Exhibit 7(b)(.1)
VERNITRON CORPORATION
PRO FORMA CONDENSED STATEMENT OF OPERATIONS
FOR THE QUARTER ENDED MARCH 31, 1996
(UNAUDITED - DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
HISTORICAL HISTORICAL PRO FORMA
VERNITRON PRECISION VERNITRON
CORPORATION AEROTECH, INC. ADJUSTMENTS CORPORATION
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Net sales $17,031 $11,452 ($220)(i) $28,263
Cost of sales 12,603 8,605 (220)(i) 20,988
4 (m)
Selling, general and administrative expenses 3,265 1,881 (130)(k) 5,016
Amortization of intangible assets 52 22 (l) 74
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Operating income 1,111 966 2,185
Interest expense 444 396 200 (j) 1,040
Other (income) expense (7) (10) (17)
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Income from continuing operations before taxes 674 580 1,162
Income taxes 284 226 (27)(n) 483
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Income from continuing operations 390 354 679
Preferred Dividends 184 184
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Income Applicable to Common Shareholders $ 206 $ 354 $ 495
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Income per Common Share:
Primary $ 0.02 $ 0.04
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Fully Diluted n/a $ 0.04
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Weighted Average Number of Common Shares
Outstanding (in thousands):
Primary 12,645 12,645
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Fully Diluted n/a 13,345
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