Company Audit Template
Total Assets -$0.923 billion
Total Liabilities – $0.476 billion
Total Equity – $0.447 billion
Total Revenue – $1.185 billion
Gross Profit - $0.462 billion
Net Profit(loss) - ($0.419 billion)
Cash from Operations-($0.108 billion)
PricewaterhouseCoopers LLP audits the company
Chief Financial Officer -Brian McGee
No
«The year-over-year decline in total revenues during 2016 compared to 2015 was due to a 28% decrease in units shipped, reflecting global channel unit sell-through that exceeded sell-in for the first three quarters of 2016 as we worked to reduce channel inventory in preparation for the launch of HERO5 in September 2016. In addition, our revenue in the first half of 2015 benefited from the launch of our HERO4 cameras preceding the 2014 holiday season, whereas there was no major product introduction near the end of 2015. Revenue increased sequentially each quarter of 2016, with the fourth quarter comprising 46% of total 2016 revenue, reflecting the launch of HERO5 cameras and new mounts and accessories preceding the holiday shopping season. The average selling price of units shipped, defined as total revenue divided by unit shipments, increased 1% year-over-year. We recognized no revenue in 2016 for our Karma …
