| |
 |
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31,
Revenue |
|
2003 |
|
|
|
2002 |
|
|
|
2001 |
|
| Operating |
$ |
13,892,604 |
|
|
$ |
13,117,562 |
|
|
$ |
13,755,926 |
|
| Interest and other income |
|
166,493 |
|
|
|
139,068 |
|
|
|
242,258 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
14,059,097 |
|
|
|
13,256,630 |
|
|
|
13,998,184 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold and services |
|
11,419,873 |
|
|
|
13,525,742 |
|
|
|
10,816,096 |
|
| Research & engineering |
|
556,124 |
|
|
|
595,675 |
|
|
|
653,928 |
|
| Marketing |
|
350,996 |
|
|
|
353,622 |
|
|
|
396,312 |
|
| General |
|
662,224 |
|
|
|
640,641 |
|
|
|
660,092 |
|
| Debt extinguishment costs |
|
167,801 |
|
|
|
– |
|
|
|
– |
|
| Interest |
|
334,336 |
|
|
|
367,973 |
|
|
|
384,896 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
13,491,354 |
|
|
|
15,483,653 |
|
|
|
12,911,324 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (Loss) from continuing operations before taxes and minority interest |
|
567,743 |
|
|
|
(2,227,023 |
) |
|
|
1,086,860 |
|
| Taxes on income |
|
209,386 |
|
|
|
282,070 |
|
|
|
564,461 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (Loss) from continuing operations before minority interest |
|
358,357 |
|
|
|
(2,509,093 |
) |
|
|
522,399 |
|
| Minority interest |
|
114,200 |
|
|
|
91,879 |
|
|
|
(28,545 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| Income (Loss) from Continuing Operations |
|
472,557 |
|
|
|
(2,417,214 |
) |
|
|
493,854 |
|
| Income (Loss) from Discontinued Operations |
|
(89,555 |
) |
|
|
97,219 |
|
|
|
28,363 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income (Loss) |
$ |
383,002 |
|
|
$ |
(2,319,995 |
) |
|
$ |
522,217 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
| Income (Loss) from Continuing Operations |
$ |
0.81 |
|
|
$ |
(4.18 |
) |
|
$ |
0.86 |
|
| Income (Loss) from Discontinued Operations |
|
(0.15 |
) |
|
|
0.17 |
|
|
|
0.05 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income (Loss) |
|
0.66 |
|
|
|
(4.01 |
) |
|
|
0.91 |
|
| Add back amortization of goodwill |
|
– |
|
|
|
– |
|
|
|
0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjusted earnings (loss) per share |
$ |
0.66 |
|
|
$ |
(4.01 |
) |
|
$ |
1.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
| Income (Loss) from Continuing Operations |
$ |
0.81 |
|
|
$ |
(4.18 |
) |
|
$ |
0.85 |
|
| Income (Loss) from Discontinued Operations |
|
(0.15 |
) |
|
|
0.17 |
|
|
|
0.06 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income (Loss) |
|
0.66 |
|
|
|
(4.01 |
) |
|
|
0.91 |
|
| Add back amortization of goodwill |
|
– |
|
|
|
– |
|
|
|
0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjusted earnings (loss) per share |
$ |
0.66 |
|
|
$ |
(4.01 |
) |
|
$ |
1.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Average shares outstanding |
|
583,904 |
|
|
|
578,588 |
|
|
|
574,328 |
|
| Average shares outstanding assuming dilution |
|
586,491 |
|
|
|
578,588 |
|
|
|
580,214 |
|
|
|
