PART II
ITEM 6: SELECTED FINANCIAL DATA
 |
| FISCAL YEARS ENDED |
APRIL 1, 2001 |
MARCH 26, 2000 |
MARCH 28, 1999 |
MARCH 29, 1998 |
MARCH 28, 1997 |
|
| STATEMENT OF INCOME DATA |
|
|
|
|
|
|
|
|
|
|
| Revenues |
$ |
258,769,800 |
$ |
196,830,300 |
$ |
160,582,200 |
$ |
131,658,200 |
$ |
147,086,000 |
| Cost of goods sold |
|
188,271,200 |
|
142,523,000 |
|
118,535,300 |
|
95,858,800 |
|
109,817,800 |
|
| Gross profit |
|
70,498,600 |
|
54,307,300 |
|
42,046,900 |
|
35,799,400 |
|
37,268,200 |
|
| Selling, general and administrative expenses |
|
59,953,000 |
|
44,027,400 |
|
36,793,500 |
|
29,662,200 |
|
29,183,200 |
| Asset impairment and restructuring charge |
|
- |
|
- |
|
831,000 |
|
- |
|
310,200 |
|
| Income from operations |
|
10,545,600 |
|
10,279,900 |
|
4,422,400 |
|
6,137,200 |
|
7,774,800 |
| Interest and other expense, net |
|
2,039,100 |
|
1,340,300 |
|
1,240,800 |
|
712,600 |
|
982,100 |
|
| Income before provision for income taxes |
|
8,506,500 |
|
8,939,600 |
|
3,181,600 |
|
5,424,600 |
|
6,792,700 |
| Provision for income taxes |
|
3,232,500 |
|
3,397,000 |
|
1,209,200 |
|
2,049,000 |
|
2,614,800 |
|
| Net income |
$ |
5,274,000 |
$ |
5,542,600 |
$ |
1,972,400 |
$ |
3,375,600 |
$ |
4,177,900 |
|
| Diluted earnings per share |
$ |
1.13 |
$ |
1.20 |
$ |
0.43 |
$ |
0.73 |
$ |
0.89 |
| Diluted weighted average shares outstanding |
|
4,682,600 |
|
4,599,500 |
|
4,600,100 |
|
4,610,300 |
|
4,703,800 |
|
| PERCENTAGE OF REVENUES |
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
100.0% |
|
100.0% |
|
100.0% |
|
100.0% |
|
100.0% |
| Cost of goods sold |
|
72.8 |
|
72.4 |
|
73.8 |
|
72.8 |
|
74.7 |
|
| Gross profit |
|
27.2 |
|
27.6 |
|
26.2 |
|
27.2 |
|
25.3 |
|
| Selling, general and administrative expenses |
|
23.2 |
|
22.4 |
|
22.9 |
|
22.5 |
|
19.8 |
| Asset impairment and restructuring charge |
|
- |
|
- |
|
0.5 |
|
- |
|
0.2 |
|
| Income from operations |
|
4.1 |
|
5.2 |
|
2.8 |
|
4.7 |
|
5.3 |
| Interest and other expense, net |
|
0.8 |
|
0.7 |
|
0.8 |
|
0.5 |
|
0.7 |
|
| Income before provision for income taxes |
|
3.3 |
|
4.5 |
|
2.0 |
|
4.1 |
|
4.6 |
| Provision for income taxes |
|
1.3 |
|
1.7 |
|
0.8 |
|
1.6 |
|
1.8 |
|
| Net income |
|
2.0% |
|
2.8% |
|
1.2% |
|
2.5% |
|
2.8% |
|
| SELECTED OPERATING DATA |
|
|
|
|
|
|
|
|
|
|
| Average commercial buyers per month |
|
8,700 |
|
8,000 |
|
7,500 |
|
7,000 |
|
6,200 |
| Average consumer buyers per month |
|
15,600 |
|
14,100 |
|
12,200 |
|
3,700 |
|
1,700 |
| Total orders shipped |
|
760,000 |
|
645,000 |
|
426,500 |
|
302,000 |
|
255,400 |
| Revenues per employee |
$ |
493,800 |
$ |
507,300 |
$ |
462,100 |
$ |
454,000 |
$ |
584,000 |
|
| BALANCE SHEET DATA |
|
|
|
|
|
|
|
|
|
|
| Working capital |
$ |
30,826,100 |
$ |
28,232,100 |
$ |
23,050,700 |
$ |
22,270,100 |
$ |
21,331,300 |
| Total assets |
|
87,413,500 |
|
84,443,100 |
|
63,062,400 |
|
59,926,900 |
|
50,915,300 |
| Short-term debt |
|
10,365,500 |
|
6,194,900 |
|
4,690,200 |
|
294,000 |
|
416,900 |
| Long-term debt |
|
6,441,200 |
|
6,795,800 |
|
7,128,700 |
|
7,441,400 |
|
7,637,900 |
| Shareholders' equity |
|
46,739,200 |
|
41,082,200 |
|
35,456,700 |
|
33,391,500 |
|
29,371,600 |
|
QUARTERLY RESULTS OF OPERATIONS
| |
Fiscal 2001 Quarters Ended |
Fiscal 2000 Quarters Ended |
|
| |
APRIL 1, 2001 |
DEC. 24, 2000 |
SEPT. 24, 2000 |
JUNE 25, 2000 |
MARCH 26, 2000 |
DEC. 26, 1999 |
SEPT. 26, 1999 |
JUNE 27, 1999 |
|
| Revenues |
$ |
59,988,000 |
$ |
69,657,200 |
$ |
66,602,100 |
$ |
62,522,500 |
$ |
56,253,300 |
$ |
52,436,300 |
$ |
44,612,900 |
$ |
43,527,800 |
| Cost of goods sold |
|
43,628,600 |
|
50,321,500 |
|
48,622,000 |
|
45,699,100 |
|
40,767,600 |
|
37,920,700 |
|
31,932,300 |
|
31,902,400 |
|
| Gross profit |
|
16,359,400 |
|
19,335,700 |
|
17,980,100 |
|
16,823,400 |
|
15,485,700 |
|
14,515,600 |
|
12,680,600 |
|
11,625,400 |
|
| Selling, general and administrative
expenses |
|
15,447,300 |
|
16,105,800 |
|
14,629,700 |
|
13,770,200 |
|
12,711,300 |
|
11,986,700 |
|
9,988,200 |
|
9,341,200 |
|
| Income from operations |
|
912,100 |
|
3,229,900 |
|
3,350,400 |
|
3,053,200 |
|
2,774,400 |
|
2,528,900 |
|
2,692,400 |
|
2,284,200 |
| Interest and other expense, net |
|
556,800 |
|
519,400 |
|
480,900 |
|
482,000 |
|
444,800 |
|
310,100 |
|
259,600 |
|
325,800 |
|
| Income before provision for income taxes |
|
355,300 |
|
2,710,500 |
|
2,869,500 |
|
2,571,200 |
|
2,329,600 |
|
2,218,800 |
|
2,432,800 |
|
1,958,400 |
| Provision for income taxes |
|
135,000 |
|
1,030,000 |
|
1,090,400 |
|
977,100 |
|
885,200 |
|
843,200 |
|
924,400 |
|
744,200 |
|
| Net income |
$ |
220,300 |
$ |
1,680,500 |
$ |
1,779,100 |
$ |
1,594,100 |
$ |
1,444,400 |
$ |
1,375,600 |
$ |
1,508,400 |
$ |
1,214,200 |
|
| Diluted earnings per share |
$ |
0.05 |
$ |
0.36 |
$ |
0.37 |
$ |
0.34 |
$ |
0.31 |
$ |
0.30 |
$ |
0.33 |
$ |
0.26 |
|
| PERCENTAGE OF REVENUES | | | | | | | | | | | | | | | | |
| Revenues |
|
100.0% |
|
100.0% |
|
100.0% |
|
100.0% |
|
100.0% |
|
100.0% |
|
100.0% |
|
100.0% |
| Cost of goods sold |
|
72.7 |
|
72.2 |
|
73.0 |
|
73.1 |
|
72.5 |
|
72.3 |
|
71.6 |
|
73.3 |
|
| Gross profit |
|
27.3 |
|
27.8 |
|
27.0 |
|
26.9 |
|
27.5 |
|
27.7 |
|
28.4 |
|
26.7 |
|
| Selling, general and administrative
expenses |
|
25.8 |
|
23.2 |
|
22.0 |
|
22.0 |
|
22.6 |
|
22.9 |
|
22.4 |
|
21.5 |
|
| Income from operations |
|
1.5 |
|
4.6 |
|
5.0 |
|
4.9 |
|
4.9 |
|
4.8 |
|
6.0 |
|
5.2 |
| Interest and other expense, net |
|
0.9 |
|
0.7 |
|
0.7 |
|
0.8 |
|
0.8 |
|
0.6 |
|
0.6 |
|
0.7 |
|
| Income before provision for income taxes |
|
0.6 |
|
3.9 |
|
4.3 |
|
4.1 |
|
4.1 |
|
4.2 |
|
5.5 |
|
4.5 |
| Provision for income taxes |
|
0.2 |
|
1.5 |
|
1.6 |
|
1.6 |
|
1.5 |
|
1.6 |
|
2.1 |
|
1.7 |
|
| Net income |
|
0.4% |
|
2.4% |
|
2.7% |
|
2.5% |
|
2.6% |
|
2.6% |
|
3.4% |
|
2.8% |
|
|
