III. LATERAL AUDIT
A.

B. financial analysis
Annual Income Statement (values in 000's)Get Quarterly Data Period Ending: | Trend | 3/31/2014 | 3/31/2013 | 3/31/2012 | 3/31/2011 | Total Revenue | | | | | | | | | | | | | | | | | | | | | | | | | | $114,992,000 | $104,889,000 | $96,581,000 | $107,829,000 | Cost of Revenue | | | | | | | | | | | | | | | | | | | | | | | | | | $85,071,000 | $77,995,000 | $71,932,000 | $78,389,000 | Gross Profit | | | | | | | | | | | | | | | | | | | | | | | | $29,921,000 | $26,894,000 | $24,649,000 | $29,440,000 | Operating Expenses | Research and Development | | | | | | | | | | | | | | | | | | | | | | | | $6,157,000 | $5,949,000 | $6,317,000 | $5,883,000 | Sales, General and Admin. | | | | | | | | | | | | | | | | | | | | | | | | $16,478,000 | $15,160,000 | $15,521,000 | $16,683,000 | Non-Recurring Items | | | | | | | | | | | | | | | | | | | | | | | $0 | $0 | $0 | $0 | Other Operating Items | | | | | | | | | | | | | | | | | | | | | | | $0 | $0 | $0 | $0 | Operating Income | | | | | | | | | | | | | | | | | | | | | | | | | | $7,285,000 | $5,785,000 | $2,811,000 | $6,875,000 | Add'l income/expense items | | | | | | | | | | | | | | | | | | | | | | | | | | ($84,000) | ($465,000) | $443,000 | $835,000 | Earnings Before Interest and Tax | | | | | | | | | | | | | | | | | | | | | | | | | | $7,201,000 | $5,320,000 | $3,254,000 | $7,710,000 | Interest