Michigan Brewery Inc
OTC:BBUCQ
Income Statement
Earnings Waterfall
Michigan Brewery Inc
Income Statement
Michigan Brewery Inc
| Dec-1995 | Mar-1996 | Jun-1996 | Sep-1996 | Dec-1996 | Mar-1997 | Jun-1997 | Sep-1997 | Dec-1997 | Mar-1998 | Jun-1998 | Sep-1998 | Jan-1999 | Apr-1999 | Jul-1999 | Oct-1999 | Jan-2000 | Apr-2000 | Jul-2000 | Oct-2000 | Dec-2000 | Apr-2001 | Jul-2001 | Sep-2001 | Dec-2001 | Mar-2002 | Jun-2002 | Sep-2002 | Dec-2002 | Mar-2003 | Jun-2003 | Sep-2003 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||
| Revenue |
3
N/A
|
4
+34%
|
4
+21%
|
5
+4%
|
4
-4%
|
5
+5%
|
5
+16%
|
6
+12%
|
9
+54%
|
12
+31%
|
14
+15%
|
16
+14%
|
16
-1%
|
15
-4%
|
15
-2%
|
14
-2%
|
14
-3%
|
14
+3%
|
14
+2%
|
15
+4%
|
17
+10%
|
18
+7%
|
18
+3%
|
18
0%
|
17
-4%
|
17
-2%
|
17
+0%
|
17
-1%
|
16
-3%
|
16
-3%
|
19
+21%
|
19
-2%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||
| Cost of Revenue |
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(6)
|
(7)
|
(9)
|
(10)
|
(10)
|
(10)
|
(9)
|
(9)
|
(9)
|
(9)
|
(9)
|
(10)
|
(11)
|
(11)
|
(12)
|
(11)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(12)
|
(12)
|
|
| Gross Profit |
1
N/A
|
1
+46%
|
1
+56%
|
2
+20%
|
2
-4%
|
2
+10%
|
2
+18%
|
2
+12%
|
4
+56%
|
5
+30%
|
5
+14%
|
6
+12%
|
6
-3%
|
5
-4%
|
5
-2%
|
5
0%
|
5
-2%
|
5
+4%
|
5
+1%
|
5
+2%
|
6
+7%
|
6
+8%
|
7
+6%
|
7
+5%
|
7
+2%
|
7
-1%
|
7
+1%
|
7
-2%
|
7
-4%
|
6
-5%
|
8
+19%
|
7
-4%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||
| Operating Expenses |
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(4)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(5)
|
(5)
|
(5)
|
(6)
|
(7)
|
(7)
|
(8)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(9)
|
(9)
|
|
| Selling, General & Administrative |
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(4)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
|
| Depreciation & Amortization |
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
|
| Operating Income |
(1)
N/A
|
(1)
-33%
|
(1)
+14%
|
(1)
+7%
|
(1)
N/A
|
(1)
-6%
|
(1)
+4%
|
(1)
-10%
|
(1)
+26%
|
(0)
+54%
|
(0)
+3%
|
(0)
+53%
|
(0)
-37%
|
(1)
-149%
|
(1)
+2%
|
(0)
+26%
|
(0)
+18%
|
0
N/A
|
0
N/A
|
(1)
N/A
|
(1)
-83%
|
(1)
+16%
|
(1)
+9%
|
(0)
+65%
|
(0)
+88%
|
(0)
-559%
|
(0)
+15%
|
(0)
-71%
|
(0)
+9%
|
(1)
-284%
|
(2)
-30%
|
(2)
-6%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||
| Interest Income Expense |
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
|
| Total Other Income |
0
|
0
|
0
|
0
|
0
|
1
|
1
|
0
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
| Pre-Tax Income |
(1)
N/A
|
(1)
-32%
|
(1)
+10%
|
(1)
+15%
|
(1)
+37%
|
(1)
+4%
|
(1)
+12%
|
(1)
-36%
|
(1)
-30%
|
(1)
+20%
|
(1)
-13%
|
(1)
+5%
|
(1)
-14%
|
(1)
-34%
|
(1)
-1%
|
(1)
+7%
|
(1)
-1%
|
(1)
+10%
|
(1)
-26%
|
(2)
-67%
|
(3)
-34%
|
(3)
+3%
|
(3)
+3%
|
(3)
+18%
|
(2)
+12%
|
(2)
-12%
|
(2)
N/A
|
(3)
-5%
|
(4)
-40%
|
(4)
-2%
|
(4)
-18%
|
(4)
-2%
|
|
| Net Income | |||||||||||||||||||||||||||||||||
| Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(2)
|
(2)
|
(2)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
|
| Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Net Income (Common) |
(1)
N/A
|
(1)
-32%
|
(1)
+10%
|
(1)
+15%
|
(1)
+37%
|
(1)
+4%
|
(1)
+12%
|
(1)
-36%
|
(1)
-30%
|
(1)
-13%
|
(1)
-9%
|
(1)
+4%
|
(1)
-10%
|
(1)
+0%
|
(1)
-1%
|
(1)
+7%
|
(1)
-1%
|
(1)
+10%
|
(1)
-25%
|
(2)
-63%
|
(3)
-34%
|
(3)
+3%
|
(3)
+4%
|
(2)
+17%
|
(2)
+14%
|
(2)
-15%
|
(2)
N/A
|
(3)
-5%
|
(4)
-41%
|
(4)
-2%
|
(4)
-18%
|
(4)
-2%
|
|
| EPS (Diluted) |
-3.05
N/A
|
-3.53
-16%
|
-3.04
+14%
|
-1.46
+52%
|
-1.2
+18%
|
-0.88
+27%
|
-0.78
+11%
|
-1.05
-35%
|
-1.37
-30%
|
-1.55
-13%
|
-1.69
-9%
|
-1.63
+4%
|
-1.79
-10%
|
-1.77
+1%
|
-1.77
N/A
|
-1.62
+8%
|
-1.66
-2%
|
-1.49
+10%
|
-1.86
-25%
|
-3.04
-63%
|
-4.08
-34%
|
-3.78
+7%
|
-3.6
+5%
|
-2.91
+19%
|
-2.53
+13%
|
-2.78
-10%
|
-2.82
-1%
|
-2.95
-5%
|
-4.19
-42%
|
-4.28
-2%
|
-5.04
-18%
|
-5.12
-2%
|
|