Exhibit 99.2
Supplemental Pro Forma Information
| | Fiscal 2009 | | Fiscal 2010 | |
($ in thousands) | | Q1 | | Q2 | | Q3 | | Q4 | | FY | | Q1 | | Q2 | | Q3 | | YTD Q3 | |
| | | | | | | | | | | | | | | | | | | |
REVENUE: | | | | | | | | | | | | | | | | | | | |
Telephonics | | 80,827 | | 96,567 | | 94,126 | | 116,361 | | 387,881 | | 103,619 | | 116,190 | | 100,413 | | 320,222 | |
Home & Building Products | | $ | 204,437 | | $ | 224,133 | | $ | 231,938 | | $ | 198,380 | | $ | 858,888 | | $ | 190,651 | | $ | 225,607 | | $ | 231,797 | | $ | 648,055 | |
Plastics | | 112,689 | | 100,269 | | 94,762 | | 105,035 | | 412,755 | | 102,016 | | 115,583 | | 122,288 | | 339,887 | |
Total consolidated revenue | | $ | 397,953 | | $ | 420,969 | | $ | 420,826 | | $ | 419,776 | | $ | 1,659,524 | | $ | 396,286 | | $ | 457,380 | | $ | 454,498 | | $ | 1,308,164 | |
| | | | | | | | | | | | | | | | | | | |
INCOME BEORE TAXES AND DISCONTINUED OPERATIONS: | | | | | | | | | | | | | | | | | | | |
Segment operating profit: | | | | | | | | | | | | | | | | | | | |
Telephonics | | 5,378 | | 8,252 | | 9,908 | | 11,345 | | 34,883 | | 6,995 | | 10,622 | | 9,783 | | 27,400 | |
Home & Building Products | | $ | 8,901 | | $ | 902 | | $ | 11,222 | | $ | 9,570 | | $ | 30,595 | | $ | 17,768 | | $ | 14,188 | | $ | 21,214 | | $ | 53,170 | |
Plastics | | 5,536 | | 6,578 | | 4,780 | | 7,178 | | 24,072 | | 361 | | 5,086 | | 6,691 | | 12,138 | |
Total Segment operating profit | | 19,815 | | 15,732 | | 25,910 | | 28,093 | | 89,550 | | 25,124 | | 29,896 | | 37,688 | | 92,708 | |
Unallocated amounts | | (3,699 | ) | (4,009 | ) | (5,531 | ) | (4,721 | ) | (17,960 | ) | (5,531 | ) | (6,860 | ) | (7,497 | ) | (19,888 | ) |
Gain (loss) from debt extinguishment, net | | 4,304 | | — | | 184 | | — | | 4,488 | | (18 | ) | 12 | | — | | (6 | ) |
Net interest expense | | (11,850 | ) | (12,120 | ) | (11,165 | ) | (10,565 | ) | (45,700 | ) | (11,445 | ) | (12,074 | ) | (12,216 | ) | (35,735 | ) |
Income before taxes and discontinued operations | | $ | 8,570 | | $ | (397 | ) | $ | 9,398 | | $ | 12,807 | | $ | 30,378 | | $ | 8,130 | | $ | 10,974 | | $ | 17,975 | | $ | 37,079 | |
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DEPRECIATION and AMORTIZATION: | | | | | | | | | | | | | | | | | | | |
Segment: | | | | | | | | | | | | | | | | | | | |
Telephonics | | 1,487 | | 1,543 | | 1,620 | | 2,007 | | 6,657 | | 1,626 | | 1,787 | | 1,985 | | 5,398 | |
Home & Building Products | | $ | 7,251 | | $ | 7,273 | | $ | 7,565 | | $ | 7,210 | | $ | 29,299 | | $ | 6,616 | | $ | 6,605 | | $ | 6,065 | | $ | 19,286 | |
Plastics | | 5,763 | | 5,247 | | 5,239 | | 5,681 | | 21,930 | | 5,613 | | 5,833 | | 5,027 | | 16,473 | |
Total segment | | 14,501 | | 14,063 | | 14,424 | | 14,898 | | 57,886 | | 13,855 | | 14,225 | | 13,077 | | 41,157 | |
Unallocated | | 71 | | 315 | | 88 | | 62 | | 536 | | 82 | | 84 | | 91 | | 257 | |
Total consolidated depreciation and amortization | | $ | 14,572 | | $ | 14,378 | | $ | 14,512 | | $ | 14,960 | | $ | 58,422 | | $ | 13,937 | | $ | 14,309 | | $ | 13,168 | | $ | 41,414 | |
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SEGMENT RESTRUCTURING AND IMPAIRMENTS: | | | | | | | | | | | | | | | | | | | |
Home & Building Products | | $ | 476 | | $ | 323 | | $ | 1,464 | | $ | 3,593 | | $ | 5,856 | | $ | 1,277 | | $ | 1,510 | | $ | 2,951 | | $ | 5,738 | |
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INTEREST EXPENSE, net: | | | | | | | | | | | | | | | | | | | |
Historic | | $ | 3,313 | | $ | 3,583 | | $ | 2,628 | | $ | 2,028 | | $ | 11,552 | | $ | 2,908 | | $ | 3,537 | | $ | 3,679 | | $ | 10,124 | |
Pro forma | | 11,850 | | 12,120 | | 11,165 | | 10,565 | | 45,700 | | 11,445 | | 12,074 | | 12,216 | | 35,735 | |
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PROVISION (BENEFIT) for INCOME TAXES: | | | | | | | | | | | | | | | | | | | |
Historic | | $ | 997 | | $ | (3,277 | ) | $ | 513 | | $ | 3,454 | | $ | 1,687 | | $ | 830 | | $ | (1,175 | ) | $ | 1,965 | | $ | 1,620 | |
Pro forma (assumes 35% Ames tax rate) | | 2,924 | | (1,542 | ) | 1,492 | | 2,584 | | 5,458 | | 1,922 | | 2,365 | | 5,822 | | 10,110 | |
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INCOME FROM CONTINUING OPERATIONS: | | | | | | | | | | | | | | | | | | | |
Historic | | $ | 2,066 | | $ | (2,076 | ) | $ | 6,089 | | $ | 11,839 | | $ | 17,918 | | $ | 4,180 | | $ | 2,034 | | $ | 4,989 | | $ | 11,203 | |
Pro forma | | 5,646 | | 1,145 | | 7,906 | | 10,223 | | 24,920 | | 6,208 | | 8,609 | | 12,153 | | 26,969 | |
| | | | | | | | | | | | | | | | | | | |
DILUTED EARNINGS PER SHARE from CONTINUING OPERATIONS: | | | | | | | | | | | | | | | | | | | |
Historic | | $ | 0.04 | | $ | (0.04 | ) | $ | 0.10 | | $ | 0.20 | | $ | 0.30 | | $ | 0.07 | | $ | 0.03 | | $ | 0.08 | | $ | 0.19 | |
Pro forma | | 0.10 | | 0.02 | | 0.13 | | 0.17 | | 0.42 | | 0.10 | | 0.14 | | 0.20 | | 0.45 | |
* Adjusted for management fee charged to Ames.
Unallocated amounts typically include general corporate expenses not attributable to reportable segments.
Supplemental Pro Forma Information
| | Fiscal 2009 | | Fiscal 2010 | |
($ in thousands) | | Q1 | | Q2 | | Q3 | | Q4 | | FY | | Q1 | | Q2 | | Q3 | | YTD Q3 | |
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TELEPHONICS: | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Segment operating profit | | $ | 5,378 | | $ | 8,252 | | $ | 9,908 | | $ | 11,345 | | $ | 34,883 | | $ | 6,995 | | $ | 10,622 | | $ | 9,783 | | $ | 27,400 | |
Depreciation and amortization | | 1,487 | | 1,543 | | 1,620 | | 2,007 | | 6,657 | | 1,626 | | 1,787 | | 1,985 | | 5,398 | |
| | | | | | | | | | | | | | | | | | | |
Segment profit before depreciation and amortization | | $ | 6,865 | | $ | 9,795 | | $ | 11,528 | | $ | 13,352 | | $ | 41,540 | | $ | 8,621 | | $ | 12,409 | | $ | 11,768 | | $ | 32,798 | |
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HOME & BUILDING PRODUCTS: | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Segment operating profit | | $ | 8,901 | | $ | 902 | | $ | 11,222 | | $ | 9,570 | | $ | 30,595 | | $ | 17,768 | | $ | 14,188 | | $ | 21,214 | | $ | 53,170 | |
Depreciation and amortization | | 7,251 | | 7,273 | | 7,565 | | 7,210 | | 29,299 | | 6,616 | | 6,605 | | 6,065 | | 19,286 | |
Restructuring and impairments | | 476 | | 323 | | 1,464 | | 3,593 | | 5,856 | | 1,277 | | 1,510 | | 2,951 | | 5,738 | |
| | | | | | | | | | | | | | | | | | | |
Segment profit before depreciation, amortization, restructuring and impairments | | $ | 16,628 | | $ | 8,498 | | $ | 20,251 | | $ | 20,373 | | $ | 65,750 | | $ | 25,661 | | $ | 22,303 | | $ | 30,230 | | $ | 78,194 | |
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PLASTICS: | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Segment operating profit | | $ | 5,536 | | $ | 6,578 | | $ | 4,780 | | $ | 7,178 | | $ | 24,072 | | $ | 361 | | $ | 5,086 | | $ | 6,691 | | $ | 12,138 | |
Depreciation and amortization | | 5,763 | | 5,247 | | 5,239 | | 5,681 | | 21,930 | | 5,613 | | 5,833 | | 5,027 | | 16,473 | |
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Segment profit before depreciation and amortization | | $ | 11,299 | | $ | 11,825 | | $ | 10,019 | | $ | 12,859 | | $ | 46,002 | | $ | 5,974 | | $ | 10,919 | | $ | 11,718 | | $ | 28,611 | |
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TOTAL SEGMENTS: | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Segment operating profit | | $ | 19,815 | | $ | 15,732 | | $ | 25,910 | | $ | 28,093 | | $ | 89,550 | | $ | 25,124 | | $ | 29,896 | | $ | 37,688 | | $ | 92,708 | |
Depreciation and amortization | | 14,501 | | 14,063 | | 14,424 | | 14,898 | | 57,886 | | 13,855 | | 14,225 | | 13,077 | | 41,157 | |
Restructuring and impairments | | 476 | | 323 | | 1,464 | | 3,593 | | 5,856 | | 1,277 | | 1,510 | | 2,951 | | 5,738 | |
| | | | | | | | | | | | | | | | | | | |
Segment profit before depreciation, amortization, restructuring and impairments | | $ | 34,792 | | $ | 30,118 | | $ | 41,798 | | $ | 46,584 | | $ | 153,292 | | $ | 40,256 | | $ | 45,631 | | $ | 53,716 | | $ | 139,603 | |
