-----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, JgSliLsRA/NnyqxXDuY6yXa8FA1m6OixVXcV6aYAsncWmXi2uL3zkC1b3k6L8DC0 0jv+tui6AurfRoED+lGvOQ== 0001068800-00-000185.txt : 20000515 0001068800-00-000185.hdr.sgml : 20000515 ACCESSION NUMBER: 0001068800-00-000185 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000331 FILED AS OF DATE: 20000512 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GARDNER DENVER INC CENTRAL INDEX KEY: 0000916459 STANDARD INDUSTRIAL CLASSIFICATION: GENERAL INDUSTRIAL MACHINERY & EQUIPMENT [3560] IRS NUMBER: 760419383 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-13215 FILM NUMBER: 629697 BUSINESS ADDRESS: STREET 1: 1800 GARDNER EXPRESSWAY STREET 2: P O BOX 528 CITY: QUINCY STATE: IL ZIP: 62301 BUSINESS PHONE: 2172225400 MAIL ADDRESS: STREET 1: 1800 GARDNER EXPRESSWAY STREET 2: P O BOX 528 CITY: QUINCY STATE: IL ZIP: 62301 FORMER COMPANY: FORMER CONFORMED NAME: GARDNER DENVER MACHINERY INC DATE OF NAME CHANGE: 19931221 10-Q 1 GARDNER DENVER, INC. FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2000 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-13215 GARDNER DENVER, INC. (Exact name of Registrant as Specified in its Charter) DELAWARE 76-0419383 (State or Other Jurisdiction of (I.R.S. Employer Incorporation or Organization) Identification No.) 1800 GARDNER EXPRESSWAY QUINCY, ILLINOIS 62301 (Address of Principal Executive Offices and Zip Code) (217) 222-5400 (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 requirement for the past 90 days. Yes X No --- --- Number of shares outstanding of the issuer's Common Stock, par value $.01 per share, as of May 1, 2000: 15,309,741 shares. ============================================================================ PART I FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS. GARDNER DENVER, INC. CONSOLIDATED STATEMENT OF OPERATIONS (dollars in thousands, except per share amounts) (Unaudited)
THREE MONTHS ENDED MARCH 31, ---------------------- 2000 1999 ------- ------- Revenues $88,303 $70,224 Costs and Expenses: Cost of sales (excluding depreciation and amortization) 61,278 48,360 Depreciation and amortization 3,891 3,519 Selling and administrative expenses 15,463 11,798 Interest expense 1,817 1,207 Other (income)/expense, net (528) 123 ------- ------- Income before income taxes 6,382 5,217 Provision for income taxes 2,431 2,014 ------- ------- Net income $ 3,951 $ 3,203 ======= ======= Basic earnings per share $ 0.26 $ 0.21 ======= ======= Diluted earnings per share $ 0.26 $ 0.21 ======= ======= The accompanying notes are an integral part of this statement.
-2- GARDNER DENVER, INC. CONSOLIDATED BALANCE SHEET (dollars in thousands, except per share amounts)
(UNAUDITED) MARCH 31, DECEMBER 31, 2000 1999 ----------- ------------ ASSETS Current assets: Cash and equivalents $ 20,598 $ 27,317 Receivables, net 84,355 72,272 Inventories, net 62,732 60,356 Deferred income taxes 4,406 3,664 Other 3,317 2,770 -------- -------- Total current assets 175,408 166,379 -------- -------- Property, plant and equipment, net 63,184 62,892 Intangibles, net 141,287 138,584 Deferred income taxes 6,007 6,151 Other assets 5,265 5,413 -------- -------- Total assets $391,151 $379,419 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term borrowings and current maturities of long-term debt $ 5,292 $ 5,289 Accounts payable and accrued liabilities 57,150 54,320 -------- -------- Total current liabilities 62,442 59,609 -------- -------- Long-term debt, less current maturities 119,787 114,200 Postretirement benefits other than pensions 42,381 43,377 Other long-term liabilities 9,755 9,624 -------- -------- Total liabilities 234,365 226,810 -------- -------- Stockholders' equity: Common stock, $.01 par value; 50,000,000 shares authorized; 15,296,922 shares issued and outstanding at March 31, 2000 169 167 Capital in excess of par value 158,547 157,367 Treasury stock at cost, 1,614,683 shares at March 31, 2000 (23,727) (23,541) Retained earnings 25,305 21,354 Accumulated other comprehensive loss (3,508) (2,738) -------- -------- Total stockholders' equity 156,786 152,609 -------- -------- Total liabilities and stockholders' equity $391,151 $379,419 ======== ======== The accompanying notes are an integral part of this statement.
-3- GARDNER DENVER, INC. CONSOLIDATED STATEMENT OF CASH FLOWS (dollars in thousands) (Unaudited)
THREE MONTHS ENDED MARCH 31, ----------------------- 2000 1999 -------- -------- Cash flows from operating activities: Net income $ 3,951 $ 3,203 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 3,891 3,519 Net gain on sale of assets (657) --- Stock issued for employee benefit plans 426 454 Deferred income taxes (431) 658 Changes in assets and liabilities: Receivables (11,362) 5,940 Inventories (1,251) (3,744) Accounts payable and accrued liabilities 1,501 (3,515) Other assets and liabilities, net (1,306) (249) -------- -------- Net cash (used for) provided by Operating activities (5,238) 6,266 -------- -------- Cash flows from investing activities: Business acquisitions, net of cash acquired (8,100) --- Foreign currency hedging transactions 1,654 682 Disposals of property, plant and equipment 701 --- Capital expenditures (1,661) (3,486) -------- -------- Net cash used for investing activities (7,406) (2,804) -------- -------- Cash flows from financing activities: Principal payments on long-term debt (6,107) (12,080) Proceeds from long-term borrowings 12,000 7,940 Proceeds from stock options 756 32 Purchase of treasury stock (186) (7,910) -------- -------- Net cash provided by (used for) financing activities 6,463 (12,018) -------- -------- Effect of exchange rate changes on cash and equivalents (538) (698) -------- -------- Decrease in cash and equivalents (6,719) (9,254) -------- -------- Cash and equivalents, beginning of period 27,317 24,474 -------- -------- Cash and equivalents, end of period $ 20,598 $ 15,220 ======== ======== The accompanying notes are an integral part of this statement.
-4- NOTES TO CONDENSED FINANCIAL STATEMENTS (dollars in thousands, except per share data) NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. Basis of Presentation. The accompanying condensed financial statements include the accounts of Gardner Denver, Inc. ("Gardner Denver" or the "Company") and its subsidiaries. All significant intercompany transactions and accounts have been eliminated. Investments in entities in which the Company has twenty to fifty percent ownership are accounted for by the equity method. The financial information presented as of any date other than December 31 has been prepared from the books and records without audit. The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by generally accepted accounting principles for complete statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of such financial statements, have been included. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto incorporated by reference in Gardner Denver's Annual Report on Form 10-K for the year ended December 31, 1999. The results of operations for the three months ended March 31, 2000 are not necessarily indicative of the results to be expected for the full year. NOTE 2. RECENT ACQUISITIONS. Effective January 1, 2000, the Company acquired substantially all of the assets and assumed certain agreed upon liabilities of Invincible Airflow Systems, Co. ("Invincible"). Invincible, located in Baltic, Ohio, manufactures single and fabricated multistage centrifugal blowers. During 1999, the Company completed three acquisitions. On October 25, 1999, the Company purchased 100% of the issued and outstanding stock of Air Relief, Inc. ("Air Relief"), located in Mayfield, Kentucky. On April 5, 1999, the Company purchased 100% of the issued and outstanding stock of Butterworth Jetting Systems, Inc. ("Butterworth"), located in Houston, Texas. On April 1, 1999, the Company purchased 100% of the issued and outstanding stock of Allen-Stuart Equipment Co., Inc. ("Allen-Stuart"), also located in Houston, Texas. All acquisitions have been accounted for by the purchase method, and accordingly, their results are included in the Company's consolidated financial statements from the respective dates of acquisition. Under the purchase method, the purchase price is allocated based on the fair value of assets received and liabilities assumed as of the acquisition date. The purchase price allocations for Invincible, Allen-Stuart, Butterworth and Air Relief, used in preparation of the March 31, 2000 consolidated balance sheet, are preliminary and subject to adjustment when finalized. -5- As a result of the stability of the product technology, markets and customers associated with these acquisitions, the cost in excess of net assets acquired for each acquisition is being amortized over 40 years using the straight-line method. NOTE 3. EARNINGS PER SHARE. The following table details the calculation of basic and diluted earnings per share:
THREE MONTHS ENDED MARCH 31, ---------------------- 2000 1999 ------- ------- Basic EPS: Net income $ 3,951 $ 3,203 ======= ======= Shares Weighted average number of common shares outstanding 15,213 15,245 ======= ======= Basic earnings per common share $ 0.26 $ 0.21 ======= ======= Diluted EPS: Net income $ 3,951 $ 3,203 ======= ======= Shares Weighted average number of common shares outstanding 15,213 15,245 Assuming conversion of dilutive stock options issued and outstanding 251 332 ------- ------- Weighted average number of common shares outstanding, as adjusted 15,464 15,577 ======= ======= Diluted earnings per common share $ 0.26 $ 0.21 ======= =======
-6- NOTE 4. INVENTORIES.
MARCH 31, DECEMBER 31, 2000 1999 --------- ------------ Raw materials, including parts and subassemblies $39,057 $37,597 Work-in-process 11,319 9,395 Finished goods 25,301 25,543 Perishable tooling and supplies 2,506 2,506 ------- ------- 78,183 75,041 Excess of current standard costs over LIFO costs (6,770) (6,455) Allowance for obsolete and slow- moving inventory (8,681) (8,230) ------- ------- Inventories, net $62,732 $60,356 ======= =======
NOTE 5. COMPREHENSIVE INCOME. For the three months ended March 31, 2000 and 1999, comprehensive income was $3.2 million and $3.3 million, respectively. Items impacting the Company's comprehensive income, but not included in net income, consist of foreign currency translation adjustments. NOTE 6. CASH FLOW INFORMATION. In the first three months of 2000 and 1999, the Company paid $0.3 million and $0.2 million, respectively, to the various taxing authorities for income taxes. Interest paid for the first three months of 2000 and 1999, was $1.4 million and $1.8 million, respectively. NOTE 7. SEGMENT INFORMATION.
THREE MONTHS ENDED MARCH 31, ---------------------- 2000 1999 ------- ------- Revenues: Compressed Air Products $77,703 $63,590 Petroleum Products 10,600 6,634 ------- ------- Total $88,303 $70,224 ======= ======= Operating Earnings: Compressed Air Products $ 7,428 $ 6,579 Petroleum Products 846 398 ------- ------- Total 8,274 6,977 Interest Expense 1,817 1,207 General Corporate 75 553 ------- ------- Income before Income Taxes $ 6,382 $ 5,217 ======= =======
-7- ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. RESULTS OF OPERATIONS. Revenues Revenues increased $18.1 million (26%) to $88.3 million for the three months ended March 31, 2000, compared to the same period of 1999. Excluding incremental revenue from acquisitions, revenues increased $5.8 million (8%) over the same period of 1999. See Note 2 to the Financial Statements for further information on the Company's recent acquisitions. For the three months ended March 31, 2000, revenues for the Compressed Air Products segment increased $14.1 million (22%) to $77.7 million compared to the same period of 1999. Excluding incremental revenue from acquisitions, compressed air product revenues increased $1.8 million (3%). Petroleum Products segment revenues increased $4.0 million (60%) to $10.6 million for the three months ended March 31, 2000, compared to the same period of 1999. This increase resulted from heightened demand for petroleum products due to higher oil prices which began in the latter half of 1999 and were sustained through the first quarter of 2000. Costs and Expenses Gross margin (defined as sales less cost of sales excluding depreciation and amortization) for the three months ended March 31, 2000 increased $5.1 million (24%) to $27.0 million from $21.9 million in the same period of 1999. Gross margin as a percentage of revenues (gross margin percentage) decreased to 30.6% in the three-month period of 2000 from 31.1% in the same period of 1999. This reduction in the gross margin percentage was principally attributable to an unfavorable sales mix partially offset by improved manufacturing efficiencies. In addition, acquisitions negatively affected the gross margin percentage as these entities currently generate lower gross margins than the Company's previously existing operations. Depreciation and amortization increased 11% to $3.9 million in the first three months of 2000, compared with $3.5 million for the same period of 1999. The increase in depreciation and amortization expense was due to goodwill amortization associated with acquisitions and ongoing capital expenditures. For the three-month periods, depreciation and amortization expense as a percentage of revenues decreased to 4.4% in 2000 from 5.0% in 1999. This percentage decrease is due to the effect of higher revenues. Selling and administrative expenses increased in the first three months of 2000 by 31% to $15.5 million from $11.8 million in the same period of 1999. Excluding incremental expenses from acquisitions, selling and administrative expenses increased $1.8 million (15%), which was primarily the result of higher commissions and payroll related expenses. Due to these factors, selling and administrative expenses as a percentage of revenues also increased to 17.5% in the first quarter of 2000 compared to 16.8% in 1999. The change in other (income)/expense, net of approximately $0.7 million is due to a gain recorded from the sale of the Company's idle facility in Syracuse, New York. -8- The Compressed Air Products segment generated operating margins (defined as revenues, less cost of sales, depreciation and amortization, and selling and administrative expenses excluding unallocated corporate administrative expenses) of 9.6% for the three-month period ended March 31, 2000, a decrease from 10.3% for the three-month period of 1999. This decline is due to an unfavorable sales mix, increased commission and payroll related expenses, and the negative impact of newly acquired operations which currently generate lower operating margins (after amortization of goodwill) than the Company's previously existing operations. Reduced discretionary spending, other cost reduction efforts and improved manufacturing efficiencies partially offset these negative factors. The Petroleum Products segment generated operating margins of 8.0% for the three-month period ended March 31, 2000, compared to 6.0% for the same period in 1999. This increase is primarily attributable to the positive impact of increased leverage of the segment's fixed and semi-fixed costs over a higher revenue base and improved manufacturing efficiencies. Interest expense increased $0.6 million (50%) to $1.8 million, as a result of higher average borrowings and average interest rates. The average interest rate for the three-month period of 2000 was 5.9%, compared to 5.8% for the same period of 1999. Income before income taxes increased $1.2 million (22%) to $6.4 million for the three months ended March 31, 2000, compared to the same period of 1999. This increase is primarily the result of increased leverage of fixed costs over a higher revenue base, improved manufacturing efficiencies and the gain recorded on the sale of the Syracuse property. The provision for income taxes increased by $0.4 million to $2.4 million for the first three months of 2000 compared to $2.0 million in 1999, as a result of the higher income before taxes partially offset by a lower overall effective tax rate. The Company's effective tax rate for the three months ended March 31, 2000 was 38.1%, compared to 38.6% in the prior year period. Net income for the three months ended March 31, 2000 increased $0.7 million (23%) to $4.0 million ($0.26 diluted earnings per share), compared to $3.2 million ($0.21 diluted earnings per share) for the same period of 1999. This increase in net income is attributable to the same factors that resulted in increased income before taxes noted above. Outlook Demand for petroleum products is related to market expectations for oil and natural gas prices. Orders for petroleum products were $13.6 million in the first quarter of 2000, an increase of $9.8 million compared to the same period of 1999. Compared to March 31, 1999, backlog for this business segment increased $5.8 million to $9.6 million on March 31, 2000. These increases are primarily the result of market recovery from the depressed level of demand during the first quarter of 1999 due to the substantial decline in the prices of oil and natural gas in 1998 and early 1999. Future increases in demand for these products are dependent upon oil and natural gas prices remaining near current levels, which the Company cannot predict. However, the price of oil increased significantly in late 1999, and during the first quarter of 2000, and the Company has experienced appreciable improvement in orders for well servicing pumps. The Company believes that if oil and natural gas prices remain near current levels, and day rates and the rig count continue to increase, demand for well -9- servicing pumps may continue to improve throughout 2000 and increased drilling pump revenues may occur in the second half of the year. In general, demand for compressed air products follows the rate of manufacturing capacity utilization and the rate of change of industrial production because air is often used as a fourth utility in the manufacturing process. Over longer time periods, demand also follows the economic growth patterns indicated by the rates of change in the Gross Domestic Product. In the first quarter of 2000, orders for compressed air products were $79.7 million, including $12.1 million from acquisitions, compared to $65.3 million in the same period of 1999. Order backlog for the Compressed Air Products segment was $50.1 million as of March 31, 2000, compared to $45.8 million as of March 31, 1999. The increase in both orders and backlog for this segment is primarily due to newly acquired companies. The Company experienced softer orders for compressed air products, beginning in the second half of 1998, due to slowing growth in industrial production in the United States. Although there was some improvement in industrial production, capacity utilization, and the Gross Domestic Product in late 1999 and early 2000, significant changes in orders for compressor products are not anticipated until the second half of 2000, since demand for these products tends to lag the cycle of industrial demand in general. LIQUIDITY AND CAPITAL RESOURCES Operating Working Capital During the three months ended March 31, 2000, operating working capital (defined as receivables plus inventories, less accounts payable and accrued liabilities) increased $11.6 million with acquisitions representing $1.5 million of this increase. Excluding acquisitions, the remaining increase in operating working capital was related to an increase in receivables due to the timing of shipments and collections within the quarter. Cash Flows During the three months of 2000, the Company had a use of cash from operations totaling $5.2 million, compared to generating $6.3 million in the prior year period. This use of cash was primarily the result of the increase in receivables. Net borrowings of long-term debt totaled $5.9 million during the three months ended March 31, 2000. These borrowings together with existing cash reserves were used to fund the Invincible acquisition. The cash flows used for operating and investing activities and provided by financing activities resulted in a net cash decrease of $6.7 million for the three months ended March 31, 2000. Capital Expenditures and Commitments Capital projects to increase operating efficiency and flexibility, expand production capacity and product quality resulted in expenditures of $1.7 million in the first three months of 2000. This was $1.8 million less than the level of capital expenditures in the comparable period in 1999 due to timing of capital projects. Commitments for capital expenditures at March 31, 2000 totaled $3.1 million. Management expects additional capital authorizations to be committed during the remainder of the year and that capital expenditures for 2000 will approximate $12-15 million, primarily due to expenditures made at newly acquired facilities for machining capacity and cost -10- reductions at certain operations. Capital expenditures related to environmental projects have not been significant in the past and are not expected to be significant in the foreseeable future. In October 1998, Gardner Denver's Board of Directors authorized the repurchase of up to 1,600,000 shares of the Company's common stock to be used for general corporate purposes. Approximately 200,000 shares remain available for repurchase under this program. The Company has also established a Stock Repurchase Program for its executive officers to provide a means for them to sell Gardner Denver common stock and obtain sufficient funds to meet alternative minimum tax obligations which arise from the exercise of incentive stock options. As of March 31, 2000, a total of 1,535,542 shares have been repurchased at a cost of $22.1 million under both repurchase programs. During the first quarter of 2000, the Company accepted shares of its common stock, valued at $0.2 million, which were tendered for the exercise of stock options. Liquidity The Company has a revolving line of credit agreement with an aggregate $125 million borrowing capacity (the "Credit Line"). On March 31, 2000, the Credit Line had an outstanding balance of approximately $82.0 million, leaving $43.0 million available for future use. The Credit Line requires no principal payments during the term of the agreement, which expires in January 2003. The Company's borrowing arrangements are generally unsecured and permit certain investments and dividend payments. There are no material restrictions on the Company as a result of these arrangements, other than customary covenants regarding certain earnings, liquidity, and capital ratios. Management currently expects that the Company's future cash flows will be sufficient to fund the scheduled debt service under existing credit facilities and provide required resources for working capital and capital investments. NEW ACCOUNTING STANDARDS In June 1998, the FASB issued SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities" ("SFAS 133"). SFAS 133 is effective for fiscal years beginning after June 15, 2000 and thus, the Company will adopt SFAS 133 on January 1, 2001. The Company has reviewed its current derivative instruments and hedging activities and has determined that the adoption of SFAS 133 would not have a material impact on its consolidated financial statements as of March 31, 2000. CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS This Management's Discussion and Analysis contains forward-looking statements within the meaning of the federal securities laws. As a general matter, forward-looking statements are those focused upon anticipated events or trends and expectations and beliefs relating to matters that are not historical in nature. Such forward-looking statements are subject to uncertainties and factors relating to the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the control of the Company. Such uncertainties and factors could cause actual results of the Company to differ materially from those matters expressed in or implied -11- by such forward-looking statements. Such uncertainties and factors could include among others: the speed with which the Company is able to integrate its recent acquisitions and realize the related financial benefits; the level of oil and natural gas prices, drilling and production, which affect demand for the Company's petroleum products; pricing of Gardner Denver's products; changes in the general level of industrial production and industrial capacity utilization rates in the United States and the rate of economic growth outside the United States, which affect demand for the Company's compressed air products; the degree to which the Company is able to penetrate niche markets; and the successful implementation of cost reduction efforts. ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK There were no material changes in the Company's exposure to market risk between December 31, 1999 and March 31, 2000. -12- PART II - OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) List of Exhibits: 27.0 Financial Data Schedule. (b) Reports on Form 8-K There were no reports on Form 8-K filed during the quarter ended March 31, 2000. -13- 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. GARDNER DENVER, INC. Date: May 12, 2000 By: /s/Ross J. Centanni -------------------------------------- Ross J. Centanni Chairman, President & CEO Date: May 12, 2000 By: /s/Philip R. Roth -------------------------------------- Philip R. Roth Vice President, Finance & CFO Date: May 12, 2000 By: /s/Daniel C. Rizzo, Jr. -------------------------------------- Daniel C. Rizzo, Jr. Vice President and Corporate Controller (Chief Accounting Officer) -14- GARDNER DENVER, INC. EXHIBIT INDEX EXHIBIT NO. DESCRIPTION 27.0 Financial Data Schedule. -15- EX-27.0 2 FINANCIAL DATA SCHEDULE
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED FINANCIAL STATEMENTS OF GARDNER DENVER, INC. FOR THE YEAR-TO-DATE PERIOD ENDED MARCH 31, 2000 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 3-MOS DEC-31-2000 JAN-01-2000 MAR-31-2000 20,598 0 89,341 (4,986) 62,732 175,408 178,085 (114,901) 391,151 62,442 125,079 169 0 0 156,617 391,151 87,792 88,303 61,278 61,278 3,363 228 1,817 6,382 2,431 3,951 0 0 0 3,951 0.26 0.26
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