EX-13.(A)(III) 5 c73959exv13wxayxiiiy.txt CONSOLIDATED STATEMENTS OF EARNINGS EXHIBIT 13(a)(iii) CONSOLIDATED STATEMENTS OF EARNINGS FOR THE YEARS ENDED NOVEMBER 30, 2002, 2001 AND 2000 (DOLLARS IN THOUSANDS EXCEPT PER SHARE DATA)
2002 2001 2000 ------------ ------------ ------------ Net sales ........................................................ $ 715,563 $ 666,964 $ 652,148 Cost of sales .................................................... 508,273 471,477 453,803 ------------ ------------ ------------ Gross profit ............................................ 207,290 195,487 198,345 Selling and administrative expenses .............................. 129,515 119,677 122,358 ------------ ------------ ------------ Operating profit ........................................ 77,775 75,810 75,987 ------------ ------------ ------------ Other income (expense): Interest expense ............................................. (6,073) (10,270) (11,534) Interest income .............................................. 461 654 698 Other, net ................................................... (713) (460) (1,664) ------------ ------------ ------------ (6,325) (10,076) (12,500) ------------ ------------ ------------ Earnings before income taxes and minority interests ..... 71,450 65,734 63,487 Provision for income taxes ....................................... 24,773 23,804 23,201 ------------ ------------ ------------ Earnings before minority interests ...................... 46,677 41,930 40,286 Minority interests in earnings of subsidiaries ................... (76) (37) (49) ------------ ------------ ------------ Net earnings ..................................................... $ 46,601 $ 41,893 $ 40,237 ============ ============ ============ Net earnings per common share: Basic ........................................................ $ 1.88 $ 1.71 $ 1.66 Diluted ...................................................... $ 1.85 $ 1.68 $ 1.64 ============ ============ ============ Average number of common shares outstanding: Basic ........................................................ 24,839,812 24,535,199 24,269,675 Diluted ...................................................... 25,171,931 24,892,062 24,506,171 ============ ============ ============
The accompanying notes are an integral part of the consolidated financial statements.