EX-99 4 lxu-ex991_12.htm EX-99.1 lxu-ex991_12.htm

Exhibit 99.1

ITEM 6. SELECTED FINANCIAL DATA (1)

 

 

Year ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

2011

 

 

 

(In Thousands, Except Per Share Data)

 

Selected Statement of Operations Data in Dollars:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales (2)

 

$

437,695

 

 

$

495,888

 

 

$

416,223

 

 

$

516,255

 

 

$

549,871

 

Operating income (loss)

 

 

(71,166

)

 

 

30,577

 

 

 

73,739

 

 

 

69,682

 

 

 

102,985

 

Interest expense, net

 

 

7,371

 

 

 

21,599

 

 

 

13,301

 

 

 

3,891

 

 

 

5,822

 

Provisions (benefit) for income taxes

 

 

(32,520

)

 

 

4,251

 

 

 

23,955

 

 

 

24,515

 

 

 

36,090

 

Income (loss) from continuing operations

 

 

(46,146

)

 

 

5,087

 

 

 

35,600

 

 

 

42,110

 

 

 

61,491

 

Income from discontinued operations, including taxes

 

 

11,381

 

 

 

14,547

 

 

 

19,362

 

 

 

16,494

 

 

 

22,351

 

Net income (loss)

 

 

(34,765

)

 

 

19,634

 

 

 

54,962

 

 

 

58,604

 

 

 

83,842

 

Net (loss) income attributable to common stockholders

 

$

(38,038

)

 

$

19,334

 

 

$

54,662

 

 

$

58,304

 

 

$

83,537

 

Income (loss) per common share attributable to

   common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

(2.17

)

 

$

0.21

 

 

$

1.57

 

 

$

1.87

 

 

$

2.79

 

Income from discontinued operations, including taxes

 

$

0.50

 

 

$

0.65

 

 

$

0.86

 

 

$

0.74

 

 

$

1.01

 

Net income (loss)

 

$

(1.67

)

 

$

0.86

 

 

$

2.43

 

 

$

2.61

 

 

$

3.80

 

Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

(2.17

)

 

$

0.21

 

 

$

1.51

 

 

$

1.79

 

 

$

2.63

 

Income from discontinued operations, including taxes

 

$

0.50

 

 

$

0.64

 

 

$

0.82

 

 

$

0.70

 

 

$

0.95

 

Net income (loss)

 

$

(1.67

)

 

$

0.85

 

 

$

2.33

 

 

$

2.49

 

 

$

3.58

 

Selected Balance Sheet Data in Dollars:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets (3)

 

$

1,361,827

 

 

$

1,130,572

 

 

$

1,075,218

 

 

$

575,808

 

 

$

500,953

 

Long-term debt, including current portion, net (3)

 

 

520,422

 

 

 

450,885

 

 

 

455,054

 

 

 

67,634

 

 

 

71,132

 

Redeemable preferred stock

 

 

177,272

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

44

 

Stockholders' equity

 

$

421,580

 

 

$

434,048

 

 

$

411,715

 

 

$

354,497

 

 

$

293,270

 

Selected Other Data in Dollars:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividends declared per common share

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

(1)

The following selected consolidated financial data were derived from our audited consolidated financial statements and should be read in conjunction with, and are qualified by reference to Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations in Exhibit 99.2 and the audited consolidated financial statements and notes thereto in Exhibit 99.3 attached to this Form 8-K.  The financial information presented may not be indicative of our future performance.

The assets and liabilities and operating results for the previously reported Climate Control Business segment have been reclassified as assets and liabilities held for sale and discontinued operations from our continuing operations for all periods presented.  For further information regarding our discontinued operations, see Note - 2 Discontinued Operations to the audited consolidated financial statements in Exhibit 99.3 attached to this Form 8-K.

(2)

Prior periods have been adjusted to classify certain shipping and handling costs from net sales and SG&A to cost of sales to conform to our current presentation of our consolidated statement of operations for 2015.  See Note - 1 to Consolidated Financial Statements in Exhibit 99.3 attached to this Form 8-K.

(3)

Prior periods have been adjusted for the reclassification of certain debt issuance costs from total assets to long-term debt, net, to be consistent with the 2015 presentation due to the adoption of certain Accounting Standards Updates as discussed under Accounting Pronouncements - Note - 1 to Consolidated Financial Statements in Exhibit 99.3 attached to this Form 8-K.