date:May 14, 2014
riod last year.
Cost of goods sold as a percentage of net sales, excluding depreciation expense, were approximately 74% during the first quarter of 2014, compared to approximately 63% during the same period in 2013. Gross profit for the first quarter of 2014 decreased 18% to approximately $7.1 million, compared to approximately $8.6 million in the first quarter of the prior year.
The gross profit margin decreased to 24% in the first quarter 2014 versus 35% in the first quarter of 2013. The dec