Image by RyanIsHungry
yeah we pretty much re-built the thing. the whole second floor was knocked down and rebuilt. the foundation and first floor studs are the same. that’s about it.
amazing how much more room you get when you straighten a gabled roof.
For the first quarter of 2012, total revenues reached $ 11.4 million, up 52.5% from $ 7.5 million recorded in the first quarter of 2011. The increase in revenue was primarily driven by an increase in sales from of our new line of interior porcelain wall tiles launched in August of 2011 coupled with an increase in sales from our higher priced premium polycrystalline porcelain floor tiles. Gross profit in the first quarter of 2012 increased to $ 4.3 million, up by 63.3% from $ 2.6 million achieved in the first quarter of 2011. Gross profit margin increased to 37.8% in the first quarter of 2012, compared to 35.3% in the same period of 2011 primarily due to the increased sales of the higher margin premium polycrystalline floor tiles.
Total operating expenses for the first quarter of 2012 decreased to $ 465,000, down 11.1% from $ 523,000 recorded in the same period in 2011. The decrease in operating expenses is largely due to a reduction in retirement insurance expenses and real estate tax expense, partially offset by an increase in employee welfare expenses.
For the first quarter of 2012, net income rose to $ 3.2 million, up 82.1% from net income of $ 1.7 million recorded in the first quarter of 2011. Net margin in the first quarter of 2012 also increased to 27.7% from 23.2% recorded in the same period in 2011. In the first quarter of 2012 we achieved earnings per basic and diluted share of $ 0.42 on 7.5 million weighted average shares outstanding. This compares to earnings of $ 2.94 per basic and diluted share on 590,033 weighted average shares outstanding. The increase in the number of common shares outstanding in the first quarter of 2012 is a result of the full conversion in January 2012 of two outstanding promissory notes for a total of 8.9 million common shares. The two promissory notes were issued in connection with our acquisition of Ziyang Ceramic Company. As of the date of this release we have 10 million shares outstanding with no additional convertible securities outstanding, excluding those covered under existing company stock option and incentive plans.
At March 31, 2012, total cash was $ 9.2 million, an increase of 56.9% from $ 5.9 million in total cash at December 31, 2011. Current assets were $ 15.9 million at March 31, 2012 compared to current assets of $ 14.1 million at December 31, 2011. Total shareholder equity increased to $ 24.9 million, up 14.5% compared to shareholder equity of $ 21.7 million at December 31, 2011.
Commenting on the financial results for the first quarter of 2012, Mr. Lingbo Chi, CEO of Ziyang Ceramics, stated, “We are extremely pleased with our achievements in this quarter as we set the stage for the remainder of 2012. Our new products and higher end tile offerings are beginning to pay dividends for us as we increase sales margins and our bottom line results. We continue to grow our distribution base and expand our product offerings as we build for our future growth. We are confident that we have the right team and are in the right position to deliver strong top and bottom line growth throughout 2012. We look forward to building our company into one of the leading tile manufacturers in China as we look to maximize the value of our company for the benefit of our stockholders.
Gayle Madeira and Sidney Grant, the 2011 USA Tango Champions, will teach and perform Argentine tango on Saturday, April 28 and Sunday, April 29, 2012 in the first full event of the new Saugerties Performing Arts Factory in Saugerties New York. They will also teach a men’s and women’s tango technique workshop on Sunday, April 29 from 2-3:30pm at the Mountain View Studio in Woodstock, New York. The Saugerties Performing Arts Factory is a newly renovated 21,000 square foot facility intended to place “all the arts under one roof.” The opening weekend on April 20-22 drew hundreds of patrons and included theater, music, art and dance showcases.
For the events on Saturday, April 28st, there will be an absolute beginners class at 7pm, no partner or experience necessary, followed by an 8pm intermediate class, also no partner necessary but some tango experience with Argentine Tango is required. Woodstock Tango’s popular Milonga Bohemia (Argentine Tango Social Dance) will begin at 9pm and will include a performance by Gayle and Sid around 11pm.
The tango DJ for Milonga Bohemia will be La Rubia De Norte who will play classic and nuevo tango with interludes of latin and swing. Admission is $ 15 for the night, $ 10 for students with ID and senior citizens over 65.
Saugerties Performing Arts Factory address: 169 Ulster Ave. Saugerties NY
Mountain View Studio address: 20 Mountain View Ave. Woodstock, NY
About Gayle and Sid
Gayle Gibbons Madeira is an award-winning painter, dancer and choreographer based in New York City. She began dancing with the Loudoun Ballet Company in Virginia at age five and was graduated from the prestigious dance conservatory at the State University of NY, College at Purchase with a BFA in 1992. She has performed work by Paul Taylor, Jos
Step by step advice on How to add a room addition to your home, Written by a retired home remodeling contractor. Find designing, layout, planning, dealing with contractors, cost saving techniques, contract advice & much more. Contractor bid sheets included.Step by step advice on How to add a room addition to your home, Written by a retired home remodeling contractor. Find designing, layout, planning, dealing with contractors, cost saving techniques, contract advice & much more. Contractor bid sh
Question by Marxist Radicals R Destroyers: Why Did The Democrats Today Oppose Extension On 8k First Time Home Buyer Tax Credit?
The republicans pushed for it, but majority democrats – did not.
They wanted to extend unemployment benifits another 6 weeks- but not the home buyer tax credit? Why do you think that is? Don’t they want the banks to be saved?
Answer by Tucking Fypos Cut spending, don’t cut spending, make up your mind.
Question by : i need party favor ideas. i am planning my sons first bday. its a construction/ bob the builder theme!?
i am planning my sons first birthday, its a construction / bob the builder theme! i need some ideas for party favors and activities!!
Answer by jason Cheap hard hats. I’m sure your local party store has something, or you can find something online.
Pin the hammer on Bob.
Build towers with blocks.
Just an observation though – a first birthday is probably too young for a theme party. Try that next year, your son will actually have a grasp of what’s going on.
Know better? Leave your own answer in the comments!
Question by leoachilles: First time home buyer credit extension if never filed before?
I heard that if I bought a house in 2006 and never filed for the credit it can be done so now with some sort of exemption policy. Anyone know about this?
Answer by Steve D There was no first time home buyers credit in 2006, so there was nothing to file for and as such, there is no exemption or extension..
Question by : First Home Buyers Tax Credit Military Extension?
I deployed in December of 2009. Will I still qualify for the Military Extension for First Home Buyers Tax Credit? I’ve read a ton of sites and it’s very unclear, I’ve read for 90 days between jan1 2009-may31 2010, I’ve read 90 of the days has to be in 2009. I’m just looking for a concrete answer as I close on my house in jan 2011 and I’m trying to see if I qualify.
Answer by Iffy No it is over. You missed even the extension
Question by prezkelly2485: Do I qualify for the military extension of the first time home buyer tax credit?
I am married and my husband has met the criteria of being deployed for more than 90 days in the last year. If he isn’t on the home loan, will I still receive the extension of the tax credit?
Answer by Ryan M He must be on the loan to qualify and the title. If he is not part of the loan, then there is no reason why you can not meet the original deadline. The whole point of the extension is FOR service members who served overseas.