Exhibit 99.2
OM Group, Inc. and Subsidiaries
Unaudited Proforma Condensed Statement of Consolidated Income
Year Ended December 31, 2006
Unaudited Proforma Condensed Statement of Consolidated Income
Year Ended December 31, 2006
(In thousands, except per share data) | As Reported | Adjustments (a) | Proforma | |||||||||
Net sales | $ | 660,104 | — | $ | 660,104 | |||||||
Cost of products sold | 475,437 | — | 475,437 | |||||||||
Gross profit | 184,667 | — | 184,667 | |||||||||
Selling, general and administrative expenses | 109,408 | — | 109,408 | |||||||||
Income from operations | 75,259 | — | 75,259 | |||||||||
Other income (expense): | ||||||||||||
Interest expense | (38,659 | ) | — | (38,659 | ) | |||||||
Interest income | 8,566 | — | 8,566 | |||||||||
Foreign exchange gain (loss) | 3,661 | — | 3,661 | |||||||||
Gain on sale of investments | 12,223 | — | 12,223.0 | |||||||||
Other income (expense), net | (582 | ) | — | (582 | ) | |||||||
(14,791 | ) | — | (14,791 | ) | ||||||||
Income from continuing operations before income taxes and minority interest | 60,468 | — | 60,468 | |||||||||
Income tax expense | (30,554 | ) | — | (30,554 | ) | |||||||
Minority interest share of (income) loss | (6,291 | ) | — | (6,291 | ) | |||||||
Income from continuing operations | 23,623 | — | 23,623 | |||||||||
Income from continuing operations per common share — basic: | $ | 0.80 | $ | — | $ | 0.80 | ||||||
Income from continuing operations per common share — assuming dilution: | $ | 0.80 | $ | — | $ | 0.80 | ||||||
Weighted average shares outstanding: | ||||||||||||
Basic | 29,362 | — | 29,362 | |||||||||
Assuming dilution | 29,578 | — | 29,578 |
(a) | There are no proforma adjustments in the Unaudited Proforma Condensed Statement of Consolidated Income as the Nickel business was already classified in discontinued operations, including reclassification of all prior periods, beginning in the fourth quarter of 2006. The estimated after-tax gain of $65.6 million, is not reflected in the Unaudited Proforma Condensed Statement of Consolidated Income as such gain would be a component of income from discontinued operations. |