NEW BRUNSWICK SCIENTIFIC CO., INC., AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS(1)
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended
March 31,
2002 2001
Net sales $13,263 $14,700
Operating costs and expenses:
Cost of sales 7,583 8,882
Selling, general and administrative expenses 4,110 4,100
Research, development and engineering expenses 599 713
DGI research expenses -- 718
Total operating costs and expenses 12,292 14,413
Income from operations 971 287
Other income (expense):
Interest income 9 18
Interest expense (115) (152)
Other, net 6 (28)
(100) (162)
Income before income tax expense 871 125
Income tax expense 305 11
Net income $566 $114
Basic income per share $.08 $.02
Diluted income per share $.08 $.02
Basic weighted average number of shares
outstanding 6,813 6,728
Diluted weighted average number of shares
outstanding 6,980 6,728
(1) The Company adopted the provisions of SFAS 142 as of January 1, 2002
and has determined that no impairment exists to its goodwill at that
date. Goodwill is no longer being amortized, however, the 2001 period
includes $44 of goodwill amortization.
Selected Balance Sheet Items
(Dollars in thousands)
March 31, December 31,
2002 2001
(Unaudited)
Cash and cash equivalents $3,095 $3,794
Inventories 16,728 15,168
Property, plant and equipment, net 4,621 4,868
Total assets 44,136 44,543
Accounts payable and accrued expenses 7,827 9,136
Shareholders' equity 27,306 26,296
Working capital 25,627 24,389
Current ratio 4.2 to 1 3.6 to 1 |
