EXHIBIT 99.1
ITEM F(D) SELECTED CONSOLIDATED FINANCIAL DATA
The selected consolidated financial data presented below for, and as of the
end of, each of the fiscal years in the two-year period ended March 28, 1997
have been derived from financial statements of Keystone Automotive Industries,
Inc. (the "Company"), which have been audited by Ernst & Young LLP, independent
auditors, appearing elsewhere in the Company's Form 8-K filed with the
Securities and Exchange Commission on April 8, 1998 (the "Form 8-K"). The
selected financial data presented below for the fiscal year ended March 31,
1995, has been derived from the Statement of Income audited by Ernst & Young
LLP, included in the Form 8-K. The selected financial data presented below as of
the end of the fiscal year ended March 31, 1995 and for, and as of the end of,
each of the fiscal years in the two-year period ended March 25, 1994 has been
derived from unaudited financial statements of the Company not included in the
Form 8-K and which, in the opinion of management, include all adjustments,
consisting only of normal recurring adjustments, necessary for a fair statement
of the results for the years ended March 26, 1993 and March 25, 1994 and the
financial position as of March 31, 1995. The historical consolidated financial
data for all periods presented includes the accounts and operations of Inteuro
Parts Distributors, Inc. ("Inteuro") and Car Body Concepts, Inc. ("Car Body"),
which were acquired by the Company on January 1, 1998 in transactions accounted
for as poolings of interest. The selected consolidated financial data as of and
for the nine-month period ended December 26, 1997 presented below, was derived
from the historical unaudited consolidated financial statements of the Company
as of and for the nine-month period ended December 26, 1997 and the historial
unaudited financial statements of Inteuro and Car Body as of and for the nine
months ended December 31, 1997, after giving effect to the acquisitions using
the "pooling of interests" method of accounting. The unaudited consolidated
financial statements include, in the opinion of the Company's management, all
adjustments, consisting only of normal recurring adjustments, which the Company
considers necessary for a fair presentation of the financial condition and
results of operations of the Company for this period. Operating data for the
nine months ended December 26, 1997 is not necessarily indicative of the results
of operations that may be expected for the full year. The following selected
consolidated financial data should be read in conjunction with the supplemental
consolidated financial statements and notes thereto and Item 99.3. "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
included elsewhere in the Form 8-K.
FISCAL YEAR ENDED
------------------------------------------------------------------- Nine
(In thousands, except share and per share amounts) Months
Ended
March 26, March 25, March 31, March 29, March 28, December 26,
1993 1994 1995(1) 1996 1997 1997
----------- ----------- ----------- ----------- ----------- ------------
(Unaudited) (Unaudited) (Unaudited)
CONSOLIDATED STATEMENT OF INCOME DATA
Net sales..................................... $ 111,936 $ 125,781 $ 149,581 $ 178,076 $ 223,806 $ 192,459
Cost of sales................................. 66,613 74,186 88,609 107,415 132,085 111,828
----------- ----------- ----------- ----------- ----------- ------------
Gross profit.................................. 45,323 51,595 60,972 70,661 91,721 80,631
----------- ----------- ----------- ----------- ----------- ------------
Selling and distribution expenses............. 33,616 37,176 43,101 50,156 61,063 54,187
General and administrative expenses........... 8,578 10,257 10,831 10,968 13,831 9,847
Merger costs.................................. - - - - 905 323
Severence costs............................... - - - - - 705
----------- ----------- ----------- ----------- ----------- ------------
42,194 47,433 53,932 61,124 75,799 65,062
----------- ----------- ----------- ----------- ----------- ------------
Operating income.............................. 3,129 4,162 7,040 9,537 15,922 15,569
Interest expense, net......................... 1,098 892 1,300 1,721 1,477 114
----------- ----------- ----------- ----------- ----------- ------------
Income before income taxes.................... 2,031 3,270 5,740 7,816 14,445 15,455
Income taxes.................................. 566 1,108 1,543 2,836 4,435 4,996
Cumulative effect of accounting change
for income taxes............................ - 134 - - - -
----------- ----------- ----------- ----------- ----------- ------------
Net income.................................... $ 1, 465 $ 2,028 $ 4,197 $ 4,980 $ 10,010 $ 10,459
=========== =========== =========== =========== =========== ============
Net income per share.......................... $ .14 $ .20 $ .41 $ .49 $ .88 $ .76
=========== =========== =========== =========== =========== ============
Weighted average common shares outstanding(2). 10,313,000 10,313,000 10,255,000 10,250,000 11,408,000 13,674,000
Pro forma information (unaudited)(3):
Net income, as previously reported.......... $ 1,465 $ 2,028 $ 4,197 $ 4,980 $ 10,010 $ 10,459
Pro forma tax adjustment.................... (226) (167) (705) (258) (1,288) (1,186)
----------- ----------- ----------- ----------- ----------- ------------
Pro forma net income........................ $ 1,239 $ 1,861 $ 3,492 $ 4,722 $ 8,722 $ 9,273
=========== =========== =========== =========== =========== ============
Pro forma earnings per share................ $ .12 $ .18 $ .34 $ .46 $ .76 $ .68
=========== =========== =========== =========== =========== ============
March 26, March 25, March 31, March 29, March 28, December 26,
1993 1994 1995(1) 1996 1997 1997
------------- ------------- ------------- ------------- ------------- -------------
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
(In thousands)
CONSOLIDATED BALANCE SHEET DATA
Working capital.................... $ 11,767 $ 12,711 $ 15,230 $ 18,134 $ 30,154 $ 69,003
Total assets....................... 43,776 49,324 56,757 71,780 87,183 113,659
Total current liabilities.......... 24,008 28,501 30,252 38,335 38,240 19,412
Long-term debt..................... 3,011 2,235 4,063 7,021 2,087 372
Shareholder's equity............... 15,935 17,890 21,671 26,119 46,453 93,472
____________
(1) Fiscal 1995 contained 53 weeks.
(2) Includes Common Stock equivalents attributable to stock options
outstanding, which are not material.
(3) Proforma information gives effect to an income tax adjustment to reflect
taxation of Inteuro and Car Body income as a C corporation, rather than an
S corporation, at an estimated statutory rate of approximately 39%.