EX-99.4 6 l01079aexv99w4.txt EX-99.4 STATEMENTS OF OPERATIONS 9-30-02, 9-30-01 Exhibit 99.4 PIONEER-STANDARD ELECTRONICS, INC. QUARTERLY CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
Three Months Ended Six Months Ended September 30 September 30 ---------------------------- ---------------------------- (In Thousands, Except Per Share Data) 2002 2001 2002 2001 ------------ ------------ ------------ ------------ Net Sales $ 260,663 $ 303,964 $ 533,854 $ 630,178 Cost of goods sold 225,682 263,841 464,088 546,952 ------------ ------------ ------------ ------------ Gross margin 34,981 40,123 69,766 83,226 Warehouse, selling and administrative Expenses 33,574 44,166 66,067 83,590 ------------ ------------ ------------ ------------ Operating Income (Loss) 1,407 (4,043) 3,699 (364) Other (Income) Expense Other (income) expense (33) 1,595 (59) 389 Interest expense, net 1,967 3,051 4,153 6,708 ------------ ------------ ------------ ------------ Loss Before Income Taxes (527) (8,689) (395) (7,461) Provision (benefit) for income taxes (35) (2,224) - (1,922) Distributions on mandatorily redeemable convertible trust preferred securities, net of tax 1,562 1,591 3,126 3,153 ------------ ------------ ------------ ------------ Loss from Continuing Operations $ (2,054) $ (8,056) $ (3,521) $ (8,692) Income from Discontinued Operations, net of tax 2,696 3,357 4,993 5,689 ------------ ------------ ------------ ------------ Income (Loss) before Cumulative Effect of Change in Accounting Principle $ 642 $ (4,699) $ 1,472 $ (3,003) Cumulative Effect of Change in Accounting Principle, net of $1.9 million tax benefit - - (34,795) - ------------ ------------ ------------ ------------ Net Income (Loss) $ 642 $ (4,699) $ (33,323) $ (3,003) ============ ============ ============ ============ PER SHARE DATA: BASIC: Loss from Continuing Operations $ (0.08) $ (0.29) $ (0.13) $ (0.32) Income from Discontinued Operations 0.10 0.12 0.18 0.21 ------------ ------------ ------------ ------------ Income (Loss) before Cumulative Effect of Change in Accounting Principle $ 0.02 $ (0.17) $ 0.05 $ (0.11) ------------ ------------ ------------ ------------ Cumulative Effect of Change in Accounting Principle - - (1.27) - ------------ ------------ ------------ ------------ Net Income (Loss) $ 0.02 $ (0.17) $ (1.22) $ (0.11) ============ ============ ============ ============ DILUTED: Loss from Continuing Operations $ (0.08) $ (0.29) $ (0.13) $ (0.32) Income from Discontinued Operations 0.10 0.12 0.18 0.21 ------------ ------------ ------------ ------------ Income (Loss) before Cumulative Effect of Change in Accounting Principle $ 0.02 $ (0.17) $ 0.05 $ (0.11) ------------ ------------ ------------ ------------ Cumulative Effect of Change in Accounting Principle - - (1.27) - ------------ ------------ ------------ ------------ Net Income (Loss) $ 0.02 $ (0.17) $ (1.22) $ (0.11) ============ ============ ============ ============ Weighted Average Shares Outstanding: Basic 27,291,483 27,047,650 27,260,363 26,982,486 Diluted 27,291,483 27,047,650 27,260,363 26,982,486
12