EX-99.5 8 dex995.txt INCOME STATEMENT 10/28/01-12/01/2001 Exhibit 99.5 Page 11
CASE NAME: Aerovox, Inc. INCOME STATEMENT FORM OPR-5 CASE NUMBER: 01-14680 jnf FOR MONTH ENDED: MONTH MONTH MONTH MONTH July 29, 2001 Aug. 25, 2001 Sept. 29, 2001 Oct. 27, 2001 -------------- ----------------- --------------- ------------------ NET REVENUE (INCOME) $4,155,555 $4,598,363 $4,878,674 $4,074,181 -------------- ----------------- --------------- ------------------ COST OF GOODS SOLD: Materials 2,478,655 2,623,795 2,719,102 2,259,541 -------------- ----------------- --------------- ------------------ Labor 405,280 414,923 468,719 401,038 -------------- ----------------- --------------- ------------------ Manufacturing Overhead 836,566 924,540 975,662 799,875 -------------- ----------------- --------------- ------------------ COST OF GOODS SOLD AT STANDARD 3,720,500 3,963,258 4,163,483 3,460,454 -------------- ----------------- --------------- ------------------ Variances (favorable)/unfavorable 124,454 (179,744) 23,666 206,297 -------------- ----------------- --------------- ------------------ ACTUAL COST OF GOODS SOLD 3,844,954 3,783,514 4,187,149 3,666,752 -------------- ----------------- --------------- ------------------ GROSS PROFIT 310,600 814,849 691,525 407,429 -------------- ----------------- --------------- ------------------ OPERATING EXPENSES: Selling and Marketing 35,364 122,547 164,255 125,026 -------------- ----------------- --------------- ------------------ R & D and Product Services 98,181 98,967 98,550 72,174 -------------- ----------------- --------------- ------------------ General and Administrative 125,201 284,782 446,520 515,360 -------------- ----------------- --------------- ------------------ TOTAL OPERATING EXPENSES 258,746 506,296 709,326 712,559 -------------- ----------------- --------------- ------------------ INCOME BEFORE INTEREST, DEPRECIATION, TAXES, OR EXTRAORDINARY EXPENSES $ 51,854 $308,553 ($17,800) ($305,130) -------------- ----------------- --------------- ------------------ INTEREST EXPENSE 132,257 167,257 175,872 165,396 -------------- ----------------- --------------- ------------------ DEPRECIATION 281,044 286,760 243,404 285,386 -------------- ----------------- --------------- ------------------ INCOME TAX EXPENSE (BENEFIT) 0 0 77,162 0 -------------- ----------------- --------------- ------------------ OTHER INCOME (EXPENSE) (301,833)* (724,434)** (256,188) (132,499) -------------- ----------------- --------------- ------------------ NET INCOME (LOSS) ($663,280) ($869,898) ($770,427) ($888,411) -------------- ----------------- --------------- ------------------ MONTH FILING Dec. 01, 2001 TO DATE ----------------- --------------- NET REVENUE (INCOME) $5,275,190 $29,051,489 ----------------- --------------- COST OF GOODS SOLD: Materials 3,098,513 16,713,873 ----------------- --------------- Labor 457,118 2,723,188 ----------------- --------------- Manufacturing Overhead 977,402 5,650,250 ----------------- --------------- COST OF GOODS SOLD AT STANDARD 4,533,033 25,087,311 ----------------- --------------- Variances (favorable)/unfavorable 448,862 713,360 ----------------- --------------- ACTUAL COST OF GOODS SOLD 4,981,895 25,800,671 ----------------- --------------- GROSS PROFIT 293,295 3,250,818 ----------------- --------------- OPERATING EXPENSES: Selling and Marketing 161,382 719,274 ----------------- --------------- R & D and Product Services 95,950 545,229 ----------------- --------------- General and Administrative 574,064 2,155,860 ----------------- --------------- TOTAL OPERATING EXPENSES 831,396 3,420,363 ----------------- --------------- INCOME BEFORE INTEREST, DEPRECIATION, TAXES, OR EXTRAORDINARY EXPENSES ($538,101) ($169,545) ----------------- --------------- INTEREST EXPENSE 167,026 937,735 ----------------- --------------- DEPRECIATION 292,399 1,696,774 ----------------- --------------- INCOME TAX EXPENSE (BENEFIT) 0 77,162 ----------------- --------------- OTHER INCOME (EXPENSE) (13,198) (1,171,305) ----------------- --------------- NET INCOME (LOSS) ($1,010,724) ($4,052,522) ----------------- ---------------
* 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.