| Stage | CBT | % of rev | ESI | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $982M | 100.00% | $995M | 100.00% | ESI ×1.01 |
| Gross profit | $184M | 18.74% | $342M | 34.40% | ESI +15.7pp |
| Operating income | $98M | 9.98% | $114M | 11.44% | ESI +1.5pp |
| Pre-tax income | $58M | 5.91% | $93M | 9.37% | ESI +3.5pp |
| Net income | $14M | 1.43% | $66M | 6.60% | ESI +5.2pp |
| Stage | CBT | ESI | Gap · A − B |
|---|---|---|---|
| Revenue | $982M100.00% | $995M100.00% | ESI ×1.01 |
| Gross profit | 18.74%$184M | 34.40%$342M | ESI +15.7pp |
| Operating income | 9.98%$98M | 11.44%$114M | ESI +1.5pp |
| Pre-tax income | 5.91%$58M | 9.37%$93M | ESI +3.5pp |
| Net income |
| 1.43%$14M |
| 6.60%$66M |
| ESI +5.2pp |
No disclosed counterparties: CBT, ESI.