DeZwarteRidder schreef op 30 oktober 2019 18:25:
A summary of exceptional items included in gross profit in the third quarters of 2019 and 2018 are below:
Exceptional items included in gross profit
Q3 ‘19 Q3 ‘18 Change
Gross profit $24,907 $79,555 (69%)
Inventory cost adjustment 21,112 – N/A
Restructuring expense 732 349 110%
Asset impairment expense 298 4,232 (93%)
Gross profit excluding exceptional items 47,049 84,136 (44%)
AMG had a $21.1 million exceptional non-cash expense for vanadium, lithium and tantalum inventory cost adjustments as a result of a significant decline in prices for those materials. Therefore, it impacted our inventory cost position and resulted in a non-cash balance sheet adjustment which has been adjusted in EBITDA.