ROCK-TENN COMPANY

 

ROCK-TENN COMPANY

 

2002 Annual Report and Form 10-K

TABLE OF CONTENTS:  




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Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Consolidated Statements of Operations

Year Ended September 30,
 

 

2002

 

2001

 

2000
(In thousands, except per share data)
Net sales $1,436,547   $1,441,632   $1,463,288  
Cost of goods sold 1,145,524   1,151,161   1,181,882  
 
Gross profit 291,023   290,471   281,406  
Selling, general and administrative expenses 189,736   173,920   170,916  
Amortization of goodwill ---   8,569   9,069  
Plant closing and other costs 18,237   16,893   65,630  
 
Income from operations 83,050   91,089   35,791  
Interest expense (26,399)   (35,042)   (35,575)  
Interest and other income 456   530   418  
Loss from unconsolidated joint venture (318)   (2,004)   ---  
Minority interest in income of consolidated subsidiary (2,971)   (2,439)   (4,980)  
 
Income (loss) before income taxes 53,818   52,134   (4,346)  
Provision for income taxes 21,348   21,897   11,570  
 
Income (loss) before cumulative effect of a change in accounting
      principle
32,470   30,237   (15,916)  
Cumulative effect of a change in accounting principle (net of
      $2,368 and $179 income taxes)
(5,844)   286   ---  
 
 
Net income (loss) $ 26,626   $ 30,523   $ (15,916)  
 
Basic earnings (loss) per share $ 0.79   $ 0.92   $ (0.46)  
 
Diluted earnings (loss) per share $ 0.77   $ 0.91   $ (0.46)  

See accompanying notes.





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