Q2 results (Part 2 of 2)........................
ALIGN-RITE INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(thousands, except per share data)
Three Months Ended
September 30,
1997 (Unaudited) 1996
NET SALES $11,424 100.0% $9,666 100.0%
COST OF SALES 7,234 63.3% 6,026 62.3%
GROSS PROFIT 4,190 36.7% 3,640 37.7%
SELLING AND GENERAL
ADMINISTRATIVE 1,829 16.0% 1,558 16.1%
INCOME FROM OPERATIONS 2,361 20.7% 2,082 21.5%
INTEREST INCOME 29 0.3% 80 0.8%
INCOME BEFORE PROVISION
FOR TAXES 2,390 20.9% 2,162 22.4%
PROVISION FOR
INCOME TAXES 899 7.9% 787 8.1%
NET INCOME $1,491 13.1% $1,375 14.2%
Earnings per share $0.31 $0.29
Weighted average number
of shares: 4,872 4,809
ALIGN-RITE INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(thousands, except per share data)
Six Months Ended
September 30,
1997 (Unaudited) 1996
NET SALES $22,040 100.0% $19,179 100.0%
COST OF SALES 13,832 62.8% 11,944 62.3%
GROSS PROFIT 8,208 37.2% 7,235 37.7%
SELLING AND GENERAL
ADMINISTRATIVE 3,523 16.0% 3,112 16.2%
INCOME FROM OPERATIONS 4,685 21.3% 4,123 21.5%
INTEREST INCOME 45 0.2% 202 1.1%
INCOME BEFORE PROVISION
FOR TAXES 4,730 21.5% 4,325 22.6%
PROVISION FOR
INCOME TAXES 1,791 8.1% 1,610 8.4%
NET INCOME $2,939 13.3% $2,715 14.2%
Earnings per share: $0.61 $0.57
Weighted average number
of shares: 4,853 4,805
ALIGN-RITE INTERNATIONAL INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, March 31,
1997 1997
(Unaudited) (Audited)
(thousands)
ASSETS
Current assets:
Cash, cash equivalents $6,601 $6,734
Accounts and notes receivable, net 6,841 6,121
Inventories 2,730 2,178
Other current assets 1,109 1,233
Total current assets 17,281 16,266
Property and equipment, net 26,424 22,089
Other assets 1,025 424
Total Assets $44,730 $38,779
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Current liabilities $8,544 $5,540
Total current liabilities 8,544 5,540
Other liabilities 2,130 1,867
Total liabilities 10,674 7,407
Shareholders' equity 34,056 31,372
Total liabilities and
shareholders' equity $44,730 $38,779
SOURCE Align-Rite International, Inc. |
