-----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, JGWlC1DIGRZvYBSqCFKuxtJrWhG67KbIzymsZ6w0cxYEJt+L9qMEBLLpXzA3qqco or0oYaokTJReJYo8tqeQKA== 0000029332-95-000011.txt : 19951119 0000029332-95-000011.hdr.sgml : 19951119 ACCESSION NUMBER: 0000029332-95-000011 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19950930 FILED AS OF DATE: 19951114 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: DIXIE YARNS INC CENTRAL INDEX KEY: 0000029332 STANDARD INDUSTRIAL CLASSIFICATION: TEXTILE MILL PRODUCTS [2200] IRS NUMBER: 620183370 STATE OF INCORPORATION: TN FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-02585 FILM NUMBER: 95592352 BUSINESS ADDRESS: STREET 1: 1100 S WATKINS ST CITY: CHATTANOOGA STATE: TN ZIP: 37404 BUSINESS PHONE: 6156982501 MAIL ADDRESS: STREET 1: P O BOX 751 CITY: CHATTANOOGA STATE: TN ZIP: 37401 FORMER COMPANY: FORMER CONFORMED NAME: DIXIE MERCERIZING CO DATE OF NAME CHANGE: 19670524 10-Q 1 FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 1995 Commission File Number 0-2585 DIXIE YARNS, INC. (Exact name of registrant as specified in its charter) Tennessee 62-0183370 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1100 South Watkins Street Chattanooga, Tennessee 37404 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (423) 698-2501 Indicate by check mark whether the 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 [ ] Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Class Outstanding as of November 1, 1995 Common Stock, $3 Par Value 10,459,176 shares Class B Common Stock, $3 Par Value 735,228 shares Class C Common Stock, $3 Par Value 0 shares DIXIE YARNS, INC 2 INDEX Part I. Financial Information: Page No. Consolidated Condensed Balance Sheets -- September 30, 1995 and December 31, 1994 3 Consolidated Statements of Income (Loss) -- Three Months Ended September 30, 1995 and October 1, 1994 5 Consolidated Statements of Income (Loss) -- Nine Months Ended September 30, 1995 and October 1, 1994 6 Consolidated Condensed Statements of Cash Flows -- Nine Months Ended September 30, 1995 and October 1, 1994 7 Notes to Consolidated Condensed Financial Statements 9 Management's Discussion and Analysis of Results of Operations and Financial Condition 11 Part II. Other Information: Item 6 - Exhibits and Reports on Form 8-K 14 PART I - ITEM 1 3 FINANCIAL INFORMATION DIXIE YARNS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) September 30, December 31, 1995 1994 _____________ ____________ (dollar amounts in thousands) ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,990 $ 1,904 Accounts receivable (less allowance for doubtful accounts of $3,139 in 1995 and $3,617 in 1994) 34,713 28,918 Inventories 114,340 109,964 Other 12,055 11,939 _____________ ____________ TOTAL CURRENT ASSETS 163,098 152,725 PROPERTY, PLANT AND EQUIPMENT 478,567 480,920 Less accumulated amortization and depreciation 229,166 215,406 _____________ ____________ NET PROPERTY, PLANT AND EQUIPMENT 249,401 265,514 INTANGIBLE ASSETS (less accumulated amortization of $12,106 in 1995 and $10,659 in 1994) 63,284 63,620 OTHER ASSETS 6,601 6,461 _____________ ____________ TOTAL ASSETS $ 482,384 $ 488,320 _____________ ____________ _____________ ____________ See Notes to Consolidated Condensed Financial Statements. DIXIE YARNS, INC. 4 CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) September 30, December 31, 1995 1994 _____________ ____________ (dollar amounts in thousands) LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 31,731 $ 33,055 Accrued expenses 25,518 30,148 Current portion of long-term debt 2,236 584 _____________ ____________ TOTAL CURRENT LIABILITIES 59,485 63,787 LONG-TERM DEBT Senior indebtedness 106,115 87,025 Subordinated notes 50,000 50,000 Convertible subordinated debentures 44,782 44,782 _____________ ____________ TOTAL LONG-TERM DEBT 200,897 181,807 OTHER LIABILITIES 12,724 11,676 DEFERRED INCOME TAXES 43,684 42,364 COMMON STOCK, SUBJECT TO PUT OPTION - 1,029,446 shares in 1994 -0- 18,178 STOCKHOLDERS' EQUITY Common Stock - issued and outstanding, including shares in treasury, 13,862,799 shares in 1995 and 13,857,642 shares in 1994 41,589 41,573 Class B Common Stock - issued and outstanding, 735,228 shares in 1995 and 1994 2,206 2,206 Additional paid-in capital 131,617 131,710 Retained earnings 49,911 54,626 Minimum pension liability adjustment (4,330) (4,330) _____________ ____________ 220,993 225,785 Less Common Stock in treasury at cost - 3,393,523 shares in 1995 and 3,375,990 shares in 1994 55,399 55,277 _____________ ____________ TOTAL STOCKHOLDERS' EQUITY 165,594 170,508 _____________ ____________ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 482,384 $ 488,320 _____________ ____________ _____________ ____________ See Notes to Consolidated Condensed Financial Statements. DIXIE YARNS, INC. 5 CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) Three Months Ended _________________________________ September 30, October 1, 1995 1994 ______________ ______________ (dollar amounts in thousands, except per share data) Net sales $ 161,289 $ 172,556 Cost of sales 137,894 147,016 ____________ ____________ GROSS PROFIT 23,395 25,540 Selling, general and administrative expenses 21,346 19,852 Other income (expense) - net (6,894) (997) ____________ ____________ INCOME (LOSS) BEFORE INTEREST AND TAXES (4,845) 4,691 Interest expense 3,985 3,503 ____________ ____________ INCOME (LOSS) BEFORE INCOME TAXES (8,830) 1,188 Income tax provision (benefit) (2,800) 687 ____________ ____________ NET INCOME (LOSS) $ (6,030) $ 501 ____________ ____________ ____________ ____________ Per common and common equivalent share: Net income (loss) $ (0.53) $ 0.04 Cash dividends declared: Common stock $ 0.00 $ 0.05 Class B common stock $ 0.00 $ 0.05 See Notes to Consolidated Condensed Financial Statements DIXIE YARNS, INC. 6 CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) Nine Months Ended _________________________________ September 30, October 1, 1995 1994 ______________ ______________ (dollar amounts in thousands, except per share data) Net sales $ 520,744 $ 512,789 Cost of sales 442,625 443,004 ____________ ____________ GROSS PROFIT 78,119 69,785 Selling, general and administrative expenses 63,947 60,950 Other income (expense) - net (7,916) (3,499) ____________ ____________ INCOME BEFORE INTEREST AND TAXES 6,256 5,336 Interest expense 12,097 10,261 ____________ ____________ INCOME (LOSS) BEFORE INCOME TAXES (5,841) (4,925) Income tax provision (benefit) (1,125) (1,202) ____________ ____________ NET INCOME (LOSS) $ (4,716) $ (3,723) ____________ ____________ ____________ ____________ Per common and common equivalent share: Net income (loss) $ (0.40) $ (0.28) Cash dividends declared: Common stock $ 0.00 $ 0.15 Class B common stock $ 0.00 $ 0.15 See Notes to Consolidated Condensed Financial Statements. DIXIE YARNS, INC. 7 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) Nine Months Ended _____________________________ September 30, October 1, 1995 1994 _____________ ____________ (dollar amounts in thousands) CASH FLOWS FROM OPERATING ACTIVITIES Net income (loss) $ (4,716) $ (3,723) Depreciation and amortization 27,527 26,864 Provision for deferred income taxes 880 1,123 Loss on property, plant and equipment 9,058 37 _____________ ____________ 32,749 24,301 Changes in operating assets and liabilities, net of effects of business combination (16,638) (16,549) _____________ ____________ NET CASH PROVIDED BY OPERATING ACTIVITIES 16,111 7,752 CASH FLOWS FROM INVESTING ACTIVITIES Net proceeds from sale of property, plant and equipment 6,359 -0- Purchase of property, plant and equipment (24,750) (26,397) Cash payments in connection with business combination -0- (324) ____________ ____________ NET CASH USED IN INVESTING ACTIVITIES (18,391) (26,721) See Notes to Consolidated Condensed Financial Statements. DIXIE YARNS, INC. 8 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - CONTINUED (UNAUDITED) Nine Months Ended _____________________________ September 30, October 1, 1995 1994 _____________ ____________ (dollar amounts in thousands) CASH FLOWS FROM FINANCING ACTIVITIES Net increase in credit line borrowings 21,185 18,871 Repurchase common stock, subject to put option (18,281) -0- Dividends paid -0- (1,837) Capital stock acquired (122) (186) Other (416) (334) _____________ ____________ NET CASH PROVIDED BY FINANCING ACTIVITIES 2,366 16,514 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 86 (2,455) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 1,904 4,047 _____________ ____________ CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 1,990 $ 1,592 _____________ ____________ _____________ ____________ SUPPLEMENTAL CASH FLOW INFORMATION Interest paid $ 11,344 $ 10,297 _____________ ____________ _____________ ____________ Income taxes paid, net of refunds received $ (1,248) $ 1,483 _____________ ____________ _____________ ____________ See Notes to Consolidated Condensed Financial Statements. DIXIE YARNS, INC. 9 NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (UNAUDITED) NOTE A - BASIS OF PRESENTATION The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial statements which do not include all of the information and footnotes required in annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 1995 are not necessarily indicative of the results that may be expected for the entire year. NOTE B - RECLASSIFICATIONS Net sales, selling, general and administrative expenses and corporate expenses for 1994 have been reclassified to conform with the 1995 presentation. NOTE C - INVENTORIES Inventories are summarized as follows: September 30, December 31, 1995 1994 _____________ ____________ (dollar amounts in thousands) At current cost Raw materials $ 28,256 $ 28,458 Work-in-process 28,778 28,091 Finished goods 71,757 64,401 Supplies, repair parts and other 7,317 7,858 ____________ ____________ 136,108 128,808 Excess of current cost over LIFO value (21,768) (18,844) ____________ ____________ $ 114,340 $ 109,964 ____________ ____________ ____________ ____________ NOTE D - DEBT AND CREDIT ARRANGEMENTS 10 The Company's revolving credit facility, which was renewed in the first quarter of 1995, provides for aggregate borrowings of up to $125.0 million in addition to the availability of a $10.0 million term-loan facility which was utilized to fund the stock repurchase on July 10, 1995 (see Note E.) Under the terms of the revolving credit agreement, borrowing capacity is permanently reduced by a portion of the proceeds from certain significant asset dispositions. Accordingly, aggregate availability has been reduced by $2.8 million as a result of the sale of the Newton plant (see Note G.) At September 30, 1995, available unused borrowing capacity under the Company's revolving credit agreements was approximately $30.1 million. NOTE E - COMMON STOCK, SUBJECT TO PUT OPTION On July 10, 1995, 1,029,446 shares of common stock issued in connection with the Company's 1993 acquisition of Masland Carpets, Inc. were repurchased for $18.3 million, pursuant to the exercise of the holders' put option. The repurchase was funded under the company's revolving credit and term-loan facilities. NOTE F - STOCK PLANS On May 4, 1995 the Board of Directors acted, effective as of such date, to reprice outstanding options granted prior to 1995 under the Company's 1990 Incentive Stock Plan. Options to purchase 516,000 shares of the Company's Common Stock, originally granted at prices ranging from $10.25 to $14.00 per share, were amended to provide for a revised exercise price of $8.00 per share, which was above the market price of $6.25 per share on the effective date of the amendment. The expiration date of the repriced options was also amended to provide for a new 10 year term commencing on May 4, 1995, under which the options become exercisable at a cumulative rate of 25% per year beginning on May 4, 1997. NOTE G - OTHER INCOME (EXPENSE) - NET Other income (expense) - net for the quarter and nine months ended September 30, 1995 included pre-tax gains of $2.3 million and $5.2 million, respectively, from casualty insurance proceeds while the nine months included a pre-tax charge of $1.8 million related to costs associated with consolidation of the Company's synthetic yarn manufacturing facilities. The quarter and nine months ended September 30, 1995 also included a pre- tax loss of $8.1 million on the sale of the Company's Newton, North Carolina yarn spinning facility for $5.8 million on September 18, 1995. PART I - ITEM 2 11 MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION The following is presented to update the discussion of results of operations and financial condition included in the Company's 1994 Annual Report. RESULTS OF OPERATIONS For the quarter ended September 30, 1995, the Company had a net loss of $6.0 million, or $.53 per share, on sales of $161.2 million compared to net income of $.5 million, or $.04 per share, on sales of $172.6 million in the third quarter of 1994. Results for the 1995 quarter included an after-tax loss of $5.2 million on the sale of the Company's Newton, North Carolina yarn spinning facility and an after-tax gain of $1.4 million from casualty insurance proceeds. The Company had a net loss of $4.7 million, or $.40 per share, on sales of $520.7 million for the nine months ended September 30, 1995, compared to a net loss of $3.7 million, or $.28 per share, on sales of $512.8 million for the first nine months of 1994. The 1995 results include after-tax gains of $3.2 million from casualty insurance proceeds and after-tax losses of $5.2 million on the Newton sale and $1.1 million on the consolidation of the Company's synthetic yarn operations. The loss on the Newton plant sale, the consolidation costs associated with the Company's synthetic yarn manufacturing facilities and the casualty insurance gains are classified in "Other income (expense) - net" on the Company's financial statements. Selling, general and administrative expenses increased $1.5 million and $3.0 million in the third quarter and first nine months of 1995 compared to the corresponding periods in 1994, respectively. These increases relate to higher selling costs in the Company's floorcovering businesses as a result of sales staff expansion and increased expenses related to the introduction of new products. Interest expense increased by $.4 million and $1.8 million in the quarter and nine months ended September 30, 1995, respectively, when compared to the third quarter and first nine months of 1994. The increase is attributable to the general increase in interest rates. 12 The following table sets forth selected operating data (in millions of dollars) related to the two business segments of the Company. Operating profit or loss for each segment excludes general corporate overhead, certain items classified as other income (expense), interest expense, and income taxes. Quarter Ended Nine Months Ended Sept 30, Oct 1, Sept 30, Oct 1, 1995 1994 1995 1994 Sales - Textile products $ 74.0 $ 83.4 $248.8 $252.0 - Floorcovering 88.7 90.6 275.2 263.8 - Intersegment elimination (1.5) (1.4) (3.3) (3.0) Total sales $161.2 $172.6 $520.7 $512.8 Operating profit/(loss) - Textile products $ (8.9) $ (0.6) $ (9.4) $ (9.7) - Floorcovering 5.3 6.5 19.7 18.7 Total operating profit/(loss) $ (3.6) $ 5.9 $ 10.3 $ 9.0 Operating results in the third quarter of 1995 for the Company's textile products businesses included a charge of $8.1 million related to the sale of the Company's Newton yarn spinning facility and a gain of $1.1 million from casualty insurance proceeds. Without these items, operating results reflected a loss of $1.9 million in the current quarter compared to a loss of $.6 million in the third quarter of 1994. The Company's customers, primarily apparel and upholstery fabric manufacturers, have been severely affected by a general slowdown in retail sales of their products, which has contributed to the decline in the Company's third quarter results compared to the same period in the previous year. Additionally, the first nine months of 1995 included a charge of $1.8 million for consolidation of the Company's synthetic yarn operations. Excluding this charge and the items referenced above, textile products operating results for the first nine months of 1995 showed a loss $.6 million compared to a loss of $9.7 million for the corresponding period in 1994, reflecting manufacturing improvements accomplished in the textile products segment. Floorcovering operating profits included gains from casualty insurance proceeds of $1.2 million and $4.1 million for the third quarter and first nine months of 1995, respectively. Excluding these gains, the third quarter of 1995 reflected operating profits of $4.1 million compared to $6.5 million for the corresponding quarter of 1994, while the first nine months of the year reflected operating profits of $15.6 million compared to $18.7 million for the same period in 1994. Excess capacity in the carpet industry and a slowdown in demand have resulted in pressure on the floorcovering segment selling prices at a time when material costs have risen. Additionally, selling expense has increased compared to the prior year. Weak demand in markets served by both the textile products and floorcovering segments is expected to continue into early 1996. Without improvement in sales volume, operating results are not expected to improve significantly. 13 LIQUIDITY AND CAPITAL RESOURCES During the first nine months of 1995, $16.1 million generated by operating activities was supplemented by $21.2 million in borrowings under the Company's revolving credit and term loan agreement and $5.8 million from the sale of the Newton yarn spinning facility. These funds were used to fund $24.8 million of capital expenditures and the $18.3 million stock repurchase. The Company's revolving credit agreement provides for a permanent reduction of availability in an amount equal to fifty percent of net proceeds related to significant asset dispositions. Accordingly, availability was reduced by $2.8 million as a result of the Newton plant sale. At September 30, 1995, total unused borrowing capacity was $30.1 million. If fourth quarter operations continue at third quarter levels, a waiver of the interest coverage covenant under the Company's revolving credit agreement may be necessary. PART II. OTHER INFORMATION 14 Item 6 - Exhibits and Reports on Form 8-K (a) Exhibits (i) Exhibits Incorporated by Reference None. (ii) Exhibits Filed with this Report (11) Statement re: Computation of Earnings Per Share. (b) Reports on Form 8-K No reports on Form 8-K have been filed by the registrant during the three month period ended September 30, 1995. 15 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. DIXIE YARNS, INC. __________________________ (Registrant) November 13, 1995 ____________________ (Date) /s/GLENN M. GRANDIN __________________________ Glenn M. Grandin Senior Vice President and Chief Financial Officer QUARTERLY REPORT ON FORM 10-Q 16 ITEM 6(a) EXHIBITS QUARTER ENDED SEPTEMBER 30, 1995 DIXIE YARNS, INC. CHATTANOOGA, TENNESSEE Exhibit Index EXHIBIT NO. EXHIBIT DESCRIPTION INCORPORATION BY REFERENCE (11) Statement re: Computation Filed herewith. of Earnings Per Share. EX-11 2 EXHIBIT (11) EXHIBIT 11 DIXIE YARNS, INC. STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE Three Months Ended Nine Months Ended _______________________ _______________________ Sept 30, Oct 1, Sept 30, Oct 1, 1995 1994 1995 1994 ___________ ___________ ___________ ___________ PRIMARY: NET INCOME (LOSS) $(6,029,833) $ 500,961 $(4,715,757) $(3,722,942) ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ Weighted average number of Common Shares outstanding assuming conversion of Class B Common Stock 11,293,135 12,243,400 11,926,586 12,249,896 Net effect of dilutive stock options based on the treasury stock method using average market price -0- 33,716 -0- 36,519 Net effect of put options based on the reverse treasury stock method using average market price -0- 1,018,544 -0- 871,815 ___________ ___________ ___________ ___________ TOTAL SHARES 11,293,135 13,295,660 11,926,586 13,158,230 ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ PER SHARE AMOUNT $ (.53) $ .04 $ (.40) $ (.28) ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ FULLY DILUTED: Net income (loss) $(6,029,833) $ 500,961 $(4,715,757) $(3,722,942) After-tax interest requirement of convertible subordinated debentures (A) -0- -0- -0- -0- ___________ ___________ ___________ ___________ ADJUSTED NET INCOME (LOSS) $(6,029,833) $ 500,961 $(4,715,757) $(3,722,942) ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ EXHIBIT 11 DIXIE YARNS, INC. STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE - CONTINUED Three Months Ended Nine Months Ended _______________________ _______________________ Sept 30, Oct 1, Sept 30, Oct 1, 1995 1994 1995 1994 ___________ ___________ ___________ ___________ FULLY DILUTED - CONT. Weighted average number of Common Shares outstanding assuming conversion of Class B Common Stock 11,293,135 12,243,400 11,926,586 12,249,896 Net effect of dilutive stock options based on the treasury stock method using quarter end market price if higher than the average market price -0- 33,708 -0- 36,492 Net effect of put options based on the reverse treasury stock method using quarter end market price if lower than the average market price -0- 1,173,943 -0- 1,173,943 Net effect of conversion of convertible subordinated debentures (A) -0- -0- -0- -0- ___________ ___________ ___________ ___________ TOTAL SHARES 11,293,135 13,451,051 11,926,586 13,460,331 ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ PER SHARE AMOUNT $ (.53) $ .04 $ (.40) $ (.28) ___________ ___________ ___________ ___________ ___________ ___________ ___________ ___________ (A) Conversion of convertible subordinated debentures to 1,390,745 shares with an after-tax interest requirement of $472,538 for the three months ended September 30, 1995, and October 1, 1994, respectively and of $1,417,613 for the nine months ended September 30, 1995, and October 1, 1994, respectively has been excluded from computation since the effect was anti-dilutive. EX-27 3
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS OF DIXIE YARNS, INC. AT AND FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 9-MOS DEC-30-1995 SEP-30-1995 1,990 0 37,852 3,139 114,340 163,098 478,567 229,166 482,384 59,485 200,897 43,795 0 0 127,287 482,384 520,744 520,744 442,625 442,625 0 0 12,097 (5,841) (1,125) (4,716) 0 0 0 (4,716) (.40) (.40)
-----END PRIVACY-ENHANCED MESSAGE-----