TOTAL CONTAINMENT, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
PROFORMA
(Unaudited)
Jan 31, Dec. 31,
1998 1997
(In thousands) (In thousands)
ASSETS
Current Assets:
Cash and cash equivalents $ 4,352 $ 612
Accounts receivable, net 7,961 7,887
Inventories - Note 2 8,311 7,306
Other assets 5,378 5,391
Total current assets 26,002 21,196
Molds and tooling costs, net 904 987
Property and equipment, net 3,997 3,871
Patents, patent rights and licenses, net 4,266 4,293
Goodwill, net 5,366 5,379
Other assets 4,320 4,321
Total Assets $ 44,855 $ 40,047
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LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Line of credit borrowings 5,383 $ 3,197
Current portion of long-term debt 1,649 744
Accounts payable and accrued expenses 7,911 10,039
Warranty reserve 5,919 6,088
Total current liabilities 20,862 20,068
Long-term debt 2,259 2,305
Warranty reserve 11,234 11,234
Total liabilities 34,355 33,607
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Shareholders' Equity:
Preferred stock - $0.01 par value;
authorized 1,000 shares;
400 shares issued and outstanding
Common stock - $0.01 par value;
authorized 20,000,000 shares;
4,641,600 shares issued and outstanding 46 46
Capital in excess of par value 17,728 13,729
Retained earnings (7,135) (7,139)
Equity adjustment from foreign
currency translation (140) (196)
Total shareholders' equity 10,500 6,440
Total Liabilities & Shareholders' Equity $ 44,855 $ 40,047
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