Exhibit 99.1
(Thousands of U.S. dollars)
As Reported | As Adjusted | |||||||||||||||||||||||||||||
1Q 02 | 2Q 02 | 3Q 02 | 4Q 02 | 2002 | 1Q 02 | 2Q 02 | 3Q 02 | 4Q 02 | 2002 | |||||||||||||||||||||
Automotive Bearings (Previously Reported Segment) | ||||||||||||||||||||||||||||||
Net sales to external customers | 203,696 |
| 219,177 |
| 207,136 |
| 210,754 |
| 840,763 |
| 203,696 |
| 219,177 |
| 207,136 |
| 210,754 |
| 840,763 |
| ||||||||||
Impairment and restructuring | 1,932 |
| 12,529 |
| 2,550 |
| 1,981 |
| 18,992 |
| — |
| ||||||||||||||||||
Reorganization expenses | 2,144 |
| 2,931 |
| 2,604 |
| 2,052 |
| 9,731 |
| — |
| ||||||||||||||||||
Receipt of Continued Dumping & Subsidy Offset Act (CDSOA) payment | — |
| — |
| — |
| 10,829 |
| 10,829 |
| — |
| ||||||||||||||||||
Earnings before interest and taxes (EBIT) | 11,213 |
| (11,776 | ) | (3,081 | ) | 18,359 |
| 14,715 |
| 15,289 |
| 3,684 |
| 2,073 |
| 11,563 |
| 32,609 |
| ||||||||||
EBIT Margin | 5.5 | % | -5.4 | % | -1.5 | % | 8.7 | % | 1.8 | % | 7.5 | % | 1.7 | % | 1.0 | % | 5.5 | % | 3.9 | % | ||||||||||
Automotive Group (New Segment) | ||||||||||||||||||||||||||||||
Net sales to external customers | 183,398 |
| 196,053 |
| 184,671 |
| 188,641 |
| 752,763 |
| 183,398 |
| 196,053 |
| 184,671 |
| 188,641 |
| 752,763 |
| ||||||||||
Impairment and restructuring | 1,932 |
| 12,529 |
| 2,550 |
| 1,981 |
| 18,992 |
| — |
| ||||||||||||||||||
Reorganization expenses | 2,144 |
| 2,931 |
| 2,604 |
| 2,052 |
| 9,731 |
| — |
| ||||||||||||||||||
Receipt of Continued Dumping & Subsidy Offset Act (CDSOA) payment | — |
| — |
| — |
| 10,829 |
| 10,829 |
| — |
| ||||||||||||||||||
Earnings before interest and taxes (EBIT) | 3,383 |
| (15,425 | ) | (9,232 | ) | 14,476 |
| (6,798 | ) | 7,459 |
| 35 |
| (4,078 | ) | 7,680 |
| 11,096 |
| ||||||||||
EBIT Margin | 1.8 | % | -7.9 | % | -5.0 | % | 7.7 | % | -0.9 | % | 4.1 | % | 0.0 | % | -2.2 | % | 4.1 | % | 1.5 | % | ||||||||||
Industrial Bearings (Previously Reported Segment) | ||||||||||||||||||||||||||||||
Net sales to external customers | 212,940 |
| 228,058 |
| 217,232 |
| 225,304 |
| 883,534 |
| 212,940 |
| 228,058 |
| 217,232 |
| 225,304 |
| 883,534 |
| ||||||||||
Impairment and restructuring | 956 |
| 1,940 |
| 4,330 |
| 2,087 |
| 9,313 |
| — |
| ||||||||||||||||||
Reorganization expenses | 2,900 |
| 1,891 |
| 1,837 |
| 2,087 |
| 8,715 |
| — |
| ||||||||||||||||||
Receipt of Continued Dumping & Subsidy Offset Act (CDSOA) payment | — |
| — |
| — |
| 39,373 |
| 39,373 |
| — |
| ||||||||||||||||||
Earnings before interest and taxes (EBIT) | (606 | ) | 12,510 |
| 11,953 |
| 49,015 |
| 72,872 |
| 3,250 |
| 16,341 |
| 18,120 |
| 13,816 |
| 51,527 |
| ||||||||||
EBIT Margin | -0.3 | % | 5.5 | % | 5.5 | % | 21.8 | % | 8.2 | % | 1.5 | % | 7.2 | % | 8.3 | % | 6.1 | % | 5.8 | % | ||||||||||
Industrial Group (New Segment) | ||||||||||||||||||||||||||||||
Net sales to external customers | 233,238 |
| 251,182 |
| 239,697 |
| 247,417 |
| 971,534 |
| 233,238 |
| 251,182 |
| 239,697 |
| 247,417 |
| 971,534 |
| ||||||||||
Impairment and restructuring | 956 |
| 1,940 |
| 4,330 |
| 2,087 |
| 9,313 |
| — |
| ||||||||||||||||||
Reorganization expenses | 2,900 |
| 1,891 |
| 1,837 |
| 2,087 |
| 8,715 |
| — |
| ||||||||||||||||||
Receipt of Continued Dumping & Subsidy Offset Act (CDSOA) payment | — |
| — |
| — |
| 39,373 |
| 39,373 |
| — |
| ||||||||||||||||||
Earnings before interest and taxes (EBIT) | 7,224 |
| 16,159 |
| 18,104 |
| 52,898 |
| 94,385 |
| 11,080 |
| 19,990 |
| 24,271 |
| 17,699 |
| 73,040 |
| ||||||||||
EBIT Margin | 3.1 | % | 6.4 | % | 7.6 | % | 21.4 | % | 9.7 | % | 4.8 | % | 8.0 | % | 10.1 | % | 7.2 | % | 7.5 | % | ||||||||||