LBE: Explanation for the change of over 5% in operating income in QIV- 2008
Long An Book and Educational Equipment JSC explained the change of over 5% in operating income in QIV-2008 as follow:
1. Net sales of merchandise and services in QIV/2008 decreased by 47% compared to QIII/2008 because of the specific feature of the industry in which books and education equipment are mainly sold at the beginning of the school year.
2. Accounting profit before tax of QIV/2008 decreased by 78% compared to QIII/2008 because the net sale decreased while operating cost increased.
3. Net profit after tax of QIV/2008 decreased by 105% compared to QIII/2008 because the income tax of QIII was roughly calculated while that of QIV is based on the income tax of the whole year.
4. Although the net profit of QIV/2008 decreased, accumulated net profit before tax is VND2,578 million, reaching 112% compared to plan.
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