| |
|
|
|
|
|
|
|
|
|
|
|
|
| (Dollars in thousands, except
per share amounts) |
2000 |
1999 |
1998 |
1997 |
1996 |
1995 |
 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| SUMMARY OF OPERATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
$ |
1,265,838 |
$ |
1,326,681 |
$ |
1,299,615 |
$ |
867,842 |
$ |
841,816 |
$ |
787,605 |
| Cost of products sold |
|
781,932 |
|
819,173 |
|
803,588 |
|
505,545 |
|
502,456 |
|
506,228 |
|
| Gross margin |
|
483,906 |
|
507,508 |
|
496,027 |
|
362,297 |
|
339,360 |
|
281,377 |
| Engineering and research |
|
10,289 |
|
8,875 |
|
9,012 |
|
8,626 |
|
7,292 |
|
7,194 |
| Selling and administrative |
|
354,542 |
|
344,388 |
|
332,252 |
|
220,265 |
|
205,010 |
|
187,392 |
| Depreciation and amortization |
|
54,694 |
|
50,858 |
|
45,027 |
|
27,446 |
|
25,814 |
|
21,260 |
| Asset impairments |
|
73,746 |
|
- |
|
- |
|
- |
|
- |
|
- |
| Restructuring costs |
|
24,633 |
|
- |
|
- |
|
- |
|
- |
|
- |
| Interest |
|
12,691 |
|
13,850 |
|
14,044 |
|
288 |
|
532 |
|
974 |
| Income taxes (benefits) |
|
(17,514) |
|
33,797 |
|
38,679 |
|
41,949 |
|
41,710 |
|
26,126 |
|
| Income (loss) from continuing
operations |
|
(29,175) |
|
55,740 |
|
57,013 |
|
63,723 |
|
59,002 |
|
38,431 |
| Income (loss) from discontinued operations |
|
- |
|
(509) |
|
2,570 |
|
3,171 |
|
4,155 |
|
9,328 |
| Gain on sale of discontinued operations |
|
- |
|
15,670 |
|
- |
|
- |
|
- |
|
- |
|
| Net income (loss) |
$ |
(29,175) |
$ |
70,901 |
$ |
59,583 |
$ |
66,894 |
$ |
63,157 |
$ |
47,759 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| DILUTED PER SHARE DATA |
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from continuing operations |
$ |
(1.06) |
$ |
1.98 |
$ |
1.99 |
$ |
2.22 |
$ |
2.05 |
$ |
1.34 |
| Income (loss) from discontinued operations |
|
- |
|
(0.02) |
|
0.09 |
|
0.11 |
|
0.14 |
|
0.33 |
| Gain on sale of discontinued operations |
|
- |
|
0.56 |
|
- |
|
- |
|
- |
|
- |
|
| Net income (loss) |
$ |
(1.06) |
$ |
2.52 |
$ |
2.08 |
$ |
2.33 |
$ |
2.19 |
$ |
1.67 |
|
| Dividends paid |
|
0.92 |
|
0.88 |
|
0.84 |
|
0.80 |
|
0.76 |
|
0.72 |
|
| Shareholders' equity |
|
17.92 |
|
19.82 |
|
18.35 |
|
17.17 |
|
15.80 |
|
14.36 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| YEAR-END FINANCIAL DATA |
|
|
|
|
|
|
|
|
|
|
|
|
| Current ratio |
|
4.3 to 1 |
|
4.2 to 1 |
|
3.6 to 1 |
|
3.5 to 1 |
|
4.0 to 1 |
|
3.4 to 1 |
| Working capital |
$ |
370,671 |
$ |
363,643 |
$ |
343,439 |
$ |
271,799 |
$ |
259,148 |
$ |
231,958 |
| Plant and equipment |
|
310,218 |
|
328,143 |
|
368,161 |
|
260,035 |
|
235,958 |
|
215,974 |
| Total assets |
|
902,606 |
|
961,639 |
|
985,077 |
|
647,018 |
|
588,113 |
|
555,503 |
| Long-term debt |
|
202,930 |
|
203,520 |
|
234,075 |
|
4,600 |
|
4,600 |
|
4,600 |
| Shareholders' equity |
|
494,154 |
|
541,731 |
|
520,965 |
|
487,935 |
|
453,246 |
|
411,217 |
| OTHER DATA |
|
|
|
|
|
|
|
|
|
|
|
|
| Number of shares outstanding at year-end |
|
27,575,804 |
27,339,452 |
28,388,636
|
28,418,364
|
28,689,906
|
28,639,312
|
| Number of employees |
|
8,022 |
|
8,208 |
|
8,682 |
|
6,440 |
|
6,445 |
|
6,439 |
| Capital expenditures |
$ |
65,792 |
$ |
67,567 |
$ |
65,733 |
$ |
61,287 |
$ |
57,783 |
$ |
48,332 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
