that the nearly $ 100,000 gap between Teton County at No. 1 and New York County at No. # 2 is slightly greater than the gap between New York County and # 63, Delaware County, Ohio, a wealthy suburb outside of Columbus. Meanwhile, the gap between Delaware County and Rock County, Nebraska, in last place, ranking at No. 3,142, is slightly less than that of $ 91,777, Schechter said, adding ” it’s pretty incredible ”.

And Schechter notes that these are figures for 2019 that do not take into account the ‘COVID migration’ of 2020 and 2021, which has seen even more wealth settle in Jackson Hole and will surely push those numbers up towards the sky.

“Bottom line: if you feel like things aren’t just crazy, but crazy too, there’s a good reason for that,” Schechter said.

And it may get even crazier. Between 2018 and 2019, the average Teton County AGI per return increased by $ 50,942, or 19.5%. While tax return figures for 2020 and 2021 are not yet available, Schechter said it’s a safe bet those numbers would reflect a fair amount of additional wealth having moved into the valley.

“It’s a rough rule of thumb, but between about 10% and 15% of our community rotates each year – probably closer to 10%,” Schechter told News & Guide. “But the number of people who settle here and start claiming residency for the 2020 tax year and then the 2021 tax year, these are people who have an exceptional heritage. … I tend to be reluctant to talk unless it’s something that I feel confident to say or that I’m confident enough to be right, and I’m confident that what we see in 2020 will be good beyond 2019 and 2021 [will be beyond 2020]. “

So what does all this wealth mean for Teton County, and even the state of Wyoming?

Locally, this offers both unique advantages and challenges, Schechter said. For example, on the bright side, Teton County tax return data shows a large amount of charitable donations. In fact, he wrote, “The 2019 $ 33,710 was the highest per return contribution figure on record, 72% more than Teton County’s 2015 figure of $ 19,646 (the previous record). “

Sadly, it looks like a large chunk of the $ 501 million in charitable donations from Teton County residents in 2019 goes outside the community, based on numbers reported by local nonprofits.

“It can’t be proven, but if we had a ton of this income remaining in the county, our nonprofits would have a lot more money than they claim,” Schechter said.

However, he added that some of Teton County’s new residents may be looking to make their mark locally, as evidenced by the record-breaking amount – over $ 19.7 million – raised by the annual Old Bill’s Fun Run. last year. Laurie Andrews, director of the Community Foundation of Jackson Hole, which puts Old Bill’s, could not be reached for comment on Tuesday.

On the negative side of the ledger, he said, is what he calls the “eco / eco dilemma,” where the first “eco” refers to economic development and the second to ecosystem health.

“The dilemma lies in the sad fact that, since the dawn of the Industrial Revolution 250 years ago, every place on Earth that has developed a successful industrial or post-industrial economy has, in the process, compromised the health of its ecosystem. Schechter wrote, noting that such an outcome runs counter to the county’s comprehensive plan goal of “preserving and protecting the region’s ecosystem.”

Schechter hopes Jackson Hole will be able to be successful in preserving ecosystems, even if there is no plan to achieve it in the past 250 years. City council recently approved the creation of an Ecosystem Stewardship Administrator position, and Schechter said he would like to see whoever fills that role create metrics or a model by which the city can accurately assess. success, although he admits that it is not an easy task.

“Our situation is complicated by the fact that we are trying to do something that no one has done in 250 years. So we are special, ”he told News & Guide. “But we are not unique in the fact that we are seeing incredible problems with affordable housing, incredible problems with transportation, incredible problems of wealth inequality.

“We’re unique in that we have all of this to try to cope with, and we’re also trying to preserve and protect the region’s ecosystem. “

When asked if the city and county were ‘flying blind’ trying to navigate the ‘eco / eco dilemma’ without a master plan or a firm plan, Schechter used his own father’s experience as a metaphor . His father was a pilot in the Korean War and was bombing North Korea when a shell exploded in his face, blinding him. In and out of consciousness and blinded, his father was scoffed at and managed to land the plane.

Comparing his father’s experience of literally flying blind to the leaders of Jackson Hole preserving the ecosystem without a roadmap, Schechter said, “It is possible. Even if you do something that seems as metaphorically impossible as blind stealing, I’m here to tell you that I wouldn’t be here today if my dad hadn’t done just that.

Statewide, Teton County’s wealth derives little benefit, according to Wenlin Liu, chief economist in the Wyoming Economic Analysis Division.

The reason is that Wyoming has no income tax. Liu, who noted that Teton County was also “No. 1 for years’ of personal income per capita in a calculation by the US Bureau of Economic Analysis, mentioned other initiatives that have been considered by the Legislature over the years, some of which have been put forward by lawmakers. local. Among them is the Real Estate Transfer Tax – which was unsuccessfully advanced by State Representative Andy Schwartz in the last two legislative sessions and is now championed by Representative Mike Yin, who has led it through of the joint committee on income – and taxes on income above a certain threshold.

Schechter shared some of Liu’s points, saying the two most obvious ways to profit from wealth would be a tax on real estate transfers, due to people moving here, and an income tax.

Liu, who also acknowledged the hardship that soaring house prices in Teton County are creating for the working class and their ability to stay in the area, said he was not holding his breath on a transfer tax. real estate or on any iteration of an income tax.

“It’s probably not immediate,” Liu said. “But that seems to be the case with any tax change. It will take many years of talking back and forth for this to be successful. “

So, Schechter said, meanwhile: “We have no direct way of profiting from wealth. Wealth can take advantage of us, but we have no way of taking advantage of it. This is a one-way street.

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Catching up tax on net income in fiscal year 22 to Rs 7.4 trn, Rajya Sabha informed https://www.dnz-mladi.com/catching-up-tax-on-net-income-in-fiscal-year-22-to-rs-7-4-trn-rajya-sabha-informed/ Tue, 14 Dec 2021 19:24:00 +0000 https://www.dnz-mladi.com/catching-up-tax-on-net-income-in-fiscal-year-22-to-rs-7-4-trn-rajya-sabha-informed/ [ad_1] The Centre’s net tax revenue from April to December 7 stood at Rs 7.39 trillion, Minister of State (MoS) for Finance Pankaj Chaudhary told the Rajya Sabha on Tuesday. This includes Rs 3.63 trillion in corporate taxes, Rs 3.61 trillion in personal income tax and Rs 15,375 crore in other income taxes including the […]]]>


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The Centre’s net tax revenue from April to December 7 stood at Rs 7.39 trillion, Minister of State (MoS) for Finance Pankaj Chaudhary told the Rajya Sabha on Tuesday.

This includes Rs 3.63 trillion in corporate taxes, Rs 3.61 trillion in personal income tax and Rs 15,375 crore in other income taxes including the securities transaction tax. (STT). In a written response, the Defense Ministry said net income tax collections in fiscal year 21, affected by the lockdown, amounted to Rs. 45 trillion. Collections during the pre-pandemic year (FY20) were Rs 10.51 billion. In FY19, the cleanup was 11.38 trillion rupees.

With almost four months remaining to the end of fiscal year, collections through December 7 represented almost 80 percent of the full year collections of FY21 and 70 percent of FY20. therefore shows encouraging signs of recovery.

Budget officials are convinced that the budgeted goal of collecting net of taxes (direct and indirect) of Rs 15.45 trillion will be exceeded. Gross goods and services tax (gross GST) collections for November stood at Rs 1.32 trillion, the second highest not only this year, but since the introduction of the national tax. According to another response from Rajya Sabha’s Ministry of Finance, the total gross GST collections for April-November amounted to Rs 7.02 trillion, against Rs 8.66 trillion for the whole of FY21 and Rs 9.44 trillion for FY20.

However, despite encouraging tax revenues, some fear that the fiscal deficit target of 6.8 percent of GDP for the year will still not be met. This is due to higher than expected spending due to the higher burden of fertilizer subsidies, the expansion of the free food program, measures announced to stimulate growth, and additional spending on the purchase of vaccines. Calculations on the back of the envelope show that the additional spending for the year could already exceed 2.5 trillion rupees. Some fear that the disinvestment target of Rs 1.75 trillion will not be reached.

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Tax research carried out on two promoters based in Ludhiana, Real Estate News, ET RealEstate https://www.dnz-mladi.com/tax-research-carried-out-on-two-promoters-based-in-ludhiana-real-estate-news-et-realestate/ Sat, 27 Nov 2021 13:00:00 +0000 https://www.dnz-mladi.com/tax-research-carried-out-on-two-promoters-based-in-ludhiana-real-estate-news-et-realestate/ [ad_1] NEW DELHI: The Department of Income Taxes carried out search and seizure operations on two major real estate developers in Ludhiana, Punjab. Thus, the searches were carried out on November 16 in around forty premises in Ludhiana. “The main conclusion emanating from these search and seizure operations by the two groups concerns the receipt […]]]>


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NEW DELHI: The Department of Income Taxes carried out search and seizure operations on two major real estate developers in Ludhiana, Punjab.

Thus, the searches were carried out on November 16 in around forty premises in Ludhiana.

“The main conclusion emanating from these search and seizure operations by the two groups concerns the receipt of unrecorded cash by these groups through real estate transactions on equity,” the finance ministry said.

“During the search process, documentary evidence of the nature of a ‘sales agreement’ (commonly known as ‘Biyana’ in local jargon) was found and seized for some properties. “

According to the ministry, these documents indicate that the “contract of sale” for the plots was executed at a much higher amount or rate than the consideration disclosed in the registered deed of sale for the plot.

In addition, the ministry pointed out that the offending documents such as “loose-leaf, excel-sheets” showing the calculation of the receipt of money from certain real estate transactions, software data, discussions from people’s cell phones. concerned, etc. were also recovered.

“A preliminary analysis of this evidence clearly indicates the receipt of unrecorded cash through real estate cash transactions. In addition, some other corroborating evidence supporting the receipt of cash in cash has also been gathered.”

In addition, investigations revealed that unrecorded cash expenses were incurred for the construction of the dwelling house of one of the key people.

“In one of the groups, breaches of the withholding tax provisions were detected with regard to the payments made to the sellers of the land, etc.

“The search resulted in the seizure of unrecorded cash of approximately Rs 2 crore in addition to foreign currency, and unexplained jewelry of approximately Rs 2.30 crore.”

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The Buckle, Inc. Reports Third Quarter Net Income | Business https://www.dnz-mladi.com/the-buckle-inc-reports-third-quarter-net-income-business/ Fri, 19 Nov 2021 11:51:49 +0000 https://www.dnz-mladi.com/the-buckle-inc-reports-third-quarter-net-income-business/ [ad_1] KEARNEY, Neb – (BUSINESS WIRE) – November 19, 2021– The Buckle, Inc. (NYSE: BKE) today announced that net income for the fiscal quarter ended October 30, 2021 was $ 62.2 million, or $ 1.27 per share ($ 1.26 per share on a diluted basis). Net sales for the 13-week fiscal quarter ended October 30, […]]]>


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KEARNEY, Neb – (BUSINESS WIRE) – November 19, 2021–

The Buckle, Inc. (NYSE: BKE) today announced that net income for the fiscal quarter ended October 30, 2021 was $ 62.2 million, or $ 1.27 per share ($ 1.26 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended October 30, 2021 increased 27.3% to $ 319.4 million from net sales of $ 251.0 million for the 13-week fiscal quarter of the prior year ended October 31, 2020. Comparable store net sales for the 13 weeks the period ended October 30, 2021 increased by 27.3% compared to net same store sales for the 13 weeks ended October 31 October 2020. Online sales increased 9.0% to $ 50.5 million for the 13-week period ended October 30, 2021, compared to net sales of $ 46.4 million for the period. 13 weeks ended October 31, 2020.

Net sales for the 39-week fiscal year ended October 30, 2021 increased 56.9% to $ 913.7 million from net sales of $ 582.4 million for the prior 39-week fiscal year ended on October 31, 2020. Comparable store net sales for the 39 weeks period ended October 30, 2021 increased 56.7% compared to comparable store net sales for the 39 week period ended October 31, 2020. Sales in line increased 18.7% to $ 147.7 million for the 39-week period ended October 30, 2021, compared to net sales of $ 124.4 million for the 39-week period ended October 31, 2020 .

Net income for the third quarter of fiscal 2021 was $ 62.2 million, or $ 1.27 per share ($ 1.26 per share on a diluted basis), compared to net income of 41.6 million dollars, or $ 0.85 per share ($ 0.85 per share on a diluted basis) for the third quarter of fiscal 2020.

Net income for the 39-week fiscal year ended October 30, 2021 was $ 170.9 million, or $ 3.49 per share ($ 3.46 per share on a diluted basis), compared to a net income of $ 64.5 million, or $ 1.32 per share ($ 1.32 per share on a diluted basis) for the 39-week period ended October 31, 2020.

Management will host a conference call at 10 am EST today to discuss the results for the quarter. To participate in the call, please call (844) 291-6362 for domestic calls or (234) 720-6995 for international calls and reference conference code 3631906. A replay of the call will be available during a period of time. two week period from today. at 1 p.m. EST by calling (866) 207-1041 for domestic calls or (402) 970-0847 for international calls and entering conference code 6269408.

About the loop

Offering a unique blend of high quality on-trend clothing, accessories and footwear, Buckle is aimed at fashion-conscious young men and women. Known as a denim destination, each store offers a wide selection of fits, styles and finishes from major denim brands, including the company’s exclusive brand, BKE. Based in Kearney, Nebraska, Buckle currently operates 441 retail stores in 42 states. At the end of the fiscal quarter, it operated 441 stores in 42 states, compared to 446 stores in 42 states at the end of the third quarter of fiscal 2020 .

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: All forward-looking statements made by the Company involve significant risks and uncertainties and are subject to change based on factors which may be beyond the control of the Company. . Accordingly, the Company’s future performance and financial results may differ materially from those expressed or implied in such forward-looking statements. These factors include, without limitation, those described in documents filed by the Company with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, even if experience or future changes clearly indicate that the projected results expressed or implied will not be achieved.

Note: Press releases and other information about The Buckle, Inc. can be found at www.buckle.com on the Internet.

Financial tables to follow

LA BOUCLE, INC.

CONSOLIDATED INCOME STATEMENTS

(Amounts in thousands, except amounts per share)

(Unaudited)

Thirteen Weeks Completed

Thirty-nine weeks completed

October 30
2021

October 31,
2020

October 30
2021

October 31,
2020

SALES, net of returns and indemnities

$

319,432

$

251,005

$

913 677

$

582,443

COST OF SALES (including purchase, distribution and occupancy costs)

158,366

134,055

463,039

345,286

Gross profit

161,066

116,950

450 638

237,157

OPERATING COSTS :

Sale

67,771

52,894

190,827

124 655

general and administrative

11,080

9 930

33 912

29,026

78,851

62 824

224,739

153,681

REVENUE FROM OPERATIONS

82 215

54,126

225,899

83,476

OTHER REVENUES, net

192

1,020

465

1,998

INCOME BEFORE TAXES

82,407

55 146

226,364

85,474

INCOME TAX CHARGE

20 190

13,511

55,459

20,941

NET REVENUE

$

62,217

$

41 635

$

170,905

$

64,533

EARNINGS PER SHARE:

Basic

$

1.27

$

0.85

$

3.49

$

1.32

Diluted

$

1.26

$

0.85

$

3.46

$

1.32

Core weighted average stocks

48 946

48,714

48 946

48,718

Diluted weighted average equities

49 362

48,987

49 338

48 941

LA BOUCLE, INC.

CONSOLIDATED RESULTS

(Amounts in thousands except for amounts per share and per share)

(Unaudited)

ASSETS

October 30
2021

January 30
2021 (1)

October 31,
2020

CURRENT ASSETS:

Cash and cash equivalents

$

468 733

$

318 789

$

331 923

short term investments

11,302

3 359

7,410

Receivables

5 629

2 823

1,763

Inventory

100,593

101,063

118,707

Prepaid expenses and other assets

11,771

11 190

21 749

Total current assets

598,028

437,224

481 552

PROPERTY AND EQUIPMENT

454 118

451 357

451,708

Less cumulative depreciation

(354,834

)

(350 942

)

(349 411)

)

99 284

100 415

102,297

GOODS OF RIGHT OF USE OF THE OPERATIONAL LEASE

264,183

279,358

287,197

LONG-TERM INVESTMENTS

20,024

18,320

16,729

OTHER ASSETS

12 311

10,497

10 104

Total assets

$

993,830

$

845 814

$

897 879

LIABILITIES AND EQUITY

CURRENT LIABILITIES:

Accounts payable

$

63,518

$

43,399

$

57,629

Employee compensation payable

49,473

35,865

23,611

Store operating expenses

30 789

20,303

23,096

Redeemable gift certificates

11.146

14,279

12,093

Current portion of operating lease debts

84,365

81,762

78 860

Taxes payable on income

4

10,751

7,994

Total current liabilities

239,295

206,359

203,283

DEFERRED REMUNERATION

20,024

18,320

16,729

NON-CURRENT OPERATING LEASE LIABILITIES

208,707

224,506

235,463

Total responsibilities

468,026

449,185

455,475

COMMITMENTS

EQUITY:

Common shares, authorized 100,000,000 shares with a par value of $ 0.01; issued and in circulation; 49,783,381 shares as of October 30, 2021, 49,407,731 shares as of January 30, 2021 and 49,407,731 shares as of October 31, 2020

498

494

494

Premium

165,612

158,058

155,778

Retained earnings

359,694

238,077

286,132

Total equity for shareholders

525,804

396 629

442,404

Total liabilities and equity

$

993,830

$

845 814

$

897 879

(1) Derived from audited financial statements.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211119005195/en/

CONTACT: Thomas B. Heacock, Chief Financial Officer

The Loop, Inc.

(308) 236-8491

KEYWORD: NEBRASKA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FASHION DETAILS

SOURCE: The Buckle, Inc.

Copyright Business Wire 2021.

PUB: 11/19/2021 6:50 a.m. / DISC: 11/19/2021 6:51 a.m.

http://www.businesswire.com/news/home/20211119005195/en

Copyright Business Wire 2021.

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The Buckle, Inc. Reports Third Quarter Net Income | National company https://www.dnz-mladi.com/the-buckle-inc-reports-third-quarter-net-income-national-company/ Fri, 19 Nov 2021 11:51:41 +0000 https://www.dnz-mladi.com/the-buckle-inc-reports-third-quarter-net-income-national-company/ [ad_1] KEARNEY, Neb – (BUSINESS WIRE) – November 19, 2021– The Buckle, Inc. (NYSE: BKE) today announced that net income for the fiscal quarter ended October 30, 2021 was $ 62.2 million, or $ 1.27 per share ($ 1.26 per share on a diluted basis). Net sales for the 13-week fiscal quarter ended October 30, […]]]>


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KEARNEY, Neb – (BUSINESS WIRE) – November 19, 2021–

The Buckle, Inc. (NYSE: BKE) today announced that net income for the fiscal quarter ended October 30, 2021 was $ 62.2 million, or $ 1.27 per share ($ 1.26 per share on a diluted basis).

Net sales for the 13-week fiscal quarter ended October 30, 2021 increased 27.3% to $ 319.4 million from net sales of $ 251.0 million for the 13-week fiscal quarter of the prior year ended October 31, 2020. Comparable store net sales for the 13 weeks period ended October 30, 2021 increased by 27.3% compared to comparable store net sales for the 13 week period ended October 31 2020. Online sales increased 9.0% to $ 50.5 million for the 13-week period ended October 30, 2021, compared to net sales of $ 46.4 million for the period 13 weeks ended October 31, 2020.

Net sales for the 39-week fiscal year ended October 30, 2021 increased 56.9% to $ 913.7 million from net sales of $ 582.4 million for the prior 39-week fiscal year ended on October 31, 2020. Comparable store net sales for the 39 weeks period ended October 30, 2021 increased 56.7% compared to comparable store net sales for the 39 week period ended October 31, 2020. Sales in line increased 18.7% to $ 147.7 million for the 39-week period ended October 30, 2021, compared to net sales of $ 124.4 million for the 39-week period ended October 31, 2020 .

Net income for the third quarter of fiscal 2021 was $ 62.2 million, or $ 1.27 per share ($ 1.26 per share on a diluted basis), compared to net income of 41.6 million dollars, or $ 0.85 per share ($ 0.85 per share on a diluted basis) for the third quarter of fiscal 2020.

Net income for the 39-week fiscal year ended October 30, 2021 was $ 170.9 million, or $ 3.49 per share ($ 3.46 per share on a diluted basis), compared to a net income of $ 64.5 million, or $ 1.32 per share ($ 1.32 per share on a diluted basis) for the 39-week period ended October 31, 2020.

Management will host a conference call at 10 am EST today to discuss the results for the quarter. To participate in the call, please call (844) 291-6362 for domestic calls or (234) 720-6995 for international calls and reference conference code 3631906. A replay of the call will be available during a period of time. two week period from today. at 1 p.m. EST by calling (866) 207-1041 for domestic calls or (402) 970-0847 for international calls and entering conference code 6269408.

About the loop

Offering a unique blend of high quality on-trend clothing, accessories and footwear, Buckle is aimed at fashion-conscious young men and women. Known as a denim destination, each store offers a wide selection of fits, styles and finishes from major denim brands, including the company’s exclusive brand, BKE. Based in Kearney, Nebraska, Buckle currently operates 441 retail stores in 42 states. At the end of the fiscal quarter, it operated 441 stores in 42 states, compared to 446 stores in 42 states at the end of the third quarter of fiscal 2020 .

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: All forward-looking statements made by the Company involve significant risks and uncertainties and are subject to change based on factors which may be beyond the control of the Company. . Accordingly, the Company’s future performance and financial results may differ materially from those expressed or implied in such forward-looking statements. These factors include, but are not limited to, those described in documents filed by the Company with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, even if experience or future changes clearly indicate that the projected results expressed or implied will not be achieved.

Note: Press releases and other information about The Buckle, Inc. can be found at www.buckle.com on the Internet.

Financial tables to follow

LA BOUCLE, INC.

CONSOLIDATED INCOME STATEMENTS

(Amounts in thousands, except amounts per share)

(Unaudited)

Thirteen Weeks Completed

Thirty-nine weeks completed

October 30
2021

October 31,
2020

October 30
2021

October 31,
2020

SALES, net of returns and indemnities

$

319,432

$

251,005

$

913 677

$

582,443

COST OF SALES (including purchase, distribution and occupancy costs)

158,366

134,055

463,039

345,286

Gross profit

161,066

116,950

450 638

237,157

OPERATING COSTS :

Sale

67,771

52,894

190,827

124 655

general and administrative

11,080

9 930

33 912

29,026

78,851

62 824

224,739

153,681

REVENUE FROM OPERATIONS

82 215

54,126

225,899

83,476

OTHER REVENUES, net

192

1,020

465

1,998

INCOME BEFORE TAXES

82,407

55 146

226,364

85,474

INCOME TAX CHARGE

20 190

13,511

55,459

20,941

NET REVENUE

$

62,217

$

41 635

$

170,905

$

64,533

EARNINGS PER SHARE:

Basic

$

1.27

$

0.85

$

3.49

$

1.32

Diluted

$

1.26

$

0.85

$

3.46

$

1.32

Core weighted average stocks

48 946

48,714

48 946

48,718

Diluted weighted average equities

49 362

48,987

49 338

48 941

LA BOUCLE, INC.

CONSOLIDATED RESULTS

(Amounts in thousands except for amounts per share and per share)

(Unaudited)

ASSETS

October 30
2021

January 30
2021 (1)

October 31,
2020

CURRENT ASSETS:

Cash and cash equivalents

$

468 733

$

318 789

$

331 923

short term investments

11,302

3 359

7,410

Receivables

5 629

2 823

1,763

Inventory

100,593

101,063

118,707

Prepaid expenses and other assets

11,771

11 190

21 749

Total current assets

598,028

437,224

481 552

PROPERTY AND EQUIPMENT

454 118

451 357

451,708

Less cumulative depreciation

(354,834

)

(350 942

)

(349 411)

)

99 284

100 415

102,297

GOODS OF RIGHT OF USE OF THE OPERATIONAL LEASE

264,183

279,358

287,197

LONG-TERM INVESTMENTS

20,024

18,320

16,729

OTHER ASSETS

12 311

10,497

10 104

Total assets

$

993,830

$

845 814

$

897 879

LIABILITIES AND EQUITY

CURRENT LIABILITIES:

Accounts payable

$

63,518

$

43,399

$

57,629

Employee compensation payable

49,473

35,865

23,611

Store operating expenses

30 789

20,303

23,096

Redeemable gift certificates

11.146

14,279

12,093

Current portion of operating lease debts

84,365

81,762

78 860

Taxes payable on income

4

10,751

7,994

Total current liabilities

239,295

206,359

203,283

DEFERRED REMUNERATION

20,024

18,320

16,729

NON-CURRENT OPERATING LEASE LIABILITIES

208,707

224,506

235,463

Total responsibilities

468,026

449,185

455,475

COMMITMENTS

EQUITY:

Common shares, authorized 100,000,000 shares with a par value of $ 0.01; issued and in circulation; 49,783,381 shares as of October 30, 2021, 49,407,731 shares as of January 30, 2021 and 49,407,731 shares as of October 31, 2020

498

494

494

Premium

165,612

158,058

155,778

Retained earnings

359,694

238,077

286,132

Total equity for shareholders

525,804

396 629

442,404

Total liabilities and equity

$

993,830

$

845 814

$

897 879

(1) Derived from audited financial statements.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211119005195/en/

CONTACT: Thomas B. Heacock, Chief Financial Officer

The Loop, Inc.

(308) 236-8491

KEYWORD: NEBRASKA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FASHION DETAILS

SOURCE: The Buckle, Inc.

Copyright Business Wire 2021.

PUB: 11/19/2021 6:50 a.m. / DISC: 11/19/2021 6:51 a.m.

http://www.businesswire.com/news/home/20211119005195/en

Copyright Business Wire 2021.

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Cato reports third quarter net income https://www.dnz-mladi.com/cato-reports-third-quarter-net-income/ Wed, 17 Nov 2021 08:00:00 +0000 https://www.dnz-mladi.com/cato-reports-third-quarter-net-income/ [ad_1] CHARLOTTE, North Carolina, November 17, 2021 / PRNewswire / – The Cato Corporation (NYSE: CATO) today reported net income of $ 8.6 million Where $ 0.39 per diluted share for the third quarter ended October 30, 2021, compared to a net loss of $ 3.6 million Where ($ 0.15) per diluted share for the […]]]>


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CHARLOTTE, North Carolina, November 17, 2021 / PRNewswire / – The Cato Corporation (NYSE: CATO) today reported net income of $ 8.6 million Where $ 0.39 per diluted share for the third quarter ended October 30, 2021, compared to a net loss of $ 3.6 million Where ($ 0.15) per diluted share for the third quarter ended October 31, 2020.

Fiscal 2020 sales were strongly impacted by the closure of our stores for six weeks due to the COVID-19 pandemic, as of March 19, 2020. Due to the impact of unprecedented closings, the Company will post sales from the past two years. Revenue for the third quarter ended October 30, 2021 were $ 170.5 million, representing a 14% increase in sales of $ 149.2 million for the third quarter ended October 31, 2020. Compared to the same period in 2019, sales decreased by 10% compared to sales of $ 189.4 million for the quarter ended November 2, 2019. The Company’s comparable store sales for the quarter increased 14% compared to 2020 and decreased 13% compared to the same period in 2019.

For the nine months ended October 30, 2021, the Company reported net income of $ 43.3 million Where $ 1.93 per diluted share, against a net loss of $ 39.2 million Where ($ 1.64) per diluted share for the nine months ended October 31, 2020. Sales for the nine months ended October 30, 2021 were $ 587.7 million, a 42% increase in sales of $ 414.3 million for the nine months ended October 31, 2020. Compared to the same period in 2019, sales decreased by 6% compared to sales of $ 627.8 million for the nine months ended November 2, 2019. Year-to-date, comparable store sales increased 41% compared to 2020 and decreased 9% compared to the same period in 2019.

“We continue to face challenges due to the lingering effects of the pandemic on the retail sector and the economy as a whole,” said Jean Caton, Chairman of the Board, President and Chief Executive Officer. “Our sales for the third quarter were negatively impacted by lower inventory levels linked to further deterioration in the supply chain coupled with an increase in positive cases related to the COVID-19 Delta variant.”

Gross margin increased from 26.7% to 38.9% of sales in the quarter due to higher merchandise margins. General and administrative expenses as a percentage of sales increased from 34.8% to 36.6% of sales in the quarter, mainly due to increased payroll taxes / premiums and store operating expenses as store opening hours have increased significantly compared to the previous year. The tax savings for the quarter were $ 5.7 million due to increased benefits of tax planning initiatives and lower reserves related to uncertain tax positions, offset by higher profit before tax compared to a $ 9.7 million the previous year due to the pre-tax loss. The Company ended the quarter with unallocated cash and short-term investments of $ 200.1 million driven by solid operating cash flow, offset by dividends and share buybacks. This compares with $ 151.4 million for the same period in 2020.

Year-to-date gross margin increased to 41.6% of sales from 21.4% a year earlier, mainly due to increased margins on merchandise. The SG&A rate since the start of the year was 33.5% versus 35.8% mainly due to the leverage effect of expenses, partially offset by the increase in social charges / bonuses. Income tax expense for the nine months ended October 30, 2021 has been $ 1.9 million against one $ 22.7 million profit last year.

Since the start of the year, the Company has permanently closed 6 stores. From October 30, 2021, the Company operates 1,324 stores in 32 states, compared to 1,347 stores in 33 states in October 31, 2020.

“While our first half sales benefited from pent-up demand, government stimulus and more reasonable inventory levels, third quarter sales slowed due to lower inventory levels caused by the worsening supply chain disruptions, “said Cato. “As we see these conditions persist, coupled with the effects of rising inflation and potential government vaccine mandates, we believe the fourth quarter will be very difficult.”

“As we enter the holiday season, amid the lingering effects of the pandemic, the safety of our associates and customers remains our primary focus,” said Mr. Cato. “We strive to provide our customers with a safe place to shop for their favorite fashion trends at a great price with exceptional customer service. “

The Cato Corporation is a leading specialty retailer of discount fashionable clothing and accessories that operates three concepts, “Cato”, “Versona” and “It’s Fashion”. The company’s Cato stores offer exclusive merchandise with a fashion and quality comparable to specialty stores in low-cost malls every day. The Company also offers exclusive merchandise found in its Cato stores at www.catofashions.com. Versona is a one-stop fashion destination offering clothing and accessories including jewelry, handbags and shoes at great prices every day. Some Versona products are also available at www.shopversona.com. It’s Fashion offers fashion with an emphasis on the latest trendy styles for the whole family at low prices every day.

Statements in this press release which express any belief, expectation or intention, as well as those which are not historical fact, Iincluding, without limitation, statements regarding the Company’s expected or estimated operating financial results, activities or opportunities, and the potential impacts and effects of the coronavirus are considered “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on current expectations which are subject to known and unknown risks, uncertainties and other factors which could cause actual results to differ materially from those contemplated by the forward-looking statements. These factors include, but are not limited to,, any real or perceived deterioration in the conditions that boost consumer confidence and spending, including, but not limited to, social, economic, political and public health conditions and uncertainties, unemployment levels, costs fuel, energy and food, wage rates, tax rates, interest rates, home values, consumer equity and credit availability; changes in laws or regulations affecting our business, including, but not limited to, pricing; uncertainties regarding the impact of any government actions relating to, or responses to, the above conditions; competitive factors and price pressures; our ability to predict and respond to fashion trends and rapidly changing consumer demands; our ability to successfully implement our new store development strategy to increase new store openings and the ability of those new stores to grow and operate as planned; adverse weather conditions, threats to public health (including the global coronavirus epidemic (COVID-19)) or similar conditions that could affect our sales or operations; inventory risks due to changes in market demand, including the ability to liquidate excess inventory at expected margins; and other factors discussed under “Risk Factors” in Part I, Item 1A of the last annual report filed by the Company on Form 10-K and in other reports that the Company files or provides to the SEC from time to time. to other. The Company does not undertake to publicly update or revise any forward-looking statements even if experience or future changes clearly indicate that the projected results expressed or implied therein will not be achieved. The Company is not responsible for changes made to this press release by wire or Internet services.

THE CATO COMPANY
















CONDENSED CONSOLIDATED INCOME STATEMENTS (UNAUDITED)




FOR THE PERIODS ENDING OCTOBER 30, 2021 AND OCTOBER 31, 2020






(In thousands of dollars, except per share data)


























Quarter ended


Nine months ended


















October 30

%


October 31,

%


October 30

%


October 31,

%


2021

Sales


2020

Sales


2021

Sales


2020

Sales

















REVENUES
















Retail sales

$

170,513

100.0%


$

149,205

100.0%


$

587,709

100.0%


$

414 283

100.0%

Other income (mainly finance,
















late fees and layaway fees)


1700

1.0%



1,586

1.1%



5 335

0.9%



5,410

1.3%

















Total income


172,213

101.0%



150,791

101.1%



593,044

100.9%



419,693

101.3%

















GROSS MARGIN (Memo)


66,288

38.9%



39,801

26.7%



244,222

41.6%



88,545

21.4%

















COSTS AND EXPENSES, NET
















Cost of goods sold


104,225

61.1%



109,404

73.3%



343 487

58.4%



325,738

78.6%

Selling, general and administrative expenses


62,466

36.6%



51 885

34.8%



196 687

33.5%



148,353

35.8%

Depreciation


3,173

1.9%



3,619

2.4%



9,352

1.6%



11,113

2.7%

Interest and other income


(541)

-0.3%



(791)

-0.5%



(1,719)

-0.3%



(3,603)

-0.9%

















Cost and expenses, net


169,323

99.3%



164,117

110.0%



547,807

93.2%



481,601

116.3%

































Income (loss) before income taxes


2,890

1.7%



(13,326)

-8.9%



45,237

7.7%



(61,908)

-14.9%

















Income tax (benefit) Charge


(5,713)

-3.4%



(9,704)

-6.5%



1,929

0.3%



(22,698)

-5.5%

















Net income (loss)

$

8,603

5.0%


$

(3,622)

-2.4%


$

43,308

7.4%


$

(39,210)

-9.5%

































Basic earnings per share

$

0.39



$

(0.15)



$

1.93



$

(1.64)


































Diluted earnings per share

$

0.39



$

(0.15)



$

1.93



$

(1.64)


THE CATO COMPANY







CONDENSED CONSOLIDATED BALANCE SHEET


(dollars in thousands)















October 30



January 30


2021



2021


(Unaudited)



(Unaudited)








ASSETS







Current assets







Cash and cash equivalents

$

23 990



$

17 510

short term investments


176 120




126,416

Restricted species


3 919




3 918

Accounts receivable – net


56,017




52,743

Inventories of goods


90 229




84 123

Other current assets


11,478




5,840








Total current assets


361 753




290,550








Property and equipment, net


65 115




72,550








Non-current deferred taxes


5 920




5 685








other assets


23,528




22,850








Right of use assets, net


130,842




199 817








TOTAL

$

587,158



$

591 452








LIABILITIES AND EQUITY












Current liabilities

$

164 103



$

118,513








Current rental liability


50 234




63,421








Non-current liabilities


17,408




19,705








Rental liability


84 635




143,315








Equity


270,778




246,498








TOTAL

$

587,158



$

591 452

SOURCE The Caton company

Related links

http://www.catocorp.com

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