 |
|
(In thousands, except share data)
| |
March 31, |
| ASSETS |
2002 |
2001 |
|
| CURRENT ASSETS: |
|
|
| Cash and cash equivalents |
$ 97 |
$ 2,337 |
Accounts receivable (net of allowance for doubtful accounts of
$391 and $30 in 2002 and 2001, respectively) |
11,654 |
13,015 |
| Inventories |
23,695 |
19,957 |
| Prepaid expenses and other current assets |
1,111 |
891 |
| Income tax receivable |
7,600 |
5,600 |
| Deferred income taxes |
1,538 |
1,512 |
| Assets held for sale |
38,486 |
307,014 |
|
| Total current assets |
84,181 |
350,326 |
|
| PROPERTY: |
|
|
| Land |
2,879 |
3,566 |
| Buildings |
5,438 |
5,425 |
| Machinery and equipment |
7,185 |
7,077 |
| Furniture and fixtures |
3,685 |
3,619 |
| Leasehold improvements |
195 |
196 |
|
| Total |
19,382 |
19,883 |
| Less accumulated depreciation and amortization |
11,572 |
10,581 |
|
| Property - net |
7,810 |
9,302 |
|
| OTHER ASSETS: |
|
|
Costs in excess of net assets of acquired businesses (net of accumulated
amortization of $1,171 and $953 in 2002 and 2001, respectively) |
10,584 |
10,805 |
| Deferred income taxes |
29,266 |
11,360 |
| Other |
10,301 |
11,456 |
|
| Total other assets |
50,151 |
33,621 |
|
| TOTAL |
$ 142,142 |
$ 393,249 |
|
|
|
|
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) |
|
|
|
| CURRENT LIABILITIES: |
|
|
| Callable long-term debt |
$ -- |
$ 271,307 |
| Current portion of long-term debt |
-- |
88 |
| Accounts payable - trade |
6,433 |
5,858 |
| Accrued compensation |
2,989 |
3,479 |
| Accrued income taxes |
449 |
3,194 |
| Liabilities of discontinued businesses |
18,011 |
38,932 |
| Other current liabilities |
14,539 |
8,364 |
|
| Total current liabilities |
42,421 |
331,222 |
|
| LONG-TERM DEBT PAYABLE TO BANKS AND OTHERS |
107,564 |
658 |
|
| DEFERRED INCOME TAXES |
1,188 |
5,298 |
|
| OTHER LONG-TERM LIABILITIES |
7,176 |
4,196 |
|
| COMMITMENTS AND CONTINGENCIES (Notes 11 and 12) |
|
|
|
| STOCKHOLDERS' EQUITY (DEFICIT): |
|
|
| Preferred stock - authorized, 300,000 shares; none issued |
|
|
Common stock - authorized, 14,700,000 shares of $.01 par value, issued,
6,739,264 and 6,718,614 shares in 2002 and 2001, respectively |
67 |
67 |
| Additional paid-in capital |
78,286 |
78,091 |
| Notes receivable from officers |
(123) |
(191) |
| Accumulated deficit |
(82,227) |
(10,446) |
| Accumulated other comprehensive (loss) |
(2,888) |
(6,323) |
| Unearned compensation |
(236) |
(253) |
|
|
(7,121) |
60,945 |
Less treasury stock, at cost - 548,186 and 546,428 shares in 2002 and
2001, respectively |
(9,086) |
(9,070) |
|
| Total stockholders' equity (deficit) |
(16,207) |
51,875 |
|
| TOTAL |
$ 142,142 |
$ 393,249 |
|
See notes to consolidated financial statements.
|
|
|
|
