Consolidated
Statements of Income (in thousands, except per share amounts)
| |
|
Fiscal
year ended
|
| |
|
November
1
2002 |
|
November
2
2001 |
|
November
3
2000 |
| |
|
|
| Net
sales |
|
$139,202
 |
|
$152,464
 |
|
$152,764
 |
| Cost
of products sold, |
|
|
|
|
|
|
| excluding
depreciation |
|
88,460
|
|
96,733
|
|
95,561 |
| Selling,
general and |
|
|
|
|
|
|
| administrative
expenses |
|
44,263
|
|
41,626
|
|
39,291 |
| Depreciation |
|
4,208
 |
|
4,033
 |
|
3,772
 |
| |
|
136,931
 |
|
142,392
 |
|
138,624
 |
| Income
before taxes |
|
2,271
|
|
10,072
|
|
14,140 |
| Provision
for taxes on income |
|
1,133
 |
|
3,828
 |
|
5,374
 |
| Net
income |
|
$1,138
 |
|
$6,244
 |
|
$8,766
 |
| Basic
earnings per share |
|
$0.11
 |
|
$0.59
 |
|
$0.80
 |
| Shares
used to compute basic |
|
|
|
|
|
|
| earnings
per share |
|
10,448,271
 |
|
10,538,091
 |
|
10,907,701
 |
| Diluted
earnings per share |
|
$0.11
 |
|
$0.59
 |
|
$0.80
 |
| Shares
used to compute diluted |
|
|
|
|
|
|
| earnings
per share |
|
10,488,683
 |
|
10,595,105
 |
|
10,926,630
 |
| |
|
|
|
|
|
|
CONSOLIDATED
STATEMENTS OF SHAREHOLDERS' EQUITY
(in thousands)
| |
|
Common
stock |
|
Capital
in excess
of par |
|
Retained
earnings |
|
Accumulated
Comprehensive
Income (loss) |
|
Total
shareholder's
equity |
| Shares
|
|
Amount
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Balance,
October 29,1999
|
|
$11,370
|
|
$11,427 |
|
$26,347 |
|
$20,361
|
|
|
|
$58,135 |
| Net
income |
|
|
|
|
|
|
|
8,766 |
|
|
|
8,766 |
| Cash
dividends paid ($.28 per share) |
|
|
|
|
|
|
|
(3,062) |
|
|
|
(3,062) |
| Shares
repurchased and retired |
|
 |
|
(755)
 |
|
(755)
 |
|
(6,888)
 |
|
 |
|
(7,643)
 |
| Balance,
November 3, 2000 |
|
10,615 |
|
10,672 |
|
19,459 |
|
26,065 |
|
|
|
56,196 |
| Net
income |
|
|
|
|
|
|
|
6,244 |
|
|
|
6,244 |
| Cash
dividends paid ($.28 per share) |
|
|
|
|
|
|
|
(2,954) |
|
|
|
(2,954) |
| Shares
repurchased and retired |
|
 |
|
(167)
 |
|
(167)
 |
|
(1,984)
 |
|
 |
|
(2,151)
 |
| Balance,
November 2, 2001 |
|
10,448 |
|
10,505 |
|
17,475 |
|
29,355 |
|
|
|
57,335 |
| Net
income |
|
|
|
|
|
|
|
1,138 |
|
|
|
1,138 |
| Cash
dividends paid ($.26 per share) |
|
|
|
|
|
|
|
(2,717) |
|
|
|
(2,717) |
Accumulated
comprehensive
|
|
|
|
|
|
|
|
|
|
|
|
|
| net
income (loss) |
|
 |
|
 |
|
 |
|
 |
|
(1,366)
 |
|
(1,366)
 |
| Balance,
November 1, 2002 |
|
$10,448
 |
|
$10,505
 |
|
$17,475
 |
|
$27,776
 |
|
($1,366)
 |
|
$54,390
 |
See accompanying
notes to consolidated financial statements.
(page
8)
|