Saccharin from China - USITC

2008, both of these forms of saccharin represented *** of PMC’s reported saccharin sales. PMC’sfinancial data were reported on the basis of a calendar year. PMC reported ***. 40Operations on SaccharinIncome-and-loss data for PMC on its operations on saccharin are presented in table III-11. Thedomestic producer reported *** during the first four periods of review, followed by an *** in 2007 and a*** in 2008. Net sales (quantity and value), the cost of goods sold (“COGS”), and selling, general, andadministrative (“SG&A”) expenses all *** during the period of review. In particular, 2008 net sales(quantity and value) were ***. Per-pound revenues *** from 2003 to 2007, then *** in 2008. 41 Perpoundoperating costs and expenses (COGS and SG&A expenses combined) followed a similar pattern of*** from 2003 to 2007, followed by a *** in 2008.Table III-11Saccharin: Results of operations of U.S. producer PMC, 2003-08* * * * * * *From 2007 to 2008, per-pound raw material costs ***, which resulted from ***. *** in per-pound directlabor ($***), other factory costs ($***), and SG&A expenses ($***) during this time were also ***. 42Despite the *** in sales quantities, profitability *** from 2003 to 2007 before *** in 2008. The43 44*** operating margin reported in 2003 *** to a *** in 2007, then *** from the 2007 value.Capital Expenditures and Research and Development ExpensesPMC’s data on capital expenditures and research and development (“R&D”) expenses are shownin table III-12. Capital expenditures were ***, and ranged from $***. In contrast, R&D expenses were*** and generally *** during the review period. According to PMC, its capital expenditures primarilyreflect ***. R&D expenses primarily reflect ***. 45Table III-12Saccharin: Capital expenditures and research and development expenses of U.S. producer PMC,2003-08* * * * * * *Assets and Return on InvestmentThe Commission’s questionnaire requested data on assets used in the production, warehousing,and sale of saccharin to compute return on investment (“ROI”). Although ROI can be computed in many40Commission staff verified the U.S. producers’ questionnaire response of PMC, and the results of theverification are incorporated in this report.41***.42E-mail correspondence from ***, February 27, 2009, and confirmed during verification.43***. E-mail correspondence from ***, February 27, 2009, and confirmed during verification.44Due to the *** in 2008 as compared to the prior review periods, a variance analysis is not shown in this report.45E-mail correspondence from ***, February 27, 2009, and confirmed during verification.III-6