EXHIBIT 99.5
METALLURG, INC. AND CONSOLIDATED SUBSIDIARIES
PRO FORMA CONDENSED STATEMENT OF CONSOLIDATED OPERATIONS
YEAR ENDED DECEMBER 31, 2000
(UNAUDITED)
(In thousands)
Pro Forma
Historical Adjustments (a) Pro Forma
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Total revenue..................................... $395,840 $(34,555)(b) $361,285
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Operating costs and expenses:
Cost of sales.................................. 343,687 (29,411)(c) 314,276
Selling, general and administrative expenses... 34,123 (2,836) 31,287
Environmental expense recoveries............... (750) -- (750)
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Total operating costs and expenses ............ 377,060 (32,247) 344,813
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Operating income............................... 18,780 (2,308) 16,472
Other income (expense):
Other income, net.............................. 5,491 (100) 5,391
Interest expense, net.......................... (9,014) (67) (9,081)
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Income before income tax provision and minority
interest ................................... 15,257 (2,475) 12,782
Income tax provision ............................. 5,177 (886) 4,291
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Income before minority interest ............... 10,080 (1,589) 8,491
Minority interest ................................ 7 (21) (14)
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Net income .................................... $ 10,087 $ (1,610) $ 8,477
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(a) Reflects the activity of MeSA.
(b) Reflects the following:
Total revenue of MeSA...................................... $(36,266)
Adjustment of intergroup activity between MeSA
and the companies retained by Metallurg................. 1,711
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$(34,555)
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(c) Reflects the following:
Total cost of sales of MeSA................................ $(31,122)
Adjustment of intergroup activity between MeSA
and the companies retained by Metallurg................. 1,711
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$(29,411)
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