-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QoOygEhgqOLAYr3nWRzxELFwEiHQROZKOEB6O0pZ/u4HRF3QIQno5l8JrfJCPrh9 6XPEp22kBxRFv20gHoO4cw== 0000891618-98-000767.txt : 19980218 0000891618-98-000767.hdr.sgml : 19980218 ACCESSION NUMBER: 0000891618-98-000767 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19980102 FILED AS OF DATE: 19980217 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMMUNICATIONS & POWER INDUSTRIES HOLDING CORP CENTRAL INDEX KEY: 0001000654 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 770407395 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 033-96858-01 FILM NUMBER: 98541775 BUSINESS ADDRESS: STREET 1: 607 HANSEN WY CITY: PALO ALTO STATE: CA ZIP: 94304 BUSINESS PHONE: 4154934000 MAIL ADDRESS: STREET 1: 607 HANSEN WAY M/S A2000 STREET 2: P O BOX 51110 CITY: PALO ALTO STATE: CA ZIP: 94303-1110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMMUNICATIONS & POWER INDUSTRIES INC CENTRAL INDEX KEY: 0001000564 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 770405693 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 033-96858 FILM NUMBER: 98541776 BUSINESS ADDRESS: STREET 1: 607 HANSEN WAY CITY: PALO ALTO STATE: CA ZIP: 94304 BUSINESS PHONE: 4154934000 MAIL ADDRESS: STREET 1: 607 HANSEN WAY M/S A200 STREET 2: P O BOX 51110 CITY: PALO ALTO STATE: CA ZIP: 94303-1110 10-Q 1 FORM 10-Q FOR QUARTERLY PERIOD ENDED 1/2/98 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended January 2, 1998 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to_________ Commission File Number: 33-96858-01 Commission File Number: 33-96858 COMMUNICATIONS & POWER INDUSTRIES HOLDING COMMUNICATIONS & POWER INDUSTRIES, INC. CORPORATION (Exact name of registrant as specified in its (Exact name of registrant as specified in charter) its charter) DELAWARE DELAWARE (State of Incorporation) (State of Incorporation) 77-0407395 77-0405693 (I.R.S. employer identification number) (I.R.S. employer identification number) 607 HANSEN WAY 607 HANSEN WAY PALO ALTO, CALIFORNIA 94303-1110 PALO ALTO, CALIFORNIA 94303-1110 (415) 846-2900 (415) 846-2900 (Address, including zip code, and telephone (Address, including zip code, and telephone number, number, including area code, of registrant's including area code, of registrant's principal executive offices) principal executive offices) Securities registered pursuant to Section Securities registered pursuant to Section 12(b) of the Act: 12(b) of the Act: NONE NONE Securities registered pursuant to Section Securities registered pursuant to Section 12(g) of the Act: 12(g) of the Act: NONE NONE
Indicate by check mark whether each registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]. APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding for each of the Registrant's classes of Common Stock, as of the latest practicable date: COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION: 199,350 SHARES OF COMMON STOCK, $.01 PAR VALUE, AT JANUARY 2, 1998. COMMUNICATIONS & POWER INDUSTRIES, INC.: 1 SHARE OF COMMON STOCK, $.01 PAR VALUE, AT JANUARY 2, 1998. 2 COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION and subsidiaries COMMUNICATIONS & POWER INDUSTRIES INC., and subsidiaries (A wholly owned subsidiary of Communications & Power Industries Holding Corporation) PART 1: FINANCIAL INFORMATION COMMUNICATIONS AND POWER INDUSTRIES, INC. Consolidated Condensed Balance Sheets, January 2, 1998 (unaudited) and October 3, 1997...................................................................2 Consolidated Condensed Statements of Operations, 13-week period ended January 2, 1998 (unaudited) and 14-week period ended January 3, 1997 (unaudited).......................................................................3 Consolidated Condensed Statements of Cash Flows, 13-week period ended January 2, 1998 (unaudited) and 14-week period ended January 3, 1997 (unaudited).......................................................................4 Notes to Consolidated Condensed Financial Statements (unaudited)..................5 Management's Discussion and Analysis of Financial Condition and Results of Operations (Unaudited)................................................10 COMMUNICATIONS AND POWER INDUSTRIES HOLDING CORPORATION Consolidated Condensed Balance Sheets, January 2, 1998 (unaudited) and October 3, 1997...................................................................6 Consolidated Condensed Statements of Operations, 13-week period ended January 2, 1998 (unaudited) and 14-week period ended January 3, 1997 (unaudited).......................................................................7 Consolidated Condensed Statements of Cash Flows, 13-week period ended January 2, 1998 (unaudited) and 14-week period ended January 3, 1997 (unaudited).......................................................................8 Notes to Consolidated Condensed Financial Statements (unaudited)..................9 Management's Discussion and Analysis of Financial Condition and Results of Operations (Unaudited)................................................10 PART II: OTHER INFORMATION Other Information ...............................................................12 SIGNATURES...........................................................................13
-1- 3 COMMUNICATIONS & POWER INDUSTRIES, INC., and subsidiaries (A wholly owned subsidiary of Communications & Power Industries Holding Corporation) INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands - unaudited)
January 2, October 3, ASSETS 1998 1997 ------ ----------- ----------- CURRENT ASSETS Cash and cash equivalents $ 3,199 $ 2,027 Accounts receivable, net 38,928 52,326 Inventories 53,339 50,750 Deferred taxes 7,133 7,133 Other current assets 1,146 1,221 --------- --------- Total current assets 103,745 113,457 Property, plant, and equipment, net 79,322 79,994 Goodwill, net 24,125 24,144 Debt issue costs, net 7,407 7,893 Deferred taxes 11,912 11,908 Other assets 2,078 -- --------- --------- Total assets $ 228,589 $ 237,396 ========= ========= LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY (DEFICIT) ------------------------------------ CURRENT LIABILITIES Revolving credit facility $ 13,500 $ 22,800 Current portion of term loans 6,200 5,700 Current portion of capital leases 14 -- Accounts payable - trade 9,650 10,419 Accrued expenses 18,045 15,088 Product warranty 4,026 4,211 Income taxes payable 11,626 11,975 Advance payments from customers 1,981 2,797 --------- --------- Total current liabilities 65,042 72,990 Senior term loans 28,400 29,950 Senior subordinated notes 100,000 100,000 Obligations under capital leases 2,093 1,584 --------- --------- Total liabilities 195,535 204,524 --------- --------- SENIOR REDEEMABLE PREFERRED STOCK 18,308 17,566 --------- --------- Commitments and contingencies STOCKHOLDERS' EQUITY (DEFICIT): Junior Preferred Stock 1 1 Common Stock -- -- Additional paid-in capital 32,602 32,143 Accumulated deficit (16,741) (15,738) Less stockholder loans (1,116) (1,100) --------- --------- Net stockholders' equity (deficit) 14,746 15,306 --------- --------- Total liabilities, redeemable preferred stock and equity (deficit) $ 228,589 $ 237,396 ========= =========
See accompanying notes to the unaudited interim condensed consolidated financial statements. -2- 4 COMMUNICATIONS & POWER INDUSTRIES, INC., and subsidiaries (A wholly owned subsidiary of Communications & Power Industries Holding Corporation) INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands - unaudited)
13-Week 14-Week period ended period ended January 2, January 3, 1998 1997 --------- ------------ Sales $ 57,373 $ 55,322 Cost of sales 42,726 42,466 -------- -------- Gross Profit 14,647 12,856 -------- -------- Operating costs and expenses: Research and development 1,804 1,893 Marketing 4,706 4,838 General and administrative 3,166 2,670 -------- -------- Total operating costs and expenses 9,676 9,401 -------- -------- Operating income 4,971 3,455 Interest expense 4,654 4,770 -------- -------- Earnings before taxes 317 (1,315) Income tax expense 119 -- -------- -------- Net earnings (loss) 198 (1,315) Preferred dividends: Senior Redeemable Preferred Stock 689 600 Junior Preferred Stock 459 400 -------- -------- Earnings attributable to common stock $ (950) $ (2,315) ======== ========
See accompanying notes to the unaudited interim condensed consolidated financial statements. -3- 5 COMMUNICATIONS & POWER INDUSTRIES, INC., and subsidiaries (A wholly owned subsidiary of Communications & Power Industries Holding Corporation) STATEMENTS OF CASH FLOWS (in thousands - unaudited)
13-Week 14-Week period ended period ended January 2, January 3, 1998 1997 -------- --------- OPERATING ACTIVITIES Net cash provided by (used in) operating activities $ 15,409 $ 8,653 -------- -------- INVESTING ACTIVITIES Proceeds from sale of property, plant and equipment 5 -- Purchase of property, plant and equipment, net (1,162) (3,072) Purchase of businesses (2,730) -- -------- -------- Net cash used in investing activities (3,887) (3,072) -------- -------- FINANCING ACTIVITIES Net (Repayments)/Proceeds from revolving credit facility (9,300) (1,300) Net (Repayments)/Proceeds from senior term loans (1,050) (1,850) -------- -------- Net cash provided by (used in) financing activities (10,350) (3,150) -------- -------- NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,172 2,431 Cash and cash equivalents at beginning of period 2,027 1,753 ======== ======== Cash and cash equivalents at end of period $ 3,199 $ 4,184 ======== ========
See accompanying notes to the unaudited interim condensed consolidated financial statements. -4- 6 COMMUNICATIONS & POWER INDUSTRIES, INC., and subsidiaries (A wholly owned subsidiary of Communications & Power Industries Holding Corporation) NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) The accompanying unaudited interim condensed consolidated financial statements of Communications & Power Industries, Inc. ("CPI" or "Successor") have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements have been condensed or omitted and, accordingly, these financial statements should be read in conjunction with the financial statements and the notes thereto contained in CPI's October 3, 1997 Annual Report on Form 10-K. Management believes that these unaudited interim condensed financial statements contain all adjustments, all of which are of a normal, recurring nature, necessary to a fair statement of the results for the interim period presented. During the quarter ended January 2, 1998, CPI paid preferred dividends on its Senior Redeemable Preferred Stock and its Junior Preferred Stock through the issuance of 6,887 additional shares of its Senior Redeemable Preferred Stock and 4,592 shares of its Junior Preferred Stock, respectively. -5- 7 COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION and subsidiaries INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands - unaudited)
January 2, October 3, ASSETS 1998 1997 ------ --------- --------- CURRENT ASSETS Cash and cash equivalents $ 3,199 $ 2,027 Accounts receivable, net 38,928 52,326 Inventories 53,339 50,750 Deferred taxes 7,133 7,133 Other current assets 1,146 1,221 --------- --------- Total current assets 103,745 113,457 Property, plant, and equipment, net 79,322 79,994 Goodwill, net 24,125 24,144 Debt issue costs, net 7,407 7,893 Deferred taxes 11,912 11,908 Other assets 2,078 -- --------- --------- Total assets $ 228,589 $ 237,396 ========= ========= LIABILITIES, REDEEMABLE PREFERRED STOCK, PREFERRED STOCK OF SUBSIDIARY AND EQUITY (DEFICIT) - -------------------------------------------------- CURRENT LIABILITIES Revolving credit facility $ 13,500 $ 22,800 Current Portion of term loans 6,200 5,700 Current Portion of capital leases 14 -- Accounts payable - trade 9,650 10,419 Accrued expenses 18,045 15,088 Product warranty 4,026 4,211 Income taxes payable 11,626 11,975 Advance payments from customers 1,981 2,797 --------- --------- Total current liabilities 65,042 72,990 Senior term loans 28,400 29,950 Senior subordinated notes 100,000 100,000 Obligations under capital leases 2,093 1,584 --------- --------- Total liabilities 195,535 204,524 --------- --------- SENIOR REDEEMABLE PREFERRED STOCK OF SUBSIDIARY 18,308 17,566 --------- --------- JUNIOR PREFERRED STOCK OF SUBSIDIARY 12,924 12,465 --------- --------- Commitments and contingencies STOCKHOLDERS' EQUITY (DEFICIT): Common Stock 2 2 Issued - 200,000 shares Less Treasury Stock (150 shares) -- -- Additional paid-in capital 19,677 19,677 Accumulated deficit (16,741) (15,738) Less stockholder loans (1,116) (1,100) --------- --------- Net stockholders' equity (deficit) 1,822 2,841 --------- --------- Total liabilities, redeemable preferred stock, preferred stock of subsidiary and equity (deficit) $ 228,589 $ 237,396 ========= =========
See accompanying notes to the unaudited interim condensed consolidated financial statements. -6- 8 COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION and subsidiaries INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands - unaudited)
13-Week 14-Week period ended period ended January 2, January 3, 1998 1997 -------- -------- Sales $ 57,373 $ 55,322 Cost of sales 42,726 42,466 -------- -------- Gross Profit 14,647 12,856 -------- -------- Operating costs and expenses: Research and development 1,804 1,893 Marketing 4,706 4,838 General and administrative 3,166 2,670 -------- -------- Total operating costs and expenses 9,676 9,401 -------- -------- Operating income 4,971 3,455 Interest expense 4,654 4,770 -------- -------- Earnings before taxes 317 (1,315) Income tax expense 119 -- -------- -------- Net earnings (loss) 198 (1,315) Preferred dividends: Senior Redeemable Preferred Stock 689 600 Junior Preferred Stock 459 400 -------- -------- Earnings attributable to common stock $ (950) $ (2,315) ======== ========
See accompanying notes to the unaudited interim condensed consolidated financial statements. -7- 9 COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION and subsidiaries STATEMENTS OF CASH FLOWS (in thousands - unaudited)
13-Week 14-Week period ended period ended January 2, January 3, 1998 1997 -------- -------- OPERATING ACTIVITIES Net cash provided by (used in) operating activities $ 15,409 $ 8,653 -------- -------- INVESTING ACTIVITIES Proceeds from sale of property, plant and equipment 5 -- Purchase of property, plant and equipment, net (1,162) (3,072) Purchase of businesses (2,730) -- -------- -------- Net cash used in investing activities (3,887) (3,072) -------- -------- FINANCING ACTIVITIES Net (Repayments)/Proceeds from revolving credit facility (9,300) (1,300) Net (Repayments)/Proceeds from senior term loans (1,050) (1,850) -------- -------- Net cash provided by (used in) financing activities (10,350) (3,150) -------- -------- NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,172 2,431 Cash and cash equivalents at beginning of period 2,027 1,753 ======== ======== Cash and cash equivalents at end of period $ 3,199 $ 4,184 ======== ========
See accompanying notes to the unaudited interim condensed consolidated financial statements. -8- 10 COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION and subsidiaries NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) The accompanying unaudited interim condensed consolidated financial statements of Communications & Power Industries Holding Corporation ("Holding") have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements have been condensed or omitted and, accordingly, these financial statements should be read in conjunction with the financial statements and the notes thereto contained in Holding's October 3, 1997 Annual Report on Form 10-K. Management believes that these unaudited interim condensed financial statements contain all adjustments, all of which are of a normal, recurring nature, necessary to a fair statement of the results for the interim period presented. During the quarter ended January 2, 1998, CPI paid preferred dividends on its Senior Redeemable Preferred Stock and its Junior Preferred Stock through the issuance of 6,887 additional shares of its Senior Redeemable Preferred Stock and 4,592 shares of its Junior Preferred Stock, respectively. -9- 11 COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION and subsidiaries COMMUNICATIONS & POWER INDUSTRIES, INC., and subsidiaries (A wholly owned subsidiary of Communications & Power Industries Holding Corporation) MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Orders during the first quarter of Fiscal 1998 were $62.1 million as compared to $66.2 million for the first quarter of Fiscal 1997, a decrease of 6.2%. However, incoming order levels fluctuate significantly on a quarterly basis and a particular quarter's order rate may not be indicative of future order levels. In addition, the Company's sales are highly dependent upon manufacturing scheduling, performance and shipments and, accordingly, it is not possible to accurately predict when these orders will be recognized as sales. As of January 2, 1998, the Company had order backlog of $172.1 million, representing over eight months of sales, compared to order backlog of $160.3 million as of January 3, 1997. Sales for the first quarter of Fiscal 1998 were $57.4 million compared to $55.3 million for the same period in Fiscal 1997. This increase of $2.1 million, or 3.7%, was primarily the result of improved production uniformity since the first quarter of Fiscal 1998 was not disrupted by consolidation efforts that negatively impacted the first quarter of Fiscal 1997. In terms of markets, sales to the communications market, the Company's largest market, were $27.2 million, or 47.4% of total sales, compared to $24.8 million, or 44.8% of total sales, in the first quarter of Fiscal 1997. Communications sales were up by $2.4 million, or 9.8%, primarily due to demands in the area of satellite communications. Sales to the radar market, the Company's second largest market, were $16.5 million, or 28.8% of total sales, during the first quarter of Fiscal 1998 compared to $17.3 million, or 31.4% of total sales, during the same period in Fiscal 1997. This slight decrease of $.8 million, or 5.0%, was the result of timing issues as backlog for these products has increased. Sales to the Company's other four markets (electronic countermeasures, industrial, medical and scientific) were $13.7 million, or 23.8% of total sales, in the first quarter of Fiscal 1998 compared to $13.2 million, also 23.8% of total sales, in the first quarter of Fiscal 1997. Gross profit increased to $14.6 million, or 25.5% of sales, in the first quarter of Fiscal 1998 from $12.8 million, or 23.2% of sales, in the first quarter of Fiscal 1997 based on higher volume and improvements resulting from consolidation efforts. Operating costs and expenses remained within planned levels resulting in operating income of $5.0 million, or 8.7% of sales, for the first quarter of Fiscal 1998, as compared to $3.5 million, or 6.2% of sales, for the first quarter of Fiscal 1997. This increase in operating income of $1.5 million was in spite of higher depreciation costs of $.5 million. Earnings before interest, income taxes, depreciation and amortization ("EBITDA")1 for the first quarter of Fiscal 1998 was $7.7 million, or 13.3% of sales, compared to $5.7 million, or 10.3% of sales, for the first quarter of Fiscal 1997. This improvement was, as mentioned above, related to higher volume and efficiencies resulting from consolidation efforts. - -------- 1 EBITDA is presented because some investors may use it as a financial indicator of the ability to service or incur indebtedness. EBITDA should not be considered as an alternative to net earnings (loss), as a measure of operating results, cash flows or liquidity. -10- 12 COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION and subsidiaries COMMUNICATIONS & POWER INDUSTRIES, INC., and subsidiaries (A wholly owned subsidiary of Communications & Power Industries Holding Corporation) LIQUIDITY AND CAPITAL RESOURCES Cash flows provided by operating activities for the first quarter of Fiscal 1998 were $15.4 million, an increase of $6.7 million from the $8.7 million provided by operating activities during the first quarter of Fiscal 1997. The primary reasons for the increase in cash during the first quarter of Fiscal 1998 were improved earnings and strong accounts receivable collections. Operating activities funded $10.4 million of repayments against the Company's revolving credit facility during the first quarter of Fiscal 1998. Cash flows used by investing activities were comprised of expenditures for property and equipment as well as product line enhancement. During the first quarter of Fiscal 1998, the Company invested $1.2 million in new capital equipment compared to $3.1 million, including $1.2 million specifically related to consolidation efforts, spent in the first quarter of Fiscal 1997. Also during the first quarter of Fiscal 1998, the Company invested $2.7 million in two small product line acquisitions to add to products currently being manufactured in the Company's Beverly, Massachusetts and Palo Alto, California facilities. The Company's current primary source of liquidity, other than funds generated from operations, is the $35.0 million revolving credit facility provided under its senior credit agreement (of which $14.2 million was available as of January 30, 1998). Management believes that the Company will have adequate capital resources and liquidity (including cash flow from operations and borrowing under its revolving credit facility) to meet its obligations, fund all required capital expenditures and pursue its business strategy for the foreseeable future and, in any event, for the next 12 months. -11- 13 COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION and subsidiaries COMMUNICATIONS & POWER INDUSTRIES, INC., and subsidiaries (A wholly owned subsidiary of Communications & Power Industries Holding Corporation) PART II: OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS. None. ITEM 2: CHANGES IN SECURITIES None. ITEM 3. DEFAULTS UPON SENIOR SECURITIES. None. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. None. ITEM 5. OTHER INFORMATION. None. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K. (a) The following exhibits are being filed as part of this report: 27.1 Financial Data Schedule (Communications & Power Industries, Inc.) 27.2 Financial Data Schedule (Communications & Power Industries Holding Corporation) (b) Reports on Form 8-K: No reports were filed on Form 8-K during the quarter ended January 2, 1998. -12- 14 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. COMMUNICATIONS & POWER INDUSTRIES, INC. By: /s/ Al D. Wilunowski --------------------------------------- Al D. Wilunowski Chief Executive Officer and President Date: February 11, 1998 By: /s/ Lynn E. Harvey --------------------------------------- Lynn E. Harvey Chief Financial Officer, Treasurer and Secretary (Principal Financial and Accounting Officer) Date: February 11, 1998 -13- 15 EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION - ----------- ----------- 27.1 Financial Data Schedule (Communications & Power Industries, Inc.) 27.2 Financial Data Schedule (Communications & Power Industries Holding Corporation)
EX-27.1 2 FINANCIAL DATA SCHEDULE (CPI, INC.)
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND BALANCE SHEET AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FORM 10-Q COMMUNICATIONS AND POWER INDUSTRIES, INC. FOR THE QUARTER ENDED JANUARY 2, 1998 0001000564 COMMUNICATIONS & POWER INDUSTRIES, INC. 1,000 3-MOS OCT-02-1998 OCT-04-1997 JAN-02-1998 3,199 0 38,928 0 53,339 103,745 79,322 0 228,589 65,042 130,493 18,308 1 0 14,745 228,589 57,373 57,373 42,726 42,726 1,804 0 4,654 317 119 198 0 0 0 198 0 0
EX-27.2 3 FINANCIAL DATA SCHEDULE (CPI HOLDING CORPORATION)
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM INTERIM CONDENSED CONSOLIDATED BALANCE SHEET AND STATEMENTS OF OPERATION AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FORM 10-Q COMMUNICATIONS AND POWER INDUSTRIES HOLDING CORPORATION FOR THE QUARTER ENDED JANUARY 2, 1998 0001000654 COMMUNICATIONS & POWER INDUSTRIES HOLDING CORPORATION 1,000 3-MOS OCT-02-1998 OCT-04-1997 JAN-02-1998 3,199 0 38,928 0 53,339 103,745 79,322 0 228,589 65,042 130,493 18,308 0 2 1,820 228,589 57,373 57,373 42,726 42,726 1,804 0 4,654 317 119 198 0 0 0 198 0 0
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