EX-99.5 8 dex995.txt INCOME STATEMENT Exhibit 99.5 Page 11
CASE NAME: Aerovox, Inc. FORM OPR-5 CASE NUMBER: 01-14680 jnf FILING MONTH MONTH MONTH MONTH MONTH TO DATE August 25, September 29, October 27, December 01, December 29, 2001 2001 2001 2001 2001 ------------------------------------------------------------------------------------ NET REVENUE (INCOME) $4,598,363 $4,878,674 $4,074,181 $5,275,190 $3,615,244 $32,666,733 ---------- ----------- ---------- ----------- ---------- ----------- COST OF GOODS SOLD: Materials 2,623,795 2,719,102 2,259,541 3,098,513 2,042,127 18,756,000 ---------- ----------- ---------- ----------- ---------- ----------- Labor 414,923 468,719 401,038 457,118 317,440 3,040,629 ---------- ----------- ---------- ----------- ---------- ----------- Manufacturing Overhead 924,540 975,662 799,875 977,402 680,790 5,650,250 ---------- ----------- ---------- ----------- ---------- ----------- COST OF GOODS SOLD AT STANDARD 3,963,258 4,163,483 3,460,454 4,533,033 3,040,357 28,127,668 ---------- ----------- ---------- ----------- ---------- ----------- Variances (favorable)/unfavorable (179,744) 23,666 206,297 448,862 (238,579) 474,781 ---------- ----------- ---------- ----------- ---------- ----------- ACTUAL COST OF GOODS SOLD 3,783,514 4,187,149 3,666,752 4,981,895 2,801,778 28,602,449 ---------- ----------- ---------- ----------- ---------- ----------- GROSS PROFIT 814,849 691,525 407,429 293,295 813,466 4,064,284 ---------- ----------- ---------- ----------- ---------- ----------- OPERATING EXPENSES: Selling and Marketing 122,547 164,255 125,026 161,382 122,768 842,043 ---------- ----------- ---------- ----------- ---------- ----------- R & D and Product Services 98,967 98,550 72,174 95,950 80,489 625,719 ---------- ----------- ---------- ----------- ---------- ----------- General and Administrative 284,782 446,520 515,360 574,064 391,403 2,547,262 ---------- ----------- ---------- ----------- ---------- ----------- TOTAL OPERATING EXPENSES 506,296 709,326 712,559 831,396 594,660 4,015,023 ---------- ----------- ---------- ----------- ---------- ----------- INCOME BEFORE INTEREST, DEPRECIATION, TAXES, OR EXTRAORDINARY EXPENSES $308,553 ($17,800) ($305,130) ($538,101) $218,805 $49,260 ---------- ----------- ---------- ----------- ---------- ----------- INTEREST EXPENSE 167,257 175,872 165,396 167,026 162,683 1,100,418 ---------- ----------- ---------- ----------- ---------- ----------- DEPRECIATION 286,760 243,404 285,386 292,399 283,689 1,980,464 ---------- ----------- ---------- ----------- ---------- ----------- INCOME TAX EXPENSE (BENEFIT) 0 77,162 0 0 (61,536) 15,626 ---------- ----------- ---------- ----------- ---------- ----------- OTHER INCOME (EXPENSE) (724,434)* (256,188) (132,499) (13,198) (131,548) (1,302,853) ---------- ----------- ---------- ----------- ---------- ----------- NET INCOME LOSS ($869,898) ($770,427) ($888,411) ($1,010,724) ($297,579) ($4,350,100) ========== =========== ========== =========== ========== ===========
* Includes $800,000 charge to increase allowance for doubtful accounts.