Break-Even Analysis

April May June July August September October November December January February March Total

Inv. Sales 09/10 367,270.00 463,924.00 418,952.00 443,459.00 399,436.00 552,455.00 372,406.00 392,713.00 340,942.00 3,751,557.00
Inv. Sales 08/09 262,485.00 267,011.00 284,110.00 371,684.00 342,267.00 370,967.00 394,756.00 405,678.00 435,890.00 542,811.00 322,488.00 397,047.00 4,397,194.00
Ord. Taken 09/10 515,022.00 401,718.00 1,689,047.00 2,051,934.00 102,640.00 193,680.00 337,096.00 17,643.00 678,925.00 5,987,705.00
Ord. Taken 08/09 96,696.00 220,689.00 415,369.00 20,870.00 193,938.00 361,000.00 453,463.00 230,828.00 26,097.00 522,185.00 403,189.00 (115,195.00) 2,829,129.00
Objective (YTD) 433,333.00 866,667.00 1,300,000.00 1,733,333.00 2,166,667.00 2,800,000.00 3,033,333.00 3,466,667.00 3,900,000.00 4,333,333.00 4,766,667.00 5,200,000.00

April 09 May 09 June 09 July 09 Aug 09 Sept 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 12 mo. Average
No. of Quotes 9 7 17 12 13 8 8 13 6 12 12 15 11
Lease - quotes 874,675.00 652,657.00 2,236,884.00 488,135.00 3,780,282.00 1,099,260.00 572,914.00 1,159,411.00 785,674.00 1,186,027.00 798,165.00 2,313,703.00 1,329,091.00
Sales - quotes 783,077.00 4,628,586.00 1,569,342.00 384,070.00 625,399.00 911,349.00 754,278.00 325,893.00 682,615.00 3,022,674.00 1,140,607.00
Total 1,657,752.00 5,282,243.00 6,806,226.00 872,206.00 4,405,681.00 2,010,609.00 1,327,192.00 1,485,304.00 1,468,286.00 1,183,027.00 798,265.00 5,336,377.00 2,469,697.00
Close Ratio 10% 7% 24% 42% 42% 32% 8% 11% 24% 19% 31% 11% 23%
April 09 May 09 June 09 July 09 Aug 09 Sept 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Average
Security Deposits (1,225,260.00) (1,196,673.00) (1,365,651.00) (1,439,720.00) (1,403,229.00) (1,473,692.00) (1,080,530.00) (1,188,222.00) (1,231,514.00) (970,821.00) (1,213,723.00) (1,028,112.00) (1,234,762.00)

Current 431,718.00 500,051.00 380,910.00 362,269.00 321,159.00 261,836.00 (129,774.00) (240,572.00) (238,508.00) 632,068.00 433,149.00 549,908.00 272,018.00
> 30 days 532,772.00 398,823.00 405,789.00 433,586.00 384,774.00 594,119.00 521,416.00 389,234.00 466,849.00 455,543.00 565,481.00 435,567.00 465,329.00
> 60 days 362,225.00 392,587.00 248,895.00 350,337.00 364,546.00 296,025.00 295,680.00 427,149.00 323,191.00 447,362.00 429,857.00 423,591.00 363,454.00
> 90 days 1,322,608.00 1,460,826.00 1,266,318.00 1,176,238.00 1,057,280.00 1,077,488.00 694,840.00 726,238.00 957,097.00 1,331,171.00 1,504,903.00 1,152,345.00 1,143,946.00
Total 2,649,323.00 2,752,287.00 2,301,912.00 2,322,430.00 2,127,759.00 2,229,468.00 1,382,162.00 1,302,049.00 1,508,629.00 2,866,144.00 2,933,390.00 2,561,411.00 2,244,747.00
Total General Reserves 931,696.00 1,062,360.00 982,128.00 969,952.00 887,723.00 881,937.00 588,943.00 508,510.00 597,956.00 363,492.00 404,795.00 316,268.00 707,980.00
Days Sales Outstanding 144.61 125.89 96.60 93.30 89.92 88.36 54.81 55.11 75.34 165.41 177.81 162.74 110.82
Sec. Dep/ Cur Inv 333.60% 258% 326% 325% 351% 267% 290% 303% 361% 179% 376% 259% 223.80%
Credits ($) 31 31 6,831 64,232 - 17,873 116 - 18,080 - - - YTD Credits
YTD Credit % 0.00% 0.00% 1.60% 14.50% 0.00% 3.20% 0.00% 0.00% 5.30% 3.70% 3.40% 4.50% 107,194

(1) Quote objective equals 4 x orders Taken Objective: Objective close ratio for all TM's and all tiers is 25%
(2) A/R information is presented at the gross income
(3) Close ratio = orders taken/ quotes: ratio is calculated based on 3-month totals
Additional Note: orders objective = sales objectives
Invoice YTD
% Objective
96%

1,733,333.00
25%

75

2%
 April 09 May 09 June 09 July 09 Aug 09 Sept 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Total

Inv. Sales 09/10 367,270.00 463,924.00 418,952.00 443,459.00 399,436.00 552,455.00 372,406.00 392,713.00 340,942.00 3,751,557.00
Inv. Sales 08/09 262,485.00 267,011.00 284,110.00 371,684.00 342,267.00 370,967.00 394,756.00 405,678.00 435,890.00 542,811.00 322,488.00 397,047.00 4,397,194.00
Ord. Taken 09/10 515,022.00 401,718.00 1,689,047.00 2,051,934.00 102,640.00 193,680.00 337,096.00 17,643.00 678,925.00 5,987,705.00
Ord. Taken 08/09 96,696.00 220,689.00 415,369.00 20,870.00 193,938.00 361,000.00 453,463.00 230,828.00 26,097.00 522,185.00 403,189.00 (115,195.00) 2,829,129.00
Objective (YTD) 433,333.00 866,667.00 1,300,000.00 1,733,333.00 2,166,667.00 2,800,000.00 3,033,333.00 3,466,667.00 3,900,000.00 4,333,333.00 4,766,667.00 5,200,000.00
Invoice YTD
% Objective
96%
 EFCO PHILS. LTD.
STATEMENT OF INCOME
Currency in US Dollars
For the year ended March 31, 2010

Actual Budget
( Mar 31, '09 ) ( Apr '09 - Mar '10 )

Gross Income
Sales 1,031,167.00 750,000.00
Lease 2,725,165.00 3,150,000.00
Inter-company sales 431,227.00 150,000.00
Provision for credits 134,165.00 337,500.00

Gross Revenue 4,321,724.00 4,387,500.00

Cost of Sales
Cost of Goods Sold 139,863.00 185,123.00
Inter-company cost of goods sold 91,455.00 9,662.00
Depreciation 1,582,148.00 1,702,301.00

Total Cost of Sales 1,813,466.00 1,897,086.00

Gross Profit 2,508,258.00 2,490,414.00

Gross Profit Percentage 58% 57%

Operating expenses
Salaries and wages 256,522.00 266,318.00
Commission 151,049.00 117,000.00
Employee benefits 11,651.00 16,169.00
Marketing 128,182.00 94,526.00
Corporate development 109,294.00 141,050.00
Occupancy 181,378.00 180,308.00
Communication 174,705.00 208,467.00
Travel 69,491.00 59,999.00
Subsistence 31,334.00 18,965.00
Operations 276,212.00 235,983.00
Professional expenses 7,054.00 8,370.00
Taxes & penalties 844.00 10,069.00
Miscellaneous expenses 5,042.00 13,679.00

Total Operationg Expenses 1,402,758.00 1,370,903.00

Operating Income 1,105,500.00 1,119,511.00

Other Income ( Expenses )

Interest Income 173.00 1,290.00
Accounting & Data Processing (31,656.00) (31,700.00)
Gain ( loss ) on disposals 3,942.00 -

Earnings before income tax 1,077,959.00 1,089,101.00

Income Tax expense 377,286.00 354,750.00

Net Income 700,673.00 734,351.00