STANDARD MOTOR PRODUCTS, INC. |
Consolidated
Statements of Operations |
|
(Dollars in
thousands, except per share amounts) |
|
|
|
THREE MONTHS ENDED |
|
NINE MONTHS ENDED |
|
|
SEPTEMBER 30, |
|
SEPTEMBER 30, |
|
|
2004 |
|
2003 |
|
2004 |
|
2003 |
|
|
|
|
|
|
NET SALES |
|
$ 203,487 |
|
$ 214,479 |
|
$ 643,317 |
|
$ 516,329 |
|
|
|
|
|
|
|
|
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|
COST OF SALES |
|
150,945 |
|
156,191 |
|
477,547 |
|
379,682 |
|
|
|
|
|
|
|
|
|
|
GROSS PROFIT |
|
52,542 |
|
58,288 |
|
165,770 |
|
136,647 |
|
|
|
|
|
|
|
|
|
|
SELLING, GENERAL &
ADMINISTRATIVE EXPENSES |
|
43,436 |
|
48,956 |
|
137,438 |
|
113,671 |
|
INTEGRATION COSTS |
|
4,669 |
|
1,926 |
|
8,592 |
|
2,702 |
|
|
|
|
|
|
|
|
|
|
OPERATING INCOME |
|
4,437 |
|
7,406 |
|
19,740 |
|
20,274 |
|
|
|
|
|
|
|
|
|
|
OTHER INCOME (EXPENSE), NET |
|
823 |
|
125 |
|
1,766 |
|
(278) |
|
|
|
|
|
|
|
|
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INTEREST EXPENSE |
|
3,474 |
|
4,070 |
|
10,389 |
|
10,276 |
|
|
|
|
|
|
|
|
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EARNINGS FROM CONTINUING
OPERATIONS BEFORE TAXES |
|
1,786 |
|
3,461 |
|
11,117 |
|
9,720 |
|
|
|
|
|
|
|
|
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|
INCOME TAX EXPENSE |
|
446 |
|
1,419 |
|
2,779 |
|
3,985 |
|
|
|
|
|
|
|
|
|
|
EARNINGS FROM CONTINUING
OPERATIONS |
|
1,340 |
|
2,042 |
|
8,338 |
|
5,735 |
|
|
|
|
|
|
|
|
|
|
LOSS FROM DISCONTINUED
OPERATION, NET OF TAX |
|
(2,016) |
|
(591) |
|
(3,292) |
|
(1,372) |
|
|
|
|
|
|
|
|
|
|
NET EARNINGS (LOSS) |
|
$ (676) |
|
$ 1,451 |
|
$ 5,046 |
|
$ 4,363 |
|
|
|
|
|
|
|
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|
|
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NET EARNINGS PER COMMON SHARE: |
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|
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|
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BASIC EARNINGS FROM CONTINUING OPERATIONS |
|
$ 0.07 |
|
$ 0.11 |
|
$ 0.43 |
|
$ 0.39 |
|
DISCONTINUED OPERATION |
|
(0.10) |
|
(0.03) |
|
(0.17) |
|
(0.09) |
|
NET EARNINGS (LOSS) PER COMMON SHARE - BASIC |
|
$ (0.03) |
|
$ 0.08 |
|
$ 0.26 |
|
$ 0.30 |
|
|
|
|
|
|
|
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DILUTED EARNINGS FROM CONTINUING OPERATIONS |
|
$ 0.07 |
|
$ 0.11 |
|
$ 0.43 |
|
$ 0.39 |
|
DISCONTINUED OPERATION |
|
(0.10) |
|
(0.03) |
|
(0.17) |
|
(0.09) |
|
NET EARNINGS (LOSS) PER COMMON SHARE - DILUTED |
|
$ (0.03) |
|
$ 0.08 |
|
$ 0.26 |
|
$ 0.30 |
|
|
|
|
|
|
|
|
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|
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES |
|
19,356,423 |
|
19,194,121 |
|
19,312,334 |
|
14,580,042 |
|
WEIGHTED
AVERAGE NUMBER OF COMMON SHARES AND DILUTIVE SHARES |
19,460,252 |
|
19,218,855 |
|
19,415,562 |
|
14,634,466 |
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