EX-99.5 7 l01079aexv99w5.txt EX-99.5 STATEMENTS OF OPERATIONS 12-31-02,12-31-01 Exhibit 99.5 PIONEER-STANDARD ELECTRONICS, INC. QUARTERLY CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED DECEMBER 31, 2002 AND 2001
Three Months Ended Nine Months Ended December 31 December 31 -------------------------- -------------------------- (In Thousands, Except Per Share Data) 2002 2001 2002 2001 ----------- ----------- ----------- ----------- Net Sales $ 376,438 $ 378,596 $ 910,292 $ 1,008,774 Cost of goods sold 331,416 332,189 795,504 879,141 ----------- ----------- ----------- ----------- Gross margin 45,022 46,407 114,788 129,633 Warehouse, selling and administrative Expenses 37,038 37,071 103,105 120,661 ----------- ----------- ----------- ----------- Operating Income 7,984 9,336 11,683 8,972 Other (Income) Expense Other (income) expense (411) (87) (470) 302 Interest expense, net 2,534 2,438 6,687 9,146 ----------- ----------- ----------- ----------- Income (Loss) Before Income Taxes 5,861 6,985 5,466 (476) Provision for income taxes 2,066 2,022 2,066 100 Distributions on mandatorily redeemable convertible trust preferred securities, net of tax 1,474 1,573 4,600 4,726 ----------- ----------- ----------- ----------- Income (Loss) from Continuing Operations $ 2,321 $ 3,390 $ (1,200) $ (5,302) Income (Loss) from Discontinued Operations, net of tax (426) (1,157) 4,567 4,532 ----------- ----------- ----------- ----------- Income (Loss) before Cumulative Effect of Change in Accounting Principle $ 1,895 $ 2,233 $ 3,367 $ (770) Cumulative Effect of Change in Accounting Principle, net of $1.9 million tax benefit - - (34,795) - ----------- ----------- ----------- ----------- Net Income (Loss) $ 1,895 $ 2,233 $ (31,428) $ (770) =========== =========== =========== =========== PER SHARE DATA: BASIC: Income (Loss) from Continuing Operations $ 0.09 $ 0.12 $ (0.04) $ (0.20) Income (Loss) from Discontinued Operations (0.02) (0.04) 0.16 0.17 ----------- ----------- ----------- ----------- Income (Loss) before Cumulative Effect of Change in Accounting Principle $ 0.07 $ 0.08 $ 0.12 $ (0.03) ----------- ----------- ----------- ----------- Cumulative Effect of Change in Accounting Principle - - (1.27) - ----------- ----------- ----------- ----------- Net Income (Loss) $ 0.07 $ 0.08 $ (1.15) $ (0.03) =========== =========== =========== =========== DILUTED: Income (Loss) from Continuing Operations $ 0.08 $ 0.12 $ (0.04) $ (0.20) Income (Loss) from Discontinued Operations (0.01) (0.04) 0.16 0.17 ----------- ----------- ----------- ----------- Income (Loss) before Cumulative Effect of Change in Accounting Principle $ 0.07 $ 0.08 $ 0.12 $ (0.03) ----------- ----------- ----------- ----------- Cumulative Effect of Change in Accounting Principle - - (1.27) - ----------- ----------- ----------- ----------- Net Income (Loss) $ 0.07 $ 0.08 $ (1.15) $ (0.03) =========== =========== =========== =========== Weighted Average Shares Outstanding: Basic 27,291,484 27,089,311 27,270,774 27,018,322 Diluted 27,719,077 27,526,510 27,270,774 27,018,322
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