Also, the difference in the company's
gross margin from its forecast was driven by better than expected demand for its enterprise HDD portfolio and cost containment execution.
Embedded
gross margin amounted to $2.1 billion (including $175.6 million of discontinued operations embedded
gross margin), a decrease of 3% due to decline in the North American customer base in part associated with bad debt in Texas, which was partially offset by
gross margin optimization initiatives and a favorable foreign exchange impact.
GAAP
gross margin was 67 percent of revenue, compared to 65 percent of revenue in 2017.
Comparable-store sales grew 4.6%, over and above a 5.1% growth the previous year, and
gross margin was 40.1% of sales, compared to 39.5% of sales.
Gross margin for the first quarter of fiscal 2018 was USD 11.6 million, an increase from first quarter fiscal 2017
gross margin of USD 6.7 million.
Capital Cubethen looked at the
Gross Margin Trend for Cumulus compared to the three other radio companies.
A 70 bpts YoY decline in the 1H16
gross margin was mainly driven by a 61 bpts increase in CoGS as a percentage of sales, which is no surprise given substantial price investments in 1H, and especially in 1Q16 (3.2 ppts).
More than a quarter of single stores'
gross margin dollars come from foodservice