BALDWIN TECHNOLOGY COMPANY, INC.
CONSOLIDATED STATEMENT OF INCOME
(in thousands of dollars except per share data)
(Unaudited)
For the three months For the six months
ended December 31, ended December 31,
1993 1992 1993 1992
Net sales $45,446 $53,910 $ 91,858 $104,376
Cost of goods sold 29,921 35,034 59,484 67,268
Gross Profit 15,525 18,876 32,374 37,108
Operating expenses:
General and administrative 4,900 5,399 9,557 10,528
Selling 4,439 4,558 9,163 8,369
Engineering 2,355 2,449 4,933 5,146
Research and development 1,409 1,859 2,839 3,384
Technical service 671 516 1,327 1,861
13,774 14,781 27,819 29,288
Operating income 1,751 4,095 4,555 7,820
Other (income) expense
Interest expense 919 1,591 1,981 3,280
Interest (income) (69) (60) (148) (165)
Other (income) expense, net 141 65 605 974
991 1,596 2,438 4,089
Income before taxes and
cumulative effect of change
in accounting 760 2,499 2,117 3,731
Provision for income taxes 395 1,374 1,122 2,052
Income before taxes and
cumulative effect of change
in accounting 365 1,125 995 1,679
Cumulative effect of change
in accounting for income
taxes 1,229
Net income $ 365 $ 1,125 $ 995 $ 2,908
Income (Loss) per share from:
Income before cumulative ef-
fect of change in accounting $ 0.02 $ 0.07 $ 0.06 $ 0.10
Cumulative effect of change
in accounting for income
taxes 0.07
Net income per common and
common equivalent share $ 0.02 $ 0.07 $ 0.06 $ 0.17
Dividends declared
Per share - Class A
Per share - Class B
Weighted average number of
shares outstanding 18,072 17,410 18,017 17,242
The accompanying notes to consolidated financial statements are an integral
part of these statements.
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