KINARK CORPORATION AND SUBSIDIARY
UNAUDITED PRO FORMA STATEMENT OF INCOME
YEAR ENDED DECEMBER 31, 1999
Pro Forma
Kinark Adjustments Pro Forma
(Dollars in Thousands Year Ended Year Ended As
Except Per Share Amounts) 12/31/99 12/31/99 Adjusted
------------------------ ---------- ----------- ---------
Sales $ 45,058 $ (7,217) $ 37,841
Cost of sales 33,185 (5,918) 27,267
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Gross profit 11,873 (1,299) 10,574
Selling, general & administrative 6,459 (436) 6,023
Depreciation & amortization 3,045 (447) 2,598
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Operating income 2,369 (416) 1,953
Interest expense, net 729 --- 729
Other expense, net 208 --- 208
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Income before income taxes 1,432 (416) 1,016
Income tax expense 635 (158) 477
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Income From Continuing Operations 797 (258) 539
Income From Discontinued
Operations, net of income taxes --- 258 258
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Net Income $ 797 $ --- $ 797
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Net Income Per Common Share
Continuing Operations:
Basic and Diluted $ .12 $ .08
Discontinued Operations:
Basic and Diluted --- .04
Net Income:
Basic and Diluted $ .12 $ .12
Operating and Other Data:
EBITDA $ 5,206 $ (863) $ 4,343
Capital expenditures 5,511 (247) 5,264
Cash interest paid 781 --- 781
