Financial results
By Furniture Today Staff -- Furniture Today, August 18, 2003
| Earnings per share are fully diluted, and all figures in parentheses are losses or declines. | |||
|---|---|---|---|
| Foamex International | |||
| Quarter ended 6/29 | 2003 | 2002 | Change |
| (a) Includes an $860,000 pretax credit for restructuring, impairment and other credits in both periods and income tax benefits of $911,000 in the 2003 quarter and $2 million in the 2003 six months. (b) Includes income tax benefits of $74.8 million in the 2002 quarter and $74 million in the 2002 six months. The 2002 six months also includes a $1.5 million pretax credit for restructuring, impairment and other credits and a $70.6 million extraordinary charge, the cumulative effect of an accounting change. | |||
| Sales | $334,344,000 | $345,898,000 | (3.3%) |
| Operating income | 20,355,000 | 25,151,000 | (19.1%) |
| Net income | (a)2,656,000 | (b)81,445,000 | (96.7%) |
| Earnings per share | 0.10 | 3.04 | (96.7%) |
| 6 months ended 6/29 | 2003 | 2002 | Change |
| Sales | $662,114,000 | $659,960,000 | 0.3% |
| Operating income | 31,180,000 | 45,146,000 | (30.9%) |
| Net income | (a)(5,401,000) | (b)13,931,000 | — |
| Earnings per share | (0.22) | 0.52 | — |
| Quarter ended 7/25 | 2003 | 2002 | Change |
|---|---|---|---|
| Sales | $598,179,000 | $575,043,000 | 4.0% |
| Operating income | 77,017,000 | 77,273,000 | (0.3%) |
| Net income | 40,114,000 | 38,054,000 | 5.4% |
| Earnings per share | 0.77 | 0.74 | 4.1% |
| 9 months ended 7/25 | 2003 | 2002 | Change |
| Sales | $1,628,920,000 | $1,560,085,000 | 4.4% |
| Operating income | 177,815,000 | 178,730,000 | (0.5%) |
| Net income | 87,889,000 | 85,196,000 | 3.2% |
| Earnings per share | 1.70 | 1.66 | 2.4% |
| Quarter ended 6/28 | 2003 | 2002 | Change |
|---|---|---|---|
| Sales | $32,089,762 | $34,483,011 | (6.9%) |
| Operating income | 1,206,175 | 3,341,358 | (63.9%) |
| Net income | 788,819 | 1,294,291 | (39.1%) |
| Earnings per share | 0.17 | 0.29 | (41.4%) |
| Year ended 6/28 | 2003 | 2002 | Change |
| Sales | $125,398,960 | $131,868,842 | (4.9%) |
| Operating income | 4,091,450 | 8,297,347 | (50.7%) |
| Net income | 2,230,899 | 3,789,046 | (41.1%) |
| Earnings per share | 0.49 | 0.83 | (41.0%) |
| Masco Corp. | |||
|---|---|---|---|
| Owns d-Scan, Mill's Pride and Tvilum-Scanbirk | |||
| Quarter ended 6/30 | 2003 | 2002 | Change |
| (a) Includes a $13.5 million pretax gain on a litigation settlement. (b) Includes a $92.4 million extraordinary charge, the cumulative effect of an accounting change. | |||
| Sales | $2,787,650,000 | $2,314,000,000 | 20.5% |
| Operating income | 389,010,000 | 395,100,000 | (1.5%) |
| Net income | 229,550,000 | 214,300,000 | 7.1% |
| Earnings per share | 0.46 | 0.43 | 7.0% |
| 6 months ended 6/30 | 2003 | 2002 | Change |
| Sales | $5,285,950,000 | $4,414,000,000 | 19.8% |
| Operating income | 703,910,000 | 685,700,000 | 2.7% |
| Net income | (a)395,350,000 | (b)272,100,000 | 45.3% |
| Earnings per share | 0.79 | 0.55 | 43.6% |
