Sunbeam 2001 Annual Report Download - page 31

alltrista corporation
Selected Financial Data
Year ended December 31,
2001 2000 1999 1998 1997
(in thousands, except per share amounts)
Statement of Operations Data:
Netsales....................................... $ 304,978 $ 357,356 $ 358,031 $ 258,489 $ 249,604
Costs and expenses
Costofsales .................................. 233,676 275,571 257,308 188,174 183,371
Selling, general and administrative expenses .......... 52,212 56,019 55,322 37,452 34,868
Goodwill amortization .......................... 5,153 6,404 4,605 1,399 1,265
Special charges (credits) and reorganization expenses (a) . . 4,978 380 2,314 1,260 —
Loss (gain) on divestiture of assets and product lines..... 122,887 — (19,678) — —
Income (loss) before interest, taxes and minority interest . . . (113,928) 18,982 58,160 30,204 30,100
Interest expense, net.............................. 11,791 11,917 8,395 1,822 2,256
Income tax provision (benefit) ...................... (40,443) 2,402 19,458 10,785 10,603
Minority interest in loss (gain) of consolidated subsidiary . . 153 (259) — — —
Income (loss) from continuing operations .............. (85,429) 4,922 30,307 17,597 17,241
Loss from discontinued operations ................... — — (87) (1,870) (2,404)
Extraordinary loss from early extinguishment of debt
(netofincometaxes)............................ — — (1,028) — —
Netincome(loss)................................ $ (85,429) $ 4,922 $ 29,192 $ 15,727 $ 14,837
Basic earnings (loss) per share:
Income (loss) from continuing operations ............ $ (13.43) $ 0.78 $ 4.50 $ 2.48 $ 2.33
Loss from discontinued operations.................. — — (0.01) (0.26) (0.33)
Extraordinary loss from early extinguishment of debt
(netofincometaxes).......................... — — (0.15) — —
$ (13.43) $ 0.78 $ 4.34 $ 2.22 $ 2.00
Diluted earnings (loss) per share:
Income (loss) from continuing operations ............ $ (13.43) $ 0.77 $ 4.44 $ 2.45 $ 2.28
Loss from discontinued operations.................. — — (0.01) (0.26) (0.32)
Extraordinary loss from early extinguishment of debt (net
ofincometaxes).............................. — — (0.15) — —
$ (13.43) $ 0.77 $ 4.28 $ 2.19 $ 1.96
Other Data:
EBITDA(b)..................................... $ 32,734 $ 40,673 $ 58,493 $ 42,012 $ 40,485
Depreciation and amortization ...................... 18,797 21,311 17,697 10,548 10,385
Capital expenditures.............................. 9,707 13,637 16,628 11,909 7,897
Balance Sheet Data (at end of period):
Cash and cash equivalents ......................... $ 6,376 $ 3,303 $ 17,394 $ 21,454 $ 26,641
Workingcapital ................................. 8,035 22,975 54,611 46,923 53,759
Totalassets..................................... 161,303 308,739 338,751 165,831 166,577
Totaldebt...................................... 84,875 137,060 140,761 25,715 30,000
Total stockholders’ equity .......................... 35,129 118,221 123,025 94,893 97,309
(a) Special charges (credits) and reorganization expenses were comprised of the following (in millions):
2001 2000 1999 1998
Costs to evaluate strategic options .............................. $1.4 $0.6 $— $—
Discharge of deferred compensation obligations.................... (4.1) — — —
Separation costs for former officers ............................. 2.6 — — —
Stock option compensation ................................... 2.4 — — —
Corporate restructuring costs ................................. 2.3 — — —
Costs to exit facilities ....................................... 0.8 — 2.3 —
Reduction of long-term performance-based compensation ............ — (1.6) — —
Litigation charges .......................................... — 1.4 — —
Items related to divested operations............................. (0.4) — — 1.3
$ 5.0 $ 0.4 $2.3 $1.3
(b) ‘‘EBITDA’’ is calculated as income (loss) before interest, taxes and minority interest plus (i) depreciation and
amortization, (ii) special charges (credits) and reorganization expenses and (iii) loss (gain) on divestiture of assets and
product lines. EBITDA is not intended to represent cash flow from operations as defined by accounting principles
generally accepted in the United States and should not be used as an alternative to net income as an indicator of
operating performance or to cash flow as a measure of liquidity. EBITDA is included in this offering memorandum
because it is a basis upon which our management assesses financial performance. While EBITDA is frequently used as
a measure of operations and the ability to meet debt service requirements, it is not necessarily comparable to other
similarly titled captions of other companies due to potential inconsistencies in the method of calculation.
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