EFTA02721981.pdf

Antiquorum - Consolidated Statements of Income Unaudited - High Case 100% of the Budget in USD Budget• Actual Actual Actual 2014 2013 2012 2011 Low Estimate Value 45,865,822 46,601,616 42,905,523 50,911,945 Hammer Price 39,676,550 40,324,851 37,996,973 45,571,370 Commission 11,123,600 11,328,242 10,895,337 13,001,055 Other Revenue 694,414 1,172,197 920,487 1,257,772 Total Revenue 11,818,015 12,500,439 11,815,824 14,258,827 Cost of Revenue 2,416,501 3,821,877 3,375,302 3,345,574 Sales & Marketing Expenses 1,585,683 2,104,036 1,794,206 1,608,451 Gross Profit 7,815,831 6,574,525 6,646,316 9,304,802 66% 53% 56% 65% Operating expenses: Payroll & Related Benefits 3,544,276 3,827,905 4,106,520 3,814,381 Rent & Related Expenses 1,535,007 1,587,435 1,557,770 1,417,932 General & Administrative 1,502,497 2,035,301 2,149,040 1,767,296 Depreciation & Amortization 305,087 337,611 469,376 484,451 Total Operating Expenses 6,886,868 7,788,252 8,282,706 7,484,060 Income from Operations 928,964 (1,213,727) (1,636,390) 1,820,742 7.9% -9.7% -13.8% 12.8% Other Expense/(Income): Interest Expense/(Income) 245,151 414,931 445,942 470,370 Other Expense/(Income) 133,955 200,908 36,146 362,880 Net Other Expense/(Income) 379,106 615,839 482,089 833,249 Extraordinary Expense/(Income) Income before Taxes 549,858 (1,829,566) (2,118,478) 987,493 Provision for Taxes 107,907 186,933 127,357 51,710 Net Income/(Loss) 441,951 (2,016,500) (2,245,835) 935,782 • Actual Jan thru April - Budget May thru Dec Confidential Information - Not for Distribution or Reproduction Finance Dept 6/4/2014 EFTA_R1_02206569 EFTA02721981