EX-99.4
Published on December 15, 2009
Exhibit 99.4
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Reference is made to the financial statements, the report thereon, and the notes thereto, and
the supplementary data commencing at page F-1 of this report, which financial statements, report,
notes, and data are included herein.
The following unaudited selected quarterly results of operations data for the years ended
December 31, 2008 and 2007 have been derived from our unaudited consolidated financial statements,
which in the opinion of management have been prepared on the same basis as the audited consolidated
financial statements and reflect all adjustments (consisting of normal recurring adjustments)
necessary to present fairly the information for the quarters presented. This information should be
read in conjunction with the consolidated financial statements and the related notes and
Managements Discussion and Analysis of Financial Condition and Results of Operations included as
part of this report. The operating results for the quarters presented are not necessarily
indicative of the operating results of any future period. We use a 13-week fiscal quarter
accounting period with the first quarter ending on the Monday closest to April 1 and the fourth
quarter always ending on December 31. The first and fourth quarters of 2008 contained 91 and 93
days, respectively, and for 2007, the first and fourth quarters contained 92 and 91 days,
respectively.
As discussed in Note 2 to our consolidated financial statements, our consolidated financial
statements for 2008 have been adjusted for the retrospective
application of FSP APB 14-1, which has been applied to the
Convertible Notes issued May 2008.
First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
As Adjusted | As Adjusted | As Adjusted | ||||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Year Ended December 31, 2008: |
||||||||||||||||
Net sales |
$ | 174,071 | $ | 172,975 | $ | 169,019 | $ | 164,916 | ||||||||
Gross profit |
37,602 | 36,591 | 32,141 | 30,666 | ||||||||||||
Income (loss) before income taxes |
22,885 | 14,386 | 13,190 | (111,832 | )(a) | |||||||||||
Net income (loss) |
14,372 | 9,112 | 8,793 | (69,188 | ) | |||||||||||
Earnings (loss) per share: |
||||||||||||||||
Basic |
$ | 0.34 | $ | 0.21 | $ | 0.21 | $ | (1.62 | ) | |||||||
Diluted |
$ | 0.34 | $ | 0.21 | $ | 0.20 | $ | (1.62 | ) | |||||||
Year Ended December 31, 2007: |
||||||||||||||||
Net sales |
$ | 176,897 | $ | 162,016 | $ | 163,079 | $ | 167,466 | ||||||||
Gross profit |
34,721 | 29,546 | 31,245 | 34,657 | ||||||||||||
Income before income taxes |
13,455 | 9,927 | 12,867 | 15,019 | ||||||||||||
Net income |
8,465 | 6,184 | 8,201 | 11,833 | ||||||||||||
Earnings per share: |
||||||||||||||||
Basic |
$ | 0.20 | $ | 0.15 | $ | 0.19 | $ | 0.28 | ||||||||
Diluted |
$ | 0.20 | $ | 0.15 | $ | 0.19 | $ | 0.28 |
(a) | Includes impairment charges of $123.3 million consisting of a goodwill impairment of $117.0 million and a long-lived asset impairment of $6.3 million. |
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