Finanit 2 Ip

In: Business and Management

Submitted By GinaLawter
Words 838
Pages 4
Abstract
This paper will determine the year-to-year percentage annual growth in total net sales for the Micro Chip Corporation. It will also determine if the company achieved its sales goal of +10% annual revenue growth in 2009. As well, it will determine the target revenue figure, and give an opinion if whether or not the company hit its target. In order to calculate these figures, this paper will consider Micro Chip's Consolidated Statement of Operations for the year ended September 25, 2008 and then use the Percentage Sales Method and a 25% increase in sales to forecast Micro Chip's Consolidated Statement of Operations for the period of September 26, 2008 through September 25, 2009 by assuming a 15% tax rate and restructuring costs of 5% of the new sales figure.

Micro Chip Corporation

1. Determine the year-to-year percentage annual growth in total net sales.
To calculate the year to year percentage annual growth in total net sales, one would use this formula.
(current year-previous year)*100/previous year = percentage annual growth in total net sales.
Year Net Sales Percentage Growth
2004 $11,062
2005 $11,933 ($11,933 - $11,062) x 100 / $11,062 = 7.87%
2006 $9,181 ($9,181-$11,933) x 100 / $11933 = -23.06%
2007 $6,141 ($6,141-$9,181) x 100 / $9,181 = -33.11%
2008 $8,334 ($8,334-$6,141) x 100 / $6,141 = 35.71%

2. Based only on your answers to question #1, do you think the company achieved its sales goal of +10% annual revenue growth in 2009? Determine the target revenue figure, and explain why you do or do not feel that the company hit its target.
The target figure would be 10% more of the $8,334 net sales in 2008.
$8,334 + 10% = $9,167
With sales declining in 2006 and 2007, added with the slight growth in 2008, it…...

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