USITC Staff Report: Quartz Surfaces from India and Turkey staff report USITC | Page 146

***. 19
By definition, items classified at this level in the income statement only affect net
income or (loss). With respect to U.S. producers, net income increased from 2017 to 2019 and
net income margin (net income as a ratio to net sales) increased from *** percent in 2017 to
*** percent in 2018 and *** percent in 2019 (see table VI-1). 20
With respect to independent fabricators, net income declined from 2017 to a net loss in
2019 and net income margin declined from *** percent in 2017 to *** percent in 2018 and ***
percent in 2019 (see table VI-3). 21
Capital expenditures and research and development expenses
Table VI-10 presents capital expenditures and research and development (“R&D”)
expenses by company. Capital expenditures for both U.S. producers and independent
fabricators irregularly declined from 2017 to 2019. ***. 22 R&D expenses for U.S. producers
increased from 2017 to 2019. Independent fabricators did not report R&D expenses during the
reporting period.
19
***. Email from ***, March 20, 2020.
20
Net income and net income margin excluding *** for U.S. producers in 2018 are $*** and ***
percent, respectively.
21
A variance analysis is not presented in this report due to ***. These factors make the analysis less
meaningful.
22
U.S. producers’ questionnaire responses of ***, question III-13.
VI-20