Rayovac 2004 Annual Report Download - page 107

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Consolidating Statement of Operations
Year Ended September 30, 2003
Parent
Guarantor
Subsidiaries
Nonguarantor
Subsidiaries Eliminations
Consolidated
Total
Net sales .............................. $364,348 $ 41,562 $592,366 $ (76,154) $922,122
Cost of goods sold ...................... 209,121 40,314 373,495 (73,416) 549,514
Restructuring and related charges ........... 12,497 — 8,568 — 21,065
Gross profit ........................ 142,730 1,248 210,303 (2,738) 351,543
Operating expenses:
Selling ............................ 70,205 818 114,506 (354) 185,175
General and administrative ............ 51,077 (10,550) 40,348 — 80,875
Research and development ............ 12,096 — 2,268 — 14,364
Restructuring and related charges ....... 7,693 — 3,794 — 11,487
141,071 (9,732) 160,916 (354) 291,901
Operating income ....................... 1,659 10,980 49,387 (2,384) 59,642
Interest expense ........................ 34,780 — 15,284 (12,882) 37,182
Equity income .......................... (57,423) (61,090) — 118,513 —
Non-operating expense ................... 3,072 — — — 3,072
Other expense (income), net ............... 28,236 (1,244) (43,771) 13,132 (3,647)
(Loss) income before income taxes ......... (7,006) 73,314 77,874 (121,147) 23,035
Income tax (benefit) expense .............. (22,236) 15,891 16,784 (2,886) 7,553
Net income ............................ $ 15,230 $ 57,423 $ 61,090 $(118,261) $ 15,482
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