-----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, Ddzjw6JWb5wvLEpUsYAgZoS0540ZhOxW6yAbDDJh0ZPclGtCWnLRurYL8F12h9Qq 88CninZjXv7cwXuGfgKgvQ== 0000069999-99-000015.txt : 19990914 0000069999-99-000015.hdr.sgml : 19990914 ACCESSION NUMBER: 0000069999-99-000015 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990731 FILED AS OF DATE: 19990913 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL COMPUTER SYSTEMS INC CENTRAL INDEX KEY: 0000069999 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 410850527 STATE OF INCORPORATION: MN FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-03713 FILM NUMBER: 99710185 BUSINESS ADDRESS: STREET 1: 11000 PRAIRIE LAKES DR CITY: MINNEAPOLIS STATE: MN ZIP: 55344 BUSINESS PHONE: 6128293000 MAIL ADDRESS: STREET 1: P O BOX 9365 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 10-Q 1 QUARTERLY REPORT FORM 10Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: July 31, 1999 Commission File Number: 0-3713 NATIONAL COMPUTER SYSTEMS, INC. ----------------------------------------------------------------- (Exact name of registrant as specified in its charter) Minnesota 41-0850527 - ------------------------------- -------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) 11000 Prairie Lakes Drive Eden Prairie, Minnesota 55344 - ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (612)829-3000 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 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 last practicable date: The number of shares of common stock, par value $.03 per share,outstanding on September 7, 1999, was 31,922,517. PART I. FINANCIAL INFORMATION Item 1. Financial Statements NATIONAL COMPUTER SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (unaudited) Second Quarter Year-to-Date ------------------- ------------------- 1999 1998 1999 1998 -------- -------- -------- -------- (In thousands, except per share amounts) REVENUES Information services $ 97,301 $ 73,497 $169,165 $122,282 Product Sales 53,073 41,556 93,225 78,065 Maintenance and Support 17,290 13,075 31,091 25,696 -------- -------- -------- -------- Total revenues $167,664 $128,128 $293,481 $226,043 COST OF REVENUES Cost of information services 65,671 50,592 118,991 86,982 Cost of product sales 21,623 17,482 37,271 33,495 Cost of maintenance and support 10,206 8,778 18,924 16,767 -------- -------- -------- -------- Gross margin 70,164 51,276 118,295 88,799 OPERATING EXPENSES Sales and marketing 18,969 16,508 35,541 31,580 Research and development 4,740 2,383 8,413 4,716 General and administrative 24,270 15,671 40,525 26,828 -------- -------- -------- -------- INCOME FROM OPERATIONS 22,185 16,714 33,816 25,675 Interest expense 266 215 428 533 Other (income) expense, net (41) 157 325 305 -------- -------- -------- -------- INCOME BEFORE INCOME TAXES 21,960 16,342 33,063 24,837 Income taxes 8,800 6,600 13,250 10,000 -------- -------- -------- -------- NET INCOME $ 13,160 $ 9,742 $ 19,813 $ 14,837 ======== ======== ======== ======== EARNINGS PER SHARE Basic $ 0.42 $ 0.31 $ 0.63 $ 0.48 Diluted $ 0.40 $ 0.30 $ 0.60 $ 0.46 WEIGHTED AVERAGE SHARES OUTSTANDING Basic 31,714 30,987 31,597 30,900 Diluted 33,027 32,524 32,940 32,416 See Notes to Consolidated Financial Statements. NATIONAL COMPUTER SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (unaudited) July 31, January 31, 1999 1999 -------- ----------- (In thousands) ASSETS CURRENT ASSETS Cash and cash equivalents $ 19,679 $ 16,310 Receivables 134,746 128,751 Inventories: Finished products 5,527 5,096 Scoring services and work in process 20,350 14,442 Raw materials and purchased parts 3,229 2,253 -------- -------- Total inventories 29,106 21,791 Prepaid expenses and other 8,499 7,225 -------- -------- TOTAL CURRENT ASSETS 192,030 174,077 PROPERTY, PLANT AND EQUIPMENT Land, buildings and improvements 65,863 63,018 Machinery and equipment 176,007 152,414 Accumulated depreciation (122,667) (109,416) -------- -------- Net property, plant and equipment 119,203 106,016 INTELLECTUAL PROPERTIES, NET Acquired and internally developed software products 10,797 12,170 Educational content and assessment instruments 24,338 8,835 -------- -------- Total intellectual properties 35,135 21,005 OTHER ASSETS, NET Goodwill 58,000 52,840 Other assets 10,193 8,533 -------- -------- Total other assets 68,193 61,373 -------- -------- TOTAL ASSETS $414,561 $362,471 ======== ======== See Notes to Consolidated Financial Statements. NATIONAL COMPUTER SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (unaudited) July 31, January 31, 1999 1999 -------- ----------- (In thousands) LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Current maturities of long-term debt $ 8,092 $ 3,758 Accounts payable 34,487 35,809 Accrued expenses 66,484 51,779 Deferred income 42,167 32,209 Income taxes 3,275 3,883 -------- -------- TOTAL CURRENT LIABILITIES 154,505 127,438 LONG-TERM DEBT -- less current maturities 5,895 5,597 DEFERRED INCOME TAXES 6,703 2,570 COMMITMENTS AND CONTINGENCIES - - STOCKHOLDERS' EQUITY Preferred stock - - Common stock--issued and outstanding - 31,826 and 31,467 shares, respectively 955 944 Paid-in capital 13,233 10,760 Retained earnings 237,226 220,625 Accumulated other comprehensive income - Foreign currency translation adjustment (2,533) (3,880) Deferred compensation (1,423) (1,583) -------- -------- TOTAL STOCKHOLDERS' EQUITY 247,458 226,866 -------- -------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $414,561 $362,471 ======== ======== See Notes to Consolidated Financial Statements. NATIONAL COMPUTER SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) Year-to-Date Through July 31, ----------------------------- 1999 1998 -------- -------- (In thousands) OPERATING ACTIVITIES Net income $ 19,813 $ 14,837 Depreciation, amortization and other noncash expenses 17,991 16,322 Provision for deferred income taxes (499) (1,043) Changes in operating assets and liabilities: Accounts receivable (5,087) (13,275) Inventory and other current assets (8,375) (14,633) Accounts payable and accrued expenses 11,302 7,572 Deferred income 6,593 6,825 -------- -------- Net cash provided by operating activities 41,738 16,605 INVESTING ACTIVITIES Purchases of property, plant and equipment (15,597) (11,588) Purchases of business systems (7,683) (3,775) Acquisitions, net (19,059) (4,600) Other, net 1,317 (984) -------- -------- Net cash used in investing activities (41,022) (20,947) FINANCING ACTIVITIES Net increase (decrease) in revolving credit borrowings 5,000 - Net repayment of borrowings (268) (5,770) Issuance (repurchase) of common stock, net 1,084 389 Dividends paid (3,163) (3,108) -------- -------- Net cash provided by (used in) financing activities 2,653 (8,489) Increase (decrease) in cash and cash equivalents 3,369 (12,831) CASH AND CASH EQUIVALENTS - beginning of period 16,310 23,267 -------- -------- CASH AND CASH EQUIVALENTS - end of period $ 19,679 $ 10,436 ======== ======== See Notes to Consolidated Financial Statements. NATIONAL COMPUTER SYSTEMS, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note A - The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations and cash flows for all periods presented have been made. The consolidated results of operations for the period ended July 31, 1999 are not necessarily indicative of the operating results that may be expected for the entire fiscal year ending January 29, 2000. For further information, refer to the Consolidated Financial Statements and footnotes thereto included in National Computer Systems, Inc. and Subsidiaries' Annual Report on Form 10-K for the year ended January 31, 1999. Note B - Effective February 1, 1999, the Company adopted a 4-4-5, 13-week quarterly accounting cycle with the fiscal year ending on the Saturday nearest to January 31. The four fiscal quarters in the current year will end on May 1, 1999, July 31, 1999, October 30, 1999 and January 29, 2000. The impact of this change in the Company's quarterly and annual financial results in 1999 will be insignificant. Note C - The following table is a reconciliation of the earnings numerator and the weighted-average shares denominator used in the calculations of basic and diluted earnings per share (in thousands, except per share data): Second Quarter Year-to-Date -------------------- ------------------ 1999 1998 1999 1998 --------- --------- -------- -------- Earnings: Net income for basic earnings per share $13,160 $ 9,742 $19,813 $14,837 Adjustments for dilutive securities: Interest expense on convertible debentures, net of tax 43 59 84 110 ------- ------- ------- ------- Adjusted net income for diluted earnings per share $13,203 $ 9,801 $19,897 $14,947 ======= ======= ======= ======= Weighted Average Share: Basic average shares 31,714 30,987 31,597 30,900 Adjustments for dilutive securities: Employee stock options, net of tax proceeds 895 956 920 928 Contingent stock awards, net of tax proceeds 35 73 36 79 Convertible debentures 383 508 387 509 ------- ------- ------- ------- Diluted average shares 33,027 32,524 32,940 32,416 ======= ======= ======= ======= Basic earnings per share $ 0.42 $ 0.31 $ 0.63 $ 0.48 ======= ======= ======= ======= Diluted earnings per share $ 0.40 $ 0.30 $ 0.60 $ 0.46 ======= ======= ======= ======= Note D - The Company has 10,000,000 shares of $.01 par value Preferred Stock authorized of which none is outstanding. 100,000,000 shares of $.03 par value Common Stock are authorized. Note E - The components of comprehensive income for the 1999 and 1998 second quarter and year-to-date are as follows (in thousands): Second Quarter Year-to-Date ------------------ ---------------- 1999 1998 1999 1998 ------ ------ ------ ------ Net income $13,160 $ 9,742 $19,813 $14,837 Foreign currency translation adjustments 344 (776) 1,347 (761) ------ ------ ------ ------ Comprehensive income $13,504 $ 8,966 $21,160 $14,076 ======= ======= ======= ======= Note F - As previously disclosed, the Company was served with a summons and complaint in a lawsuit filed against the Company by a former customer. The lawsuit alleges certain claims against the Company in connection with certain loan processing and servicing agreements and seeks out-of-pocket damages, lost profits and compensation for extraordinary defaults and lost interest that it claims resulted from breaches of these agreements by the Company. The customer also seeks to have the Company acquire certain student loans with unpaid principal, interest and late charges, which loans it claims are, or have been, in default and were incorrectly processed or serviced by the Company. The Company has tendered the defense of the claims to its insurer and the insurer accepted the defense subject to a reservation of rights. The Company has filed an answer to the complaint denying the claims, and the Company intends to vigorously defend against the lawsuit. In addition, the Company has filed a counterclaim against the former customer and a corporate affiliate seeking compensatory damages and contribution and indemnity. The Company does not believe that the outcome of this litigation would result in a material adverse effect on the Company's consolidated financial position or results of operations. Note G - On May 28, 1999 the Company acquired NovaNET Learning, Inc. (NLI), an interactive, online curriculum content company. The transaction has been accounted for as a purchase, and, accordingly, NLI's operations subsequent to the closing date will be consolidated with the Company's. The purchase price was $19.1 million in cash and has been primarily allocated to educational content ($16.3 million), goodwill ($7.1 million) and $4.6 million of deferred taxes in accordance with SFAS 109, Accounting for Income Taxes. The transaction is expected to add approximately $15 million to current year revenues. Note H - The Company has five reportable business segments; the table below presents information by segment.
Assessments Education Data & Testing Software & NCS Collection Services Services Services Systems International Totals ----------- ----------- ---------- ---------- -------------- --------- Second Quarter Ended 7/31/99 Revenues $ 53,930 $ 44,481 $35,437 $21,823 $11,993 $167,664 Income from operations 15,084 5,758 4,818 5,771 1,037 32,468 Second Quarter Ended 7/31/98 Revenues $ 47,652 $ 26,652 $22,617 $20,194 $11,013 $128,128 Income from operations 13,561 2,613 2,253 3,456 837 22,720 Year-to-Date through 7/31/99 Revenues $ 85,857 $ 72,807 $69,234 $42,653 $22,930 $293,481 Income from operations 18,818 6,889 10,304 11,018 2,065 49,094 Year-to-Date through 7/31/98 Revenues $ 72,090 $48,099 $44,429 $38,735 $22,690 $226,043 Income from operations 17,195 3,116 4,517 7,815 1,432 34,075
The difference between segment totals and the Company's consolidated totals consist of central general and administrative expenses, and non-operating expenses, all of which are not allocated to the segments. No major changes in segment assets have occurred since January 31, 1999, other than the NLI acquisition described in Note G, which assets are a part of the Education Software & Services segment. Item 2. Management's Discussion and Analysis of Results of Operations and Financial Condition National Computer Systems, Inc. is a global information services company providing software, services and systems for the collection, management and interpretation of data. The Company markets these products and services to the education, commercial, and government markets through its five operating segments. Recap of 1999 Second Quarter Results For the quarter ended July 31, 1999, total revenues increased by $39.5 million or 30.9% from the quarter ended July 31, 1998. Overall gross margin increased 1.8% as a percent of revenue, and gross margin dollars increased $18.9 million or 36.8%. Income from operations increased $5.5 million or 32.7%. Net income increased 35.1%, and earnings per share (diluted) increased 33.3% to $.40 per share from $.30 in the prior year second quarter. On a year-to-date basis, total revenues increased by $67.4 million or 29.8% over the same period in the prior year. Overall gross margin increased 1.0% as a percent of revenue, and gross margin dollars increased $29.5 million or 33.2%. Income from operations year-to-date increased $8.1 million or 31.7%. Net income increased 33.5%, and earnings per share (diluted) increased 30.4% to $.60 per share from $.46 in the prior year. Revenues Increases in revenues for the three month and year-to-date periods ended July 31, 1999 and 1998 by revenue category were as follows: Quarter Year-to-date ------- ------------ Information services +32.4% +38.3% Product sales +27.7% +19.4% Maintenance and support +32.2% +21.0% Overall +30.9% +29.8% Of the $39.5 million of overall revenue increase in the second quarter of 1999, 60% was attributable to growth in information services (70% of $67.4 million year-to-date). For both the second quarter and year-to-date, growth came from several sources: government and commercial outsourcing, K-12 networking and professional services related to education software, and assessment and testing services. Second quarter increases in product sales came principally from education software licensing and related network hardware. Increased maintenance and support revenues were also the result of increased support revenues from education software. By major market, for the second quarter, revenues grew 31% from the education market and 30% from the large scale data management (non-education) market. On a year-to-date basis, the increases were 33% from education and 23% from non-education. Cost of Revenues and Gross Margins For the second quarter the Company's overall gross margin as a percent of revenue increased by 1.8%, with the improvement in each revenue category (information services, product sales, and maintenance and support) in dollars and as a percentage of revenue. This improvement reflects increased efficiency of service and product delivery at higher volumes, especially in software support. The same variances were seen in each category on a year-to-date basis. Operating Expenses Sales and marketing expenses increased $2.5 million or 14.9% in the quarter ended July 31, 1999, over the prior year second quarter. As a percentage of revenues, second quarter sales and marketing expenses declined by 1.6 percentage points, due primarily to the relatively lower selling costs associated with information services revenues. On a year-to-date basis, these expenses grew 12.5%, but decreased 1.9 percentage points as a percentage of revenue. Research and development costs nearly doubled to $4.7 million in the quarter ended July 31, 1999 as compared to the prior year (and increased 78% on a year-to-date basis), reflecting more research and development spending in the education software business. For the full year, these expenses are expected to continue at higher levels for fiscal 1999 than fiscal 1998, as the Company continues its investment in software products and test processing technology. General and administrative expenses increased $8.6 million for the quarter ended July 31, 1999 from the prior year quarter. As a percentage of revenue, general and administrative expense increased 2.3 percentage points from 12.2% to 14.5%. On a year-to-date basis the increase was $13.7 million, from 11.9% of revenues to 13.8%. These expenses increased due to general growth and costs related to an improvement of the Company's employee benefit package (particularly vacation), variable compensation accrued because of favorable operating results, and increases in internal management information systems. Non-operating Expenses Interest expense remained insignificant for both the second quarter and year-to-date. Other expense, net, was insignificant for all periods presented. Provision for Income Taxes The effective income tax rate was a constant 40% for all periods presented. Liquidity and Capital Resources For the six-month period ended July 31, 1999, the Company generated $41.7 million of cash flow from operating activities as compared to $16.6 million in the same period of the prior year. Cash was used principally to fund the NLI acquisition of $19.1 million, investments in property, plant and equipment of $15.6 million and business systems of $7.7 million, and to pay dividends of $3.2 million. The Company expects for the remainder of fiscal 1999 that its positive cash flows from operations will be adequate to fund its normal financing and investing activities. In addition, the Company generally anticipates funding internal growth and acquisitions with its cash and cash equivalents on hand, excess cash flows from operations, and an existing revolving credit facility. Impact of Year 2000 Many currently installed computer systems and software are coded to accept only two-digit entries in the date code fields. These date code fields will need to accept four-digit entries to distinguish 21st century dates from 20th century dates. This problem could result in system failures or miscalculations causing disruptions of business operations (including, among other things, a temporary inability to process transactions, send invoices or engage in other similar business activities). As a result, many companies' computer systems and software will need to be upgraded or replaced in order to comply with Year 2000 requirements. The potential global impact of the Year 2000 problem is not known, and, if not corrected in a timely manner, could affect the Company and the U.S. and world economy generally. The Company's product development processes currently contain steps to include Year 2000 compliance verification for all current and future products. Most of the Company's products are currently Year 2000 compliant, and all continuing products are expected to be compliant before December 31, 1999. The Company has a full-time Year 2000 program leader and a team (consisting of representatives from each of its business units) to address internal and external Year 2000 issues. The Company's internal financial and other "IT" computer systems have been reviewed to assess and remediate Year 2000 problems, as have other "non-IT" systems such as security, HVAC and telephone systems. In addition, executive management regularly monitors the status of the Company's Year 2000 remediation plans. The Company's Year 2000 compliance program includes the following phases: identifying systems with date sensitive points that will need to be addressed; carrying out remediation work to modify those systems or convert to new systems; conducting validation testing of systems and applications to ensure compliance; and transition preparedness activities. As of the filing date, the Company believes its products and internal systems are Year 2000 compliant in all material respects. The majority of future work consists of transition activities described below. Through July 31, 1999, the Company has spent approximately $6.2 million addressing Year 2000 issues ($1.5 million in fiscal 1997, $3.3 million in fiscal 1998, and $1.4 million thus far in fiscal 1999.) The Company expects to incur an additional $0.6 million of Year 2000 expenses during the remainder of fiscal 1999. These costs are below original estimates and consist primarily of internal resources, with relatively minor external costs. All amounts are being expensed currently and are included in the Company's future operating plans and expectations. In addition, the Company has also made, and will continue to make, significant capital investments to enhance its internal business and service delivery systems. However, these investments are not driven principally by Year 2000 considerations. In addition, the Company is requesting assurances from its major suppliers that they are addressing the Year 2000 issue and that products purchased by the Company from such suppliers will function properly in the Year 2000. Also, contacts are being made with the Company's major customers. These actions are intended to help mitigate the possible external impact of the Year 2000 problem. However, it is impossible to fully assess the potential consequences to the Company of the Year 2000 problem in the event service interruptions from suppliers occur or in the event that there are disruptions in such infrastructure areas as utilities, communications, transportation, banking and government. Based on its assessments to date, the Company believes it will not experience any material disruption as a result of Year 2000 problems in internal processes, information processing or interfaces with major customers, or with processing orders and billing. However, if certain critical third-party providers, such as those providers supplying electricity, water or telephone service, experience difficulties resulting in disruption of service to the Company, a shutdown of the Company's operations at individual facilities could occur for the duration of the disruption. While the Company currently believes such disruptions of basic services and facility shutdowns are unlikely, there can be no absolute assurance that they will not occur. The Company believes that the most likely worst case Year 2000 scenario will be that NCS products do not operate properly for customers who have not installed Year 2000 compliant versions of NCS products or have not updated their own computing platform or network infrastructure to be operational in the Year 2000. The Company has developed, and continues to refine, transition preparedness plans to respond to a significantly increased number of customer calls at all its support locations to address these Year 2000 problems. The Company has developed contingency plans to provide for continuity of processing in Year 2000 and will continue to test and monitor these plans over the remainder of the year. Assuming no major disruption in service from utility companies or other critical third-party providers, the Company believes that it will be able to manage its total Year 2000 transition without any material effect on the Company's consolidated results of operations or financial condition. The statements which are not historical or current facts or are "goals" or "expectations" contained in this report constitute "forward-looking" statements, as defined in the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties that could cause actual results to differ materially. The Cautionary Statements filed by the Company as Exhibit 99 to the Annual Report on Form 10-K for the year ended January 31, 1999, are incorporated herein by reference, and stockholders and prospective investors are specifically referred to such Cautionary Statements for a discussion of factors which could affect the Company's operations and forward-looking statements contained herein. PART II. OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K (a) Exhibits. 27. Financial Data Schedule (b) No reports on Form 8-K were filed for the three months ended July 31, 1999. 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. NATIONAL COMPUTER SYSTEMS, INC. /s/ Jeffrey W. Taylor --------------------------- Jeffrey W. Taylor Vice President and Chief Financial Officer Dated: September 13, 1999 EX-27 2 FDS --
5 This schedule contains summary information extracted from the financial statements for National Computer Systems, Inc. and Subsidiaries, for the fiscal year ended January 29, 2000, and is qualified in its entirety by reference to such financial statements. 1000 U.S. Dollars 3-MOS JAN-29-2000 MAY-02-1999 JUL-31-1999 1 19679 0 134746 0 29106 192030 241870 (122667) 414561 154505 0 0 0 955 246503 414561 53073 167664 21623 97500 47979 0 266 21960 8800 13160 0 0 0 13160 0.41 0.40
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