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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