RBX 8-K Financial statements and exhibits

Exhibit 99.1

Index

Consolidated Financial Statements, November 30, 2002:
Consolidated Balance Sheet	1
Consolidated Statement of Operations	2
Consolidated Statement of Cash Flows	3

RBX CORPORATION

CONSOLIDATED BALANCE SHEET

November 30, 2002

(in thousands)

ASSETS
Cash and cash equivalents	$	1,167
Accounts receivable, less allowance for doubtful accounts of $1,889		25,726
Inventories		16,166
Prepaid and other current assets		2,244
Total current assets		45,303
Property, plant and equipment, net		54,141
Intangible assets		18,058
Other noncurrent assets		5,758
Total assets	$	123,260
LIABILTIES AND STOCKHOLDERS’ EQUITY
Accounts payable	$	11,559
Accrued liabilities		8,462
Current portion of postretirement benefit obligation		2,780
Current portion of long-term debt		2,000
Total current liabilities		24,801
Long-term debt		48,199
Postretirement benefit obligation		23,692
Pension benefit obligation		17,577
Other liabilities		1,704
Total liabilities		115,973
Stockholders’ equity:
Common stock, $0.001 par value, 5,000,000 shares authorized, 1,000,000 issued and outstanding		1
Additional paid-in capital		15,160
Accumulated deficit		(7,874	)
Total stockholders’ equity		7,874
Commitments and contingencies
Total liabilities and stockholders’ equity	$	123,260

1

RBX CORPORATION

CONSOLIDATED STATEMENT OF OPERATIONS

For the eleven months ended November 30, 2002

(in thousands)

Net sales	$	154,767
Cost of goods sold		129,169
Gross profit		25,598
Selling, general and administrative costs		18,030
Reorganization items (income)		1,045
Other (income) expense		966
Operating income (loss)		5,557
Interest expense		4,406
Income (loss) before income taxes		1,151
Income tax expense		220
Net income (loss)	$	931

2

RBX CORPORATION

CONSOLIDATED STATEMENT OF CASH FLOWS

For the eleven months ended November 30, 2002

(in thousands)

OPERATING ACTIVITIES
Net income (loss)	$	931
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation		3,300
Loss on disposal of equipment		966
Increase (decrease) in cash from changes in operating assets and liabilities:
Accounts receivable		(4,357	)
Inventories		1,059
Prepaid and other current assets		(370	)
Accounts payable		2,556
Accrued liabilities		(4,528	)
Other liabilities		(2,324	)
Liabilities subject to compromise		—
Net cash used in operating activities		(2,767	)
INVESTING ACTIVITIES
Capital expenditures		(4,812	)
Proceeds from disposals of property, plant and equipment		801
Increase in restricted cash		(261	)
Net cash used in investing activities		(4,272	)
FINANCING ACTIVITIES
Proceeds from borrowings		167,331
Principal payments on long-term debt		(160,279	)
Net cash provided by financing activities		7,052
Net increase in cash and cash equivalents		13
Cash and cash equivalents:
Beginning of period		1,154
End of period	$	1,167

3