EX-99.1 3 dex991.htm SELECTED FINANCIAL INFORMATION REFLECTING ARAMARK'S EDUCATIONAL RESOURCES. Selected financial information reflecting ARAMARK's Educational Resources.

 

Exhibit 99.1

 

ARAMARK CORPORATION AND SUBSIDIARIES

DISCONTINUED OPERATIONS – RESTATEMENT OF HISTORICAL RESULTS OF OPERATIONS

(Unaudited)

(In Thousands, Except Per Share Amounts)

 

In the second quarter of fiscal 2003, ARAMARK executed a definitive agreement for the sale of ARAMARK Educational Resources (AER) to Knowledge Learning Corporation, Inc. for $225 million in cash and a note in the principal amount of $40 million, subject to a right of prepayment of $25 million within 12 months of closing. AER is accounted for as a discontinued operation in the accompanying financial schedules for all periods presented. The results of operations for each of the quarters in fiscal 2002, the full fiscal year 2002 and the first quarter of fiscal 2003 have been restated below to reflect this discontinued operations accounting treatment.

 

    

Quarter Ended

December 28, 2001

   

Quarter Ended

March 29, 2002

   

Quarter Ended

June 28, 2002

     

Quarter Ended

September 27, 2002

     

Fiscal Year Ended

September 27, 2002

   

Quarter Ended

December 27, 2002

Sales from Continuing Operations

   

$

2,000,888

   

$

2,037,696

   

$

2,136,498

     

$

2,180,925

     

$

8,356,007

   

$

2,275,940

    
  
  
    
    
  

Operating Income

   

$

110,328

   

$

125,767

   

$

131,789

     

$

161,697

     

$

529,581

   

$

128,506

    
  
  
    
    
  

Income from Continuing Operations

   

$

46,906

   

$

58,101

   

$

65,273

     

$

81,040

     

$

251,320

   

$

58,416

Income from Discontinued Operations, net

   

$

4,537

   

$

6,270

   

$

7,299

     

$

486

     

$

18,592

   

$

4,283

    
  
  
    
    
  

Net Income

   

$

51,443

   

$

64,371

   

$

72,572

     

$

81,526

     

$

269,912

   

$

62,699

    
  
  
    
    
  

Diluted Earnings Per Share:

                                              

Income from continuing operations

   

$

0.25

   

$

0.28

   

$

0.32

     

$

0.40

     

$

1.25

   

$

0.29

    
  
  
    
    
  

Net income

   

$

0.27

   

$

0.31

   

$

0.35

     

$

0.40

     

$

1.34

   

$

0.31

    
  
  
    
    
  

Diluted Share Base

   

 

187,717

   

 

209,223

   

 

204,684

     

 

201,684

     

 

200,924

   

 

199,177