Case-Valmont_Industries

Case-Valmont_Industries - Exhibit 2 VALMONT INDUSTRIES,...

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Exhibit 2 VALMONT INDUSTRIES, INC. Consolidated Statement of Operations ($000) 1988 1989 1990 1991 1992 1Q 93E 2Q 93E 3Q 93E 4Q 93E Net Sales 427,818 430,721 446,536 429,718 424,685 106,909 113,000 97,000 108,000 Cost of Goods Sold 331,736 324,764 340,630 340,178 327,359 81,567 85,600 73,500 80,200 S G & A 72,462 74,153 80,525 80,560 76,336 19,624 20,000 18,500 20,000 Restructuring Charge - - - 15,005 - - - - - Operating profit 23,620 31,804 25,381 (6,025) 20,990 5,718 7,400 5,000 7,800 Interest Expense 6,490 5,602 8,636 7,813 6,847 1,558 1,100 1,000 1,000 Other Income (Loss) 4,746 2,080 1,313 275 618 100 229 300 300 Pretax profit 21,876 28,282 18,058 (13,563) 14,761 4,260 6,529 4,300 7,100 Taxes 6,679 11,235 6,279 (4,713) 5,134 1,459 2,479 1,122 2,240 Income before equity in affiliates 15,197 17,047 11,779 (8,850) 9,627 2,801 4,050 3,178 4,860 Equity in earnings of affiliates 107 3,611 3,770 840 3,585 687 300 - - Net Income 15,304 20,658 15,549 (8,010) 13,212 3,488 4,350 3,178 4,860 Earnings per share $1.38 $1.78 $1.34 $(0.69) $1.14 $0.30 $0.37 $0.27 $0.41 Dividends per share $0.17 $0.22 $0.26 $0.26 $0.26 $0.065 $0.065 $0.065 $0.065 Average shares outstanding 11,120 11,604 11,635 11,527 11,583 11,751 11,700 11,750 11,780 Common stock-market prices High $11.25 $20.00 $25.00 $18.50 $18.75 Low $4.38 $11.00 $9.25 $9.50 $10.38 Note: Estimate does not include FASB 109 charge to earnings of $4.9 million ($0.42) per share in the first quarter of 1993 or an estimated $4 million g ($0.37 per share) in second quarter 1993 from the sale of a subsidiary. Source: Dain Bosworth Incorporated, Research Update, "Valmont Industries, Inc." (June 14, 1993); and Valmont Industries, Inc. 1992 Annual Report
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Exhibit 3 VALMONT INDUSTRIES, INC, Consolidated Balance Sheets (fiscal year-end December 31; $000) Assets 1988 1989 1990 1991 1992 Current Assets: Cash and cash equivalents 5,299 13,826 10,859 7,283 12,747 Receivables, net 60,578 67,491 79,803 65,968 65,630 Inventories 70,390 76,746 71,783 67,954 60,560 Other current assets 7,023 4,161 7,607 18,188 14,406 Total Current Assets 143,290 162,224 170,052 159,393 153,343 Other assets 24,190 29,080 33,571 39,302 44,135 Property, plant and equipment, net 51,600 70,286 79,610 82,164 75,740
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This note was uploaded on 07/13/2011 for the course FIN 4414 taught by Professor Staff during the Spring '08 term at University of Florida.

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Case-Valmont_Industries - Exhibit 2 VALMONT INDUSTRIES,...

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