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<br />. TLC ENGINEERING FOR ARCHITECTURE, INC.
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<br />. ST A TEMENTS OF OPERA TIONS
<br />,. For the Years Ended December 31, 2008 and 2007
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<br />I@ 2008 2007
<br />@ (Consolidated) (Unconsolidated)
<br />~ CONTRACT FEES $ 54,685,784 $ 55,433,592
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<br />'8 DIRECT COST OF CONTRACT FEES 22,763,972 21,584,178
<br />Ii
<br />@ GROSS PROFIT 31,921,812 33,849,414
<br />. EXPENSES:
<br />. General and administrative 29,662,599 31,788,224
<br />, Depreciation and amortization 1,201,383 1,071,899
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<br />" TOTAL EXPENSES 30,863,982 32,860,123
<br />, INCOME FROM OPERA TIONS
<br />, 1,057,830 989,291
<br />, OTHER EXPENSES:
<br />" Interest expense 265,476 355,747
<br />, Loss on disposal of property and equipment 29,295
<br />, TOTAL OTHER EXPENSES 265,476 385,042
<br />II:
<br />, INCOME BEFORE PROVISION
<br />, FOR INCOME TAXES 792,354 604,249
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<br />, PROVISION FOR INCOME TAXES 431,515 241,700
<br />, NET INCOME $ 360,839 $ 362,549
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<br /> . See independent acCOuntant I s review report
<br /> , and notes to financial stacements.
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