EX-13.(A)(III) 4 c66960ex13-aiii.txt CONSOLIDATED STATEMENT OF EARNINGS EXHIBIT 13(a)(iii) -------------------------------------------------------------------------------- CONSOLIDATED STATEMENTS OF EARNINGS -------------------------------------------------------------------------------- FOR THE YEARS ENDED NOVEMBER 30, 2001, 2000 AND 1999 (Dollars in thousands except per share data)
2001 2000 1999 ----------------------------------------------------------------------------------------------------------------- Net sales .................................................. $ 666,964 $ 652,148 $ 477,869 Cost of sales .............................................. 471,477 453,803 329,282 ------------------------------------------------ Gross profit .......................................... 195,487 198,345 148,587 Selling and administrative expenses ........................ 119,677 122,358 92,510 ------------------------------------------------ Operating profit ...................................... 75,810 75,987 56,077 ------------------------------------------------ Other income (expense): Interest expense ......................................... (10,270) (11,534) (3,733) Interest income .......................................... 654 698 1,451 Other, net ............................................... (460) (1,664) 1,820 ------------------------------------------------ (10,076) (12,500) (462) ------------------------------------------------ Earnings before income taxes and minority interests ... 65,734 63,487 55,615 Provision for income taxes ................................. 23,804 23,201 20,137 ------------------------------------------------ Earnings before minority interests .................... 41,930 40,286 35,478 Minority interests in earnings of subsidiaries ............. (37) (49) (66) ------------------------------------------------ Net earnings ............................................... $ 41,893 $ 40,237 $ 35,412 ================================================ Net earnings per common share: Basic .................................................... $ 1.71 $ 1.66 $ 1.48 Diluted .................................................. $ 1.68 $ 1.64 $ 1.46 ================================================ Average number of common shares outstanding: Basic .................................................... 24,535,199 24,269,675 23,970,011 Diluted .................................................. 24,892,062 24,506,171 24,313,607 ================================================
The accompanying notes are an integral part of the consolidated financial statements.