XTRA Bitcoin (XTRA Bitcoin) Operating Income : $-0.39 Mil (TTM As of Dec. 2011)

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What is XTRA Bitcoin Operating Income?

XTRA Bitcoin's Operating Income for the three months ended in Dec. 2011 was $-0.21 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2011 was $-0.39 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. XTRA Bitcoin's Operating Income for the three months ended in Dec. 2011 was $-0.21 Mil. XTRA Bitcoin's Revenue for the three months ended in Dec. 2011 was $0.00 Mil. Therefore, XTRA Bitcoin's Operating Margin % for the quarter that ended in Dec. 2011 was %.

XTRA Bitcoin's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. XTRA Bitcoin's annualized ROC % for the quarter that ended in Dec. 2011 was -417.56%. XTRA Bitcoin's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2011 was -154,400.00%.

XTRA Bitcoin Operating Income Historical Data

The historical data trend for XTRA Bitcoin's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

XTRA Bitcoin Operating Income Chart

XTRA Bitcoin Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Operating Income

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-1.42

-0.65

-0.39

XTRA Bitcoin Quarterly Data
	Dec06	Sep07	Dec07	Mar08	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11
Operating Income	Get a 7-Day Free Trial														-0.41	-	-0.18	-	-0.21

XTRA Bitcoin Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2011 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.39 Mil.

XTRA Bitcoin (OTCPK:CBTC) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

XTRA Bitcoin's annualized ROC % for the quarter that ended in Dec. 2011 is calculated as:

	ROC % (Q: Dec. 2011 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2011 )	+	Invested Capital (Q: Dec. 2011 ))	/ count )
=	-0.856 * ( 1 - 0% )	/	( (0.205	+	0.205)	/ 2 )
=	-0.856	/	0.205
=	-417.56 %

where

	Invested Capital		(Q: Sep. 2011 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	0.091	-	0.172	-	( 0	-	max(0, 0.377	-	0.091	+	0	))
=	0.205

	Invested Capital		(Q: Dec. 2011 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	0.091	-	0.178	-	( 0	-	max(0, 0.383	-	0.091	+	0	))
=	0.205

Note: The Operating Income data used here is four times the quarterly (Dec. 2011) data.

2. Joel Greenblatt's definition of Return on Capital:

XTRA Bitcoin's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2011 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2011 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2011		Q: Dec. 2011
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-0.772	/	( ( (0.001 + max(-0.081, 0))	+	(0 + max(-0.087, 0)) )	/	2 )
=	-0.772	/	( ( 0.001	+	0 )	/	2 )
=	-0.772	/	0.0005
=	-154,400.00 %

where Working Capital is:

	Working Capital		(Q: Sep. 2011 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.057	+	0	+	0.034)	-	(0.172	+	0	+	0)
=	-0.081

	Working Capital		(Q: Dec. 2011 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.057	+	0	+	0.034)	-	(0.178	+	0	+	0)
=	-0.087

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2011) EBIT data.

3. Operating Income is also linked to Operating Margin %:

XTRA Bitcoin's Operating Margin % for the quarter that ended in Dec. 2011 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2011 )	/	Revenue (Q: Dec. 2011 )
	=	-0.214	/	0
	=	%

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

XTRA Bitcoin Operating Income Related Terms

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