Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Sep. 30, 2012

Condensed Consolidating Financial Statements

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet

September 30, 2012

(Unaudited)

	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Reclassifications and Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	8,398		$	118,578	$	33,519	$	—		$	160,495
Accounts receivable, net	—			41,154		58,006		—			99,160
Intercompany receivable	268,826			214,603		215,640		(699,069		)	—
Inventories, net	—			129,429		95,344		—			224,773
Prepaid expenses and other	276			14,258		26,507		—			41,041
Deferred income taxes	—			872		4,786		—			5,658
Total current assets	277,500			518,894		433,802		(699,069		)	531,127
Property and equipment, net	14			114,612		201,556		—			316,182
Investments in subsidiaries	431,379			467,565		10,678		(909,622		)	—
Goodwill	—			35,584		—		—			35,584
Intangible assets, net	—			30,899		9,203		—			40,102
Other assets	7,404			6,347		4,051		—			17,802
Long-term intercompany receivable	76,659			60,250		2,881		(139,790		)	—
Total assets	$	792,956		$	1,234,151	$	662,171	$	(1,748,481	)	$	940,797
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	—		$	25	$	1,551	$	—		$	1,576
Accounts payable, trade	57			38,862		43,237		—			82,156
Intercompany payable	60,976			451,005		159,226		(671,207		)	—
Accrued expenses	35,523			17,008		36,092		—			88,623
Income taxes payable	(2,947		)	3,055		514		—			622
Total current liabilities	93,609			509,955		240,620		(671,207		)	172,977
Long-term debt, less current portion	359,066			—		555		—			359,621
Other non-current obligations	26,968			4,504		58,626		—			90,098
Deferred income taxes	—			1,007		3,781		—			4,788
Long-term intercompany payable	—			76,659		63,131		(139,790		)	—
Stockholders’ equity	313,313			642,026		295,458		(937,484		)	313,313
Total liabilities and stockholders’ equity	$	792,956		$	1,234,151	$	662,171	$	(1,748,481	)	$	940,797

Condensed Consolidating Balance Sheet

March 31, 2012

	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	7,933		$	178,205	$	24,383		$	—		$	210,521
Accounts receivable, net	—			42,706		62,244			—			104,950
Intercompany receivable	251,970			55,863		171,921			(479,754		)	—
Inventories, net	—			121,611		90,623			—			212,234
Prepaid expenses and other	306			13,537		18,416			—			32,259
Deferred income taxes	—			192		6,178			—			6,370
Total current assets	260,209			412,114		373,765			(479,754		)	566,334
Property and equipment, net	20			114,615		201,213			—			315,848
Investments in subsidiaries	454,517			435,970		(4,622		)	(885,865		)	—
Goodwill	—			36,676		—			—			36,676
Intangible assets, net	—			31,630		9,897			—			41,527
Other assets	7,796			6,160		1,211			—			15,167
Long-term intercompany receivable	79,185			62,235		1,065			(142,485		)	—
Total assets	$	801,727		$	1,099,400	$	582,529		$	(1,508,104	)	$	975,552
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	—		$	25	$	1,926		$	—		$	1,951
Accounts payable, trade	460			35,206		39,490			(752		)	74,404
Intercompany payable	34,830			315,906		122,799			(473,535		)	—
Accrued expenses	30,747			23,007		35,325			—			89,079
Income taxes payable	(2,778		)	3,031		2,003			—			2,256
Total current liabilities	63,259			377,175		201,543			(474,287		)	167,690
Long-term debt, less current portion	343,539			—		1,841			—			345,380
Other non-current obligations	35,933			5,400		59,896			—			101,229
Deferred income taxes	—			272		1,985			—			2,257
Long-term intercompany payable	—			79,185		63,300			(142,485		)	—
Stockholders’ equity	358,996			637,368		253,964			(891,332		)	358,996
Total liabilities and stockholders’ equity	$	801,727		$	1,099,400	$	582,529		$	(1,508,104	)	$	975,552

Condensed Consolidating Statement of Operations

Condensed Consolidating Statement of Operations

For the Quarter Ended September 30, 2012

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	233,867		$	226,355		$	(244,231	)	$	215,991
Operating costs and expenses:
Cost of sales	675			214,546			201,726			(233,894		)	183,053
Selling, general and administrative expenses	13,436			10,977			13,907			(10,337		)	27,983
Research and development	59			4,741			2,033			—			6,833
Restructuring charges	—			1,797			6,725			—			8,522
Goodwill impairment	—			1,092			—			—			1,092
Write down of long-lived assets	—			—			4,234			—			4,234
Settlement gain on benefit plan	—			—			(1,675		)	—			(1,675		)
Net gain on sales and disposals of assets	—			—			(31		)	—			(31		)
Total operating costs and expenses	14,170			233,153			226,919			(244,231		)	230,011
Operating income (loss)	(14,170		)	714			(564		)	—			(14,020		)
Other (income) expense, net	(3,224		)	11,493			845			—			9,114
Equity in earnings of subsidiaries	13,975			—			—			(13,975		)	—
Income (loss) before income taxes	(24,921		)	(10,779		)	(1,409		)	13,975			(23,134		)
Income tax expense	—			47			1,740			—			1,787
Net income (loss)	$	(24,921	)	$	(10,826	)	$	(3,149	)	$	13,975		$	(24,921	)

Condensed Consolidating Statement of Operations

For the Quarter Ended September 30, 2011

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	249,751		$	245,315		$	(229,552	)	$	265,514
Operating costs and expenses:
Cost of sales	124			200,097			225,122			(222,024		)	203,319
Selling, general and administrative expenses	5,617			17,496			13,621			(8,379		)	28,355
Research and development	—			5,276			2,086			—			7,362
Restructuring charges	—			1,357			248			—			1,605
Net (gain) loss on sales and disposals of assets	—			10			(50		)	—			(40		)
Total operating costs and expenses	5,741			224,236			241,027			(230,403		)	240,601
Operating income (loss)	(5,741		)	25,515			4,288			851			24,913
Other (income) expense, net	(3,221		)	15,907			(4,138		)	—			8,548
Equity in earnings of subsidiaries	(16,584		)	—			—			16,584			—
Income before income taxes	14,064			9,608			8,426			(15,733		)	16,365
Income tax expense (benefit)	(254		)	(506		)	2,807			—			2,047
Net income	$	14,318		$	10,114		$	5,619		$	(15,733	)	$	14,318

Condensed Consolidating Statement of Operations

For the Six Months Ended September 30, 2012

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	474,811		$	455,070		$	(490,258	)	$	439,623
Operating costs and expenses:
Cost of sales	1,093			432,864			409,303			(468,886		)	374,374
Selling, general and administrative expenses	15,041			31,720			29,849			(21,372		)	55,238
Research and development	100			10,029			4,437			—			14,566
Restructuring charges	—			1,960			7,826			—			9,786
Goodwill impairment	—			1,092			—			—			1,092
Write down of long-lived assets	—			—			4,234			—			4,234
Settlement gain on benefit plan	—			—			(1,675		)	—			(1,675		)
Net loss on sales and disposals of assets	—			33			40			—			73
Total operating costs and expenses	16,234			477,698			454,014			(490,258		)	457,688
Operating income (loss)	(16,234		)	(2,887		)	1,056			—			(18,065		)
Other (income) expense, net	6,963			14,652			(564		)	—			21,051
Equity in earnings of subsidiaries	19,477			—			—			(19,477		)	—
Income (loss) before income taxes	(42,674		)	(17,539		)	1,620			19,477			(39,116		)
Income tax expense	—			107			3,451			—			3,558
Net loss	$	(42,674	)	$	(17,646	)	$	(1,831	)	$	19,477		$	(42,674	)

Condensed Consolidating Statement of Operations

For the Six Months Ended September 30, 2011

	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	519,438	$	525,337		$	(489,405	)	$	555,370
Operating costs and expenses:
Cost of sales	286			426,505		459,690			(472,658		)	413,823
Selling, general and administrative expenses	17,066			33,211		25,715			(17,361		)	58,631
Research and development	—			10,303		4,145			—			14,448
Restructuring charges	—			1,838		792			—			2,630
Net loss on sales and disposals of assets	3			29		51			—			83
Total operating costs and expenses	17,355			471,886		490,393			(490,019		)	489,615
Operating income (loss)	(17,355		)	47,552		34,944			614			65,755
Other (income) expense, net	(7,666		)	23,951		(544		)	69			15,810
Equity in earnings of subsidiaries	(54,664		)	—		—			54,664			—
Income before income taxes	44,975			23,601		35,488			(54,119		)	49,945
Income tax expense (benefit)	(1,192		)	97		4,873			—			3,778
Net income	$	46,167		$	23,504	$	30,615		$	(54,119	)	$	46,167

Condensed Consolidating Statement of Comprehensive Loss

Condensed Consolidating Statement of Comprehensive Income (Loss)

Quarter Ended September 30, 2012

Comprehensive income (loss) $ 2,015 $ (663 ) $ 1,079 $ — $ 2,431

Condensed Consolidating Statement of Comprehensive Loss

Quarter Ended September 30, 2011

Comprehensive loss $ (5,633 ) $ (1,300 ) $ (4,650 ) $ — $ (11,583 )

Condensed Consolidating Statement of Comprehensive Income (Loss)

Six Months Ended September 30, 2012

Comprehensive income (loss) $ (2,526 ) $ 379 $ (3,215 ) $ — $ (5,362 )

Condensed Consolidating Statement of Comprehensive Loss

Six Months Ended September 30, 2011

Comprehensive loss $ (4,174 ) $ (1,059 ) $ (3,199 ) $ — $ (8,432 )

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows

For the Six Months Ended September 30, 2012

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations		Consolidated
Sources (uses) of cash and cash equivalents
Net cash provided by (used in) operating activities	$	(9,510	)	$	(48,750	)	$	31,636		$	—	$	(26,624	)
Investing activities:
Capital expenditures	—			(9,877		)	(20,466		)	—		(30,343		)
Net cash used in investing activities	—			(9,877		)	(20,466		)	—		(30,343		)
Financing activities:
Proceeds from issuance of debt	15,825			—			—			—		15,825
Deferred acquisition payments	(5,617		)	(1,000		)	—			—		(6,617		)
Payments of long-term debt	—			—			(1,576		)	—		(1,576		)
Proceeds from exercise of stock options	42			—			—			—		42
Debt issuance costs	(275		)	—			—			—		(275		)
Net cash provided by (used in) financing activities	9,975			(1,000		)	(1,576		)	—		7,399
Net increase (decrease) in cash and cash equivalents	465			(59,627		)	9,594			—		(49,568		)
Effect of foreign currency fluctuations on cash	—			—			(458		)	—		(458		)
Cash and cash equivalents at beginning of fiscal period	7,933			178,205			24,383			—		210,521
Cash and cash equivalents at end of fiscal period	$	8,398		$	118,578		$	33,519		$	—	$	160,495

Condensed Consolidating Statement of Cash Flows

For the Six Months Ended September 30, 2011

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations		Consolidated
Sources (uses) of cash and cash equivalents
Net cash provided by operating activities	$	4,214		$	32,545		$	14,230		$	—	$	50,989
Investing activities:
Capital expenditures	(1		)	(11,505		)	(8,599		)	—		(20,105		)
Acquisition, net of cash received	—			(11,584		)	—			—		(11,584		)
Net cash used in investing activities	(1		)	(23,089		)	(8,599		)	—		(31,689		)
Financing activities:
Payments of long-term debt	(4,084		)	—			—			—		(4,084		)
Net payments under other credit facilities	—			—			(3,153		)	—		(3,153		)
Proceeds from exercise of stock options	159			—			—			—		159
Debt issuance costs	—			(29		)	—			—		(29		)
Change in restricted cash	—			(36,497		)	—			—		(36,497		)
Net cash used in financing activities	(3,925		)	(36,526		)	(3,153		)	—		(43,604		)
Net increase (decrease) in cash and cash equivalents	288			(27,070		)	2,478			—		(24,304		)
Effect of foreign currency fluctuations on cash	—			—			(584		)	—		(584		)
Cash and cash equivalents at beginning of fiscal period	6,417			119,326			26,308			—		152,051
Cash and cash equivalents at end of fiscal period	$	6,705		$	92,256		$	28,202		$	—	$	127,163