-----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, WU94j8+vNhrM/IkuJhZNrK57i5irae3zpt8Gm1VTob7Y9rG1cLQe/h04Qoq+PpmN DtxI75nI6rzWbI9AET8BJg== 0000927025-98-000060.txt : 19980409 0000927025-98-000060.hdr.sgml : 19980409 ACCESSION NUMBER: 0000927025-98-000060 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980228 FILED AS OF DATE: 19980408 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: RAWLINGS SPORTING GOODS CO INC CENTRAL INDEX KEY: 0000921915 STANDARD INDUSTRIAL CLASSIFICATION: [3949] IRS NUMBER: 431674348 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-24450 FILM NUMBER: 98589865 BUSINESS ADDRESS: STREET 1: 1859 INTERTECH DR CITY: FENTON STATE: MO ZIP: 63026 BUSINESS PHONE: 3143493500 MAIL ADDRESS: STREET 1: 1859 INTERTECH DR CITY: FENTON STATE: MO ZIP: 63026 10-Q 1 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 February 28, 1998 Commission file number 0-24450 RAWLINGS SPORTING GOODS COMPANY, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 43-1674348 (State or Other Jurisdiction (I.R.S. Employer of Incorporation or Organization) Identification No.) 1859 Intertech Drive, Fenton, Missouri 63026 (Address of Principal Executive Offices) (Zip Code) (314) 349-3500 (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 Number of shares outstanding of the issuer's Common Stock, par value $0.01 per share, as of March 9, 1998: 7,781,801 shares. Part I. FINANCIAL INFORMATION Item 1. Financial Statements Rawlings Sporting Goods Company, Inc. and Subsidiaries Consolidated Statements of Income (Amounts in thousands, except per share data) (Unaudited) Quarter Ended Six Months Ended February 28, February 28, 1998 1997 1998 1997 Net revenues $61,822 $52,859 $93,925 $81,118 Cost of goods sold 42,404 35,803 65,143 55,244 Gross profit 19,418 17,056 28,782 25,874 Selling, general and administrative expenses 10,590 9,258 20,094 17,400 Operating income 8,828 7,798 8,688 8,474 Interest expense, net 1,215 948 2,095 1,686 Other expense, net 30 68 71 98 Income before income taxes 7,583 6,782 6,522 6,690 Provision for income taxes 2,844 2,543 2,446 2,509 Net income $4,739 $ 4,239 $4,076 $ 4,181 Net income per common share: Basic $0.61 $0.55 $0.53 $0.54 Diluted $0.61 $0.55 $0.52 $0.54 Shares used in computing per share amounts: Basic 7,783 7,708 7,759 7,704 Assumed exercise of stock options 28 19 24 14 Diluted 7,811 7,727 7,783 7,718 The accompanying notes are an integral part of these consolidated statements. Rawlings Sporting Goods Company, Inc. and Subsidiaries Consolidated Balance Sheets (Amounts in thousands, except share data) (Unaudited) February 28, August 31, 1998 1997 Assets Current Assets: Cash and cash equivalents $ 594 $ 732 Accounts receivable, net of allowance of $1,981 and $1,627 respectively 67,529 32,968 Inventories 42,215 29,781 Prepaid expenses 839 935 Deferred income taxes 4,083 4,083 Total current assets 115,260 68,499 Property, plant and equipment, net 12,334 9,802 Other assets 943 760 Deferred income taxes 20,151 22,203 Goodwill, net 8,432 - Total assets 157,120 $ 101,264 Liabilities and Stockholders' Equity Current liabilities: Current portion of long-term debt $ 60 $ 59 Accounts payable 14,652 7,856 Accrued liabilities 11,187 9,901 Total current liabilities 25,899 17,816 Long-term debt, less current maturities 75,979 32,614 Other long-term liabilities 9,435 10,637 Total liabilities 111,313 61,067 Stockholders' equity: Preferred stock, none issued - - Common stock, 7,781,801 and 7,725,814 shares issued and outstanding, respectively 78 77 Additional paid-in capital 29,314 26,083 Stock subscription receivable (1,421) - Cumulative translation adjustment (277) - Retained earnings 18,113 14,037 Stockholders' equity 45,807 40,197 Total liabilities and stockholders' equity $ 157,120 $ 101,264 The accompanying notes are an integral part of these consolidated balance sheets. Rawlings Sporting Goods Company, Inc. and Subsidiaries Consolidated Statements of Cash Flow (Amounts in thousands) (Unaudited) Six Months Ended February 28, 1998 1997 Cash flows from operating activities: Net income $ 4,076 $ 4,181 Adjustments to reconcile net income to net cash used in operating activities: Depreciation and amortization. 799 606 Deferred income taxes 2,052 2,274 Changes in operating assets and liabilities: Accounts receivable, net (30,919) (27,339) Inventories (9,250) (4,102) Prepaid expenses 113 794 Other assets (231) (42) Accounts payable 5,624 622 Accrued liabilities and other (1,782) 795 Net cash used in operating activities (29,518) (22,211) Cash flows from investing activities: Capital expenditures (1,699) (1,334) Acquisition of business (14,098) - Net cash used in investing activities (15,797) (1,334) Cash flows from financing activities: Net borrowings of long-term debt 43,366 23,500 Issuance of warrants 1,271 - Issuance of common stock 540 138 Net cash provided by financing activities 45,177 23,638 Net (decrease) increase in cash and cash equivalents (138) 93 Cash and cash equivalents, beginning of period 732 789 Cash and cash equivalents, end of period $ 594 $ 882 The accompanying notes are an integral part of these consolidated statements. Rawlings Sporting Goods Company, Inc. and Subsidiaries NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 1: Summary of Significant Accounting Policies. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission pertaining to interim financial information and do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. These financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's Annual Report for the year ended August 31, 1997. In the opinion of management, all adjustments consisting only of normal recurring adjustments considered necessary for a fair presentation of financial position and results of operations have been included therein. The results for the six months ended February 28, 1998 are not necessarily indicative of the results that may be expected for a full fiscal year. Note 2: Inventories Inventories consisted of the following (in thousands): February 28, August 31, 1998 1997 Raw materials $ 8,094 $ 5,571 Work in process 2,511 2,027 Finished goods 31,610 22,183 $ 42,215 $29,781 Note 3: Warrants In November 1997, the Company issued warrants to purchase 925,804 shares of common stock at $12.00 to Bull Run Corporation for $3.07 per warrant. The warrants expire in November 2001 and are exercised only if the Company's common stock closes above $16.50 for twenty consecutive trading days. One half of the purchase price of the warrants was paid in cash with the other half payable with interest at 7% at the time of exercise or expiration of the warrants. The receivable for the unpaid portion of the warrants is classified as a stock subscription receivable in the accompanying balance sheet. These warrants are not considered common stock equivalents until the point in time that the warrants become exercisable. Note 4: Acquisition On September 12, 1997 the Company acquired the net assets of the Victoriaville hockey business. The acquisition was accounted for under the purchase method and accordingly, the results of operations were included in the Company's consolidated statement of income from the date of acquisition. The purchase price, paid in cash, has been allocated to the assets and liabilities on a preliminary basis and the excess of cost over the fair value of net assets acquired is being amortized over a forty year period on a straight-line basis. The preliminary purchase price allocation is as follows: Net Assets $ 5,568 Goodwill 8,530 Total Purchase Price $14,098 Note 5: Long-Term Debt In September 1997, the Company amended and restated the unsecured credit agreement with a bank group which, among other matters, increased the facility to $90,000 and extended the maturity date to September 2002. The amended and restated credit agreement, among other matters, requires the Company to meet certain financial covenants including a minimum fixed charge coverage, a required ratio of maximum total debt to total capitalization, a minimum net worth and restrictions on the Company's ability to pay cash dividends to 50% of the Company's net income for the preceding year. The available borrowings under the amended credit agreement decline $4,000, $5,000, $6,000 and $7,000 on September 1, 1998, 1999, 2000 and 2001, respectively. In October 1997, the Company entered into a two-year interest rate swap agreement with a commercial bank under which the Company receives a floating rate based on three month LIBOR through October 1999 on $30,000 and pays a fixed rate of 6.75% to 7.00%. The transaction effectively converts a portion of the Company's debt from a floating rate to a fixed rate. Note 6: Commitments and Contingencies The Company has been conducting ongoing environmental investigation and remediation activities at its Dolgeville, New York facility (the "Site") with respect to the release of wood pitch into surrounding soil and surface water. In November 1997, the Company entered into a Voluntary Agreement with the New York State Department of Environmental Conservation (the "NYSDEC") to conduct certain environmental remediation activities related to the presence of wood pitch in the soils at the Site. The wood pitch was generated as a result of the former operation of a retort facility by a third party unrelated to Rawlings before Rawlings' ownership of the Site. In December 1997, an environmental consulting firm retained by Rawlings initiated remediation activities under the oversight of the NYSDEC. In conducting the remediation activities under the Voluntary Agreement, it was discovered that the actual volume of wood pitch substantially exceeded the amount originally estimated by the environmental consulting firm. Much of the unanticipated, additional wood pitch has been remediated in accordance with the requirements of the Voluntary Agreement. The Company believes that a portion of the unanticipated, additional volume of wood pitch remaining at the Site may be outside the scope of the current Voluntary Agreement. However, in order to ensure that the Company receives all of the benefits of the Voluntary Agreement as expeditiously as possible, the Company may be required to address such additional wood pitch through an amendment to the Voluntary Agreement. Consequently, the Company's environmental consultants have been asked to thoroughly investigate the amount of the remaining unanticipated, additional wood pitch at the Site and to provide the Company with specific recommendations regarding how such additional wood pitch should be managed, along with cost estimates. These recommendations and estimates are expected to be delivered to the Company by late April 1998. The Company's accrual for remediation costs as of February 28, 1998, was approximately $668,000, and, in the Management's view, this amount is adequate to cover the remediation activities under the current scope of the Voluntary Agreement. Although the currently unknown costs to address the unanticipated, additional wood pitch could exceed the Company's accrued remediation costs, Management believes, based on preliminary discussions with the environmental consultants, that any additional accrual that may be required would not have a material adverse effect on the Company's financial condition or cash flows. However, any additional accrued remediation costs that may be required could have a material adverse effect on the Company's quarterly and/or annual results of operations in the period such accrual is recognized. Note 7: Statement of Financial Accounting Standard No. 128 Footnote Disclosure In February 1997, the Financial Accounting Standards Board issued Statement of Financial Accounting Standard No. 128, Earnings Per Share ("SFAS 128"), effective for financial statements for both interim and annual periods ending after December 15, 1997. The Company has adopted the provisions of SFAS 128 during the quarter ended February 28, 1998, and all prior period earnings per share data has been presented on this basis. Item 2. Management's Discussion and Analysis of Results of Operations and Financial Condition RESULTS OF OPERATIONS Quarter Ended February 28, 1998 Compared with Quarter Ended February 28, 1997 Net revenues in the quarter ended February 28, 1998 were $61,822,000 or 17.0 percent higher than net revenues of $52,859,000 for the same quarter last year. Increased net revenues in all major product categories excluding licensing resulted in the overall increase. The largest increases in net revenues occurred in baseball-related equipment, basketball, football and volleyball equipment, apparel and hockey equipment. Net revenues increased 14.6 percent excluding the impact of the acquisition of the Vic hockey business. Demand for the Company's new products, including the radar speed- sensing baseball and the power forged aluminum bats, is strong. The net revenues generated from these new products along with the net revenues related to the Vic hockey business acquired last September have the Company on track to generate $170.0 to $175.0 million in net revenues in the fiscal year ending August 31, 1998, a 15 to 19 percent increase over the prior fiscal year. Gross margin in the quarter ended February 28, 1998 was 31.4 percent, .9 margin points lower than the comparable quarter last year. Gross margin declined from the comparable prior year quarter primarily as a result of lower domestic and international licensing revenues and a reduction in the gross margin of baseball gloves. Domestic licensing revenues declined primarily related to footwear and socks while international licensing revenues declined primarily as a result of unfavorable currency exchange rates between the dollar and the Japanese yen. The gross margin on baseball gloves declined primarily as a result of a shift in mix to lower price point units which typically have lower margins. Selling, general and administrative (SG&A) expenses in the quarter ended February 28, 1998 were $10,590,000 (17.1% of net revenues) compared to SG&A expenses of $9,258,000 (17.5% of net revenues) in the comparable prior year quarter. The SG&A expenses in the quarter ended February 28, 1998 include expenses related to the Vic hockey business acquired in September 1997. Interest expense for the quarter ended February 28, 1998 was $1,215,000 or 28.2 percent higher than interest expense of $948,000 in the comparable quarter last year. Higher average borrowings, primarily as a result of the acquisition of the Vic hockey business and higher working capital levels were primarily responsible for the increase. Six Months Ended February 28, 1998 Compared with the Six Months Ended February 28, 1997 Net revenues for the six months ended February 28, 1998 were $93,925,000, or 15.8 percent higher than net revenues of $81,118,000 in the comparable six month period last year. Higher net revenues in all major product categories other than licensing were responsible for the increase. The largest increases in net revenues occurred in baseball-related equipment, basketball, football and volleyball equipment, hockey equipment and apparel. Net revenues of baseball-related equipment increased as a result of increased glove net revenues and net revenues from new products including the radar speed-sensing baseball and the power forged aluminum bats. Net revenues increased 11.7 percent excluding the impact of the acquisition of the Vic hockey business. Gross margin for the six months ended February 28, 1998 was 30.6 percent, 1.3 margin points lower than the comparable period last year. Lower licensing revenues, lower net revenues from higher margin memorabilia products and a lower gross margin on baseball gloves were primarily responsible for the decrease. SG&A expenses for the six months ended February 28, 1998 were $20,094,000 compared to SG&A expenses of $17,400,000 in the comparable prior year period. SG&A expenses in the six months ended February 28, 1998, include approximately $500,000 of severance and related benefits, legal costs and search firm fees associated with changes in the Chief Executive Officer's position. SG&A expenses for the six months ended February 28, 1998 also include expenses related to the Vic hockey business since its acquisition in September 1997. SG&A expenses excluding the one time charge associated with changes in the Chief Executive Officer's position were 20.9 percent of net revenues in the six months ended February 28, 1998 compared with 21.5 percent in the comparable prior year period. Interest expense for the six months ended February 28, 1998 was $2,095,000 or 24.3 percent higher than interest expense of $1,686,000 in the comparable prior year six month period. Higher average borrowings as a result of the acquisition of the Vic hockey business and higher working capital levels, were primarily responsible for the increase. Seasonality Net revenues of baseball equipment and team uniforms are highly seasonal. Customers generally place orders with the Company for baseball-related products beginning in August for shipment beginning in November (pre-season orders). These pre-season orders from customers historically represented approximately 65 percent to 75 percent of the customers' anticipated needs for the entire baseball season. The amount of these pre-season orders generally determine the Company's net revenues and profitability between November 1 and March 31. The Company then receives additional orders (fill-in orders) which depend upon customers' actual sales of products during the baseball season (sell- through). Fill-in orders are typically received by the Company between February and May. These orders generally represent approximately 25 percent to 35 percent of the Company's sales of baseball-related products during a particular season. Pre-season orders for certain baseball-related products from certain customers are not required to be paid until early spring. These extended terms increase the risk of collectibility of accounts receivable. An increasing number of customers are on automatic replenishment systems therefore more orders are received on a ship-at-once basis. This change has resulted in shipments to the customer closer to the time the products are actually sold. This trend has and may continue to have the effect of shifting the seasonality and quarterly results of the Company with higher inventory and debt levels required to meet orders for immediate delivery. The sell-through of baseball-related products also affects the amount of inventory held by customers at the end of the season which is carried over by the customer for sale in the next baseball season. Customers typically adjust their pre- season orders for the next baseball season to account for the level of inventory carried over from the preceding baseball season. Football equipment and team uniforms are both shipped by the Company and sold by retailers primarily in the period between March 1 and September 30. Hockey equipment and uniforms are shipped by the Company primarily in the period from May 1 to October 31. Basketballs and team uniforms generally are shipped and sold throughout the year. Because the Company's sales of baseball-related products exceed those of its other products, Rawlings' business is seasonal, with its highest net revenues and profitability recognized between November 1 and April 30. Year 2000 Issue Many existing computer programs, including those used by the Company in its operations, use only two digits to identify a year in the date field. These programs were designed and developed without considering the impact of the upcoming change in the century. If not corrected, many computer applications could fail or create erroneous results by or at the year 2000. This potential problem is often referred to as the "Year 2000 issue". The Company has undertaken a thorough analysis of the costs of addressing the Year 2000 issue and of the consequences of an incomplete or untimely resolution of the Year 2000 issue and determined that such costs are not likely to have a material effect on the Company's future financial results. In addition, while the Company has not completed its analysis of the measures taken by its key suppliers to address the Year 2000 issue, the Company is not aware of any key supplier whose lack of preparedness to address the Year 2000 issue could have a material effect on the Company's future financial results. Liquidity and Capital Resources Working capital increased $38,678,000 for the six months ended February 28, 1998 primarily the result of the seasonal increase in accounts receivable and inventories and the working capital acquired in connection with the Vic hockey acquisition. Cash flows used in operating activities for the six months ended February 28, 1998 were $29,518,000, or 32.9 percent higher than the $22,211,000 used in the comparable prior year period. The increase is primarily the result of a larger build in inventories and accounts receivable partially offset by an increase in accounts payable. Capital expenditures were $1,699,000 for the six months ended February 28, 1998 compared to $1,334,000 in the comparable prior year period. The Company expects capital expenditures for fiscal 1998 to be approximately $3,500,000. Investing activities included $14,098,000 use of cash related to the acquisition of the Vic hockey business. The Company had net borrowings of $43,366,000 in the six months ended February 28, 1998. This resulted from $14,098,000 of borrowings related to the acquisition of the Vic hockey business and borrowings for seasonal working capital offset by proceeds from the issuance of warrants and common stock of $1,811,000. Total debt as of February 28, 1998 was $76,039,000, $13,839,000 or 22.2 percent higher than total debt as of February 28, 1997. The increase is primarily the result of the Vic hockey acquisition and higher working capital levels, partially offset by operating cash flows. Cautionary Factors that May Affect Future Results or the Financial Condition of the Business. Except for the historical information contained herein, the matters outlined in the management's discussion and analysis are forward looking statements that involve risks and uncertainties, including quarterly fluctuations in results, ongoing customer changes in buying patterns, retail sell rates for the Company's products, demand and performance of the Company's new products, which may result in more or less orders than those anticipated and the impact of competitive products and pricing. In addition, other risks and uncertainties are detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended August 31, 1997. Item 3. Quantitative and Qualitative Disclosure about Market Risk Not Applicable. Part II. OTHER INFORMATION Item 1. Legal Proceedings The Company has been conducting ongoing environmental investigation and remediation activities at its Dolgeville, New York facility (the "Site") with respect to the release of wood pitch into surrounding soil and surface water. In November 1997, the Company entered into a Voluntary Agreement with the New York State Department of Environmental Conservation (the "NYSDEC") to conduct certain environmental remediation activities related to the presence of wood pitch in the soils at the Site. The wood pitch was generated as a result of the former operation of a retort facility by a third party unrelated to Rawlings before Rawlings' ownership of the Site. In December 1997, an environmental consulting firm retained by Rawlings initiated remediation activities under the oversight of the NYSDEC. In conducting the remediation activities under the Voluntary Agreement, it was discovered that the actual volume of wood pitch substantially exceeded the amount originally estimated by the environmental consulting firm. Much of the unanticipated, additional wood pitch has been remediated in accordance with the requirements of the Voluntary Agreement. The Company believes that a portion of the unanticipated, additional volume of wood pitch remaining at the Site may be outside the scope of the current Voluntary Agreement. The Company's environmental consultants have been asked to thoroughly investigate the amount of the remaining unanticipated, additional wood pitch at the Site and to provide the Company with specific recommendations regarding how such additional wood pitch should be managed, along with cost estimates. These recommendations and estimates are expected to be delivered to the Company by late April 1998. The Company's accrual for remediation costs as of February 28, 1998, was approximately $668,000, and, the Company believes this accrual is adequate to cover the remediation activities under the current scope of the Voluntary Agreement. Although the currently unknown costs to address the unanticipated, additional wood pitch could exceed the Company's accrued remediation costs, the Company believes, based on preliminary discussions with the environmental consultants, that any additional accrual that may be required would not have a material adverse effect on the Company's financial condition or cash flows. However, any additional accrued remediation costs that may be required could have a material adverse effect on the Company's quarterly and/or annual results of operations in the period such accrual is recognized. Item 2. Changes in Securities and Use of Proceeds None. Item 3. Defaults on Senior Securities None. Item 4. Submission of Matters to a Vote of Security Holders The annual Stockholder's Meeting was held on January 15, 1998. At the meeting the following nominees were elected pursuant to the following votes: Number of Number of Nominee Votes for Votes Withheld Andrew N. Baur 5,967,400 62,897 Robert S. Prather, Jr. 5,955,902 74,395 The following directors' term of office continued after the meeting: Linda L. Griggs Michael McDonnell Michael J. Roarty William C. Robinson The approval of the amendment of the Company's 1994 Long- Term Incentive Plan increasing the total number of shares of common stock available for issuance upon the exercise of options granted under such plan by 500,000 shares to an aggregate of 1,125,000 shares of common stock was approved pursuant to the following vote: For Against Abstain 1,577,751 565,536 124,173 The approval of the amendment of the Company's Certificate of Incorporation to increase the maximum number of individuals who can be members of the Board of Directors from seven to ten was approved pursuant to the following vote: For Against Abstain 5,757,901 152,197 120,199 The approval of the Board of Directors' selection of Arthur Andersen LLP as independent public accountants was approved pursuant to the following vote: For Against Abstain 5,978,231 29,099 22,967 Item 5. Other Information None. Item 6. Exhibits and Reports on Form 8-K (a) Exhibits None. (b) Reports on Form 8-K None. 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. RAWLINGS SPORTING GOODS COMPANY, INC. Date: April 8, 1998 /s/ HOWARD B. KEENE Howard B. Keene Chief Executive Officer and President Date: April 8, 1998 /s/ PAUL E. MARTIN Paul E. Martin Chief Financial Officer (Principal Accounting Officer) EX-27 2
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S FORM 10-Q FOR THE QUARTERLY PERIOD ENDED FEBRUARY 28, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 6-MOS AUG-31-1998 FEB-28-1998 594 0 69,510 1,981 42,215 115,260 26,010 13,676 157,120 25,899 85,414 0 0 78 45,729 157,120 93,925 93,925 65,143 65,143 20,094 0 2,095 6,522 2,446 4,076 0 0 0 4,076 .53 .52
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