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Financial results

By Furniture Today Staff -- Furniture Today, March 16, 2003

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

CFC International
Quarter ended 12/31	2002	2001	Change
(a) Based on average shares outstanding of 4.5 million in the 2002 periods and 4.6 million in the 2001 periods. (b) Includes a $55,000 income tax benefit.
Sales	$15,956,000	$16,451,000	(3.0%)
Operating income	2,839,000	2,266,000	25.3%
Net income	1,088,000	567,000	91.9%
Earnings per share (a)	0.24	0.13	84.6%
Year ended 12/31	2002	2001	Change
Sales	$61,878,000	$61,995,000	(0.2%)
Operating income	8,226,000	5,407,000	52.1%
Net income	2,279,000	(b)(75,000)	—
Earnings per share (a)	0.51	(0.02)	—

Decorize
Quarter ended 12/31	2002	2001	Change
(a) Includes pretax charges for stock-based compensation of $20,000 in the 2002 quarter and $35,000 in the 2002 six months. (b) Includes pretax charges for stock-based compensation of $154,598 in the 2001 quarter and $309,197 in the 2001 six months and income tax benefits of $21,400 in the 2001 quarter and $16,300 in the 2001 six months. (c) Based on average shares outstanding of 10.7 million in the 2002 quarter, 10.3 million in the 2001 quarter, 10.8 million in the 2002 six months and 10.2 million in the 2001 six months.
Sales	$4,089,535	$3,775,908	8.3%
Operating income	57,201	182,248	(68.6%)
Net income	(a)(146,654)	(b)(55,038)	—
Earnings per share (c)	(0.01)	(0.01)	—
6 months ended 12/31	2002	2001	Change
Sales	$9,304,849	$6,714,647	38.6%
Operating income	423,880	227,823	86.1%
Net income	(a)17,541	(b)(234,983)	—
Earnings per share (c)	0.00	(0.02)	—

Rainbow Rentals
Quarter ended 12/31	2002	2001	Change
(a) Includes non-rental revenues of $1.4 million in the 2002 quarter, $1.3 million in the 2001 quarter, $6 million in the 2002 year and $5.8 million in the 2001 year. (b) Revenues minus merchandise costs, store expenses and general and administrative expenses. (c) Includes net losses from discontinued operations of $96,000 in the 2002 quarter and $172,000 in the 2002 year. (d) Includes a $113,000 income tax benefit.
Revenues (a)	$25,123,000	$24,023,000	4.6%
Operating income (b)	906,000	82,000	1004.9%
Net income	(c)302,000	(d)(169,000)	—
Earnings per share	0.05	(0.03)	—
Year ended 12/31	2002	2001	Change
Revenues (a)	$99,267,000	$94,555,000	5.0%
Operating income	(b)4,032,000	3,579,000	12.7%
Net income(c)	1,641,000	1,174,000	39.8%
Earnings per share	0.28	0.20	40.0%

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