EX-13.(A)(III) 7 c59555ex13-aiii.txt CONSOLIDATED STATEMENT OF EARNINGS 1 EXHIBIT 13(a)(iii) CONSOLIDATED STATEMENTS OF EARNINGS -------------------------------------------------------------------------------- FOR THE YEARS ENDED NOVEMBER 30, 2000, 1999 AND 1998 (Dollars in thousands except per share data)
2000 1999 1998 =============================================================================================================== Net sales ..................................................... $652,148 $477,869 $426,773 Cost of sales ................................................. 453,803 329,282 291,537 ------------------------------------------- Gross profit ............................................ 198,345 148,587 135,236 Selling and administrative expenses ........................... 122,358 92,510 83,573 ------------------------------------------- Operating profit ........................................ 75,987 56,077 51,663 ------------------------------------------- Other income (expense): Interest expense ........................................... (11,534) (3,733) (2,336) Interest income ............................................ 698 1,451 1,283 Other, net ................................................. (1,664) 1,820 737 ------------------------------------------- (12,500) (462) (316) ------------------------------------------- Earnings before income taxes and minority interests ..... 63,487 55,615 51,347 Provision for income taxes .................................... 23,201 20,137 19,262 ------------------------------------------- Earnings before minority interests ...................... 40,286 35,478 32,085 Minority interests in earnings of subsidiaries ................ (49) (66) (6) ------------------------------------------- Net earnings .................................................. $ 40,237 $ 35,412 $ 32,079 =========================================== Net earnings per common share: Basic ...................................................... $ 1.66 $ 1.48 $ 1.32 Diluted .................................................... $ 1.64 $ 1.46 $ 1.30 =========================================== Average number of common shares outstanding: Basic ...................................................... 24,269,675 23,970,011 24,268,250 Diluted .................................................... 24,506,171 24,313,607 24,648,623 ===========================================
The accompanying notes are an integral part of the consolidated financial statements. 13