EX-99.10 11 e49191ex99-10.htm EFFECT OF CHANGES ON INCOME STATEMENT FULL YEAR 2009

99.10   Effect of changes on Income Statement for full year 2009 (000's, except for per share amounts).  
             
    As reported     Year ended
    Year ended   Reclassify Primaloft   December 31, 2009
    December 31,   to discontinued Other  reported in
    2009   operations reclassifications 2012 format
              
Net sales   $737,621   ($18,992)   $718,629 
Cost of goods sold   484,335    (10,139)   474,196 
             
Gross profit   253,286    (8,853)               -  244,433 
   Selling, general, and administrative expenses   168,709    (4,717)   163,992 
   Technical, product engineering, and research expenses 52,529    (481)   52,048 
   Restructuring and other, net   68,174            (61)   68,113 
             
Operating income/(loss)   (36,126)   (3,594) (39,720)
   Interest expense, net   20,627                -    20,627 
   Other (income)/expense, net   (49,700)                -            (32) (49,732)
             
Income before income taxes    (7,053)   (3,594) 32  (10,615)
   Income tax expense/(benefit)   14,440    (1,523)   12,917 
             
Income from continuing operations before earnings of associated companies               (21,493)      (2,071)            32            (23,532)
Equity in (earnings)/losses from associated companies (32)                 -             32                      - 
             
Income from continuing operations               (21,461)        (2,071)                -           (23,532)
             
   Income from operations of discontinued business   (12,061)   3,594    (8,467)
   Gain on sale of discontinued business                         -                 -                        - 
   Income tax expense on discontinued operations                   (64)        1,523              1,459 
Income from discontinued operations           (11,997)   2,071    (9,926)
Net income   ($33,458)   $               -  $                -  ($33,458)
             
Earnings per share - Basic            
(Loss)/income from continuing operations   ($0.70)       ($0.77)
Discontinued operations   (0.39)       (0.32)
Net (loss)/income   ($1.09)       ($1.09)
             
Earnings per share - Diluted            
(Loss)/income from continuing operations   ($0.70)       ($0.77)
Discontinued operations   (0.39)       ($0.32)
Net (loss)/income   ($1.09)       ($1.09)
             
Shares used in computing earnings per share:            
  Basic   30,612        30,612
  Diluted   30,612        30,612