Guarantor and Non-guarantor Financial Statements (Tables)

6 Months Ended

Jun. 30, 2012

Guarantor and Non-guarantor Financial Statements [Abstract]

CONDENSED CONSOLIDATED BALANCE SHEET

CONDENSED CONSOLIDATED BALANCE SHEET

	June 30, 2012
(In thousands)	Parent		Guarantor Subsidiaries			Non-guarantor Subsidiaries		Eliminations			Total
ASSETS
Cash and cash equivalents	$	33,737	$	(4,717	)	$	6,641		-		$	35,661
Customer and other receivables, net		43,319		106,453			20,579	$	(55,673	)		114,678
Inventories		27,280		48,993			6,026		-			82,299
Other current assets		5,315		5,807			2,268		-			13,390
Total current assets		109,651		156,536			35,514		(55,673	)		246,028
Property, plant, and equipment, net		85,747		158,042			44,987		-			288,776
Goodwill		96,283		67,253			-		-			163,536
Intangible assets, net		135,175		40,783			-		-			175,958
Investments in and advances to subsidiaries and affiliates		287,190		-			-		(287,190	)		-
Deferred income taxes		-		7,781			382		(8,163	)		-
Other non-current assets		8,918		830			246		-			9,994
TOTAL	$	722,964	$	431,225		$	81,129	$	(351,026	)	$	884,292
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	$	15,112	$	55,560		$	12,912		-		$	83,584
Accrued payroll and compensation		2,123		8,985			3,448		-			14,556
Accrued interest payable		12,480		-			-		-			12,480
Other current liabilities		59,815		14,931			4,560	$	(55,673	)		23,633
Total current liabilities		89,530		79,476			20,920		(55,673	)		134,253
Long term debt		323,607		-			-		-			323,607
Deferred and non-current income taxes		38,440		-			-		(8,163	)		30,277
Other non-current liabilities		16,328		104,014			20,754		-			141,096
Stockholders' equity		255,059		247,735			39,455		(287,190	)		255,059
TOTAL	$	722,964	$	431,225		$	81,129	$	(351,026	)	$	884,292

	December 31, 2011
(In thousands)	Parent		Guarantor Subsidiaries			Non-guarantor Subsidiaries		Eliminations			Total
ASSETS
Cash and cash equivalents	$	51,578	$	(2,770	)	$	8,107		-		$	56,915
Customer and other receivables, net		36,736		100,097			12,099	$	(50,857	)		98,075
Inventories		26,655		39,555			6,617		-			72,827
Other current assets		4,441		5,771			2,120		-			12,332
Total current assets		119,410		142,653			28,943		(50,857	)		240,149
Property, plant, and equipment, net		73,765		150,900			46,897		-			271,562
Goodwill		96,283		67,253			-		-			163,536
Intangible assets, net		139,384		41,965			-		-			181,349
Investments in and advances to subsidiaries and affiliates		281,552		-			-		(281,552	)		-
Other non-current assets		9,880		8,883			1,649		(8,146	)		12,266
TOTAL	$	720,274	$	411,654		$	77,489	$	(340,555	)	$	868,862
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	$	17,615	$	52,938		$	9,708		-		$	80,261
Accrued payroll and compensation		3,079		9,167			4,220		-			16,466
Accrued interest payable		12,503		-			-		-			12,503
Other current liabilities		52,932		13,542			3,642	$	(50,857	)		19,259
Total current liabilities		86,129		75,647			17,570		(50,857	)		128,489
Long term debt		323,082		-			-		-			323,082
Deferred and non-current income taxes		37,045		-			-		(8,146	)		28,899
Other non-current liabilities		16,635		91,447			22,927		-			131,009
Stockholders' equity		257,383		244,560			36,992		(281,552	)		257,383
TOTAL	$	720,274	$	411,654		$	77,489	$	(340,555	)	$	868,862

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	Three Months Ended June 30, 2012
(In thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries		Eliminations			Total
Net sales	$	119,374		$	159,890		$	41,505	$	(51,986	)	$	268,783
Cost of goods sold		103,971			154,919			37,054		(51,986	)		243,958
Gross profit		15,403			4,971			4,451		-			24,825
Operating expenses		13,919			1,230			84		-			15,233
Income from operations		1,484			3,741			4,367		-			9,592
Other income (expense):
Interest expense, net		(8,540	)		(122	)		4		-			(8,658	)
Equity in earnings of subsidiaries		7,284			-			-		(7,284	)		-
Other income (loss), net		(996	)		-			560		-			(436	)
Income (loss) before income taxes from continuing operations		(768	)		3,619			4,931		(7,284	)		498
Income tax  provision		73			-			1,266		-			1,339
Income (loss) from continuing operations		(841	)		3,619			3,665		(7,284	)		(841	)
Discontinued operations, net of tax		-			-			-		-			-
Net income (loss)	$	(841	)	$	3,619		$	3,665	$	(7,284	)	$	(841	)
Comprehensive income (loss)	$	(841	)	$	3,619		$	3,844	$	(7,284	)	$	(662	)

	Three Months Ended June 30, 2011
(In thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
Net sales	$	111,793		$	133,347		$	40,510		$	(43,778	)	$	241,872
Cost of goods sold		98,258			126,657			38,291			(43,778	)		219,428
Gross profit		13,535			6,690			2,219			-			22,444
Operating expenses		12,364			1,554			66			-			13,984
Income from operations		1,171			5,136			2,153			-			8,460
Other income (expense):
Interest expense, net		(8,185	)		(700	)		485			-			(8,400	)
Equity in earnings of subsidiaries		7,528			-			-			(7,528	)		-
Other income (loss), net		407			24			(198	)		-			233
Income (loss) before income taxes from continuing operations		921			4,460			2,440			(7,528	)		293
Income tax  provision (benefit)		(356	)		-			249			-			(107	)
Income (loss) from continuing operations		1,277			4,460			2,191			(7,528	)		400
Discontinued operations, net of tax		-			-			877			-			877
Net income (loss)	$	1,277		$	4,460		$	3,068		$	(7,528	)	$	1,277
Comprehensive income (loss)	$	1,277		$	4,460		$	3,040		$	(7,528	)	$	1,249

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	Six Months Ended June 30, 2012
(In thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
Net sales	$	241,950		$	315,682		$	78,959		$	(98,290	)	$	538,301
Cost of goods sold		206,905			309,960			72,801			(98,290	)		491,376
Gross profit		35,045			5,722			6,158			-			46,925
Operating expenses		27,591			2,350			156			-			30,097
Income from operations		7,454			3,372			6,002			-			16,828
Other income (expense):
Interest expense, net		(17,119	)		(197	)		(87	)		-			(17,403	)
Equity in earnings of subsidiaries		7,525			-			-			(7,525	)		-
Other income (loss), net		(216	)		-			(63	)		-			(279	)
Income (loss) before income taxes from continuing operations		(2,356	)		3,175			5,852			(7,525	)		(854	)
Income tax  provision		1,434			-			1,502			-			2,936
Income (loss) from continuing operations		(3,790	)		3,175			4,350			(7,525	)		(3,790	)
Discontinued operations, net of tax		-			-			-			-			-
Net income (loss)	$	(3,790	)	$	3,175		$	4,350		$	(7,525	)	$	(3,790	)
Comprehensive income (loss)	$	(3,790	)	$	3,175		$	4,311		$	(7,525	)	$	(3,829	)

	Six Months Ended June 30, 2011
(In thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
Net sales	$	213,116		$	246,067		$	78,250		$	(84,666	)	$	452,767
Cost of goods sold		190,489			233,324			73,886			(84,666	)		413,033
Gross profit		22,627			12,743			4,364			-			39,734
Operating expenses		25,268			4,421			144			-			29,833
Income (loss) from operations		(2,641	)		8,322			4,220			-			9,901
Other income (expense):
Interest expense, net		(16,307	)		(999	)		566			-			(16,740	)
Equity in earnings of subsidiaries		11,756			-			-			(11,756	)		-
Other income (loss), net		2,870			15			(489	)		-			2,396
Income (loss) before income taxes from continuing operations		(4,322	)		7,338			4,297			(11,756	)		(4,443	)
Income tax  provision (benefit)		(438	)		-			830			-			392
Income (loss) from continuing operations		(3,884	)		7,338			3,467			(11,756	)		(4,835	)
Discontinued operations, net of tax		-			-			951			-			951
Net income (loss)	$	(3,884	)	$	7,338		$	4,418		$	(11,756	)	$	(3,884	)
Comprehensive income (loss)	$	(3,884	)	$	7,338		$	4,271		$	(11,756	)	$	(4,031	)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six Months Ended June 30, 2012
(In thousands)	Parent Company			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(3,790	)	$	3,175		$	4,350		$	(7,525	)	$	(3,790	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		4,574			11,829			3,518			-			19,921
Amortization - deferred financing costs		1,379			-			-			-			1,379
Amortization - other intangible assets		4,209			1,182			-			-			5,391
(Gain) loss on disposal of assets		(2,075	)		2,200			46			-			171
Deferred income taxes		1,395			-			-			-			1,395
Non-cash stock-based compensation		1,715			-			-			-			1,715
Equity in earnings of subsidiaries and affiliates		(7,525	)		-			-			7,525			-
Change in other operating items		(5,661	)		(9,793	)		(7,331	)		-			(22,785	)
Net cash provided by (used in) operating activities		(5,779	)		8,593			583			-			3,397
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment		(13,572	)		(10,540	)		(1,539	)		-			(25,651	)
Other		-			-			1,000			-			1,000
Net cash used in investing activities		(13,572	)		(10,540	)		(539	)		-			(24,651	)
CASH FLOWS FROM FINANCING ACTIVITIES
Other		1,510			-			(1,510	)		-			-
Net cash provided by (used in) financing activities		1,510			-			(1,510	)		-			-
Decrease in cash and cash equivalents		(17,841	)		(1,947	)		(1,466	)		-			(21,254	)
Cash and cash equivalents, beginning of period		51,578			(2,770	)		8,107			-			56,915
Cash and cash equivalents, end of period	$	33,737		$	(4,717	)	$	6,641		$	-		$	35,661

	Six Months Ended June 30, 2011
(In thousands)	Parent Company			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(3,884	)	$	7,338		$	4,418		$	(11,756	)	$	(3,884	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		4,161			10,607			4,420			-			19,188
Amortization - deferred financing costs		1,379			-			-			-			1,379
Amortization - other intangible assets		4,665			1,430			670			-			6,765
(Gain) loss on disposal of assets		(580	)		(1,033	)		2,057			-			444
Deferred income taxes		1			-			(1	)		-			-
Non-cash stock-based compensation		1,280			-			-			-			1,280
Equity in earnings of subsidiaries and affiliates		(11,756	)		-			-			11,756			-
Non-cash change in warrant liability		(2,426	)		-			-			-			(2,426	)
Change in other operating items		(33,821	)		535			(15,690	)		-			(48,976	)
Net cash provided by (used in) operating activities		(40,981	)		18,877			(4,126	)		-			(26,230	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment		(3,663	)		(17,504	)		(1,410	)		-			(22,577	)
Other		(22,381	)		-			7,785			-			(14,596	)
Net cash provided by (used in) investing activities		(26,044	)		(17,504	)		6,375			-			(37,173	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Other		21,267			-			(1,267	)		-			20,000
Net cash provided by (used in) financing activities		21,267			-			(1,267	)		-			20,000
Increase (decrease) in cash and cash equivalents		(45,758	)		1,373			982			-			(43,403	)
Cash and cash equivalents, beginning of period		75,114			(2,000	)		5,352			-			78,466
Cash and cash equivalents, end of period	$	29,356		$	(627	)	$	6,334		$	-		$	35,063