[MaxLite] Daily Sales Report as of 12/31/07

[Yon Sung]

Dear MaxLite Staff,
 

We closed 2007 with $31MM in sales, which is 54% higher than 2006 sales.  I
congratulate everyone at MaxLite who worked hard to achieve this level of
success in 2007.  Without your hard work and dedication we could not have
done this.  Our 2008 budget calls for $41.8MM, which is another 35% growth
from 2007.  Given the fact that fluorescent market is forecasted to grow at
10.1% each year between 2006 and 2011, 35% is a respectable growth rate if
we can achieve the goal.  That is the good news.  
 
The bad news is that we have substantial challenges ahead of us in terms of
increased expense base and the product cost.  Chinese currency appreciated
by 7% in 2007 and expected to appreciate double digit this year.  With
higher oil price hovering around $100 per barrel, we have already seen
double digit increase in our freight costs both inbound ocean and outbound
trucking.  
 
The name of the game in 2008 is how to minimize our expenses while
sustaining our sales growth.  Every 1% margin squeeze we will lose $418,000.
We have seen a large increase in our expense base including headcounts over
the last several months.  In order for us to survive in this challenging
environment we must focus on increasing our productivity and our efficiency.
Cost reduction measures must be in place across the company.  I hear most of
the Fortune 500 companies have already adopted cost reduction programs such
as using double side copying for the internal reports.  When billion’s of $
income generating Wall Street power houses become this frugal we must follow
the suit.
 
It is with this mixed emotion that we face 2008.  However, I am positive
that MaxLite can pull together another record year and we will celebrate at
the end of 2008.  We need your help.  From everyone of you at every level of
the company.  Please join me in my resolution to increase our productivity
and reduce cost.  Let’s make it happen again in 2008!
 
Management                      
 
  _____  

From: maxlite-bounces at lists.maxlite.com
[mailto:maxlite-bounces at lists.maxlite.com] On Behalf Of Ted Park
Sent: Friday, January 04, 2008 6:25 PM
To: maxlite at lists.maxlite.com
Subject: [MaxLite] Daily Sales Report as of 12/31/07
 
Dear All,
 
Please see attached the Daily Sales Report as of 12/31/07.
It’s our final sales amount on 2007.
Thank you for your work. 
 
MaxLite
Ted Park
Phone# 973-244-7300 (Ex.103)
Fax# 973-244-7333
E-mail:  <mailto:tpark at maxlite.com> tpark at maxlite.com
 
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