-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, b1fkrmB9Kb6AMO0tFD8pV/I6xk9bEVh/3182NdMiMiv/7w7nwB6nHCCWuM2+314D zXhWU0Rcx6y5PvdlFWr8xw== 0000062418-94-000010.txt : 19940927 0000062418-94-000010.hdr.sgml : 19940927 ACCESSION NUMBER: 0000062418-94-000010 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19940831 FILED AS OF DATE: 19940926 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARK IV INDUSTRIES INC CENTRAL INDEX KEY: 0000062418 STANDARD INDUSTRIAL CLASSIFICATION: 3823 IRS NUMBER: 231733979 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-08862 FILM NUMBER: 94550282 BUSINESS ADDRESS: STREET 1: 501 JOHN JAMES AUDUBON PKWY STREET 2: P O BOX 810 CITY: AMHERST STATE: NY ZIP: 14226 BUSINESS PHONE: 7166894972 FORMER COMPANY: FORMER CONFORMED NAME: MARK FOUR HOMES INC DATE OF NAME CHANGE: 19770921 10-Q 1 SECOND QUARTERLY REPORT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarter Ended August 31, 1994 - --------------------------------------------------------------------------- Commission File Number 1-8862 - --------------------------------------------------------------------------- MARK IV INDUSTRIES, INC. - --------------------------------------------------------------------------- (Exact name of Registrant as specified in its charter) Delaware 23-1733979 - --------------------------------------------------------------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 501 John James Audubon Parkway, P.O. Box 810, Amherst, New York 14226-0810 - --------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (716) 689-4972 - --------------------------------------------------------------------------- (Registrant's telephone number, including area code) 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 class of common stock as of the latest practicable date. Class Outstanding at September 20, 1994 ----- --------------------------------- Common stock $.01 par value 42,843,008 2 MARK IV INDUSTRIES, INC. INDEX ----- Part I. Financial Information Page No. - ------------------------------ -------- Consolidated Condensed Balance Sheets as of August 31, 1994 and February 28, 1994 3 Consolidated Statements of Income and Retained Earnings For the Three Month Periods Ended August 31, 1994 and 1993 4 Consolidated Statements of Income and Retained Earnings For the Six Month Periods Ended August 31, 1994 and 1993 5 Consolidated Statements of Cash Flows For the Six Month Periods Ended August 31, 1994 and 1993 6 Notes to Consolidated Financial Statements 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 8 Part II. Other Information 11 - --------------------------- Exhibit Index 13 3 MARK IV INDUSTRIES, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (Dollars in thousands) August 31, February 28, 1994 1994 ASSETS (Unaudited) ----------- ----------- Current Assets: Cash $ 700 $ 500 Accounts receivable 298,200 275,100 Inventories 265,300 265,000 Other current assets 47,700 42,100 ---------- ---------- Total current assets 611,900 582,700 Pension related and other non-current assets 146,200 126,300 Property, plant and equipment, net 369,400 365,300 Cost in excess of net assets acquired and deferred charges 208,000 208,000 ---------- ---------- TOTAL ASSETS $1,335,500 $1,282,300 ========== ========== LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities: Notes payable and current maturities of debt $ 53,000 $ 45,000 Accounts payable 112,600 99,700 Compensation related liabilities 40,500 43,100 Accrued interest 14,800 13,600 Accrued expenses and other liabilities 71,900 67,000 Income taxes payable 8,800 1,500 ---------- ---------- Total current liabilities 301,600 269,900 ---------- ---------- Long-Term Debt: Senior debt 178,900 195,000 Subordinated debentures 372,200 372,200 ---------- ---------- Total long-term debt 551,100 567,200 ---------- ---------- Other non-current liabilities 100,300 99,800 ---------- ---------- Stockholders' Equity: Common stock 400 400 Additional paid-in capital 262,600 261,500 Retained earnings 120,000 88,600 Foreign currency translation adjustment (500) (5,100) ---------- ---------- Total stockholders' equity 382,500 345,400 ---------- ---------- TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $1,335,500 $1,282,300 ========== ========== The accompanying notes are an integral part of these financial statements. 4 MARK IV INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS (UNAUDITED) For the Three Month Periods Ended August 31, 1994 and 1993 (Amounts in thousands, except per share data) 1994 1993 ---- ---- Net sales $357,200 $316,600 -------- -------- Operating costs: Cost of products sold 232,500 205,800 Selling and administration 65,500 56,700 Research and development 8,000 8,200 Depreciation and amortization 11,800 11,300 -------- -------- Total operating costs 317,800 282,000 -------- -------- Operating income 39,400 34,600 Interest expense 12,400 13,500 -------- -------- Income before provision for taxes 27,000 21,100 Provision for income taxes 10,300 8,000 -------- -------- Net income 16,700 13,100 Retained earnings - beginning of the period 104,500 93,200 Cash dividends of $.0275 and $.024 per share (1,200) (1,000) -------- -------- Retained earnings - end of the period $120,000 $105,300 ======== ======== Net income per share of common stock: Primary $ .39 $ .31 ======== ======== Fully-diluted $ .35 $ .28 ======== ======== Weighted average number of shares outstanding: Primary 42,750 42,317 ======= ======= Fully-diluted 51,040 50,630 ======= ======= The accompanying notes are an integral part of these financial statements. 5 MARK IV INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS (UNAUDITED) For the Six Month Periods Ended August 31, 1994 and 1993 (Amounts in thousands, except per share data) 1994 1993 ---- ---- Net sales $721,000 $604,500 -------- -------- Operating costs: Cost of products sold 468,600 391,600 Selling and administration 133,300 110,300 Research and development 15,600 15,300 Depreciation and amortization 23,200 19,800 -------- -------- Total operating costs 640,700 537,000 -------- -------- Operating income 80,300 67,500 Interest expense 25,300 24,900 -------- -------- Income before provision for income taxes 55,000 42,600 Provision for income taxes 21,200 15,900 -------- -------- Income before extraordinary items and cumulative effect of accounting change 33,800 26,700 Extraordinary items, net of tax - (21,700) Cumulative effect of accounting change - (26,000) -------- -------- Net income (loss) 33,800 (21,000) Retained earnings - beginning of the period 88,600 128,300 Cash dividends of $.055 and $.048 per share (2,400) (2,000) -------- -------- Retained earnings - end of the period $120,000 $105,300 ======== ======== Net income per share of common stock: Primary: Income before extraordinary items and accounting change $ .79 $ .63 Extraordinary items - (.51) Cumulative effect of accounting change - (.62) -------- -------- Net income (loss) $ .79 $ (.50) ======== ======== Fully-diluted: Income before extraordinary items and accounting change $ .71 $ .57 Extraordinary items - (.43) Cumulative effect of accounting change - (.51) -------- -------- Net income (loss) $ .71 $ (.37) ======== ======== Weighted average number of shares outstanding: Primary 42,737 42,276 ======== ======== Fully-diluted 51,027 50,589 ======== ======== The accompanying notes are an integral part of these financial statements. 6 MARK IV INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) For the Six Month Periods Ended August 31, 1994 and 1993 (Dollars in thousands) 1994 1993 ---- ---- Cash flows from operating activities: Income before extraordinary items $ 33,800 $ 26,700 Items not affecting cash: Depreciation and amortization 23,200 19,800 Pensions and other (5,000) (5,300) -------- -------- Net cash provided by earnings 52,000 41,200 Other adjustments to reconcile income to net cash provided by (used in) operating activities: Changes in assets and liabilities, net of effects of businesses acquired: Accounts receivable (20,600) 7,300 Inventories 2,000 (12,100) Other assets (5,600) (11,800) Accounts payable 11,800 (1,800) Other liabilities 6,100 (11,100) -------- -------- Net cash provided by operations 45,700 11,700 Extraordinary items, before deferred charges - (30,000) -------- -------- Net cash provided by (used in) operating activities 45,700 (18,300) -------- -------- Cash flows from investing activities: Acquisitions and divestitures, net (12,700) (31,500) Purchase of plant and equipment (16,300) (20,400) -------- -------- Net cash used in investing activities (29,000) (51,900) -------- -------- Cash flows from financing activities: Credit agreement borrowings, net (15,300) (8,100) Purchases of subordinated debt - (190,200) Issuance of senior subordinated notes - 258,000 Other changes in debt, net 1,000 11,000 Common stock transactions 300 500 Cash dividends paid (2,400) (2,000) -------- -------- Net cash provided by (used in) financing activities (16,400) 69,200 -------- -------- Effect of exchange rate fluctuations (100) (200) -------- -------- Net increase (decrease) in cash 200 (1,200) Cash and cash equivalents: Beginning of the year 500 2,700 -------- -------- End of the period $ 700 $ 1,500 ======== ======== The accompanying notes are an integral part of these financial statements. 7 MARK IV INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1. In the opinion of the Company's management, the accompanying unaudited financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position of the Company at August 31, 1994, and the results of its operations and its cash flows for the three and six month periods ended August 31, 1994 and 1993. Such results are not necessarily indicative of the results to be expected for the full year. 2. Accounts receivable are presented net of allowances for doubtful accounts of $19,800,000 and $17,600,000 at August 31, 1994 and February 28, 1994, respectively. 3. Inventories consist of the following components (dollars in thousands): August 31, February 28, 1994 1994 ---- ---- Raw materials, parts and sub-assemblies $ 79,400 $ 67,700 Work-in-process 44,800 43,500 Finished goods 141,100 153,800 -------- -------- Inventories $265,300 $265,000 ======== ======== Since physical inventories taken during the year do not necessarily coincide with the end of a quarter, management has estimated the composition of inventories with respect to raw materials, work-in- process and finished goods. It is management's opinion that this estimate represents a reasonable approximation of the inventory breakdown as of August 31, 1994. The amounts at February 28, 1994 are based upon the audited balance sheet at that date. 4. Property, plant and equipment is stated at cost and consists of the following components (dollars in thousands): August 31, February 28, 1994 1994 ---- ---- Land and land improvements $ 35,800 $ 35,700 Buildings 117,900 115,700 Machinery and equipment 348,600 324,700 -------- -------- Total property, plant and equipment 502,300 476,100 Less accumulated depreciation 132,900 110,800 -------- -------- Property, plant and equipment, net $369,400 $365,300 ======== ======== The amounts at February 28, 1994 are based upon the audited balance sheet at that date. 8 MARK IV INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 5. For purposes of cash flows, the Company considers overnight investments as cash equivalents. The Company paid interest of approximately $24,800,000 and $27,000,000 in the six-month periods ended August 31, 1994 and 1993, respectively. Such amounts include $700,000 and $1,100,000 allocated to the costs of discontinued operations in the six month periods ended August 31, 1994 and 1993, respectively. The Company also paid income taxes of approximately $6,100,000 and $10,300,000 in the six month periods ended August 31, 1994 and 1993, respectively. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Liquidity and Capital Resources - ------------------------------- Net cash provided by earnings was approximately $52,000,000 for the six month period ended August 31, 1994, an increase of approximately $10,800,000 (26%) over the six month period ended August 31 1993. As of August 31, 1994, the Company had working capital of approximately $310,300,000, a decrease of approximately $2,500,000 (1%) from February 28, 1994. The Company has borrowing availability under its primary credit agreements of $226,800,000 and additional availability under its various domestic and foreign demand lines of credit of approximately $69,800,000 as of August 31, 1994. Long-term debt at August 31, 1994 decreased approximately $16,100,000 from the total amount as of February 28, 1994. As a result, the Company's long-term debt as a percentage of total capitalization decreased slightly to 59% at August 31, 1994. Further debt reduction will be pursued through the use of cash generated from operations and reduced working capital requirements. Management believes that cash generated from operations should be sufficient to support the Company's working capital requirements and anticipated capital expenditures for the foreseeable future. Results of Operations - --------------------- The Company classifies its operations in three core business segments: Power and Fluid Transfer, Transportation, and Professional Audio. The Company's current business strategy is focused upon the enhancement of its three core business segments through internal growth, cost control and quality improvement programs, and strategic acquisitions, with an emphasis on expanding the Company's international presence. The results of operations for the three and six month periods ended August 31, 1993 include the results of operations of PTI from its June 2, 1993 acquisition date. 9 Net sales for the three month period ended August 31, 1994 increased approximately $40,600,000 (13%) over the comparable period last year. The increase was primarily due to the internal sales growth of the Company's Power and Fluid Transfer Segment. Sales for this quarter in the Transportation segment ran ahead of last years sales for the three month period ended August 31, 1993. Sales in the Company's Professional Audio Segment in the current quarter were comparable to sales levels for the three month period ended August 31, 1993. Net sales for the six month period ended August 31, 1994 increased approximately $116,500,000 (19%) over the six month period ended August 31, 1993. If the sales of PTI in the three month period ended May 31, 1993 had been included in the results for the six month period ended August 31, 1993, sales in the current six month period would have increased by approximately $74,000,000 (11%) over such pro forma results. Excluding the sales of the PTI business in both periods, the internal sales growth of the Company's Power and Fluid Transfer segment was primarily responsible for the Company's increased sales in the current period. Sales in the Company's Transportation and Professional Audio segments in the current six month period were comparable to the prior year's six month period. The cost of products sold as a percentage of consolidated net sales remained consistent at approximately 65% for the three and six month periods ended August 31, 1994 as compared to the three and six month periods ended August 31, 1993. Selling and administration costs as a percentage of consolidated net sales were approximately 18% for each of the three and six month periods ended August 31, 1994 and 1993. Research and development costs for the three and six month periods ended August 31, 1994 were substantially the same as for the three and six month periods ended August 31, 1993. As a percentage of consolidated net sales, these expenses remained consistent at approximately 2% in each period. This consistent level of investment reflects the Company's continuing emphasis on new product development. Depreciation and amortization expense increased by $500,000 (4%) for the three month period ended August 31, 1994 as compared to the three month period ended August 31, 1993. The increase is due to amortization of the restricted stock grants made in the second half of fiscal 1994, and an increase in depreciation resulting from fixed asset additions made in the second half of fiscal 1994. For the six month period ended August 31, 1994, depreciation and amortization expense increased by $3,400,000 (17%) as compared to the six month period ended August 31, 1993. This increase is primarily due to the PTI acquisition which occurred in the second quarter of fiscal 1994. The increase is also due to the amortization of the restricted stock grants made in the second half of fiscal 1994, and the increase in depreciation resulting from fixed asset additions made in the second half of fiscal 1994. Interest expense for the three month period ended August 31, 1994 decreased by approximately $1,100,000 (8%) as compared to the three month period ended August 31, 1993. The decrease is due to a decrease in the weighted average debt outstanding, and a slightly lower weighted average interest rate resulting from decreases in the rates of foreign debt, offset somewhat by a higher rate on the U.S. debt. 10 Interest expense for the six month period ended August 31, 1994 increased by approximately $400,000 (2%) as compared to the six month period ended August 31, 1993. This increase is due to the increased interest expense related to the PTI acquisition, offset somewhat by the benefits of reduced debt levels and a slightly lower weighted average interest rate. The Company's provision for income taxes as a percentage of pre-tax accounting income for the three and six month periods ended August 31, 1994, increased as compared to the comparable periods last year, primarily as a result of increased income in foreign locations with higher statutory tax rates than in the U.S. As a result of all of the above, the Company's income before special items for the three and six month periods ended August 31, 1994 increased $3,600,000 (27%) and $7,100,000 (27%), respectively over the comparable periods last year. As a result of the debt extinguishment in the first quarter of fiscal 1994, the Company incurred extraordinary losses, net of related tax benefits, of $21,700,000. Additionally, the Company's adoption of SFAS No. 106 in the first quarter of fiscal 1994 resulted in the recognition of a net of tax charge of $26,000,000 which was recorded as a cumulative effect of an accounting change. The two special charges resulted in a net loss of $21,000,000 in the six month period ended August 31, 1993 in comparison to the net income of $33,800,000 earned in the six month period ended August 31, 1994. Impact of Inflation - ------------------- Generally, the Company has been able to pass on inflation-related cost increases; consequently, inflation has had no material impact on income from operations. 11 Part II. OTHER INFORMATION - --------------------------- Items 1, 2, 3 and 5 are inapplicable and have been omitted. Item 4 - Results of Votes of Security Holders - --------------------------------------------- On July 20, 1994 the Annual Meeting of Stockholders of the Company was held. At this meeting, the stockholders voted on the following matters: (1) Joseph G. Donohoo was elected to serve as a Class I Director until the 1997 Annual Meeting. Mr. Donohoo was elected with 37,399,881 shares voting for his election; no shares voting against his election; and 299,657 shares withholding authority. The following is a list of directors whose term of office continued after the meeting: Sal H. Alfiero Clement R. Arrison Gerald S. Lippes Joseph G. Donohoo Herbert Roth, Jr. (2) To consider and take action upon the proposed Mark IV Industries, Inc. and Subsidiaries 1992 Incentive Stock Option Plan as amended and restated effective March 30, 1994. The plan was passed with 35,407,317 shares voting for the proposal; 1,962,979 shares voting against the proposal and 329,242 shares abstaining. (2) To consider and take action upon the proposed Mark IV Industries, Inc. 1992 Restricted Stock Plan as amended and restated effective March 30, 1994. The plan was passed with 34,910,378 shares voting for the proposal; 2,465,176 shares voting against the proposal and 323,984 shares abstaining. Item 6(a) - Exhibits - -------------------- Exhibit No. 11 Statement Regarding Computation of Per Share Earnings 27 Financial Data Schedule Item 6(b) Reports on Form 8-K - ----------------------------- None 12 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. MARK IV INDUSTRIES, INC. Registrant DATE: September 26, 1994 /s/ Sal H. Alfiero ------------------ ------------------------ Sal H. Alfiero Chairman of the Board DATE: September 26, 1994 /s/ Clement R. Arrison ------------------ ------------------------ Clement R. Arrison President DATE: September 26, 1994 /s/ William P. Montague ------------------ ------------------------ William P. Montague Executive Vice President and Chief Financial Officer DATE: September 26, 1994 /s/ John J. Byrne ------------------ ------------------------ John J. Byrne Vice President-Finance DATE: September 26, 1994 /s/ Richard L. Grenolds ------------------ ------------------------ Richard L. Grenolds Vice President and Chief Accounting Officer 13 EXHIBIT INDEX Description - ----------- Page No. ------- 11 Statement Regarding Computation of Per Share Earnings 14 27 Financial Data Schedule 16 EX-11 2 EXHIBIT 11 MARK IV INDUSTRIES, INC. STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (UNAUDITED) For the Three and Six Month Periods Ended August 31, 1994 and 1993 (Amounts in thousands, except per share data) Three Months Six Months Ended August 31, Ended August 31, ---------------- ---------------- 1994 1993 1994 1993 ---- ---- ---- ---- PRIMARY Shares outstanding: Weighted average number of shares outstanding 42,750 42,317 42,737 42,276 Net effect of dilutive stock options (1) 311 351 289 330 ------- ------- ------- ------- Total 43,061 42,668 43,026 42,606 ======= ======= ======= ======= Income before extraordinary items and cumulative effect of a change in accounting principle $16,700 $13,100 $ 33,800 $26,700 ======= ======= ======== ======= Income per share before extraordinary items and cumulative effect of a change in accounting principle (2) $ .39 $ .31 $ .79 $ .63 ======= ======= ======== ======= Extraordinary items $ - $ - $ - $(21,700) ======= ======= ======== ======== Loss per share from extraordinary items (2) $ - $ - $ - $ (.51) ======= ======= ======== ======== Cumulative effect of a change in accounting principle $ - $ - $ - $(26,000) ======= ======= ======== ======== Loss per share from cumulative effect of a change in accounting principle (2) $ - $ - $ - $ (.61) ======= ======= ======== ======== Net income (loss) $16,700 $13,100 $33,800 $(21,000) ======= ======= ======== ======== Net income (loss) per share (2) $ .39 $ .31 $ .79 $ (.49) ======= ======= ======== ======== 2 Three Months Six Months Ended August 31, Ended August 31, ---------------- ---------------- 1994 1993 1994 1993 ---- ---- ---- ---- FULLY-DILUTED Shares outstanding: Weighted average number of shares outstanding 42,750 42,317 42,737 42,276 Shares issuable upon conversion of the Company's 6-1/4% Convertible Subordinated Debentures 7,944 7,952 7,944 7,952 Net effect of dilutive stock options (1) 346 361 346 361 ------- ------- ------- ------- Total 51,040 50,630 51,027 50,589 ======= ======= ======= ======= Income before extraordinary items and cumulative effect of a change in accounting principle $16,700 $13,100 $ 33,800 $26,700 Interest on Convertible Subordinated Debentures, less tax effect $ 1,100 $ 1,200 $ 2,200 $ 2,400 ------- ------- -------- ------- Income applicable to fully-diluted shares, before extraordinary items and cumulative effect of a change in accounting principle $17,800 $14,300 $ 36,000 $29,100 ======= ======= ======== ======= Income per share before extraordinary items and cumulative effect of a change in accounting principle $ .35 $ .28 $ .71 $ .57 ======= ======= ======== ======= Extraordinary items $ - $ - $ - $(21,700) ======= ======= ======== ======== Loss per share from extraordinary items $ - $ - $ - $ (.43) ======= ======= ======== ======= Cumulative effect of a change in accounting principle $ - $ - $ - $(26,000) ======= ======= ======== ======== Loss per share from cumulative effect of a change in accounting principle $ - $ - $ - $ (.51) ======= ======= ======= ======== Net income (loss) $17,800 $14,300 $36,000 $(18,600) ======= ======= ======= ======== Net income (loss) per share $ .35 $ .28 $ .71 $ (.37) ======= ======= ======= ======== - ------------------------------------ (1) The net effects for the three and six month periods ended August 31, 1994 and 1993 are based upon the treasury stock method using the average market price during the periods for the primary amounts, and the higher of the average market price or the market price at the end of the period for the fully-diluted amounts. (2) Primary earnings per share have been reported in the Company's financial statements based only upon the shares of common stock outstanding, since the dilutive effect of the stock options is not considered to be material. EX-27 3
5 This schedule contains summary financial information extracted from the financial statements of Mark IV Industries, Inc. and is qualified in its entirety by reference to such financial statements. 1,000 QTR-2 FEB-28-1995 AUG-31-1994 700 0 318,000 19,800 265,300 611,900 502,300 132,900 1,335,500 301,600 551,100 400 0 0 382,100 1,335,500 721,000 721,000 468,600 640,700 0 0 25,300 55,000 21,200 33,800 0 0 0 33,800 .79 .71
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