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Financial results

By Furniture Today Staff -- Furniture Today, March 28, 2004

Earnings per share are fully diluted, and all figures in parentheses are losses or declines.

CFC International
Quarter ended 12/31 2003 2002 Change
Sales $15,314,000 $15,956,000 (4.0%)
Operating income 641,000 2,839,000 (77.4%)
Net income (a)(202,000) 1,088,000
Earnings per share (0.05) 0.24
Year ended 12/31 2003 2002 Change
Sales $62,788,000 $61,878,000 1.5%
Operating income 4,865,000 8,226,000 (40.9%)
Net income (a)(162,000) 2,279,000
Earnings per share (0.04) 0.51
(a) Includes income tax benefits of $315,000 in the 2003 quarter and $298,000 in the 2003 year. The 2003 quarter also includes a $59,000 pretax credit for interest rate swap valuation and the 2003 year also includes a $48,000 pretax charge for interest rate swap valuation
Kimball International
Owns Kimball Home Furniture
Quarter ended 12/31 2003 2002 Change
Sales $301,070,000 $302,340,000 (0.4%)
Operating income 6,106,000 7,532,000 (18.9%)
Net income (a) 6,604,000 (4,609,000)
Earnings per share (b) 0.17 (0.12)
6 months ended 12/31 2003 2002 Change
Sales $575,245,000 $592,455,000 (2.9%)
Operating income 11,660,000 13,753,000 (15.2%)
Net income (a) 9,682,000 (11,000)
Earnings per share (b) 0.26 0.00
(a) Includes pretax charges for restructuring and other expense of $641,000 in the 2003 quarter, $2.4 million in the 2003 six months and $17.4 million in the 2002 periods. The 2002 periods also includes income tax benefits of $2.7 million in the quarter and $5,000 in the six months. (b) Class B.
Valspar
Quarter ended 1/30 2004 2003 Change
Sales $501,591,000 $468,971,000 7.0%
Operating income 40,252,000 37,147,000 8.4%
Net income 18,386,000 15,618,000 17.7%
Earnings per share 0.35 0.30 16.7%
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