Management’s Discussion and Analysis
of Financial Condition and Results of Operations
of Financial Condition and Results of Operations
Results of Operations
The following table sets forth certain statements of operations data expressed as a percentage of net sales for the periods indicated:
| Fiscal Years Ended April | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2006 | 2005 | 2004 | |||||||||
| Net sales | 100.0 | % | 100.0 | % | 100.0 | % | |||||
| Cost of products sold | 82.6 | 83.4 | 82.3 | ||||||||
| Gross profit | 17.4 | 16.6 | 17.7 | ||||||||
| Operating expenses | (15.9 | ) | (17.7 | ) | (14.5 | ) | |||||
| Other operating expenses, net | (0.2 | ) | (0.8 | ) | 0.2 | ||||||
| Operating income (loss) | 1.2 | (1.8 | ) | 3.3 | |||||||
| Other income (expense) Investment income |
0.2 | 0.1 | 0.1 | ||||||||
| Interest expense | (1.2 | ) | (1.2 | ) | (1.8 | ) | |||||
| Other, net | — | (0.1 | ) | (0.1 | ) | ||||||
| Income (loss) from continuing operations before income taxes |
0.2 | (3.0 | ) | 1.5 | |||||||
| Provision for income taxes | (0.5 | ) | (0.1 | ) | (0.8 | ) | |||||
| Net income (loss) from continuing operations | (0.2 | ) | (3.1 | ) | 0.7 | ||||||
| Discontinued operations | (0.9 | ) | (3.7 | ) | (1.7 | ) | |||||
| Net loss | (1.2 | )% | (6.8 | )% | (0.9 | )% | |||||