EX-99.3 5 ex993disclosuresummary.htm AMENDED DISCLOSURE STATEMENT SUMMARY

Exhibit 99.3

Summary of Selected Financial Data

                                           (Amounts in thousands of dollars, except per share data)

  FISCAL YEAR ENDING JUNE 30,      
Statements of Operations Data:
 
2005
(unaudited)
2004
 
2003
 
Net sales     $ 249,952   $ 268,829   $ 289,152  
Cost of sales       211,794     213,989     214,977  



Gross profit       38,158     54,840     74,175  
Selling, marketing and administrative expenses       47,955     46,138     45,834  
Restructuring charge       541     -     2,049  



Casualty gain       -     490     -  
Operating income       (10,338 )   9,192     26,292  
Interest expense, net       (35,954 )   (33,947 )   (24,286 )
Other financing costs       -     (2,678 )   (445 )



Income (loss) before income tax provision (benefit)
     and cumulative effect of accounting change
      (46,292 )   (27,433 )   1,561  
Income tax provision (benefit)       -     -     -  



Income (loss) before cumulative effect of
     accounting change
      (46,292 )   (27,433 )   1,561  



Net income (loss)       (46,292 )1   (27,433 )   1,561  



Cash flows provided by (used for) operating activities       (2,631 )   1,029     14,740  
Cash flows provided by (used for) investing activities       (1,224 )   (2,459 )   1,707  
Cash flows provided by (used for) financing activities       46     (1,297 )   (24,247 )
Depreciation and amortization       11,850     12,754     13,621  
Capital expenditures       1,224     2,459     5,081  
                       
Balance Sheet Data:                      
Total assets       160,247 1   194,362     207,388  
Current portion of short-term debt       225,046     -     4,039  
Long-term debt, less current portion       -     220,279     209,405  
Payable to RadioShack       70,067     70,067     72,067  
Mandatorily redeemable preferred stock       31,437     26,258     21,933  
Stockholders' equity (deficit)       (209,218 )1   (164,552 )   (138,360 )
                       

         1The Debtors expect to book a facility impairment charge of up to $11 million for FY 2005, which they are currently reviewing with their auditors, and would result in a corresponding decrease in Total assets and an increase in Stockholders' (deficit).