MARK IV INDUSTRIES, INC.
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS (UNAUDITED)
For the Six Month Periods Ended August 31, 1996 and 1995
(Amounts in thousands, except per share data)
| |
1996
 |
1995
|
| Net sales |
$ 1,194,000
|
$ 1,028,000
|
 |
|
|
| Operating costs |
|
|
Cost of products sold
|
813,100
|
690,400
|
Selling and administration
|
191,400
|
173,500
|
Research and development
|
25,000
|
21,700
|
Depreciation and amortization
|
37,800
|
32,400
|
Total operating costs
|
1,067,300
|
918,000
|
|
|
|
Operating income
|
126,700
|
110,000
|
|
|
|
| Interest expense |
36,200
|
30,200
|
|
|
|
Income before income taxes
|
90,500
|
79,800
|
|
|
|
Provision for income taxes
|
35,300
|
31,100
|
|
|
|
NET INCOME
|
55,200
|
48,700
|
|
|
|
| Retained earnings - beginning of the period |
109,700
|
90,800
|
|
|
|
| Cash dividends of $.035 and $.029 per share |
(4,400)
|
(3,600)
|
|
|
|
Retained earnings - end of the period
|
$ 160,500
|
$ 135,900
|
|
|
|
| Net income per share of common stock: |
|
|
Primary
|
$ .87
|
$ .77
|
Fully-diluted
|
$ .87
|
$ .77
|
|
|
|
| Weighted average number of shares outstanding: |
|
|
Primary
|
63,100
|
63,000
|
Fully-diluted
|
63,500
|
63,400
|
MARK IV INDUSTRIES, INC.
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS (UNAUDITED)
For the Three Month Periods Ended August 31, 1996 and 1995
(Amounts in thousands, except per share data)
| |
1996
|
1995
|
| Net sales |
$ 577,100
|
$ 509,500
|
|
|
|
| Operating costs |
|
|
Cost of products sold
|
392,700
|
344,600
|
Selling and administration
|
91,400
|
83,100
|
Research and development
|
11,900
|
10,900
|
Depreciation and amortization
|
19,000
|
16,200
|
Total operating costs
|
515,000
|
454,800
|
|
|
|
Operating income
|
62,100
|
54,700
|
|
|
|
| Interest expense |
18,400
|
15,200
|
|
|
|
Income before income taxes
|
43,700
|
39,500
|
|
|
|
Provision for income taxes
|
17,000
|
15,400
|
|
|
|
NET INCOME
|
26,700
|
24,100
|
|
|
|
| Retained earnings - beginning of the period |
136,000
|
113,600
|
|
|
|
| Cash dividends of $.035 and $.029 per share |
(2,200)
|
(1,800)
|
|
|
|
Retained earnings - end of the period
|
$ 160,500
|
$ 135,900
|
|
|
|
| Net income per share of common stock: |
|
|
Primary
|
$ .42
|
$ .38
|
Fully-diluted
|
$ .42
|
$ .38
|
|
|
|
| Weighted average number of shares outstanding: |
|
|
Primary
|
63,100
|
63,000
|
Fully-diluted
|
63,500
|
63,400
|