CHARLOTTESVILLE, Va., May 21 (Reuters) -
NIMBUS CD INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share data)
(Unaudited)
Three months ended Twelve months ended
March 31, March 31,
1998 1997 1998 1997
Net Sales $30,097 $28,528 $132,340 $129,470
Cost of goods sold 21,680 21,257 94,037 91,961
Gross profit 8,417 7,271 38,303 37,509
Selling, general
and administrative
expenses 4,554 4,082 17,634 15,463
Restructuring charge - 6,014 (664) 6,014
Operating income 3,863 (2,825) 21,333 16,032
Interest expense 510 694 2,672 2,666
Other (income)
expense, net (363) (102) (2,440) (395)
Income before
income taxes 3,716 (3,417) 21,101 13,761
Provision for
income taxes 1,161 (1,526) 7,289 4,586
Net income 2,555 (1,891) 13,812 9,175
Earnings per share
- basic 0.12 (0.09) 0.65 0.44
Earnings per share
- diluted 0.11 (0.08) 0.60 0.40
Weighted average shares outstanding:
Basic 21,389 20,870 21,173 20,862
Diluted 22,985 23,002 22,964 23,007
NIMBUS CD INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
(Unaudited)
As of As of
Mar 31, Mar 31,
1998 1997
ASSETS
Cash $8,239 $7,790
Accounts and notes receivable,
net of allowance
for doubtful accounts 30,046 26,393
Inventories 2,500 2,217
Other current assets 5,201 4,744
Total current assets 45,986 41,144
Property, plant and equipment 79,907 63,431
Other assets 5,409 3,697
Total assets 131,302 108,272
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable 9,259 5,617
Accrued expenses 21,454 20,198
Total current liabilities 30,713 25,815
Long-term debt,
including current portion 25,893 25,999
Other long-term liabilities 8,402 4,036
Stockholders' equity 66,294 52,422
Total liabilities
and stockholders'
equity 131,302 108,272
-- New York Newsdesk 212 859-1610 |
