|
 |
| (In Thousands, Except Share Data) |
December 31, |
 |
|
|
2000 |
1999 |
 |
| Assets |
|
|
| CURRENT ASSETS: |
|
|
|
Cash and cash equivalents |
$ 8,900 |
$ 18,771 |
|
Receivables, net of allowances for doubtful accounts,
returns, and |
|
|
|
|
discounts of $2,982 and $2,418 in 2000 and 1999, respectively |
93,145 |
108,819 |
|
Inventories |
110,346 |
89,770 |
|
Refundable income taxes |
3,857 |
1,985 |
|
Other current assets |
9,438 |
7,777 |
|
|
|
Total current assets |
225,686 |
227,122 |
|
| PROPERTY, PLANT AND EQUIPMENT: |
|
|
|
Land |
12,663 |
12,312 |
|
Buildings and improvements |
127,816 |
125,126 |
|
Machinery and equipment |
620,418 |
580,892 |
|
Furniture and fixtures |
12,164 |
8,984 |
|
|
|
|
773,061 |
727,314 |
|
Less accumulated depreciation |
(289,752) |
(247,458) |
|
|
|
Property, plant and equipment, net |
483,309 |
479,856 |
|
|
|
|
|
| GOODWILL, net of accumulated amortization of $16,023
and $11,712 |
|
|
|
in 2000 and 1999, respectively |
150,894 |
140,763 |
|
| INVESTMENT IN UNCONSOLIDATED AFFILIATES |
65,895 |
22,111 |
|
| OTHER ASSETS |
7,043 |
8,791 |
|
|
|
|
$ 932,827 |
$ 878,643 |
|
| Liabilities and Shareholders’
Equity |
|
|
|
|
|
|
|
| CURRENT LIABILITIES: |
|
|
|
Current maturities of debt (Note
5) |
$ 1,259 |
$ 16,615 |
|
Accounts payable |
63,752 |
62,454 |
|
Accrued liabilities |
56,531 |
43,755 |
|
Dividends payable |
4,702 |
4,572 |
|
|
|
Total current liabilities |
126,244 |
127,396 |
|
|
SENIOR CREDIT FACILITY (Note
5) |
194,000 |
140,000 |
|
|
OTHER LONG-TERM DEBT, less current maturities (Note
5) |
272,813 |
269,739 |
|
|
DEFERRED INCOME TAXES |
50,437 |
49,153 |
|
|
DEFERRED COMPENSATION |
2,315 |
3,164 |
|
|
OTHER LIABILITIES |
6,853 |
9,786 |
|
|
MINORITY INTEREST |
1,115 |
946 |
|
| COMMITMENTS AND CONTINGENCIES (Note
6) |
|
|
|
|
|
|
|
| SHAREHOLDERS’ EQUITY: |
|
|
|
Preferred stock, $.10 par value; 5,000,000 shares
authorized, no shares |
|
|
|
|
issued in 2000 and 1999 |
– |
– |
|
Common stock, $.10 par value; 60,000,000 shares
authorized, 26,204,567 and |
|
|
|
|
25,488,280 shares issued and outstanding at December 31, 2000
and |
|
|
|
|
1999, respectively |
2,620 |
2,549 |
|
Additional paid-in capital |
160,824 |
149,509 |
|
Retained earnings |
116,359 |
126,935 |
|
Accumulated other comprehensive income |
(753) |
(534) |
|
|
|
|
279,050 |
278,459 |
|
|
|
|
$ 932,827 |
$ 878,643 |
|
| The accompanying notes
are an integral part of these consolidated balance sheets. |
|
|
|
25
|
|
|
|
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