-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FZsGTn+XArojxIXpASmr+adqumtWchLbKKzap3odYopCtNznfqhIHwIxwYQTyT87 ajVMCJsLh5luc3s5jgvmAg== 0000950130-00-006550.txt : 20001211 0000950130-00-006550.hdr.sgml : 20001211 ACCESSION NUMBER: 0000950130-00-006550 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20001031 FILED AS OF DATE: 20001208 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CABLE DESIGN TECHNOLOGIES CORP CENTRAL INDEX KEY: 0000913142 STANDARD INDUSTRIAL CLASSIFICATION: DRAWING AND INSULATING NONFERROUS WIRE [3357] IRS NUMBER: 363601505 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-12561 FILM NUMBER: 785921 BUSINESS ADDRESS: STREET 1: 661 ANDERSON DR STREET 2: FOSTER PLZ 7 CITY: PITTSBURGH STATE: PA ZIP: 15220 BUSINESS PHONE: 4129372300 MAIL ADDRESS: STREET 1: FOSTER PLAZA 7 STREET 2: 661 ANDERSEN DRIVE CITY: PITTSBURGH STATE: PA ZIP: 15220 10-Q 1 0001.txt FORM 10-Q ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2000 Commission File No. 0-22724 CABLE DESIGN TECHNOLOGIES CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-3601505 (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) Foster Plaza 7 661 Andersen Drive Pittsburgh, PA 15220 (Address of principal executive offices) (412) 937-2300 Registrant's telephone number, including area code Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No _______ --------- Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Class Outstanding at 12/5/00 ----- ---------------------- Common Stock, $.01 Par Value 43,746,157 CABLE DESIGN TECHNOLOGIES CORPORATION ------------------------------------- TABLE OF CONTENTS -----------------
Page ---- PART I FINANCIAL INFORMATION ITEM 1 Financial Statements....................................... 3 Review Report of Independent Public Accountants for the Three Months Ended October 31, 2000 and 1999........... 4 Condensed Consolidated Statements of Income - Unaudited for the Three Months Ended October 31, 2000 and 1999.................................. 5 Condensed Consolidated Balance Sheets as of October 31, 2000 (Unaudited) and July 31, 2000....... 6 Condensed Consolidated Statements of Cash Flows - Unaudited for the Three Months Ended October 31, 2000 and 1999............................ 7 Notes to Condensed Consolidated Financial Statements -Unaudited............................ 8 ITEM 2 Management's Discussion and Analysis of Financial Condition and Results of Operations........................ 11 PART II OTHER INFORMATION ITEM 1 Legal Proceedings.......................................... 14 ITEM 2 Changes in Securities...................................... 14 ITEM 3 Defaults upon Senior Securities............................ 14 ITEM 4 Submission of Matters to a Vote of Security Holders........ 14 ITEM 5 Other Information.......................................... 14 ITEM 6 Exhibits and Reports on Form 8-K........................... 14 SIGNATURES ........................................................... 15
PART I. FINANCIAL INFORMATION Item 1. Financial Statements In the opinion of Cable Design Technologies Corporation's (the "Company") management, the unaudited condensed consolidated financial statements included in this filing on Form 10-Q reflect all adjustments which are considered necessary for a fair presentation of financial information for the periods presented. REVIEW BY INDEPENDENT PUBLIC ACCOUNTANTS Arthur Andersen LLP has made a review, based upon procedures adopted by the American Institute of Certified Public Accountants, of the unaudited condensed consolidated financial statements as of and for the three month periods ended October 31, 2000 and 1999, contained in this report. As stated on page 4, Arthur Andersen LLP did not audit and accordingly does not express an opinion on the unaudited consolidated financial statements; however as a result of such review, they are not aware of any material modifications that should be made to the financial statements referred to above for them to be in conformity with generally accepted accounting principles. 3 Report of Independent Public Accountants ---------------------------------------- To the Board of Directors and Stockholders of Cable Design Technologies Corporation: We have reviewed the accompanying condensed consolidated balance sheet of Cable Design Technologies Corporation (a Delaware corporation) and Subsidiaries as of October 31, 2000, and the related condensed consolidated statements of income and cash flows for the three month periods ended October 31, 2000 and 1999. These financial statements are the responsibility of the Company's management. We conducted our review in accordance with standards established by the American Institute of Certified Public Accountants. A review of interim financial information consists principally of applying analytical procedures to financial data and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with auditing standards generally accepted in the United States, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to the financial statements referred to above for them to be in conformity with accounting principles generally accepted in the United States. We have previously audited, in accordance with auditing standards generally accepted in the United States, the consolidated balance sheet of Cable Design Technologies Corporation and Subsidiaries as of July 31, 2000, and, in our report dated September 15, 2000, we expressed an unqualified opinion on that statement. In our opinion, the information set forth in the accompanying condensed consolidated balance sheet as of July 31, 2000, is fairly stated, in all material respects, in relation to the balance sheet from which it has been derived. Pittsburgh, Pennsylvania, /s/Arthur Andersen LLP November 22, 2000 4 CABLE DESIGN TECHNOLOGIES CORPORATION AND SUBSIDIARIES ------------------------------------------------------ CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED ------------------------------------------------------- (In thousands, except share and per share data) -----------------------------------------------
Three Months Ended October 31, ------------------------- 2000 1999 ------------ ----------- Net sales $ 214,726 $ 187,622 Cost of sales 150,455 131,336 ------------ ----------- Gross profit 64,271 56,286 Selling, general and administrative expenses 33,852 29,961 Research and development expenses 1,250 1,175 ------------ ----------- Income from operations 29,169 25,150 Interest expense, net 2,394 2,985 Other expense, net 208 864 ------------ ----------- Income before income taxes 26,567 21,301 Income tax provision 10,358 8,317 ------------ ----------- Net income $ 16,209 $ 12,984 ============ =========== Basic earnings per common share $ 0.37 $ 0.31 ============ =========== Diluted earnings per common share $ 0.36 $ 0.30 ============ =========== Weighted average common shares outstanding 43,662,733 42,294,237 ============ =========== Weighted average common and common equivalent shares outstanding 45,276,626 43,324,488 =========== ===========
The accompanying notes are an integral part of these statements. 5 CABLE DESIGN TECHNOLOGIES CORPORATION AND SUBSIDIARIES ------------------------------------------------------ CONDENSED CONSOLIDATED BALANCE SHEETS ------------------------------------- (In thousands, except share and per share data) -----------------------------------------------
As of As of October 31, July 31, 2000 2000 ------------- -------- (unaudited) ASSETS - ------ Current Assets: Cash and cash equivalents $ 15,931 $ 16,454 Trade accounts receivable, net of allowance for uncollectible accounts of $6,654 and $6,180, respectively 140,181 145,717 Inventories 152,156 145,015 Other current assets 18,342 18,974 --------- -------- Total current assets 326,610 326,160 Property, plant and equipment, net 209,817 205,880 Goodwill, net 71,925 74,539 Other assets, net 8,130 8,774 --------- -------- Total assets $616,482 $615,353 ========= ======== LIABILITIES AND STOCKHOLDERS' EQUITY - ------------------------------------ Liabilities: Current liabilities $114,608 $109,450 Long-term debt, excluding current maturities 135,290 153,336 Other non-current liabilities 36,056 36,023 --------- -------- Total liabilities 285,954 298,809 --------- -------- Stockholders' Equity: Preferred stock, par value $.01 per share - authorized 1,000,000 shares, no shares issued --- --- Common stock, par value $.01 per share - authorized 100,000,000 shares, 47,499,199 and 47,362,880 shares issued, respectively 475 316 Paid in capital 195,718 192,956 Common stock issuable, 21,311 and 19,573 shares, respectively 421 367 Retained earnings 199,217 183,166 Treasury stock, at cost, 3,781,828 and 3,867,528 shares, respectively (47,342) (48,415) Deferred compensation (893) --- Accumulated other comprehensive deficit (17,068) (11,846) --------- -------- Total stockholders' equity 330,528 316,544 --------- -------- Total liabilities and stockholders' equity $616,482 $615,353 ========= ========
The accompanying notes are an integral part of these statements. 6 CABLE DESIGN TECHNOLOGIES CORPORATION AND SUBSIDIARIES ------------------------------------------------------ CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED ----------------------------------------------------------- (In thousands) --------------
Three Months Ended October 31, ------------------- 2000 1999 -------- -------- NET CASH PROVIDED BY OPERATING ACTIVITIES $ 24,346 $ 18,437 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property, plant and equipment (14,042) (5,426) -------- -------- Net cash used by investing activities (14,042) (5,426) CASH FLOWS FROM FINANCING ACTIVITIES: Net change in revolving note borrowings (12,228) (11,184) Funds provided by long-term debt 612 131 Funds used to reduce long-term debt (1,137) (877) Common stock issued or issuable 415 416 Net proceeds from exercise of stock options 1,989 640 -------- -------- Net cash used by financing activities (10,349) (10,874) EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (478) (5) -------- -------- Net (decrease) increase in cash (523) 2,132 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 16,454 11,424 -------- -------- CASH AND CASH EQUIVALENTS, END OF PERIOD $ 15,931 $ 13,556 ======== ======== Supplemental disclosure of cash flow information: Cash paid during the period for: Interest $ 2,523 $ 2,924 ======== ======== Income taxes $ 3,396 $ 6,862 ======== ========
The accompanying notes are an integral part of these statements. 7 CABLE DESIGN TECHNOLOGIES CORPORATION AND SUBSIDIARIES ------------------------------------------------------ NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - UNAUDITED ---------------------------------------------------------------- 1. BASIS OF PRESENTATION --------------------- The condensed consolidated financial statements presented herein are unaudited. Certain information and footnote disclosures normally prepared in accordance with generally accepted accounting principles have been either condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. Although the registrant believes that all adjustments necessary for a fair presentation have been made, interim period results are not necessarily indicative of the results of operations for a full year. As such, these financial statements should be read in conjunction with the financial statements and notes thereto included in the registrant's most recent Form 10-K which was filed for the fiscal year ended July 31, 2000. 2. SIGNIFICANT ACCOUNTING POLICIES ------------------------------- Amounts billed to customers for shipping and handling costs are included in net sales in the accompanying statements of income. Shipping and handling costs incurred by the Company for the delivery of goods to customers are classified as a component of either cost of sales or selling, general and administrative expenses ("SG&A"), according to each specific operating unit's practice. Shipping and handling costs included in SG&A were $2.7 million and $1.9 million for the three months ended October 31, 2000 and 1999, respectively. . INVENTORIES ----------- Inventories of the Company consist of the following: October 31, July 31, 2000 2000 ---------- -------- (In thousands) Raw materials $ 41,938 $ 40,779 Work-in-process 39,197 35,268 Finished goods 71,021 68,968 -------- -------- $152,156 $145,015 ======== ======== 8 4. EARNINGS PER SHARE ------------------ Basic earnings per common share are computed based on the weighted average common shares outstanding. Diluted earnings per common share are computed based on the weighted average common shares outstanding plus additional shares assumed to be outstanding to reflect the dilutive effect of common stock equivalents. The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended October 31, --------------------------- 2000 1999 ----------- ----------- (In thousands, except share and per share data) Net income $ 16,209 $ 12,984 ----------- ----------- Basic earnings per common share: Weighted average common shares outstanding 43,662,733 42,294,237 Basic earnings per common share $ 0.37 $ 0.31 =========== =========== Diluted earnings per common share: Weighted average common shares outstanding 43,662,733 42,294,237 Shares issuable from assumed exercise of dilutive stock options 1,613,893 1,030,251 ----------- ----------- Weighted average common and common equivalent shares outstanding 45,276,626 43,324,488 Diluted earnings per common share $ 0.36 $ 0.30 =========== ===========
Options to purchase 11,250 and 159,000 shares of common stock were outstanding during the three month periods ended October 31, 2000 and 1999, respectively, but were not included in the computation of diluted earnings per common share as the option's exercise price was greater than the average market price of the common stock for the respective periods. 5. INDUSTRY SEGMENT INFORMATION ---------------------------- The Company's operations are organized into two business segments: the Network Communication segment and the Specialty Electronic segment. The Network Communication segment encompasses connectivity products used within computer networks and communication infrastructures for the electronic transmission of data, voice, and multimedia. Products included in this segment are high performance network cable, fiber optic cable, and passive and active components, including connectors, wiring racks and panels, and interconnecting hardware for end-to-end network structured wiring systems, and communication cable products for local loop, central office, wireless and other applications. The Specialty Electronic segment encompasses electronic cable products for automation and process control applications as well as specialized wire and cable products for niche markets, including commercial aviation and automotive electronics. The Company evaluates segment performance based on operating profit excluding net nonrecurring items, after allocation of Corporate expenses. 9 The Company has no inter-segment revenues. Summarized financial information for the Company's business segments is as follows:
Network Specialty Communication Electronic Segment Segment Total -------------- ---------- --------- Three Months Ended October 31, (In thousands) Sales: 2000 $144,894 $69,832 $214,726 1999 $126,014 $61,608 $187,622 Segment Operating Profit: 2000 $ 17,990 $11,179 $ 29,169 1999 $ 15,315 $ 9,835 $ 25,150
6. OTHER COMPREHENSIVE INCOME -------------------------- Comprehensive income is defined as all changes in stockholders' equity during a period except those resulting from investment by, or distribution to, stockholders. The Company's comprehensive income differs from net income due to foreign currency translation adjustments. Comprehensive income was $11.0 million and $14.3 million for the three months ended October 31, 2000 and 1999, respectively. 10 Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Cable Design Technologies is a leading manufacturer of technologically advanced connectivity products for the Network Communication and Specialty Electronic marketplaces. Network Communication encompasses connectivity products used within computer networks and communication infrastructures for the electronic transmission of data, voice and multimedia. Products included in this segment are high bandwidth network and interconnect cables, fiber optic cable and passive components, including connectors, wiring racks and panels, and interconnecting hardware for end-to-end network structured wiring systems, and communication cable products for local loop, central office, wireless and other applications. The Specialty Electronic segment encompasses electronic cable products for automation and process control applications as well as specialized wire and cable products for niche markets, including commercial aviation and automotive electronics. This discussion and analysis of the Company's financial condition and results of operations should be read in conjunction with the Company's unaudited condensed consolidated financial statements and the notes thereto. Results of Operations Overview Sales for the three months ended October 31, 2000 ("first quarter 2001") were $214.7 million, an increase of 14% compared to the three months ended October 31, 1999 ("first quarter 2000"). Excluding the impact of unfavorable foreign currency translation, mainly due to weakness of the Euro and British Pound Sterling, the increase in sales would have been approximately 17%. Sales for the Network Communication segment increased 15% to $144.9 million, and represented 67% of total revenue. The increase in sales for this segment was led by 48% growth in sales of enhanced gigabit network cables (Category 5e and Category 6), 68% growth in sales of central office telecommunication cable products, and 56% growth in fiber optic connectivity product sales. Sales for the Specialty Electronic segment were $69.8 million, an increase of 13% compared to the first quarter 2000 primarily due to a 20% increase in sales of automation and process control cable products. The operating margin was 13.6% for the first quarter 2001 versus 13.4% for the first quarter 2000. Net income for the first quarter 2001 increased $3.2 million, or 25%, to $16.2 million ($0.36 per diluted share) compared to net income of $13.0 million ($0.30 per diluted share) for the first quarter 2000. Three Months Ended October 31, 2000 Compared to Three Months Ended October 31, 1999 Sales for the first quarter 2001 increased $27.1 million, or 14%, to $214.7 million compared to $187.6 million for the first quarter 2000. Network Communication segment sales increased $18.9 million, or 15%, to $144.9 million for the first quarter 2001 compared to $126.0 million for the first quarter 2000, and Specialty Electronic segment sales increased $8.2 million, or 13%, to $69.8 million for the first quarter 2001 compared to $61.6 million for the first quarter 2000. For the Network Communication segment, sales of gigabit network cables increased 48% over the same period last year as a result of growth in demand for higher bandwidth within premise network systems. The increased demand for gigabit network cables was partially offset by a 29% decline in sales of the lower performance rated Category 5 network cable, as the Company continues to transition its product mix to meet the demand for the higher performance gigabit network cables. The Company also experienced lower average selling prices compared to the first quarter 2000 in the U.S. marketplace for Category 5 and 5e network cables. Sales of central office telecommunication cable products increased 68% over the same period last year, primarily due to demand from local exchange carriers, Internet service providers and application service providers within the telecommunication industry. Sales of fiber optic connectivity products increased 56% over the first quarter 2000. To a lesser degree, sales growth in other product lines contributed to the increase in Network Communication segment sales, including growth of 22% for network structured wiring components (excluding components used in fiber optic applications). These increases were partially offset by a 42% decline in sales of wireless products attributable to lower sales of wireless assembly services to a principal customer. The increase in sales for the Specialty Electronic segment was primarily due to an increase in sales of automation and process control cable products, including sales attributable to the Industria Tecnica Cavi ("ITC/CDT") acquisition. Sales outside of North America were $46.2 million for the first quarter 2001, an increase of 13% compared to sales of $41.0 million for the first quarter 2000. The increase in international sales was primarily due to higher sales of Network Communication products in Western Europe as well as sales of Specialty Electronic cable products attributable to the ITC/CDT acquisition. The gross margin for the first quarter 2001 was 29.9% compared to 30.0% for the first quarter 2000. The change in the gross margin was due to a lower margin for the Specialty Electronic segment which was partially offset by a slight increase in the Network Communication segment gross margin. The decrease in the gross margin for the Specialty Electronic segment was 11 primarily due to product mix and a higher average cost of copper. The increase in the Network Communication segment gross margin was primarily due to a higher margin for computer interconnect products as a result of volume efficiencies. Selling, general and administrative expense ("SG&A") for the first quarter 2001 was $33.9 million compared to $30.0 million for the first quarter 2000. The increase in SG&A was primarily due to the additional SG&A of businesses acquired, higher sales volume and the costs associated with the recently established European and Fiber Optic management groups. As a percentage of sales, SG&A for the first quarter 2001 declined to 15.8% compared to 16.0% for the first quarter 2000. Income from operations for the first quarter 2001 increased $4.0 million, or 16%, to $29.2 million compared to $25.2 million for the first quarter 2000. The operating margin increased to 13.6% for the first quarter 2001 compared to 13.4% for the first quarter 2000. Interest expense decreased $0.6 million to $2.4 million for the first quarter 2001 compared to $3.0 million for the first quarter 2000, primarily due to the lower average balance of debt outstanding. The effective tax rate of 39.0% for the first quarter 2001 was unchanged from the same period last year. Net income for the first quarter 2001 increased $3.2 million, or 25%, to $16.2 million ($0.36 per diluted share) compared to net income of $13.0 million ($0.30 per diluted share) for the first quarter 2000. Financial Condition Liquidity and Capital Resources ------------------------------- The Company generated $24.3 million of net cash from operating activities during the first quarter 2001, including a $1.8 million decrease in operating working capital. The change in operating working capital was primarily the result of increases in accounts payable and other accrued liabilities of $7.4 million and a decrease in accounts receivable of $3.2 million, which were partially offset by an increase in inventories of $9.9 million. The change in operating working capital excludes changes in cash and cash equivalents and current maturities of long-term debt. The Company invested $14.0 million during the first quarter 2001 in facilities and machinery and equipment, including the purchase of a building which was previously leased. Net cash used by financing activities of $10.3 million included $12.8 million used to reduce outstanding debt partially offset by $2.0 million received from the exercise of stock options. The Company's primary bank credit agreement (the "Credit Agreement") consists of a $121.3 million U.S. revolving facility and a CDN $115.0 million Canadian revolving facility equivalent to approximately $75.5 million. The U.S. revolving facility includes a $50.0 million Deutschmark sub-facility. The Company also maintains a demand bank credit facility in the United Kingdom equivalent to approximately $10.9 million (the "Foreign Facility"). As of October 31, 2000, the Company had availability of $61.9 million and $5.5 million under the Credit Agreement and Foreign Facility, respectively. The Company also has a 364-day, unsecured bank revolving credit agreement (the "364-day Facility") with a maximum principal amount of $15 million, which will expire on December 10, 2000. As of October 31, 2000, there were no amounts outstanding under the 364-day Facility. Based on an analysis of current expectations for its business, management believes that the Company's cash flow from operations and funds available under its credit agreements will provide it with sufficient liquidity to meet its current liquidity needs. Fluctuation in Copper Price The cost of copper in inventories, including finished goods, reflects purchases over various periods of time ranging from one to several months for each of the Company's operations. For certain communication cable products, profitability is generally not significantly affected by volatility of copper prices as selling prices are generally adjusted for changes in the market price of copper, however, differences in the timing of selling price adjustments do occur and may impact near term results. For other products, although selling prices are not generally adjusted to directly reflect changes in copper prices, the relief of copper costs from inventory for those operations having longer inventory cycles may affect profitability from one period to the next following periods of significant movement in the cost of copper. The Company does not engage in activities to hedge the underlying value of its copper inventory. 12 Forward-Looking Statements -- Under the Private Securities Litigation Act of 1995 Certain statements in this quarterly report are forward-looking statements, including, without limitation, statements regarding future financial results and performance, and the Company's or management's beliefs, expectations or opinions. These statements are subject to various risks and uncertainties, many of which are outside the control of the Company, including the level of market demand for the Company's products, competitive pressures, the ability to achieve reductions in operating costs and to continue to integrate acquisitions, price fluctuations of raw materials and the potential unavailability thereof, foreign currency fluctuations, technological obsolescence, environmental matters and other specific factors discussed in the Company's Annual Report on Form 10-K for the year ended July 31, 2000, and other Securities and Exchange Commission filings. The information contained herein represents management's best judgment as of the date hereof based on information currently available; however, the Company does not intend to update this information to reflect developments or information obtained after the date hereof and disclaims any legal obligation to the contrary. 13 PART II. OTHER INFORMATION Item 1. Legal Proceedings None. Item 2. Changes in Securities None. Item 3. Defaults upon Senior Securities None. Item 4. Submission of Matters to a Vote of Security Holders None. Item 5. Other Information None. Item 6. Exhibits and Reports on Form 8-K (a) Exhibits: 15.1 Letter of Arthur Andersen LLP regarding unaudited interim financial statement information. 27.1 Financial data schedule. (b) Reports on Form 8-K: None. 14 SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CABLE DESIGN TECHNOLOGIES CORPORATION /s/ Paul M. Olson ------------------------------------- December 8, 2000 Paul M. Olson President and Chief Executive Officer /s/ Kenneth O. Hale ------------------------------------- December 8, 2000 Kenneth O. Hale Vice President and Chief Financial Officer 15 EX-15.1 2 0002.txt LETTER OF ARTHUR ANDERSEN LLP EXHIBIT 15.1 November 22, 2000 To the Stockholders and Board of Directors of Cable Design Technologies Corporation: We are aware that Cable Design Technologies Corporation has incorporated by reference in its Registration Statements on Form S-3 (Registration No. 333- 00554); Form S-8 (Registration No. 333-80229); Form S-8 (Registration No. 333- 76351); Form S-8 (Registration No. 33-73272); Form S-8 (Registration No. 33- 78418); Form S-8 (Registration No. 333-2450); Form S-8 (Registration No. 333- 6743); and Form S-8 (Registration No. 333-17443) its Form 10-Q for the quarter ended October 31, 2000, which includes our report dated November 22, 2000, covering the unaudited interim financial statement information contained therein. Pursuant to Regulation C of the Securities Act of 1933 (the Act), that report is not considered a part of the registration statements prepared or certified by our firm or a report prepared or certified by our firm within the meaning of Sections 7 and 11 of the Act. /s/ Arthur Andersen LLP EX-27 3 0003.txt FINANCIAL DATA SCHEDULE
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET AND STATEMENT OF INCOME AS OF OCTOBER 31, 2000 AND THE THREE MONTH PERIOD THEN ENDED AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 3-MOS JUL-31-2001 AUG-01-2000 OCT-31-2000 15,931 0 146,835 6,654 152,156 326,610 282,663 72,846 616,482 114,608 0 0 0 475 330,053 616,482 214,726 214,726 150,455 185,557 208 0 2,394 26,567 10,358 16,209 0 0 0 16,209 0.37 0.36
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