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
2006		770.4	796.9	803.1	978.6	3,349.0
2007		803.9

	Operating Profit
		Q1	Q2	Q3	Q4	FY
2006		25.1	33.8	31.6	82.1	172.6
2007		15.0

	Interest (Income) Expense
		Q1	Q2	Q3	Q4	FY
2006		9.9	9.0	7.7	7.7	34.3
2007		5.9

	Other (Income) Expense
		Q1	Q2	Q3		Q4	FY
2006		—	17.8	(2.4	)	2.4	17.8
2007		0.4

	Income Before Taxes, Minority Interest, Extraordinary
	Gain (Loss) and
	Cumulative Effect of Accounting Changes
		Q1	Q2	Q3	Q4	FY
2006		15.2	7.0	26.3	72.0	120.5
2007		8.7

	Effective Income Tax Rate
		Q1		Q2		Q3		Q4		FY
2006		19.7	%	34.3	%	28.5	%	20.7	%	23.1	%
2007		25.3	%

	Net Income
		Q1	Q2	Q3	Q4	FY
2006		12.7	4.7	18.8	70.0	106.2
2007		6.6

	Restructuring Expense (Reversal)
		Q1		Q2	Q3	Q4	FY
2006		(0.2	)	—	—	1.0	0.8
2007		2.4

	Restructuring Accrual Balance
		Q1	Q2	Q3	Q4	FY
2006		4.0	3.8	2.7	2.6	2.6
2007		2.7

	Depreciation, depletion and
	amortization expense
		Q1	Q2	Q3	Q4	FY
2006		14.8	15.1	16.0	16.8	62.7
2007		15.0

	Net Working Capital (1)
		Q1	Q2	Q3	Q4	FY
2006		426.3	445.4	503.7	454.3	454.3
2007		502.0

	Capital Expenditures
		Q1	Q2	Q3	Q4	FY
2006		18.6	13.3	12.8	29.9	74.6
2007		18.2

	Net cash provided by (used for) operating activities
		Q1		Q2	Q3	Q4	FY
2006		(13.0	)	30.3	12.0	144.2	173.5
2007		(68.9	)

	Net cash provided by (used for) investing activities
		Q1		Q2	Q3		Q4	FY
2006		(13.2	)	0.3	(23.8	)	1.4	(35.3	)
2007		(17.2	)

1

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

	Cash flow before financing activities (2)
	Q1			Q2		Q3			Q4		FY
2006		(26.2	)		30.6		(11.8	)		145.6		138.2
2007		(86.1	)

	Net cash provided by (used for) financing activities
	Q1			Q2			Q3		Q4			FY
2006		(11.5	)		(44.4	)		4.6		(54.5	)		(105.8	)
2007		7.1

	Dividends Paid to Shareholders
	Q1		Q2		Q3		Q4		FY
2006		3.8		4.0		3.9		4.0		15.7
2007		4.0

	Total debt
	Q1		Q2		Q3		Q4		FY
2006		468.6		448.1		458.6		416.5		416.5
2007		431.9

	Equity
	Q1		Q2		Q3		Q4		FY
2006		692.8		705.5		719.7		793.1		793.1
2007		791.4

	Return on Equity (3)
	Q1			Q2			Q3			Q4			FY
2006		10.2	%		9.1	%		9.8	%		14.7	%		14.7	%
2007		13.5	%

(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.

2

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

	Revenues
		Q1			Q2			Q3			Q4			FY
2006			618.8			622.0			595.4			652.3			2,488.5
2007			633.2
	Gross Profit
		Q1			Q2			Q3			Q4			FY
2006			89.3			86.2			85.2			86.7			347.4
2007			91.1
	Operating Expenses
		Q1			Q2			Q3			Q4			FY
2006			68.8			70.7			70.4			70.0			279.9
2007			80.9
	Operating Profit
		Q1			Q2			Q3			Q4			FY
2006			20.5			15.5			14.8			16.7			67.5
2007			10.2
	Interest (Income) Expense
		Q1			Q2			Q3			Q4			FY
2006			7.7			6.9			5.6			5.4			25.6
2007			4.7
	Other (Income) Expense
		Q1			Q2			Q3			Q4			FY
2006			(0.9	)		16.3			(2.9	)		(2.3	)		10.2
2007			(1.2	)
	Income (Loss) Before Taxes, Minority Interest and
	Cumulative Effect of Accounting Changes
		Q1			Q2			Q3			Q4			FY
2006			13.7			(7.7	)		12.1			13.6			31.7
2007			6.7
	Net Income (Loss)
		Q1			Q2			Q3			Q4			FY
2006			11.4			(5.4	)		10.5			18.1			34.6
2007			5.3

	Effective Income Tax Rate
		Q1			Q2			Q3			Q4			FY
2006			20.4	%		28.6	%		13.2	%		-32.4	%		-6.9	%
2007			22.4	%

	Restructuring Expense (Reversal)
		Q1			Q2		Q3		Q4			FY
2006			(0.4	)		—		—		(0.4	)		(0.8	)
2007			2.5

	Restructuring Accrual Balance
		Q1		Q2		Q3		Q4		FY
2006			1.4		1.4		1.4		—		—
2007			0.9

	Depreciation and amortization expense
		Q1			Q2		Q3		Q4		FY
2006			9.7			10.2		10.6		11.2		41.7
2007			10.2
	Net Working Capital (1)
		Q1			Q2		Q3		Q4		FY
2006			325.4			316.0		337.8		300.7		300.7
2007			354.7
	Capital Expenditures
		Q1			Q2		Q3		Q4		FY
2006			8.4			11.1		9.8		12.8		42.1
2007			8.3
	Net cash provided by (used for) operating activities
		Q1			Q2		Q3		Q4		FY
2006			(17.7	)		10.3		15.8		76.4		84.8
2007			(38.0	)

3

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

	Net cash provided by (used for) investing activities
		Q1			Q2			Q3			Q4			FY
2006			(3.0	)		(9.2	)		(6.6	)		(11.8	)		(30.6	)
2007			(7.5	)
	Cash flow before financing activities (2)
		Q1			Q2			Q3			Q4			FY
2006			(20.7	)		1.1			9.2			64.6			54.2
2007			(45.5	)
	Net cash provided by (used for) financing activities
		Q1			Q2			Q3			Q4			FY
2006			0.7			(44.3	)		0.5			(27.2	)		(70.3	)
2007			(6.5	)
	Dividends to NACCO
		Q1			Q2			Q3			Q4			FY
2006			—			—			—			5.0			5.0
2007			—

	Total debt
		Q1		Q2		Q3		Q4		FY
2006			351.2		326.8		329.1		312.4		312.4
2007			310.1
	Equity
		Q1		Q2		Q3		Q4		FY
2006			445.3		450.4		460.0		476.7		476.7
2007			481.0

	Return on Equity (3)
		Q1			Q2			Q3			Q4			FY
2006			6.7	%		3.7	%		5.0	%		7.7	%		7.7	%
2007			6.2	%

(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.

4

NACCO Materials Handling Group — Wholesale
(in millions, except backlog, unit shipments and percentage data)

	Backlog (in thousands)
		Q1			Q2			Q3			Q4			FY
2006			23.6			25.9			25.7			27.2			27.2
2007			30.0
	Unit Shipments (in thousands)
		Q1			Q2			Q3			Q4			FY
2006			21.7			22.2			20.8			23.1			87.8
2007			21.5
	Revenues - North America
		Q1			Q2			Q3			Q4			FY
2006			415.5			392.6			373.9			381.2			1,563.2
2007			371.2
	Revenues - Europe
		Q1			Q2			Q3			Q4			FY
2006			131.2			150.6			143.7			193.6			619.1
2007			181.2
	Revenues - Asia-Pacific
		Q1			Q2			Q3			Q4			FY
2006			26.1			38.2			32.9			38.4			135.6
2007			38.3
	Revenues - Consolidated
		Q1			Q2			Q3			Q4			FY
2006			572.8			581.4			550.5			613.2			2,317.9
2007			590.7
	Gross Profit $
		Q1			Q2			Q3			Q4			FY
2006			78.6			77.5			75.0			79.3			310.4
2007			81.7
	Operating Expenses
		Q1			Q2			Q3			Q4			FY
2006			59.9			57.9			57.6			58.5			233.9
2007			67.7
	Operating Profit $
		Q1			Q2			Q3			Q4			FY
2006			18.7			19.6			17.4			20.8			76.5
2007			14.0
	Interest (Income) Expense
		Q1			Q2			Q3			Q4			FY
2006			6.8			5.8			4.7			4.4			21.7
2007			3.7
	Other (Income) Expense
		Q1			Q2			Q3			Q4			FY
2006			(1.0	)		16.3			(3.0	)		(2.3	)		10.0
2007			(1.2	)
	Income Before Taxes, Minority Interest and
	Cumulative Effect of Accounting Changes
		Q1			Q2			Q3			Q4			FY
2006			12.9			(2.5	)		15.7			18.7			44.8
2007			11.5

	Revenues - North America - % change yr. over yr.
		Q1			Q2			Q3			Q4			FY
2006			17.3	%		4.3	%		1.2	%		-1.8	%		5.0	%
2007			-10.7	%
	Revenues - Europe - % change yr. over yr.
		Q1			Q2			Q3			Q4			FY
2006			-11.5	%		-5.8	%		28.4	%		23.2	%		7.2	%
2007			38.1	%
	Revenues - Asia-Pacific - % change yr. over yr.
		Q1			Q2			Q3			Q4			FY
2006			-22.3	%		-0.5	%		-6.3	%		-6.8	%		-8.6	%
2007			46.7	%
	Revenues - Consolidated - % change yr. over yr.
		Q1			Q2			Q3			Q4			FY
2006			6.8	%		1.2	%		6.6	%		4.5	%		4.7	%
2007			3.1	%
	Gross Profit %
		Q1			Q2			Q3			Q4			FY
2006			13.7	%		13.3	%		13.6	%		12.9	%		13.4	%
2007			13.8	%
	Operating Expenses as a % of revenues
		Q1			Q2			Q3			Q4			FY
2006			10.5	%		10.0	%		10.5	%		9.5	%		10.1	%
2007			11.5	%
	Operating Profit %
		Q1			Q2			Q3			Q4			FY
2006			3.3	%		3.4	%		3.2	%		3.4	%		3.3	%
2007			2.4	%

	Effective Income Tax Rate
		Q1			Q2			Q3			Q4			FY
2006			37.2	%		17.6	%		9.5	%		27.1	%		22.0	%
2007			22.6	%

5

NACCO Materials Handling Group — Wholesale
(in millions, except backlog, unit shipments and percentage data)

	Net Income
		Q1		Q2			Q3		Q4		FY
2006			10.0		(2.0	)		13.3		22.4		43.7
2007			9.0

	Restructuring Expense (Reversal)
		Q1			Q2		Q3		Q4			FY
2006			(0.4	)		—		—		(0.4	)		(0.8	)
2007			2.5
	Restructuring Accrual Balance
		Q1			Q2		Q3		Q4			FY
2006			1.4			1.4		1.4		—			—
2007			0.9

	Depreciation and amortization expense
		Q1		Q2		Q3		Q4		FY
2006			7.3		7.5		7.9		8.2		30.9
2007			7.7
	Capital Expenditures
		Q1		Q2		Q3		Q4		FY
2006			6.3		8.4		6.4		11.2		32.3
2007			6.1

6

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

	Revenues - Europe
		Q1			Q2			Q3			Q4			FY
2006			17.3			17.0			14.6			11.7			60.6
2007			13.7
	Revenues - Asia Pacific
		Q1			Q2			Q3			Q4			FY
2006			28.7			23.6			30.3			27.4			110.0
2007			28.8
	Revenues - Consolidated
		Q1			Q2			Q3			Q4			FY
2006			46.0			40.6			44.9			39.1			170.6
2007			42.5
	Operating Profit (Loss) $
		Q1			Q2			Q3			Q4			FY
2006			1.8			(4.1	)		(2.6	)		(4.1	)		(9.0	)
2007			(3.8	)
	Interest (Income) Expense
		Q1			Q2			Q3			Q4			FY
2006			0.9			1.1			0.9			1.0			3.9
2007			1.0
	Other (Income) Expense
		Q1			Q2			Q3			Q4			FY
2006			0.1			—			0.1			—			0.2
2007			—
	Income (Loss) Before Taxes
		Q1			Q2			Q3			Q4			FY
2006			0.8			(5.2	)		(3.6	)		(5.1	)		(13.1	)
2007			(4.8	)
	Net Income (Loss)
		Q1			Q2			Q3			Q4			FY
2006			1.4			(3.4	)		(2.8	)		(4.3	)		(9.1	)
2007			(3.7	)

	Revenues - Europe - % change yr. over yr.
		Q1			Q2			Q3			Q4			FY
2006			-18.4	%		-10.1	%		-17.0	%		-33.1	%		-19.4	%
2007			-20.8	%
	Revenues - Asia Pacific - %change yr. over yr.
		Q1			Q2			Q3			Q4			FY
2006			8.3	%		-4.1	%		3.4	%		-9.3	%		-0.5	%
2007			0.3	%
	Revenues - Consolidated - % change yr. over yr.
		Q1			Q2			Q3			Q4			FY
2006			-3.6	%		-6.7	%		-4.3	%		-18.0	%		-8.2	%
2007			-7.6	%
	Operating Profit (Loss) %
		Q1			Q2			Q3			Q4			FY
2006			3.9	%		-10.1	%		-5.8	%		-10.5	%		-5.3	%
2007			-8.9	%

	Effective Income Tax Rate
		Q1			Q2			Q3			Q4			FY
2006			n.m.			34.6	%		22.2	%		15.7	%		30.5	%
2007			22.9	%

7

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

2006  

2007 

Revenues
Q1	Q2		Q3		Q4		FY
117.9		135.7		169.6		288.3		711.5
136.1

2006 

2007 

Gross Profit
Q1	Q2		Q3		Q4		FY
28.6		32.9		42.4		84.1		188.0
34.4

2006 

2007 

Operating Expenses
Q1	Q2		Q3		Q4		FY
28.9		28.0		33.9		47.9		138.7
38.6

2006 

2007 

Operating Profit
Q1	Q2		Q3		Q4		FY
(0.3)		4.9		8.5		36.2		49.3
(4.2)

2006 

2007 

Interest (Income) Expense
Q1	Q2		Q3		Q4		FY
1.2		1.1		1.5		1.7		5.5
1.1

2006 

2007 

Other (Income) Expense
Q1	Q2		Q3		Q4		FY
0.4		1.2		—		0.9		2.5
0.1

2006 

2007 

Income Before Taxes
Q1	Q2			Q3		Q4		FY
(1.9)		2.6	��		7.0		33.6		41.3
(5.4)

	Effective Income Tax Rate
	Q1			Q2			Q3			Q4			FY
2006		36.8	%		38.5	%		38.6	%		36.9	%		37.3	%
2007		38.9	%

2006 

2007 

Net Income
Q1	Q2		Q3		Q4		FY
(1.2)		1.6		4.3		21.2		25.9
(3.3)

2006 

2007 

Restructuring Expense (Reversal)
Q1	Q2		Q3		Q4		FY
0.2		—		—		1.4		1.6
(0.1)

2006 

2007 

Restructuring Accrual Balance
Q1	Q2		Q3		Q4		FY
2.6		2.4		1.3		2.6		2.6
1.8

2006 

2007 

Depreciation and amortization expense
Q1	Q2		Q3		Q4		FY
1.7		1.6		1.8		2.2		7.3
1.6

2006 

2007 

Net Working Capital (1)
Q1	Q2		Q3		Q4		FY
104.3		107.4		140.0		130.7		130.7
121.3

8 

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

2006 

2007

Capital Expenditures
Q1	Q2		Q3		Q4		FY
0.8		1.2		2.1		2.0		6.1
1.3

2006 

2007

Net cash provided by (used for) operating activities
Q1	Q2		Q3			Q4		FY
3.0		2.2		(7.5	)		48.2		45.9
(19.5)

2006 

2007

Net cash provided by (used for) investing activities
Q1	Q2		Q3			Q4			FY
(0.8)		10.3		(16.3	)		(2.1	)		(8.9	)
(1.2)

2006 

2007

Cash flow before financing activities (2)
Q1	Q2		Q3			Q4		FY
2.2		12.5		(23.8	)		46.1		37.0
(20.7)

2006 

2007

Net cash provided by (used for) financing activities
Q1	Q2			Q3		Q4			FY
(3.7)		(10.6	)		22.7		(43.5	)		(35.1	)
17.7

2006 

2007

Dividends to NACCO
Q1	Q2		Q3		Q4		FY
6.0		17.0		—		—		23.0
18.5

2006 

2007

Total debt
Q1	Q2		Q3		Q4		FY
59.4		65.9		88.7		45.2		45.2
81.5

2006 

2007

Equity
Q1	Q2		Q3		Q4		FY
137.8		123.0		127.2		147.2		147.2
122.1

	Return on Equity (3)
		Q1			Q2			Q3			Q4			FY
2006			15.0	%		15.4	%		14.6	%		19.0	%		19.0	%
2007			18.1	%

* 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.

9 

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

	Revenues
	Q1		Q2		Q3		��	Q4		FY
2006		95.5		113.6		136.1			201.5		546.7
2007		96.8

	Gross Profit $
	Q1		Q2		Q3		Q4		FY
2006		18.7		22.9		27.3		45.0		113.9
2007		17.3

	Operating Expenses
	Q1		Q2		Q3		Q4		FY
2006		17.5		16.4		17.9		19.6		71.4
2007		16.6

	Operating Profit $
	Q1		Q2		Q3		Q4		FY
2006		1.2		6.5		9.4		25.4		42.5
2007		0.7

	Interest (Income) Expense
	Q1		Q2		Q3		Q4		FY
2006		1.1		1.0		1.3		1.4		4.8
2007		0.8

	Other (Income) Expense
	Q1		Q2		Q3		Q4		FY
2006		0.4		1.2		—		0.8		2.4
2007		0.1

	Revenues % Change Year Over Year
	Q1			Q2			Q3			Q4			FY
2006		1.0	%		2.1	%		6.0	%		4.2	%		3.6	%
2007		1.4	%

	Gross Profit %
	Q1			Q2			Q3			Q4			FY
2006		19.6	%		20.2	%		20.1	%		22.3	%		20.8	%
2007		17.9	%

	Operating Expenses as a % of revenues
	Q1			Q2			Q3			Q4			FY
2006		18.3	%		14.4	%		13.2	%		9.7	%		13.1	%
2007		17.1	%

	Operating Profit %
	Q1			Q2			Q3			Q4			FY
2006		1.3	%		5.7	%		6.9	%		12.6	%		7.8	%
2007		0.7	%

	Income (Loss) Before Taxes
	Q1			Q2		Q3		Q4		FY
2006		(0.3	)		4.3		8.1		23.2		35.3
2007		(0.2	)

					��
	Net Income (Loss)
	Q1			Q2		Q3		Q4		FY
2006		(0.2	)		2.7		5.0		14.7		22.2
2007		(0.1	)

	Effective Income Tax Rate
	Q1			Q2			Q3			Q4			FY
2006		33.3	%		37.2	%		38.3	%		36.6	%		37.1	%
2007		50.0	%

	Restructuring Expense (Reversal)
	Q1			Q2		Q3		Q4		FY
2006		0.2			—		—		1.4		1.6
2007		(0.1	)

	Restructing Accrual Balance
	Q1		Q2		Q3		Q4		FY
2006		2.6		2.4		1.3		2.6		2.6
2007		1.8

	Depreciation and amortization expense
	Q1		Q2		Q3		Q4		FY
2006		1.3		1.2		1.3		1.7		5.5
2007		1.0

	Net Working Capital (1)
	Q1		Q2		Q3		Q4		FY
2006		90.3		92.9		119.0		114.5		114.5
2007		93.6

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
2006		0.6		0.7		1.5		1.4		4.2
2007		0.7

10

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

	Net cash provided by (used for) operating activities
	Q1		Q2		Q3			Q4		FY
2006		8.0		4.1		(11.3	)		27.9		28.7
2007		2.9

	Net cash provided by (used for) investing activities
	Q1			Q2		Q3			Q4			FY
2006		(0.6	)		10.8		(1.5	)		(1.5	)		7.2
2007		(0.6	)

	Cash flow before financing activities (2)
	Q1		Q2		Q3			Q4		FY
2006		7.4		14.9		(12.8	)		26.4		35.9
2007		2.3

	Net cash provided by (used for) financing activities
	Q1			Q2			Q3		Q4			FY
2006		(9.0	)		(13.0	)		11.6		(24.6	)		(35.0	)
2007		(4.5	)

	Dividends to NACCO
	Q1		Q2		Q3		Q4		FY
2006		6.0		17.0		—		—		23.0
2007		18.5

	Total debt
	Q1		Q2		Q3		Q4		FY
2006		51.2		55.3		66.9		42.2		42.2
2007		56.3

	Equity
	Q1		Q2		Q3		Q4		FY
2006		125.5		111.8		116.6		130.2		130.2
2007		108.3

	Return on Equity (3)
	Q1			Q2			Q3			Q4			FY
2006		15.3	%		15.8	%		15.0	%		18.0	%		18.0	%
2007		18.8	%

(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.

11

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

	Number of stores
		Q1		Q2		Q3		Q4		FY		��
2006			196		197		202		280		280
2007			273

	Revenues
		Q1		Q2		Q3		Q4		FY
2006			23.5		23.2		34.5		89.5		170.7
2007			39.7

	Average sales per store
		Q1		Q2		Q3		Q4		FY
2006			0.1		0.1		0.2		0.3		0.6
2007			0.1

	Gross Profit $
		Q1		Q2		Q3		Q4		FY
2006			10.0		10.0		15.1		39.0		74.1
2007			17.1

	Operating Expenses
		Q1		Q2		Q3		Q4		FY
2006			11.4		11.6		16.0		28.3		67.3
2007			22.0

	Operating Profit $
		Q1		Q2		Q3		Q4		FY
2006			(1.4)		(1.6)		(0.9)		10.7		6.8
2007			(4.9)

	Interest (Income) Expense
		Q1		Q2		Q3		Q4		FY
2006			0.1		0.1		0.2		0.3		0.7
2007			0.3

	Other (Income) Expense
		Q1		Q2		Q3		Q4		FY
2006			—		—		0.1		—		0.1
2007			—

	Gross Profit %
		Q1			Q2			Q3			Q4			FY
2006			42.6	%		43.1	%		43.8	%		43.6	%		43.4	%
2007			43.1	%

	Operating Expenses as a % of revenues
		Q1			Q2			Q3			Q4			FY
2006			48.5	%		50.0	%		46.4	%		31.6	%		39.4	%
2007			55.4	%

	Operating Profit %
		Q1			Q2			Q3			Q4			FY
2006			-6.0	%		-6.9	%		-2.6	%		12.0	%		4.0	%
2007			-12.3	%

	Income Before Taxes
		Q1		Q2		Q3		Q4		FY
2006			(1.5)		(1.7)		(1.2)		10.4		6.0
2007			(5.2)

	Net Income
		Q1		Q2		Q3		Q4		FY
2006			(0.9)		(1.0)		(0.7)		6.3		3.7
2007			(3.1)

	Effective Income Tax Rate
		Q1			Q2			Q3			Q4			FY
2006			40.0	%		41.2	%		41.7	%		39.4	%		38.3	%
2007			40.4	%

	Depreciation and amortization expense
		Q1		Q2		Q3		Q4		FY
2006			0.4		0.4		0.5		0.5		1.8
2007			0.6

	Net Working Capital (1)
		Q1		Q2		Q3		Q4		FY
2006			14.4		14.8		21.2		16.5		16.5
2007			28.0

	Capital Expenditures
		Q1		Q2		Q3		Q4		FY
2006			0.2		0.5		0.6		0.6		1.9
2007			0.6

12 

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

	Net cash provided by (used for) operating activities
		Q1		Q2		Q3		Q4		FY
2006			(5.0)		(1.9)		3.8		20.3		17.2
2007			(22.4)

	Net cash provided by (used for) investing activities
		Q1		Q2		Q3		Q4		FY
2006			(0.2)		(0.5)		(14.8)		(0.6)		(16.1)
2007			(0.6)

	Cash flow before financing activities (2)
		Q1		Q2		Q3		Q4		FY
2006			(5.2)		(2.4)		(11.0)		19.7		1.1
2007			(23.0)

	Net cash provided by (used for) financing activities
		Q1		Q2		Q3		Q4		FY
2006			5.3		2.4		11.1		(18.9)		(0.1)
2007			22.2

	Total debt
		Q1		Q2		Q3		Q4		FY
2006			8.2		10.6		21.8		3.0		3.0
2007			25.2

	Equity
		Q1		Q2		Q3		Q4		FY
2006			12.6		11.5		10.9		17.2		17.2
2007			14.0

	Return on Equity (3)
		Q1			Q2			Q3			Q4			FY
2006			11.3	%		12.2	%		9.4	%		28.2	%		28.2	%
2007			11.3	%

(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.

13 

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

	Lignite tons delivered - Project mines
	Q1		Q2		Q3		Q4		FY
2006		6.4		6.5		7.2		7.3		27.4
2007		6.7

	Lignite tons delivered - Non-project mines
	Q1		Q2		Q3		Q4		FY
2006		1.8		2.0		2.1		2.1		8.0
2007		1.6

	Limerock yards delivered
	Q1		Q2		Q3		Q4		FY
2006		9.7		10.5		9.6		9.4		39.2
2007		10.7

	Revenues
	Q1		Q2		Q3		Q4		FY
2006		33.7		39.2		38.1		38.0		149.0
2007		34.6

	Gross Profit $
	Q1		Q2		Q3		Q4		FY
2006		3.5		11.0		6.4		6.1		27.0
2007		5.5

	Gross Profit %
	Q1			Q2			Q3			Q4			FY
2006		10.4	%		28.1	%		16.8	%		16.1	%		18.1	%
2007		15.9	%

	Earnings of unconsolidated project
	mining subsidiaries
	Q1		Q2		Q3		Q4		FY
2006		8.9		9.1		9.4		8.6		36.0
2007		9.3

	Operating Expenses
	Q1		Q2		Q3		Q4			FY
2006		6.1		6.2		4.9		(15.7	)		1.5
2007		5.3

	Operating Profit $
	Q1		Q2		Q3		Q4		FY
2006		6.3		13.9		10.9		30.4		61.5
2007		9.5

	Operating Expenses as a % of the sum of Gross Profit
	plus Earnings of unconsolidated project mining subsidiaries
		Q1			Q2			Q3			Q4		FY
2006			49.2	%		30.8	%		31.0	%		n.m.		2.4	%
2007			35.8	%

	Operating Profit as a % of the sum of Gross Profit plus
	Earnings of unconsolidated project mining subsidiaries
		Q1			Q2			Q3			Q4		FY
2006			50.8	%		69.2	%		69.0	%		n.m.		97.6	%
2007			64.2	%

	Interest (Income) Expense
	Q1		Q2		Q3		Q4		FY
2006		1.9		1.9		1.7		1.8		7.3
2007		1.6

	Other (Income) Expense
	Q1		Q2		Q3		Q4			FY
2006		—		—		—		(0.1	)		(0.1	)
2007		—

	Income Before Taxes and Cumulative Effect of Accounting
	Changes
	Q1		Q2		Q3		Q4		FY
2006		4.4		12.0		9.2		28.7		54.3
2007		7.9

	Effective Income Tax Rate
	Q1			Q2			Q3			Q4			FY
2006		15.9	%		17.5	%		35.9	%		29.6	%		26.9	%
2007		13.9	%

	Net Income
	Q1		Q2		Q3		Q4		FY
2006		3.7		9.9		5.9		20.2		39.7
2007		6.8

14

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

	Depreciation, depletion and
	amortization expense
	Q1		Q2		Q3		Q4		FY
2006		3.3		3.3		3.6		3.4		13.6
2007		3.2

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
2006		9.4		0.9		0.9		15.1		26.3
2007		8.5

	Net cash provided by (used for) operating activities
	Q1		Q2		Q3		Q4		FY
2006		20.7		7.4		5.0		5.6		38.7
2007		11.6

	Net cash provided by (used for) investing activities
	Q1			Q2			Q3			Q4		FY
2006		(9.4	)		(0.8	)		(0.9	)		15.3		4.2
2007		(8.4	)

	Cash flow before financing activities (1)
	Q1		Q2		Q3		Q4		FY
2006		11.3		6.6		4.1		20.9		42.9
2007		3.2

	Net cash provided by (used for) financing activities
	Q1			Q2			Q3			Q4			FY
2006		(11.1	)		(5.2	)		(5.6	)		(17.0	)		(38.9	)
2007		(5.7	)

	Dividends to NACCO
	Q1		Q2		Q3		Q4		FY
2006		6.3		1.8		6.6		8.3		23.0
2007		21.9

	Total debt
	Q1		Q2		Q3		Q4		FY
2006		109.4		106.0		107.1		101.2		101.2
2007		117.4

	Equity
	Q1		Q2		Q3		Q4		FY
2006		59.1		62.7		59.9		60.0		60.0
2007		61.0

	Return on Equity (2)
	Q1			Q2			Q3			Q4			FY
2006		19.4	%		29.2	%		35.0	%		60.9	%		60.9	%
2007		70.7	%

(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.

15

NACCO and Other
(in millions, except percentage data)

	Operating Profit (Loss)
		Q1			Q2			Q3			Q4			FY
2006			(1.4	)		(0.5	)		(2.6	)		(1.2	)		(5.7	)
2007			(0.5	)

	Interest (Income) Expense
		Q1			Q2			Q3			Q4			FY
2006			(0.9	)		(0.9	)		(1.1	)		(1.2	)		(4.1	)
2007			(1.5	)

	Other (Income) Expense
		Q1		Q2		Q3		Q4		FY
2006			0.5		0.3		0.5		3.9		5.2
2007			1.5

	Income (Loss) Before Taxes, Extraordinary Gain (Loss) and Cumulative Effect of Accounting Changes
		Q1			Q2		Q3			Q4			FY
2006			(1.0	)		0.1		(2.0	)		(3.9	)		(6.8	)
2007			(0.5	)

	Extraordinary Gain (Loss)
		Q1		Q2		Q3		Q4		FY
2006			—		—		—		12.8		12.8
2007			—

	Net Income (Loss)
		Q1			Q2			Q3			Q4		FY
2006			(1.2	)		(1.4	)		(1.9	)		10.5		6.0
2007			(2.2	)

16