EX-99.5 8 dex995.txt INCOME STATEMENT 7/29/01 - 8/25/01 Exhibit 99.5
CASE NAME: Aerovox, Inc. INCOME STATEMENT CASE NUMBER: 01-14680 jnf FOR MONTH ENDED: FILING MONTH MONTH MONTH MONTH MONTH TO DATE June 7-30, 2001 July 29, 2001 August 25, 2001 September 29, 2001 October 27, 2001 --------------- ------------- --------------- ------------------ ---------------- ------------ NET REVENUE (INCOME) $6,069,526 $4,155,555 $4,598,363 $14,823,444 --------------- ------------- --------------- ------------------ ---------------- ------------ COST OF GOODS SOLD: Materials 3,534,267 2,478,655 2,623,795 8,636,717 --------------- ------------- --------------- ------------------ ---------------- ------------ Labor 576,110 405,280 414,923 1,396,313 --------------- ------------- --------------- ------------------ ---------------- ------------ Manufacturing Overhead 1,136,205 836,566 924,540 2,897,310 --------------- ------------- --------------- ------------------ ---------------- ------------ COST OF GOODS SOLD AT STANDARD 5,246,582 3,720,500 3,963,258 0 0 12,930,340 --------------- ------------- --------------- ------------------ ---------------- ------------ Variances (favorable)/unfavorable 89,825 124,454 (179,744) 34,535 --------------- ------------- --------------- ------------------ ---------------- ------------ ACTUAL COST OF GOODS SOLD 5,336,407 3,844,954 3,783,514 0 0 12,964,875 --------------- ------------- --------------- ------------------ ---------------- ------------ GROSS PROFIT 733,118 310,600 814,849 0 0 1,858,568 --------------- ------------- --------------- ------------------ ---------------- ------------ OPERATING EXPENSES: Selling and Marketing 110,700 35,364 122,547 268,611 --------------- ------------- --------------- ------------------ ---------------- ------------ R & D and Product Services 81,407 98,181 98,967 278,555 --------------- ------------- --------------- ------------------ ---------------- ------------ General and Administrative 209,932 125,201 284,782 619,916 --------------- ------------- --------------- ------------------ ---------------- ------------ TOTAL OPERATING EXPENSES 402,039 258,746 506,296 0 0 1,167,081 --------------- ------------- --------------- ------------------ ---------------- ------------ INCOME BEFORE INTEREST, DEPRECIATION, TAXES, OR EXTRAORDINARY EXPENSES $ 331,079 $51,854 $ 308,553 $0 $0 $ 691,487 --------------- ------------- --------------- ------------------ ---------------- ------------ INTEREST EXPENSE 129,927 132,257 167,257 429,441 --------------- ------------- --------------- ------------------ ---------------- ------------ DEPRECIATION 307,781 281,044 286,760 875,585 --------------- ------------- --------------- ------------------ ---------------- ------------ INCOME TAX EXPENSE (BENEFIT) 0 0 0 0 --------------- ------------- --------------- ------------------ ---------------- ------------ OTHER INCOME (EXPENSE) 256,848 (301,833)* (724,434)** (769,420) --------------- ------------- --------------- ------------------ ---------------- ------------ NET INCOME (LOSS) $ 150,219 ($663,280) ($869,898) $0 $0 ($1,382,959) --------------- ------------- --------------- ------------------ ---------------- ------------
* Includes charge of $352,000 for inventory and net book value of equipment for discontinued product line in the U.K. ** Includes $800,000 charge to increase allowance for doubtful accounts.