Revenues are projected to have some variation between quarters with the second and third quarters being close to the same and the first and fourth quarters being lower by approximately 20% and 10%, respectively, than the second and third quarters.
Net income by quarter is projected to vary significantly between quarters. We are projecting that net income per quarter as a percent of the projected net income for all of fiscal year 2013 will be approximately 12%, 40%, 18% and 30%, respectively.
Capital expenditures are projected to be approximately $7.5 million to $8.0 million. The increase from the $5.4 million of capital expenditures during fiscal year 2012 is primarily due to capital expenditure requirements at GreenLine. The depreciation and amortization expense is projected to be approximately $8.0 million in fiscal year 2013, compared to $5.6 million in fiscal year 2012.
3) What comprises the $2.0 million of non-recurring acquisition related expenses and why does this amount differ from the $1.4 million reported as other operating expenses?
The $2.0 million of non-recurring acquisition related expenses are comprised of (in thousands):
|Accounting and tax fees (recorded at Corporate)||$||550|
|Expense associated with extinguishing of debt (a)||500|
|Write off of the step up in inventory at close (b)||100|
|Investment banking fees(c)||300|
|Miscellaneous other fees(c)||100|
|Total non-recurring acquisition related expenses||$||2,000|