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| Quarterly Financial Appendix 17 ($ in thousands, except for per share data) Quarter Ended 9/30/2010 12/31/2010 3/31/2011 6/30/2011 9/30/2011 12/31/2011 3/31/2012 6/30/2012 Net sales $ 71,931 $ 82,008 $ 73,482 $ 86,656 $ 90,389 $ 91,046 $ 74,650 $ 86,320 Cost of sales 53,994 62,266 54,406 63,353 64,840 67,946 53,427 62,314 Gross profit 17,937 19,742 19,076 23,303 25,549 23,100 21,223 24,006 Gross profit margin 24.9% 24.1% 26.0% 26.9% 28.3% 25.4% 28.4% 27.8% Selling, general and administrative expenses 18,717 16,494 16,673 18,993 18,943 18,990 17,633 19,081 (Gain) loss on sale of assets (732) (85) (25) 7 (5) 69 (2) (12) Other (income) expense (9) 67 177 (72) 284 397 204 99 (Loss) income from operations (39) 3,266 2,251 4,375 6,327 3,644 3,388 4,838 Operating margin (0.1)% 4.0% 3.1% 5.0% 7.0% 4.0% 4.5% 5.6% Interest expense 103 92 78 93 97 102 140 269 Interest income (18) (3) (39) (48) (45) - (24) (27) (Loss) income before income taxes (124) 3,177 2,212 4,330 6,275 3,542 3,272 4,596 Income tax expense 1,074 1,253 831 1,217 2,025 300 829 956 Net (loss) income $ (1,198) $ 1,924 $ 1,381 $ 3,113 $ 4,250 $ 3,242 $ 2,443 $ 3,640 Diluted (loss) earnings per share $ (0.11) $ 0.17 $ 0.12 $ 0.27 $ 0.36 $ 0.28 $ 0.21 $ 0.31 Cash dividends declared per share $ 0.005 $ 0.005 $ 0.005 $ 0.005 $ 0.02 $ 0.02 $ 0.02 $ 0.02 www.hardinge.com |