biz.yahoo.com part 2:
CANNONDALE CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands, except share data and days sales outstanding)
September 26 September 27,
1998 1997
(Unaudited) (Unaudited)
Assets
Current assets:
Cash $2,407 $4,716
Trade accounts receivable,
less allowances of $8,747
and $7,324 57,075 54,360
Inventory 46,404 38,469
Deferred income taxes 3,312 2,942
Prepaid expenses and other
current assets 5,519 3,885
Total current assets 114,717 104,372
Property, plant and equipment,
net 36,868 25,529
Other assets 15,736 2,467
Total assets $167,321 $132,368
Liabilities and stockholders'
equity
Current liabilities:
Accounts payable $16,759 $15,502
Revolving credit advances 2,022 1,052
Income taxes payable 2,382 3,546
Warranty and other accrued
expenses 7,613 6,881
Current installments of
long-term debt 560 538
Total current liabilities 29,336 27,519
Long-term debt, less current
installments 63,261 22,474
Deferred income taxes 1,561 328
Other noncurrent liabilities 275 275
Total liabilities 94,433 50,596
Stockholders' equity:
Common stock, $.01 par value
Authorized shares - 40,000,000
Issued shares - 8,741,579
and 8,701,851 87 87
Additional paid-in capital 57,355 57,055
Retained earnings 36,117 26,723
Less 1,292,900 and 25,000
shares in treasury at
cost (20,162) (570)
Cumulative translation
adjustment (509) (1,523)
Total stockholders' equity 72,888 81,772
Total liabilities and
stockholders' equity $167,321 $132,368
Days sales outstanding 114 122
CANNONDALE CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Earnings
(in thousands, except for per-share data)
First First
Quarter Quarter
Fiscal 1999 Fiscal 1998
(Unaudited) (Unaudited)
Net sales $42,218 $34,309
Cost of sales 27,614 22,952
Gross profit 14,604 11,357
Expenses:
Selling, general and
administrative 10,674 9,105
Research and development 2,153 1,119
12,827 10,224
Operating income 1,777 1,133
Other income(expense):
Interest expense (839) (179)
Other income 136 148
(703) (31)
Pretax income 1,074 1,102
Income tax expense (362) (432)
Net income $712 $670
Basic income per share $.09 $.08
Weighted average common
shares 7,682 8,685
Diluted income per share $.09 $.07
Weighted average common and
common equivalent shares
outstanding 7,844 8,941
SOURCE: Cannondale Corporation |
