The following tables in the remainder of this Note 2 and in Note 19 present the impact of the restatement corrections and immaterial adjustments on the Company's previously issued financial statements for the periods indicated.

CONSOLIDATED BALANCE SHEET



(In thousands, except share and per share data)	June 30, 2012
	Previously Reported			Adjustments(1)			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	3,906		$	—		$	3,906
Restricted cash	—			1,612			1,612
Short-term investments	21,021			(1,285		)	19,736
Accounts and notes receivable, net of allowance for doubtful accounts of $1,872	40,736			—			40,736
Inventories	65,981			—			65,981
Income tax receivable	762			—			762
Prepaid expenses	3,445			—			3,445
Total current assets	135,851			327			136,178
Property, plant and equipment, net	108,135			2			108,137
Intangible assets, net	7,615			—			7,615
Other assets	2,904			2,221			5,125
Deferred income taxes	854			7			861
Total assets	$	255,359		$	2,557		$	257,916
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	27,676		$	(410	)	$	27,266
Accrued payroll expenses	20,494			(1,364		)	19,130
Short-term borrowings under revolving credit facility	29,126			—			29,126
Short-term obligations under capital leases	3,737			—			3,737
Short-term derivative liability	—			737			737
Deferred income taxes	1,480			(35		)	1,445
Other current liabilities	10,176			(4,880		)	5,296
Total current liabilities	92,689			(5,952		)	86,737
Accrued postretirement benefits	34,557			(12,031		)	22,526
Other long-term liabilities—capital leases	12,130			—			12,130
Accrued pension liabilities	42,513			5,678			48,191
Accrued workers’ compensation liabilities	4,131			—			4,131
Deferred income taxes	607			42			649
Total liabilities	$	186,627		$	(12,263	)	$	174,364
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $1.00 par value, 500,000 shares authorized and none issued	$	—		$	—		$	—
Common stock, $1.00 par value, 25,000,000 shares authorized; 16,308,859 issued and outstanding	16,309			—			16,309
Additional paid-in capital	34,834			—			34,834
Retained earnings	100,455			2,087			102,542
Unearned ESOP shares	(25,637		)	—			(25,637		)
Less accumulated other comprehensive loss	(57,229		)	12,733			(44,496		)
Total stockholders’ equity	$	68,732		$	14,820		$	83,552
Total liabilities and stockholders’ equity	$	255,359		$	2,557		$	257,916

_______________


(1)	For details see the introduction section included elsewhere in this Note 2.

CONSOLIDATED BALANCE SHEET



(In thousands, except share and per share data)	June 30, 2011
	Previously Reported			Adjustments (1)			As Restated
ASSETS
Current assets:
Cash and cash equivalents	$	6,081		$	—		$	6,081
Restricted cash	—			460			460
Short-term investments	24,874			(460		)	24,414
Accounts and notes receivable, net of allowance for doubtful accounts of $2,852	43,501			—			43,501
Inventories	79,759			(310		)	79,449
Income tax receivable	448			—			448
Prepaid expenses	2,747			—			2,747
Total current assets	157,410			(310		)	157,100
Property, plant and equipment, net	114,107			233			114,340
Goodwill	5,310			—			5,310
Intangible assets, net	9,329			—			9,329
Other assets	2,892			2,071			4,963
Deferred income taxes	1,005			3			1,008
Total assets	$	290,053		$	1,997		$	292,050
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	42,473		$	(51	)	$	42,422
Accrued payroll expenses	15,675			1,283			16,958
Short-term borrowings under revolving credit facility	31,362			—			31,362
Short-term obligations under capital leases	1,570			—			1,570
Short-term derivative liabilities	—			1,729			1,729
Deferred income taxes	500			(24		)	476
Other current liabilities	11,882			(7,355		)	4,527
Total current liabilities	103,462			(4,418		)	99,044
Accrued postretirement benefits	23,585			(4,589		)	18,996
Other long-term liabilities—capital leases	7,066			—			7,066
Accrued pension liabilities	22,371			5,677			28,048
Accrued workers’ compensation liabilities	3,639			—			3,639
Deferred income taxes	1,815			27			1,842
Total liabilities	$	161,938		$	(3,303	)	$	158,635
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $1.00 par value, 500,000 shares authorized and none issued	$	—		$	—		$	—
Common stock, $1.00 par value, 25,000,000 shares authorized; 16,186,372 issued and outstanding	16,186			—			16,186
Additional paid-in capital	36,470			—			36,470
Retained earnings	129,784			(666		)	129,118
Unearned ESOP shares	(30,437		)	—			(30,437		)
Less accumulated other comprehensive loss	(23,888		)	5,966			(17,922		)
Total stockholders’ equity	$	128,115		$	5,300		$	133,415
Total liabilities and stockholders’ equity	$	290,053		$	1,997		$	292,050

_______________


(1)	For details see the introduction section included elsewhere in this Note 2.

CONSOLIDATED STATEMENT OF OPERATIONS



(In thousands, except share and per share data)	Year ended June 30, 2012
	Previously Reported			Adjustments(1)			As Restated
Net sales	$	495,442		$	—		$	495,442
Cost of goods sold	322,618			(78		)	322,540
Gross profit	172,824			78			172,902
Selling expenses	150,641			—			150,641
General and administrative expenses	36,897			(2,675		)	34,222
Impairment losses on goodwill and intangible assets	5,585			—			5,585
Pension withdrawal expense	4,568			—			4,568
Operating expenses	197,691			(2,675		)	195,016
(Loss) income from operations	(24,867		)	2,753			(22,114		)
Other income (expense):
Dividend income	1,231			—			1,231
Interest income	214			—			214
Interest expense	(2,137		)	—			(2,137		)
Other, net	(4,117		)	—			(4,117		)
Total other expense	(4,809		)	—			(4,809		)
(Loss) income before taxes	(29,676		)	2,753			(26,923		)
Income tax benefit	(347		)	—			(347		)
Net (loss) income	$	(29,329	)	$	2,753		$	(26,576	)
Net (loss) income per common share—basic and diluted	$	(1.89	)				$	(1.72	)
Weighted average common shares outstanding—basic and diluted	15,492,314						15,492,314

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)



(In thousands)	Year Ended June 30, 2012
	Previously Reported			Adjustments(1)		As Restated
Net (loss) income	$	(29,329	)	$	2,753	$	(26,576	)
Other comprehensive (loss) income, net of tax:
Change in the funded status of retiree benefit obligations	(33,341		)	6,767		(26,574		)
Income tax benefit	—			—		—
Total comprehensive (loss) income, net of tax	$	(62,670	)	$	9,520	$	(53,150	)

_______________

(1) See summary table of the impact of the restatement corrections and immaterial adjustments on the consolidated statements of operations and comprehensive income (loss) included elsewhere in this Note 2.

CONSOLIDATED STATEMENT OF OPERATIONS



(In thousands, except share and per share data)	Year ended June 30, 2011
	Previously Reported			Adjustments(1)			As Restated
Net sales	$	463,945		$	—		$	463,945
Cost of goods sold	306,771			(313		)	306,458
Gross profit	157,174			313			157,487
Selling expenses	170,670			—			170,670
General and administrative expenses	47,121			2,258			49,379
Impairment losses on intangible assets	7,805			—			7,805
Operating expenses	225,596			2,258			227,854
Loss from operations	(68,422		)	(1,945		)	(70,367		)
Other income (expense):
Dividend income	2,534			—			2,534
Interest income	178			—			178
Interest expense	(1,965		)	—			(1,965		)
Other, net	4,191			—			4,191
Total other income	4,938			—			4,938
Loss before taxes	(63,484		)	(1,945		)	(65,429		)
Income tax benefit	(9,167		)	(4,229		)	(13,396		)
Net (loss) income	$	(54,317	)	$	2,284		$	(52,033	)
Net (loss) income per common share—basic and diluted	$	(3.61	)				$	(3.45	)
Weighted average common shares outstanding—basic and diluted	15,066,663						15,066,663
Cash dividends declared per common share	$	0.18					$	0.18

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)



(In thousands)	Year Ended June 30, 2011
	Previously Reported			Adjustments(1)			As Restated
Net loss (income)	$	(54,317	)	$	2,284		$	(52,033	)
Other comprehensive (loss) income, net of tax:
Change in the funded status of retiree benefit obligations	25,634			11,097			36,731
Income tax expense	(9,823		)	(4,230		)	(14,053		)
Total comprehensive (loss) income, net of tax	$	(38,506	)	$	9,151		$	(29,355	)

_______________

CONSOLIDATED STATEMENT OF OPERATIONS



(In thousands, except share and per share data)	Year ended June 30, 2010
	Previously Reported			Adjustments(1)			As Restated
Net sales	$	450,318		$	—		$	450,318
Cost of goods sold	252,754			1,932			254,686
Gross profit	197,564			(1,932		)	195,632
Selling expenses	187,685			(395		)	187,290
General and administrative expenses	49,071			(130		)	48,941
Operating expenses	236,756			(525		)	236,231
Loss from operations	(39,192		)	(1,407		)	(40,599		)
Other income (expense):
Dividend income	3,224			—			3,224
Interest income	303			—			303
Interest expense	(986		)	—			(986		)
Other, net	10,169			—			10,169
Total other income	12,710			—			12,710
Loss before taxes	(26,482		)	(1,407		)	(27,889		)
Income tax benefit	(2,529		)	(1		)	(2,530		)
Net loss	$	(23,953	)	$	(1,406	)	$	(25,359	)
Net loss per common share—basic and diluted	$	(1.61	)				$	(1.71	)
Weighted average common shares outstanding—basic and diluted	14,866,306						14,866,306
Cash dividends declared per common share	$	0.46					$	0.46

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS)



(In thousands)	Year Ended June 30, 2010
	Previously Reported			Adjustments(1)			As Restated
Net loss	$	(23,953	)	$	(1,406	)	(25,359		)
Other comprehensive loss, net of tax:
Change in the funded status of retiree benefit obligations	(4,787		)	(1,151		)	(5,938		)
Income tax expense	—			—			—
Total comprehensive loss, net of tax	$	(28,740	)	$	(2,557	)	$	(31,297	)

_______________

CONSOLIDATED STATEMENT OF CASH FLOWS



(In thousands)	Year Ended June 30, 2012
	Previously Reported			Adjustments(1)			As Restated
Cash flows from operating activities:
Net (loss) income	$	(29,329	)	$	2,753		$	(26,576	)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	32,113			—			32,113
Recovery of doubtful accounts	(980		)	—			(980		)
Deferred income taxes	(78		)	—			(78		)
Impairment losses on goodwill and intangible assets	5,585			—			5,585
Net gains on sales of assets	(268		)	—			(268		)
ESOP and share-based compensation expense	3,287			—			3,287
Net losses on derivatives and investments	6,175			—			6,175
Change in operating assets and liabilities:
Restricted cash	—			(1,153		)	(1,153		)
Short-term investments	(2,322		)	825			(1,497		)
Accounts and notes receivable	3,745			—			3,745
Inventories	13,314			(78		)	13,236
Income tax receivable	(314		)	—			(314		)
Prepaid expenses and other assets	(711		)	(149		)	(860		)
Accounts payable	(13,083		)	(358		)	(13,441		)
Accrued payroll expenses and other liabilities	3,112			(1,163		)	1,949
Accrued postretirement benefits	995			2,535			3,530
Other long-term liabilities	(3,108		)	(3,212		)	(6,320		)
Net cash provided by operating activities	$	18,133		$	—		$	18,133
Cash flows from investing activities:
Purchases of property, plant and equipment	(17,498		)	—			(17,498		)
Proceeds from sales of property, plant and equipment	3,037			—			3,037
Net cash used in investing activities	$	(14,461	)	$	—		$	(14,461	)
Cash flows from financing activities:
Proceeds from revolving credit facility	17,250			—			17,250
Repayments on revolving credit facility	(21,200		)	—			(21,200		)
Payments of capital lease obligations	(1,897		)	—			(1,897		)
Net cash used in financing activities	$	(5,847	)	$	—		$	(5,847	)
Net decrease in cash and cash equivalents	$	(2,175	)	$	—		$	(2,175	)
Cash and cash equivalents at beginning of year	6,081						6,081
Cash and cash equivalents at end of year	$	3,906		$	—		$	3,906



Supplemental disclosure of cash flow information:
Cash paid for interest	$	2,123	$	—	$	2,123
Cash paid for income taxes	$	317	$	—	$	317
Non-cash financing and investing activities:
Equipment acquired under capital leases	$	9,508	$	—	$	9,508

_______________


(1)	See the introduction section included elsewhere in this Note 2.

CONSOLIDATED STATEMENT OF CASH FLOWS



(In thousands)	Year Ended June 30, 2011
	Previously Reported			Adjustments (1)			As Restated
Cash flows from operating activities:
Net (loss) income	$	(54,317	)	$	2,284		$	(52,033	)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	31,758			—			31,758
Provision for doubtful accounts	2,024			—			2,024
Deferred income taxes	336			2			338
Impairment losses on goodwill and intangible assets	7,805			—			7,805
Net losses on sales of assets	358			—			358
ESOP and share-based compensation expense	3,825			—			3,825
Net gains on derivatives and investments	(1,312		)	—			(1,312		)
Change in operating assets and liabilities:
Restricted cash	—			(460		)	(460		)
Short-term investments	27,381			913			28,294
Accounts and notes receivable	(2,929		)	—			(2,929		)
Inventories	3,952			(312		)	3,640
Income tax receivable	5,392			—			5,392
Prepaid expenses and other assets	(434		)	834			400
Accounts payable	12,997			(504		)	12,493
Accrued payroll expenses and other liabilities	2,112			44			2,156
Accrued postretirement benefits	1,399			(10,956		)	(9,557		)
Other long-term liabilities	(6,410		)	8,155			1,745
Net cash provided by operating activities	$	33,937		$	—		$	33,937
Cash flows from investing activities:
Purchases of property, plant and equipment	(19,416		)	—			(19,416		)
Proceeds from sales of property, plant and equipment	2,021			—			2,021
Net cash used in investing activities	$	(17,395	)	$	—		$	(17,395	)
Cash flows from financing activities:
Proceeds from revolving credit facility	35,450			—			35,450
Repayments on revolving credit facility	(43,970		)	—			(43,970		)
Payments of capital lease obligations	(1,433		)	—			(1,433		)
Dividends paid	(4,657		)	—			(4,657		)
Net cash used in financing activities	$	(14,610	)	$	—		$	(14,610	)
Net increase in cash and cash equivalents	$	1,932		$	—		$	1,932
Cash and cash equivalents at beginning of year	4,149			—			4,149
Cash and cash equivalents at end of year	$	6,081		$	—		$	6,081



Supplemental disclosure of cash flow information:
Cash paid for interest	$	1,945	$	—	$	1,945
Cash paid for income taxes	$	324	$	—	$	324
Non-cash financing and investing activities:
Equipment acquired under capital leases	$	5,659	$	—	$	5,659
Dividends accrued, but not paid

_______________


(1)	See the introduction section included elsewhere in this Note 2.

CONSOLIDATED STATEMENT OF CASH FLOWS



(In thousands)	Year Ended June 30, 2010
	Previously Reported			Adjustments (1)			As Restated
Cash flows from operating activities:
Net loss	$	(23,953	)	$	(1,406	)	$	(25,359	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	26,778			—			26,778
Provision for doubtful accounts	3,188			—			3,188
Deferred income taxes	758			427			1,185
Net losses on sales of assets	430			—			430
ESOP and share-based compensation expense	4,785			(1		)	4,784
Net gain on derivatives and investments	(9,382		)	—			(9,382		)
Change in operating assets and liabilities:
Restricted cash	—			—			—
Short-term investments	1,365			(453		)	912
Accounts and notes receivable	(40		)	—			(40		)
Inventories	(14,751		)	1,932			(12,819		)
Income tax receivable	(1,677		)	—			(1,677		)
Prepaid expenses and other assets	178			(187		)	(9		)
Accounts payable	(738		)	617			(121		)
Accrued payroll expenses and other liabilities	2,904			(542		)	2,362
Accrued postretirement benefits	3,926			1,302			5,228
Other long-term liabilities	5,182			(1,689		)	3,493
Net cash provided by operating activities	$	(1,047	)	$	—		$	(1,047	)
Cash flows from investing activities:
Purchases of property, plant and equipment	(28,484		)	—			(28,484		)
Proceeds from sales of property, plant and equipment	437			—			437
Net cash used in investing activities	$	(28,047	)	$	—		$	(28,047	)
Cash flows from financing activities:
Proceeds from revolving credit facility	33,737			—			33,737
Repayments on revolving credit facility	(12,756		)	—			(12,756		)
Payments of capital lease obligations	(837		)	—			(837		)
Dividends paid	(6,939		)	—			(6,939		)
Net cash used in financing activities	$	13,205		$	—		$	13,205
Net decrease in cash and cash equivalents	$	(15,889	)	$	—		$	(15,889	)
Cash and cash equivalents at beginning of year	20,038			—			20,038
Cash and cash equivalents at end of year	$	4,149		$	—		$	4,149



Supplemental disclosure of cash flow information:
Cash paid for interest	$	890	$	—	$	890
Cash paid for income taxes	$	154	$	—	$	154
Non-cash financing and investing activities:
Equipment acquired under capital leases	$	3,954	$	—	$	3,954
Dividends accrued, but not paid	$	1,849	$	—	$	1,849

_______________