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SEMA Chairman Jim Cozzie (left), Chairman-Elect Rick Rollins and President/CEO Chris Kersting (right) discussed industry challenges, such as legislation and vehicle technology, at the State of the Association presentation, February 7.

Discover how SEMA can help specialty-equipment market businesses in 2008 by listening to the State of the Association presentation, delivered Thursday, February 7, at 12:00 p.m. (EST) during the SEMA Spring Expo/SEMA OFFROAD in Indianapolis. Those who were unable to tune in to the live presentation can download an archived audio file of the presentation next week. Visit for details.

Held annually, the State of the Association traditionally features SEMA executives discussing current programs and informing members about what to expect in the coming year. The 2008 program featured a new format, with television personality and current SEMA Board member Dennis Gage moderating the hour-long presentation. Gage was joined by SEMA Chairman Jim Cozzie, Chairman-Elect Rick Rollins and President and CEO Chris Kersting, who explained what the association is doing to assist members in overcoming today’s tough economic challenges.

Kersting discussed several association initiatives, including the importance of technology-based partnerships with OEMs and urged members to get more active in the SEMA Political Action Committee (PAC). Meanwhile, Cozzie discussed the importance of industry education and supporting the jobber base during a challenging economic climate.

"The thing about this industry is no one ever lays down," Cozzie said. "Everyone in this industry has the attitude of 'it's just another speed bump in the road. We have to get by it.'"

The audio presentation of the 2008 SEMA State of the Association will be available online next week at

Also, don't miss next month's featured webinar:

Analyzing the Income Statement: The Nuts and Bolts
Thursday, March 6, 2008, 10:00 a.m. (PST)
Speaker: Gary Naples, Freelance Associates Inc.

Are you making or losing money? Are your expenses in line with sales or excessive? Is your gross profit retention covering your expenses while providing a reasonable return for your efforts? How can you tell? Passion for the business you’re involved in aside, it’s the bottom line that makes the difference. The income statement is a vital device for reading your business' financial tea leaves.

It’s one of the important management tools that help you determine your business' financial success or lack thereof. For most managers and owners it’s a “score card” of the operational efforts they are responsible for during any one given period of time: a month, three months, one year. A solid understanding of what the financial statement is, what it includes, how to read it and use it is essential to your ongoing success.

  • Learn the basic income statement structure.
  • Understand the different elements of the income statement and their relationship to each other.
  • Discover how net profit is affected by sales, gross profit and expenses.
  • Learn three effective methods for income statement analysis.