EX-99.1 2 l88253aex99-1.txt EXHIBIT 99.1 1 Exhibit 99.1 Pioneer-Standard Electronics, Inc. Consolidated Statements of Income
Year Ended March 31 ------------------------------------------------------- (Dollars In Thousands, Except Per Share Data) 2001 2000 1999 ----------- ----------- ----------- Net Sales $ 2,901,353 $ 2,560,711 $ 2,267,615 Operating Costs and Expenses: Cost of goods sold 2,468,571 2,170,684 1,918,792 Warehouse, selling and administrative expenses 318,400 289,631 264,196 Writedown of fixed assets 14,200 - - ----------- ----------- ----------- Operating Income 100,182 100,396 84,627 Other (Income) Expense Other income (480) (1,058) (294) Gain on sale of assets - (1,845) - Interest expense 33,578 26,074 24,253 ----------- ----------- ----------- Income Before Income Taxes 67,084 77,225 60,668 Provision for income taxes 26,124 31,210 24,018 Distributions on mandatorily redeemable convertible trust preferred securities, net of tax 5,914 5,870 5,841 ----------- ----------- ----------- Income Before Extraordinary Charge $ 35,046 $ 40,145 $ 30,809 Extraordinary charge for early extinguishment of debt, net of tax (470) - - ----------- ----------- ----------- Net Income $ 34,576 $ 40,145 $ 30,809 =========== =========== =========== PER SHARE DATA: Income Before Extraordinary Charge - Basic $ 1.31 $ 1.52 $ 1.17 Extraordinary charge (.02) - - ----------- ----------- ----------- Net Income - Basic $ 1.29 $ 1.52 $ 1.17 =========== =========== =========== Income Before Extraordinary Charge - Diluted $ 1.12 $ 1.27 $ 1.03 Extraordinary charge (.01) - - ----------- ----------- ----------- Net Income - Diluted $ 1.11 $ 1.27 $ 1.03 =========== =========== =========== Weighted Average Shares Outstanding: Basic 26,793,457 26,409,156 26,350,690 Diluted 36,615,950 36,178,307 35,711,374
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