EX-99 5 l85335aex99.txt EXHIBIT 99 1 EXHIBIT 99 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS ON THE FINANCIAL STATEMENT SCHEDULES To the Board of Directors and Shareholders of SIFCO Industries, Inc.: We have audited in accordance with auditing standards generally accepted in the United States, the consolidated financial statements included in SIFCO Industries, Inc. and Subsidiaries' annual report to shareholders incorporated by reference in this Form 10-K, and have issued our report thereon dated October 27, 2000. Our audit was made for the purpose of forming an opinion on those statements taken as a whole. The schedule listed in the index of financial statement schedules is the responsibility of the Company's management and is presented for purposes of complying with the Securities and Exchange Commission's rules and is not part of the basic consolidated financial statements. This schedule has been subjected to the auditing procedures applied in the audit of the basic consolidated financial statements and, in our opinion, fairly states in all material respects the financial data required to be set forth therein in relation to the basic consolidated financial statements taken as a whole. ARTHUR ANDERSEN LLP Cleveland, Ohio, October 27, 2000. 2 SCHEDULE II SIFCO INDUSTRIES, INC. AND SUBSIDIARIES ALLOWANCE FOR DOUBTFUL ACCOUNTS FOR THE YEARS ENDED SEPTEMBER 30 2000, 1999 AND 1998 (Amounts in thousands)
2000 1999 1998 ---- ---- ---- Balance beginning of period $ 722 $ 774 $829 Additions - charged to costs and expenses 220 84 83 Deductions - accounts determined to be uncollectible (140) (169) (152) Recoveries of fully reserved accounts 23 94 8 Exchange rate changes and other (60) (61) 6 ----- ----- ---- Balance end of period $ 765 $ 722 $774 ===== ===== ====