Rayovac 2004 Annual Report Download - page 104

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Consolidating Statement of Operations
Year Ended September 30, 2004
Parent
Guarantor
Subsidiaries
Nonguarantor
Subsidiaries Eliminations
Consolidated
Total
Net sales .............................. $661,832 $ 56,384 $809,006 $(110,036) $1,417,186
Cost of goods sold ...................... 386,914 54,692 481,099 (110,811) 811,894
Restructuring and related charges ........... (891) — 110 — (781)
Gross profit ........................ 275,809 1,692 327,797 775 606,073
Operating expenses:
Selling ............................ 123,837 954 168,653 (326) 293,118
General and administrative ............ 77,270 (16,429) 60,478 — 121,319
Research and development ............ 20,332 — 2,860 — 23,192
Restructuring and related charges ....... 9,621 — 2,603 — 12,224
231,060 (15,475) 234,594 (326) 449,853
Operating income ....................... 44,749 17,167 93,203 1,101 156,220
Interest expense ........................ 62,411 — 3,291 — 65,702
Equity income .......................... (89,152) (70,589) — 159,741 —
Other expense (income), net ............... 11,986 (2,118) (9,804) — 64
Minority interest ........................ — — (78) — (78)
Income from continuing operations before
income taxes ......................... 59,504 89,874 99,794 (158,640) 90,532
Income tax expense ..................... 3,369 722 29,862 419 34,372
Income from continuing operations ......... 56,135 89,152 69,932 (159,059) 56,160
Loss (gain) from discontinued operations, net
oftax ............................... 1,037 — (657) — 380
Net income ............................ $ 55,098 $ 89,152 $ 70,589 $(159,059) $ 55,780
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