Diamond went from a 100,000 loss to a 800,000 gain on 53,000,000,00 in sales.Is there something wrong with this picture?If I did 53mil in sales I guaruntee if I was CEO we would be making more than 800k in profit.This is just another proof how we work for nothing in this industry!

Even the big boys can not make it with 250+ stores

There ya go scale it down, do the math, and see how a small business is taking it in the rear and why we have to lay off good people because of the dictaded pricing is killing us! but some say we are just whiners,,, yea right! we are not taking personal responsibility, we need to diversify and do other things to make up for the problem,,, BS!!!

The numbers that Diamond should be able make at the very least,since they claim to have 1000 mobile units and 5 distrubution centers.

1000 mobile units x200.00 profit per day=200k per day
5 centers x500.00 profit per day=2.5k per day
200k + 2.5k=202.5k per day profit

202.5 k x 5 days =1,012,500.00 per week
1,125k per week x 16wk= 16,200,000.00 per quarter

I think theses numbers are very conservative,even if you cut these margins in half Diamond should be able to make 8 million per qtr. not 800 thousand.something is definitely wrong when a company can not show a profit of a 100 bucks per day per man.This is just proof the strangle hold were in is a restraint of trade.
If you do some quick division on the 800k profit in a 16 week period,diamonds profit per man hour for 1000 vans based on a 40 hour week schedule made a whopping

$1.50 per hour profit

WHOOPIE !!!!!!! were in the MONEY NOW !!!!
I bet diamonds investors and creditors or jumping up and down with joy...

But the sad thing about all of this is, I can understand how dollars disappear so easily.I accidently billed State Farm at the old nags a couple days ago on a cougar qtr. glass.They quickly changed my bill and lowered it $150.00 dollars on just 1 D*** job.. We are S C R E W E D guys!

I do not claim to be an accountant,but something is wrong.

Hal-
If you read my last post-Your comments are welcome and I think you can see how little glass shops get paid.Can you make it on $1.50 per hour?

I hope you can understand why there is just a little tension here and communcations or just slightly lopsided.....

Read this:

http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/05-16-2005/0003631433&EDATE=s-

thanks for doing the math for diamond triumph, it seems their plan of coming into a market, cutting prices, trying to run out the mom-pop shop then jacking up pricing on cash sales (non-insurance) is really working (ha-ha)! in my market their installers a making more money moonlighting with their supplies, trucks, and labor hours than the company is. i have at least 50% of the market in my market against diamond triumph, why don't they buy some of us out like me and then have the whole pie instead of us cutting each other and neither making a profit. guys, diamond triumph is as much of the problem as the insurance companies, tpa's, etc.

I suspect there may be other ways to interpret their financial report. Remember, they have already pulled expenses, salaries, bonuses, etc, from those numbers.

Rest assured they are not working for $1.50 an hour.

They're also based on EBITDA.

Earnings Before Interest, Taxes, Depreciation, and Amortization.

Enron Accounting, as some call it.

Are you kidding me!! 1.5% profit. You do not need to lay people off if you are making money. 1.5% sucks but it does not constitute laying people off. You need to do more jobs to make more money. The question is where are your customers? The second is Triumph is expanding and opening new stores they spend a lot of money. They also pay some people pretty good saleries. What is your gross profit? What is your profit number at all? It sounds to me like you don't know. Quit whining

What the?

Also check out the filings at sec.gov and take a peek at the agreements that were made with thier bankers in Nov 04 to raise the EBITDA figures in the coming quarters.

If memory serves, it's just a 'tad' higher than $3.4M.

Wonder how they'll pull it off.

Lets post State Farms quaterly report and see how many billions they made .

If I am only making 1.5% profit I am shutting my doors, not just laying people off. You dont need to do more jobs to make more money- You need to charge more to make more money. You need to do more jobs to do more jobs. Triumph is a pile of crap as far as business goes, but they are large enough to affect the market with their poor business model, along with Safelite.

This is only one of SF's companies operating in my state. INfo is from State INsurance Dept Sources. I don't have the SF national publicized figures that SF gives the media at my fingertips right now.

STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
NATIONWIDE TOTALS

DIRECT PREMIUMS WRITTEN $29,672,130,484
DIRECT LOSSES INCURRED $18,039,827,928
DIRECT LOSS RATIO 60% (that's $.40 on the dollar gross profit on premiums, and it was about 4%points higher than other insurers in the state on the national totals, meaning the average was $.44 cents on the dollar for insurers operating here, but were thier national loss ratios.)

The three listed in just this state are (I'm sure there are more):
STATE FARM FIRE AND CASUALTY COMPANY
STATE FARM GENERAL INSURANCE COMPANY
STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY


Anybody reading this making $.40 cents on the dollar gross? (Hal, you're (State Auto) automatically excluded; sorry, but you're already in the above totals. Oh, and BTW...insurers pay losses because that's what they do...so calculate your gross AFTER you remove your cost of glass, materials, wages, ect. because that's what WE do.)

We should just start selling Auto Glass Insurance and raise the deductibles to $500.00 and never have to pay out a claim.Our earnings could be at least $.75 on the dollar,we could set up a phone bank and just teach our CSR's to say NO!We could even get them licensed to adjust......We could even give them a bonus for every claim they turned down!Steeering would not be a problem ,we would not need attorneys,we would not need the IGA and wholesalers could sale on a COD only basis because any windshield installed now would be for cash.Its a WIN-WIN oppurtunity.