 |
|
(In thousands, except share data)
| |
Years ended March 31, |
| |
2002 |
2001 |
2000 |
|
| Net sales |
$ 72,285 |
$ 70,481 |
$ 60,836 |
| Cost of sales |
39,893 |
40,554 |
35,743 |
|
| Gross profit |
32,392 |
29,927 |
25,093 |
| General, administrative and selling expenses |
20,030 |
23,679 |
19,126 |
| Interest expense |
8,055 |
4,869 |
2,947 |
| Interest income |
(69) |
(95) |
(339) |
| Other income - net |
(1,537) |
(61) |
(651) |
| Forbearance fees |
2,651 |
-- |
-- |
| Corporate office restructuring charge |
1,629 |
11,165 |
-- |
|
| Income (loss) from continuing operations before income taxes |
1,633 |
(9,630) |
4,010 |
| Provision (benefit) for income taxes |
860 |
(3,584) |
1,524 |
|
| Income (loss) from continuing operations |
773 |
(6,046) |
2,486 |
Discontinued operations:
Income from sale of businesses and income (loss) from
operations of discontinued businesses (less applicable
income taxes (benefits) of $8,012, ($7,268), and $2,849
for 2002, 2001 and 2000 respectively.) |
16,414 |
(66,924) |
4,649 |
Loss on disposal of discontinued businesses including
provision of $5,945 for operating losses during phase out
periods (less applicable income tax (benefits) of ($42,497) |
(88,968) |
-- |
-- |
|
| (Loss) income before extraordinary charge |
(71,781) |
(72,970) |
7,135 |
Extraordinary charge for refinancing of debt (net of
applicable tax benefits of $339 for 2000) |
-- |
-- |
(541) |
|
| Net (loss) income |
$ (71,781) |
$ (72,970) |
$ 6,594 |
|
Earnings (loss) per share:
Basic:
Income (loss) from continuing operations |
$ 0.13 |
$ (0.98) |
$ 0.40 |
| (Loss) income from discontinued operations |
(11.74) |
(10.85) |
(0.76) |
| Extraordinary charge for refinancing of debt |
-- |
-- |
(0.09) |
|
| Net (loss) income per share |
$ (11.61) |
$ (11.83) |
$ 1.07 |
|
Diluted:
Income (loss) from continuing operations |
$ 0.12 |
$ (0.98) |
$ 0.40 |
| (Loss) income from discontinued operations |
(11.64) |
(10.85) |
0.76 |
| Extraordinary charge for refinancing of debt |
-- |
-- |
(0.09) |
|
| Net (loss) income per share |
$ (11.52) |
$ (11.83) |
$ 1.07 |
|
| Weighted - average basic shares outstanding |
6,181,000 |
6,167,000 |
6,139,000 |
| Weighted - average diluted shares outstanding |
6,233,000 |
6,167,000 |
6,150,000 |
|
See notes to consolidated financial statements.
|
|
|
|
