NACCO Industries (NC) 8-K Results of Operations and Financial Condition

EXHIBIT 99

NACCO Industries, Inc. — Consolidated
(in millions, except percentage data)

	Revenues
		Q1	Q2	Q3	Q4	FY
2004		614.2	644.3	668.0	856.1		2,782.6
2005		727.8	778.5

	Operating Profit
		Q1	Q2	Q3	Q4	FY
2004		5.3	14.0	20.8	47.9		88.0
2005		12.2	25.5

	Interest (Income) Expense
		Q1	Q2	Q3	Q4	FY
2004		11.8	11.4	11.0	11.0		45.2
2005		10.4	10.7

	Other (Income) Expense
		Q1		Q2		Q3		Q4		FY
2004		0.2		(1.2	)	(7.2	)	(1.3	)		(9.5	)
2005		(1.4	)	(0.6	)

	Income Before Taxes, Minority Interest, Extraordinary Gain (Loss) and Cumulative Effect of Accounting Changes
		Q1		Q2	Q3	Q4	FY
2004		(6.7	)	3.8	17.0	38.2		52.3
2005		3.2		15.4

	Net Income
		Q1		Q2	Q3	Q4	FY
2004		(4.5	)	6.4	13.4	32.6		47.9
2005		5.2		11.3

	Effective Income Tax Rate
		Q1		Q2		Q3		Q4		FY
2004		28.4	%	-65.8	%	21.8	%	15.7	%		10.1	%
2005		-59.4	%	26.6	%

	Restructuring Expense (Reversal)
		Q1	Q2		Q3		Q4		FY
2004		9.1	(1.1	)	(0.3	)	(0.1	)		7.6
2005		—	(0.5	)

	Restructuring Accrual Balance
		Q1	Q2	Q3	Q4	FY
2004		13.6	9.8	8.2	6.2		6.2
2005		5.4	4.0

	Depreciation, depletion and amortization expense
		Q1	Q2	Q3	Q4	FY
2004		16.1	15.7	15.6	15.5		62.9
2005		16.1	15.2

						��
	Net Working Capital (1)
		Q1	Q2	Q3	Q4	FY
2004		333.3	365.6	450.8	377.7		377.7
2005		407.6	437.4

	Capital Expenditures
		Q1	Q2	Q3	Q4	FY
2004		10.8	15.7	14.6	16.1		57.2
2005		15.1	16.5

	Net cash provided by (used for) operating activities
		Q1		Q2		Q3		Q4	FY
2004		13.1		(11.8	)	(29.2	)	154.1		126.2
2005		(33.7	)	(12.4	)

		Net cash provided by (used for) investing activities
			Q1		Q2		Q3		Q4		FY
2004	��		(6.9	)	(14.3	)	(10.3	)	(8.8	)		(40.3	)
2005			(12.6	)	(10.5	)

NACCO Industries, Inc. — Consolidated
(in millions, except percentage data)

	Cash flow before financing activities (2)
		Q1		Q2		Q3		Q4	FY
2004		6.2		(26.1	)	(39.5	)	145.3		85.9
2005		(46.3	)	(22.9	)

	Net cash provided by (used for) financing activities
		Q1		Q2		Q3	Q4		FY
2004		(22.2	)	21.6		25.5	(29.0	)		(4.1	)
2005		10.7		(6.2	)

	Dividends Paid to Shareholders
		Q1	Q2	Q3	Q4	FY
2004		3.1	3.2	3.7	3.8		13.8
2005		3.7	3.8

	Total Debt
		Q1	Q2	Q3	Q4	FY
2004		416.4	440.9	469.1	449.7		449.7
2005		463.7	460.5

	Equity
		Q1	Q2	Q3	Q4	FY
2004		629.9	630.0	644.1	688.0		688.0
2005		682.1	677.5

	Return on Equity (3)
		Q1		Q2		Q3		Q4		FY
2004		7.3	%	6.7	%	6.8	%	7.4	%		7.4	%
2005		8.8	%	9.4	%

(1)	Net working capital is equal to accounts receivable, net plus inventories less accounts payable.
(2)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(3)	Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.

NACCO Materials Handling Group — Consolidated
(in millions, except percentage data)

	Revenues
		Q1	Q2	Q3	Q4	FY
2004		470.8	495.7	494.5	595.9		2,056.9
2005		583.9	618.1

	Gross Profit
		Q1	Q2	Q3	Q4	FY
2004		74.2	73.0	73.9	87.0		308.1
2005		80.5	91.8

	Operating Expenses
		Q1	Q2	Q3	Q4	FY
2004		65.9	65.8	68.7	72.7		273.1
2005		74.4	74.7

	Operating Profit
		Q1	Q2	Q3	Q4	FY
2004		8.3	7.2	5.2	14.3		35.0
2005		6.1	17.1

	Interest (Income) Expense
		Q1	Q2	Q3	Q4	FY
2004		8.3	8.1	7.7	7.5		31.6
2005		7.4	7.7

	Other (Income) Expense
		Q1		Q2		Q3		Q4		FY
2004		(0.3	)	(1.1	)	(7.4	)	(1.6	)		(10.4	)
2005		(1.6	)	(0.5	)

	Income (Loss) Before Taxes, Minority Interest and Cumulative Effect of Accounting Changes
		Q1	Q2	Q3	Q4	FY
2004		0.3	0.2	4.9	8.4		13.8
2005		0.3	9.9

	Net Income (Loss)
		Q1	Q2	Q3	Q4	FY
2004		0.5	2.5	4.4	7.7		15.1
2005		0.3	7.5

	Effective Income Tax Rate
		Q1		Q2		Q3		Q4		FY
2004		33.3	%	n.m.		12.2	%	7.1	%		-6.5	%
2005		33.3	%	24.2	%

	Restructuring Expense (Reversal)
		Q1	Q2		Q3	Q4		FY
2004		—	(1.0	)	—	(0.4	)		(1.4	)
2005		—	(0.5	)

	Restructuring Accrual Balance
		Q1	Q2	Q3	Q4	FY
2004		7.5	4.9	4.6	4.5		4.5
2005		4.0	2.8

	Depreciation and amortization expense
		Q1	Q2	Q3	Q4	FY
2004		10.7	10.6	10.4	10.2		41.9
2005		10.8	10.1

	Net Working Capital (1)
		Q1	Q2	Q3	Q4	FY
2004		248.6	264.4	322.7	270.3		270.3
2005		305.9	334.5

	Capital Expenditures
		Q1	Q2	Q3	Q4	FY
2004		7.0	11.2	8.8	6.4		33.4
2005		8.6	9.4

	Net cash provided by (used for) operating activities
		Q1		Q2		Q3		Q4	FY
2004		24.3		(12.4	)	(23.2	)	91.3		80.0
2005		(27.5	)	(21.0	)

NACCO Materials Handling Group — Consolidated
(in millions, except percentage data)

	Net cash provided by (used for) investing activities
		Q1		Q2		Q3		Q4	FY
2004		(3.1	)	(10.3	)	(4.9	)	1.0		(17.3	)
2005		(6.1	)	(3.7	)

	Cash flow before financing activities (2)
		Q1		Q2		Q3		Q4	FY
2004		21.2		(22.7	)	(28.1	)	92.3		62.7
2005		(33.6	)	(24.7	)

	Net cash provided by (used for) financing activities
		Q1		Q2	Q3	Q4		FY
2004		(30.8	)	16.5	15.2	(27.2	)		(26.3	)
2005		(2.7	)	36.7

	Dividends to NACCO
		Q1	Q2	Q3	Q4	FY
2004		—	—	—	5.0		5.0
2005		—	—

	Total debt
		Q1	Q2	Q3	Q4	FY
2004		277.2	292.9	307.2	290.5		290.5
2005		286.6	322.2

	Equity
		Q1	Q2	Q3	Q4	FY
2004		425.4	422.1	430.3	446.8		446.8
2005		437.6	432.7

	Return on Equity (3)
		Q1		Q2		Q3		Q4		FY
2004		3.3	%	2.5	%	2.9	%	3.5	%		3.5	%
2005		3.4	%	4.6	%

(1)	Net working capital is equal to accounts receivable, net plus inventories less accounts payable.
(2)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(3)	Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.

NACCO Materials Handling Group — Wholesale
(in millions, except percentage data)

	Backlog
		Q1	Q2	Q3	Q4	FY
2004		24.5	24.7	26.8	25.7		25.7
2005		27.5	23.9

	Unit Shipments
		Q1	Q2	Q3	Q4	FY
2004		17.6	18.8	18.7	22.4		77.5
2005		19.9	22.0

	Revenues — North America
		Q1	Q2	Q3	Q4	FY
2004		264.9	288.7	296.5	351.6		1,201.7
2005		354.3	376.3

	Revenues — Europe
		Q1	Q2	Q3	Q4	FY
2004		128.2	131.7	122.1	162.6		544.6
2005		148.3	159.9

	Revenues — Asia-Pacific
		Q1	Q2	Q3	Q4	FY
2004		28.2	25.1	31.1	31.0		115.4
2005		33.6	38.4

	Revenues — Consolidated
		Q1	Q2	Q3	Q4	FY
2004		421.3	445.5	449.7	545.2		1,861.7
2005		536.2	574.6

	Gross Profit $
		Q1	Q2	Q3	Q4	FY
2004		62.9	61.9	61.9	75.1		261.8
2005		69.5	80.8

	Operating Expenses
		Q1	Q2	Q3	Q4	FY
2004		53.2	53.5	57.2	58.8		222.7
2005		60.6	63.7

	Operating Profit $
		Q1	Q2	Q3	Q4	FY
2004		9.7	8.4	4.7	16.3		39.1
2005		8.9	17.1

	Interest (Income) Expense
		Q1	Q2	Q3	Q4	FY
2004		6.7	6.5	6.1	6.2		25.5
2005		6.2	7.4

	Other (Income) Expense
		Q1		Q2		Q3		Q4		FY
2004		(0.3	)	(1.2	)	(7.4	)	(1.5	)		(10.4	)
2005		(1.6	)	(1.1	)

	Revenues — North America — % change yr. over yr.
		Q1		Q2		Q3		Q4		FY
2004		3.4	%	14.7	%	23.8	%	9.4	%		12.4	%
2005		33.7	%	30.3	%

	Revenues — Europe — % change yr. over yr.
		Q1		Q2		Q3		Q4		FY
2004		24.8	%	18.1	%	19.0	%	25.4	%		22.0	%
2005		15.7	%	21.4	%

	Revenues — Asia Pacific — % change yr. over yr.
		Q1		Q2		Q3		Q4		FY
2004		19.0	%	-3.5	%	23.9	%	14.8	%		13.4	%
2005		19.1	%	53.0	%

	Revenues — Consolidated — % change yr. over yr.
		Q1		Q2		Q3		Q4		FY
2004		10.1	%	14.5	%	22.5	%	14.1	%		15.1	%
2005		27.3	%	29.0	%

	Gross Profit %
		Q1		Q2		Q3		Q4		FY
2004		14.9	%	13.9	%	13.8	%	13.8	%		14.1	%
2005		13.0	%	14.1	%

	Operating Expenses as a % of revenues
		Q1		Q2		Q3		Q4		FY
2004		12.6	%	12.0	%	12.7	%	10.8	%		12.0	%
2005		11.3	%	11.1	%

	Operating Profit %
		Q1		Q2		Q3		Q4		FY
2004		2.3	%	1.9	%	1.0	%	3.0	%		2.1	%
2005		1.7	%	3.0	%

	Income Before Taxes, Minority Interest and Cumulative Effect of Accounting Changes
		Q1	Q2	Q3	Q4	FY
2004		3.3	3.1	6.0	11.6		24.0
2005		4.3	10.8

	Effective Income Tax Rate
		Q1		Q2		Q3		Q4		FY
2004		33.3	%	-38.7	%	16.7	%	10.3	%		8.8	%
2005		37.2	%	17.6	%

NACCO Materials Handling Group — Wholesale
(in millions, except percentage data)

	Net Income
		Q1	Q2	Q3	Q4	FY
2004		2.5	4.4	5.1	10.3		22.3
2005		2.8	8.9

	Restructuring Expense (Reversal)
		Q1	Q2		Q3	Q4		FY
2004		—	(1.0	)	—	(0.1	)		(1.1	)
2005		—	(0.5	)

	Restructuring Accrual Balance
		Q1	Q2	Q3	Q4	FY
2004		6.9	4.4	4.2	4.3		4.3
2005		3.8	2.7

	Depreciation and amortization expense
		Q1	Q2	Q3	Q4	FY
2004		6.7	6.6	6.7	6.3		26.3
2005		6.9	6.8

	Capital Expenditures
		Q1	Q2	Q3	Q4	FY
2004		6.8	8.6	5.4	5.3		26.1
2005		7.6	7.9

NACCO Materials Handling Group — Retail (net of eliminations)
(in millions, except percentage data)

	Revenues — North America
		Q1	Q2	Q3	Q4	FY
2004		—	—	—	—		—
2005		—	—

	Revenues — Europe
		Q1	Q2	Q3	Q4	FY
2004		21.6	21.3	21.2	24.4		88.5
2005		21.2	18.9

	Revenues — Asia Pacific
		Q1	Q2	Q3	Q4	FY
2004		27.9	28.9	23.6	26.3		106.7
2005		26.5	24.6

	Revenues — Consolidated
		Q1	Q2	Q3	Q4	FY
2004		49.5	50.2	44.8	50.7		195.2
2005		47.7	43.5

	Operating Profit (Loss) $
		Q1		Q2		Q3	Q4		FY
2004		(1.4	)	(1.2	)	0.5	(2.0	)		(4.1	)
2005		(2.8	)	—

	Interest (Income) Expense
		Q1	Q2	Q3	Q4	FY
2004		1.6	1.6	1.6	1.3		6.1
2005		1.2	0.3

	Other (Income) Expense
		Q1	Q2	Q3	Q4		FY
2004		—	0.1	—	(0.1	)		—
2005		—	0.6

	Income (Loss) Before Taxes
		Q1		Q2		Q3		Q4		FY
2004		(3.0	)	(2.9	)	(1.1	)	(3.2	)		(10.2	)
2005		(4.0	)	(0.9	)

	Net Income (Loss)
		Q1		Q2		Q3		Q4		FY
2004		(2.0	)	(1.9	)	(0.7	)	(2.6	)		(7.2	)
2005		(2.5	)	(1.4	)

	Revenues — North America — % change yr. over yr.
		Q1	Q2	Q3	Q4	FY
2004		n.m.	n.m.	n.m.	n.m.		n.m.
2005		n.m.	n.m.

	Revenues — Europe — % change yr. over yr.
		Q1		Q2		Q3		Q4		FY
2004		23.4	%	7.0	%	19.1	%	5.6	%		13.0	%
2005		-1.9	%	-11.3	%

	Revenues — Asia Pacific — % change yr. over yr.
		Q1		Q2			Q3		Q4		FY
2004		53.3	%	53.7	%		3.1	%	13.4	%		28.4	%
2005		-5.0	%	-14.9	%	��

	Revenues — Consolidated — % change yr. over yr.
		Q1		Q2		Q3		Q4		FY
2004		36.0	%	28.1	%	10.1	%	9.5	%		20.0	%
2005		-3.6	%	-13.3	%

	Operating Profit (Loss) %
		Q1		Q2		Q3		Q4		FY
2004		-2.8	%	-2.4	%	1.1	%	-3.9	%		-2.1	%
2005		-5.9	%	0.0	%

	Effective Income Tax Rate
		Q1		Q2		Q3		Q4		FY
2004		33.3	%	34.5	%	36.4	%	18.8	%		29.4	%
2005		37.5	%	-55.6	%

	Restructuring Expense (Reversal)
		Q1	Q2	Q3	Q4		FY
2004		—	—	—	(0.3	)		(0.3	)
2005		—	—

	Restructuring Accrual Balance
		Q1	Q2	Q3	Q4	FY
2004		0.6	0.5	0.4	0.2		0.2
2005		0.2	0.1

Housewares — Consolidated *
(in millions, except percentage data)

	Revenues
		Q1	Q2	Q3	Q4	FY
2004		117.5	121.5	143.7	232.1		614.8
2005		114.8	132.4

	Gross Profit
		Q1	Q2	Q3	Q4	FY
2004		25.1	28.3	33.8	63.4		150.6
2005		25.5	30.1

	Operating Expenses
		Q1	Q2	Q3	Q4	FY
2004		34.5	26.0	25.4	32.8		118.7
2005		26.2	26.6

	Operating Profit
		Q1		Q2	Q3	Q4	FY
2004		(9.4	)	2.3	8.4	30.6		31.9
2005		(0.7	)	3.5

	Interest (Income) Expense
		Q1	Q2	Q3	Q4	FY
2004		1.8	1.5	1.5	1.7		6.5
2005		1.3	1.4

	Other (Income) Expense
		Q1		Q2		Q3		Q4	FY
2004		—		(0.4	)	(0.2	)	0.6		—
2005		(0.2	)	(0.5	)

	Income Before Taxes
		Q1		Q2	Q3	Q4	FY
2004		(11.2	)	1.2	7.1	28.3		25.4
2005		(1.8	)	2.6

	Net Income
		Q1		Q2	Q3	Q4	FY
2004		(6.5	)	1.3	4.4	18.0		17.2
2005		(1.1	)	1.6

	Effective Income Tax Rate
		Q1		Q2		Q3		Q4		FY
2004		42.0	%	n.m.		38.0	%	36.4	%		32.3	%
2005		38.9	%	38.5	%

	Restructuring Expense (Reversal)
		Q1	Q2		Q3		Q4	FY
2004		9.1	(0.1	)	(0.3	)	0.7		9.4
2005		—	—

	Restructuring Accrual Balance
		Q1	Q2	Q3	Q4	FY
2004		6.1	4.9	3.6	1.7		1.7
2005		1.4	1.2

	Depreciation and amortization expense
		Q1	Q2	Q3	Q4	FY
2004		2.5	2.2	2.1	2.1		8.9
2005		1.9	1.7

	Net Working Capital (1)
		Q1	Q2	Q3	Q4	FY
2004		90.2	100.8	128.8	119.9		119.9
2005		108.5	108.1

Housewares — Consolidated *
(in millions, except percentage data)

	Capital Expenditures
		Q1	Q2	Q3	Q4	FY
2004		2.6	2.6	1.5	1.5		8.2
2005		1.2	1.3

	Net cash provided by (used for) operating activities
		Q1		Q2		Q3		Q4	FY
2004		(3.4	)	(9.0	)	(16.5	)	46.0		17.1
2005		(2.4	)	3.8

	Net cash provided by (used for) investing activities
		Q1		Q2		Q3		Q4		FY
2004		(2.6	)	(2.5	)	(1.1	)	(1.5	)		(7.7	)
2005		(1.2	)	(0.9	)

	Cash flow before financing activities (2)
		Q1		Q2		Q3		Q4	FY
2004		(6.0	)	(11.5	)	(17.6	)	44.5		9.4
2005		(3.6	)	2.9

	Net cash provided by (used for) financing activities
		Q1	Q2		Q3	Q4		FY
2004		3.9	13.3		16.4	(44.3	)		(10.7	)
2005		3.2	(2.5	)

	Dividends to NACCO
		Q1	Q2	Q3	Q4	FY
2004		1.0	5.0	20.0	5.0		31.0
2005		5.0	5.0

	Total debt
		Q1	Q2	Q3	Q4	FY
2004		40.0	58.7	95.0	55.7		55.7
2005		63.9	66.6

	Equity
		Q1	Q2	Q3	Q4	FY
2004		148.6	151.3	135.8	149.4		149.4
2005		144.1	140.6

	Return on Equity (3)
		Q1		Q2		Q3		Q4		FY
2004		10.7	%	10.5	%	10.2	%	11.5	%		11.5	%
2005		15.5	%	15.9	%

*	Housewares Consolidated includes Hamilton Beach/Proctor-Silex, Kitchen Collection and the related intercompany eliminations.
(1)	Net working capital is equal to accounts receivable, net plus inventories less accounts payable.
(2)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(3)	Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.

Hamilton Beach/Proctor-Silex, Inc.
(in millions, except percentage data)

	Revenues
		Q1	Q2	Q3	Q4	FY
2004		96.6	101.1	118.7	190.9		507.3
2005		94.6	111.3

	Gross Profit $
		Q1	Q2	Q3	Q4	FY
2004		15.8	18.9	22.6	44.9		102.2
2005		16.4	20.7

	Operating Expenses
		Q1	Q2	Q3	Q4	FY
2004		24.4	15.4	14.4	19.8		74.0
2005		15.3	15.4

	Operating Profit $
		Q1		Q2	Q3	Q4	FY
2004		(8.6	)	3.5	8.2	25.1		28.2
2005		1.1		5.3

	Interest (Income) Expense
		Q1	Q2	Q3	Q4	FY
2004		1.7	1.5	1.3	1.6		6.1
2005		1.2	1.3

	Other (Income) Expense
		Q1		Q2		Q3		Q4	FY
2004		(0.1	)	(0.3	)	(0.2	)	0.6		—
2005		(0.2	)	(0.5	)

	Income (Loss) Before Taxes
		Q1		Q2	Q3	Q4	FY
2004		(10.2	)	2.3	7.1	22.9		22.1
2005		0.1		4.5

	Net Income (Loss)
		Q1		Q2	Q3	Q4	FY
2004		(5.9	)	1.9	4.4	14.8		15.2
2005		0.1		2.8

	Revenues % Change Year Over Year
		Q1		Q2		Q3		Q4		FY
2004		0.9	%	3.6	%	-5.9	%	10.2	%		2.9	%
	��
2005		-2.1	%	10.1	%

	Gross Profit %
		Q1		Q2		Q3		Q4		FY
2004		16.4	%	18.7	%	19.0	%	23.5	%		20.1	%
2005		17.3	%	18.6	%

	Operating Expenses as a % of revenues
		Q1		Q2		Q3		Q4		FY
2004		25.3	%	15.2	%	12.1	%	10.4	%		14.6	%
2005		16.2	%	13.8	%

	Operating Profit %
		Q1		Q2		Q3		Q4		FY
2004		-8.9	%	3.5	%	6.9	%	13.1	%		5.6	%
2005		1.2	%	4.8	%

	Effective Income Tax Rate
		Q1		Q2		Q3		Q4		FY
2004		42.2	%	17.4	%	38.0	%	28.0	%		31.2	%
2005		n.m.		37.8	%

	Restructuring Expense (Reversal)
		Q1	Q2		Q3		Q4	FY
2004		9.1	(0.1	)	(0.3	)	0.7		9.4
2005		—	—

	Restructuring Accrual Balance
		Q1	Q2	Q3	Q4	FY
2004		6.1	4.9	3.6	1.7		1.7
2005		1.4	1.2

	Depreciation and amortization expense
		Q1	Q2	Q3	Q4	FY
2004		2.2	1.8	1.8	1.7		7.5
2005		1.5	1.2

	Net Working Capital (1)
		Q1	Q2	Q3	Q4	FY
2004		78.2	87.6	113.4	110.6		110.6
2005		94.3	93.6

	Capital Expenditures
		Q1	Q2	Q3	Q4	FY
2004		2.3	1.3	1.3	1.1		6.0
2005		1.0	0.9

Hamilton Beach/Proctor-Silex, Inc.
(in millions, except percentage data)

	Net cash provided by (used for) operating activities
		Q1	Q2		Q3		Q4	FY
2004		6.2	(7.3	)	(14.2	)	33.0		17.7
2005		6.0	5.4

	Net cash provided by (used for) investing activities
		Q1		Q2		Q3		Q4		FY
2004		(2.3	)	(1.2	)	(0.9	)	(1.1	)		(5.5	)
2005		(1.0	)	(0.5	)

	Cash flow before financing activities (2)
		Q1	Q2		Q3		Q4	FY
2004		3.9	(8.5	)	(15.1	)	31.9		12.2
2005		5.0	4.9

	Net cash provided by (used for) financing activities
		Q1		Q2		Q3	Q4		FY
2004		(5.4	)	10.3		13.9	(32.0	)		(13.2	)
2005		(5.0	)	(4.5	)

	Dividends to NACCO
		Q1	Q2	Q3	Q4	FY
2004		1.0	5.0	20.0	5.0		31.0
2005		5.0	5.0

	Total debt
		Q1	Q2	Q3	Q4	FY
2004		30.6	46.3	80.2	53.2		53.2
2005		53.2	53.9

	Equity
		Q1	Q2	Q3	Q4	FY
2004		139.0	142.4	126.7	137.1		137.1
2005		133.0	130.7

	Return on Equity (3)
		Q1		Q2		Q3		Q4		FY
2004		9.3	%	9.3	%	9.1	%	10.9	%		10.9	%
2005		15.6	%	16.5	%

(1)	Net working capital is equal to accounts receivable, net plus inventories less accounts payable.
(2)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(3)	Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.

The Kitchen Collection, Inc.
(in millions, except percentage and number of stores)

	Number of stores
		Q1	Q2	Q3	Q4	FY
2004		183	185	187	188		188
2005		186	191

	Revenues
		Q1	Q2	Q3	Q4	FY
2004		21.7	21.4	26.0	43.2		112.3
2005		21.3	22.1

	Average sales per store
		Q1	Q2	Q3	Q4	FY
2004		0.1	0.1	0.1	0.2		0.5
2005		0.1	0.1

	Gross Profit $
		Q1	Q2	Q3	Q4	FY
2004		9.3	9.4	11.2	18.5		48.4
2005		9.1	9.4

	Operating Expenses
		Q1	Q2	Q3	Q4	FY
2004		10.1	10.6	11.0	13.0		44.7
2005		10.9	11.2

	Operating Profit $
		Q1		Q2		Q3	Q4	FY
2004		(0.8	)	(1.2	)	0.2	5.5		3.7
2005		(1.8	)	(1.8	)

	Gross Profit %
		Q1		Q2		Q3		Q4		FY
2004		42.9	%	43.9	%	43.1	%	42.8	%		43.1	%
2005		42.7	%	42.5	%

	Operating Expenses as a % of revenues
		Q1		Q2		Q3		Q4		FY
2004		46.5	%	49.5	%	42.3	%	30.1	%		39.8	%
2005		51.2	%	50.7	%

	Operating Profit %
		Q1		Q2		Q3		Q4		FY
2004		-3.7	%	-5.6	%	0.8	%	12.7	%		3.3	%
2005		-8.5	%	-8.1	%

	Interest (Income) Expense
		Q1	Q2	Q3	Q4	FY
2004		0.1	—	0.2	0.1		0.4
2005		0.1	0.1

	Other (Income) Expense
		Q1	Q2		Q3	Q4	FY
2004		0.1	(0.1	)	—	—		—
2005		—	—

	Income Before Taxes
		Q1		Q2		Q3	Q4	FY
2004		(1.0	)	(1.1	)	—	5.4		3.3
2005		(1.9	)	(1.9	)

	Net Income
		Q1		Q2		Q3	Q4	FY
2004		(0.6	)	(0.6	)	—	3.2		2.0
2005		(1.2	)	(1.1	)

	Effective Income Tax Rate
		Q1		Q2		Q3	Q4		FY
2004		40.0	%	44.5	%	n.m.	39.4	%		39.4	%
2005		36.8	%	42.1	%

	Restructuring Expense
		Q1	Q2	Q3	Q4	FY
2004		—	—	—	—		—
2005		—	—

	Restructuring Accrual Balance
		Q1	Q2	Q3	Q4	FY
2004		—	—	—	—		—
2005		—	—

	Depreciation and amortization expense
		Q1	Q2	Q3	Q4	FY
2004		0.3	0.4	0.3	0.4		1.4
2005		0.4	0.5

	Net Working Capital (1)
		Q1	Q2	Q3	Q4	FY
2004		12.5	13.5	15.7	9.7		9.7
2005		14.4	14.8

	Capital Expenditures
		Q1	Q2	Q3	Q4	FY
2004		0.3	1.3	0.2	0.4		2.2
2005		0.2	0.4

The Kitchen Collection, Inc.
(in millions, except percentage and number of stores)

	Net cash provided by (used for) operating activities
		Q1		Q2		Q3		Q4	FY
2004		(9.6	)	(1.7	)	(2.3	)	13.0		(0.6	)
2005		(8.4	)	(1.6	)

	Net cash provided by (used for) investing activities
		Q1		Q2		Q3		Q4		FY
2004		(0.3	)	(1.3	)	(0.2	)	(0.4	)		(2.2	)
2005		(0.2	)	(0.4	)

	Cash flow before financing activities (2)
		Q1		Q2		Q3		Q4	FY
2004		(9.9	)	(3.0	)	(2.5	)	12.6		(2.8	)
2005		(8.6	)	(2.0	)

	Net cash provided by (used for) financing activities
		Q1	Q2	Q3	Q4		FY
2004		9.3	3.0	2.5	(12.3	)		2.5
2005		8.2	2.0

	Dividends to NACCO
		Q1	Q2	Q3	Q4	FY
2004		—	—	—	—		—
2005		—	—

	Total debt
		Q1	Q2	Q3	Q4	FY
2004		9.3	12.4	14.8	2.5		2.5
2005		10.7	12.7

	Equity
		Q1	Q2	Q3	Q4	FY
2004		10.0	9.2	9.3	12.5		12.5
2005		11.3	10.2

	Return on Equity (3)
		Q1		Q2		Q3		Q4		FY
2004		31.9	%	29.7	%	26.2	%	19.4	%		19.4	%
2005		13.4	%	8.6	%

(1)	Net working capital is equal to accounts receivable, net plus inventories less accounts payable.
(2)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(3)	Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.

The North American Coal Corporation
(in millions, except percentage data)

	Lignite tons delivered — Project mines
		Q1	Q2	Q3	Q4	FY
2004		7.2	5.8	7.2	6.9		27.1
2005		6.7	6.0

	Lignite tons delivered — Non-project mines
		Q1	Q2	Q3	Q4	FY
2004		1.8	1.6	2.0	1.9		7.3
2005		1.8	1.8

	Limerock yards delivered
		Q1	Q2	Q3	Q4	FY
2004		4.2	5.1	4.5	5.1		18.9
2005		5.2	4.9

	Revenues
		Q1	Q2	Q3	Q4	FY
2004		25.9	27.0	29.8	28.1		110.8
2005		29.1	28.0

	Gross Profit $
		Q1	Q2	Q3	Q4	FY
2004		5.1	5.0	4.5	4.4		19.0
2005		4.6	2.9

	Gross Profit %
		Q1		Q2		Q3		Q4		FY
2004		19.7	%	18.5	%	15.1	%	15.7	%		17.1	%
2005		15.8	%	10.4	%

	Earnings of unconsolidated project mining subsidiaries
		Q1	Q2	Q3	Q4	FY
2004		8.5	7.2	8.4	7.4		31.5
2005		8.4	7.7

	Operating Expenses
		Q1	Q2	Q3	Q4	FY
2004		4.8	5.2	5.1	5.1		20.2
2005		5.9	5.2

	Operating Profit $
		Q1	Q2	Q3	Q4	FY
2004		8.8	7.0	7.8	6.7		30.3
2005		7.1	5.4

	Operating Expenses as a % of the sum of Gross Profit plus Earnings of unconsolidated project mining subsidiaries
		Q1		Q2		Q3		Q4		FY
2004		35.3	%	42.6	%	39.5	%	43.2	%		40.0	%
2005		45.4	%	49.1	%

	Operating Profit as a % of the sum of Gross Profit plus Earnings of unconsolidated project mining subsidiaries
		Q1		Q2		Q3		Q4		FY
2004		64.7	%	57.4	%	60.5	%	56.8	%		60.0	%
2005		54.6	%	50.9	%

	Interest (Income) Expense
		Q1	Q2	Q3	Q4	FY
2004		1.9	1.9	1.9	2.0		7.7
2005		2.4	2.1

		Other (Income) Expense
			Q1	Q2	Q3	Q4	FY
2004			—	—	—	—		—
2005	��		—	—

	Income Before Taxes and Cumulative Effect of Accounting Changes
		Q1	Q2	Q3	Q4	FY
2004		6.9	5.1	5.9	4.7		22.6
2005		4.7	3.3

	Net Income
		Q1	Q2	Q3	Q4	FY
2004		5.8	3.7	5.2	3.9		18.6
2005		4.3	3.2

	Effective Income Tax Rate
		Q1		Q2		Q3		Q4		FY
2004		15.9	%	27.5	%	11.9	%	17.0	%		17.7	%
2005		8.5	%	3.0	%

The North American Coal Corporation
(in millions, except percentage data)

	Depreciation, depletion and amortization expense
		Q1	Q2	Q3	Q4	FY
2004		2.9	2.9	3.0	3.1		11.9
2005		3.4	3.3

	Capital Expenditures
		Q1	Q2	Q3	Q4	FY
2004		1.2	1.9	4.2	8.2		15.5
2005		5.3	5.8

	Net cash provided by (used for) operating activities
		Q1	Q2		Q3	Q4	FY
2004		12.0	5.1		8.6	15.4		41.1
2005		8.3	(0.9	)

	Net cash provided by (used for) investing activities
		Q1		Q2		Q3		Q4		FY
2004		(1.2	)	(1.5	)	(4.3	)	(8.3	)		(15.3	)
2005		(5.3	)	(5.8	)

	Cash flow before financing activities (1)
		Q1	Q2		Q3	Q4	FY
2004		10.8	3.6		4.3	7.1		25.8
2005		3.0	(6.7	)

	Net cash provided by (used for) financing activities
		Q1		Q2		Q3		Q4		FY
2004		(10.6	)	(3.8	)	(4.1	)	(7.2	)		(25.7	)
2005		(2.7	)	6.5

	Dividends to NACCO
		Q1	Q2	Q3	Q4	FY
2004		3.7	2.1	1.0	1.8		8.6
2005		2.2	3.0

	Total debt
		Q1	Q2	Q3	Q4	FY
2004		121.7	120.2	117.0	111.9		111.9
2005		115.7	121.7

	Equity
		Q1	Q2	Q3	Q4	FY
2004		71.3	75.3	79.2	81.4		81.4
2005		83.2	86.3

	Return on Equity (2)
		Q1		Q2		Q3		Q4		FY
2004		25.0	%	25.0	%	26.0	%	24.8	%		24.8	%
2005		21.9	%	20.5	%

(1)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(2)	Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.

NACCO and Other
(in millions, except percentage data)

	Operating Profit (Loss)
		Q1		Q2		Q3		Q4		FY
2004		(2.4	)	(2.5	)	(0.6	)	(3.7	)		(9.2	)
2005		(0.3	)	(0.5	)

	Interest (Income) Expense
		Q1		Q2		Q3		Q4		FY
2004		(0.2	)	(0.1	)	(0.1	)	(0.2	)		(0.6	)
2005		(0.7	)	(0.5	)

	Other (Income) Expense
		Q1	Q2	Q3	Q4		FY
2004		0.5	0.3	0.4	(0.3	)		0.9
2005		0.4	0.4

	Income (Loss) Before Taxes, Extraordinary Gain (Loss) and Cumulative Effect of Accounting Changes
		Q1		Q2		Q3		Q4		FY
2004		(2.7	)	(2.7	)	(0.9	)	(3.2	)		(9.5	)
2005		—		(0.4	)

	Extraordinary Gain (Loss)
		Q1	Q2	Q3	Q4	FY
2004		—	—	—	0.5		0.5
2005		—	—

	Net Income (Loss)
		Q1		Q2		Q3		Q4	FY
2004		(4.3	)	(1.1	)	(0.6	)	3.0		(3.0	)
2005		1.7		(1.0	)