CORRESP 4 filename4.htm

Exhibit C

Proposed Draft of Revised Consolidated Statement of Shareholders' Equity

 

Common Stock Capital in
Excess of		 Retained
Earnings		 Accumulated
Other
Comprehensive
Shares
 Amount
 Par Value
 (Deficit)
 Income (Loss)
 Total
Balance at October 31, 2001      50,000   $ 50,000   $ 581,898   $ (76,498 ) $ (71,693 ) $ 483,707  
      Comprehensive income (loss):  
         Net loss    --    --    --    (28,017 )  --    (28,017 )
         Change in additional minimum pension liability    --    --    --    --    (114,176 )  (114,176 )
         Derivative instrument fair market value adjustment    --    --    --    --    (643 )  (643 )
         Currency translation adjustment    --    --    --    --    6,045          6,045  
                 Total comprehensive loss                        (136,791 )
      Issuance of stock as professional fee payment    228    228    3,472    --    --    3,700  
Balance at November 2, 2002    50,228   $ 50,228   $ 585,370   $ (104,515 ) $ (180,467 ) $ 350,616  
      Comprehensive income (loss):                          
         Net income    --    --    --    18,516    --    18,516  
         Change in additional minimum pension liability    --    --    --    --    (33,652 )  (33,652 )
         Derivative instrument fair market value adjustment    --    --    --    --    585    585  
         Currency translation adjustment    --    --    --    --    31,974          31,974  
                 Total comprehensive income                        17,423
      Exercise of stock options    145    145    1,910    --    --   *2,055  
      Tax benefit from exercise of stock options    --    --    179    --    --    179  
Balance at November 1, 2003    50,373   $ 50,373   $ 587,459   $ (85,999 ) $ (181,560 ) $ 370,273  
      Comprehensive income (loss):                          
         Net income    --    --    --    55,322    --    55,322  
         Dividends    --    --    --    (14,365 )  --    (14,365 )
         Change in additional minimum pension liability    --    --    --    --    (22,158 )  (22,158 )
         Derivative instrument fair market value adjustment    --    --    --    --    3,088    3,088  
         Currency translation adjustment    --    --    --    --    3,597          3,597  
                 Total comprehensive income                        25,484
      Exercise of stock options    2,867    2,867    41,711    --    --   *44,578  
      Tax benefit from exercise of stock options    --    --    11,713    --    --    11,713  
Balance at October 30, 2004    53,240   $ 53,240   $ 640,883   $ (45,042 ) $ (197,033 ) $ 452,048  

* - Difference between Consolidated Statement of Shareholders' Equity and Consolidated Statement of Cash Flows represents $138 of cash received in Fiscal 2004 relating to stock options exercised in Fiscal 2003.