PPT Slide
Net Income Before One-time Gain and Charges
Note: The full year 2002 operating results excludes a one-time pre-tax gain of $0.2 million from the sale of the Company’s former corporate headquarters, one-time pre-tax charges totaling $36.6 million to markdown discontinued inventory for liquidation ($9.2 million), to rationalize its manufacturing invested capital ($12.0 million), to record severance costs ($3.5 million), to recognize the cumulative effect of an accounting change for the write-off of impaired goodwill ($7.3 million or $4.6 million net of tax) and to record an extraordinary charge related to the early termination of debt ($4.6 million or $2.9 million net of tax) and a tax charge of $0.9 million to record an allowance for the realization of deferred state taxes generated by the previously referenced pre-tax charges of $36.6 million.