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Exhibit 99(a)
A proforma statement of operations for the twelve months ended July 3, 1994 and
the six months ended January 1, 1995 follows and shows the effect of the sale
of Flippin as if it had occurred at the beginning of each period noted.
LABARGE, INC.
PROFORMA CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE TWELVE MONTHS ENDED JULY 3, 1994
AND THE SIX MONTHS ENDED JANUARY 1, 1995
(unaudited)
(in thousands except per share data)
TWELVE MONTHS ENDED JULY 3, 1994 SIX MONTHS ENDED JANUARY 1, 1995
Reported Adjustments PROFORMA Reported Adjustments PROFORMA
-------- ----------- -------- -------- ----------- --------
NET SALES $ 73,143 $ 19,008 $ 54,135 $ 33,317 $ 7,339 $ 25,978
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COST OF SALES 60,798 16,710 44,088 27,662 6,534 21,128
SELLING & ADMIN. EXPENSES 8,263 1,354 6,909 4,123 665 3,458
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EARNINGS FROM OPERATIONS 4,082 944 3,138 1,531 140 1,391
INTEREST EXPENSE 2,117 817 1,300 1,058 489 569
OTHER INCOME, NET 138 2 136 210 154 56
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EARNINGS BEFORE INCOME TAXES 2,103 129 1,974 683 195 878
INCOME TAX EXPENSE (BENEFIT) (253) (8) (261) 41 11 52
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NET EARNINGS 2,356 121 2,235 642 184 826
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EARNINGS PER COMMON SHARE $0.16 -- $0.15 $0.04 -- $0.05
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AVERAGE COMMON SHARES 15,135 -- 15,135 15,218 -- 15,218
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The above reflects adjustments to eliminate the sales and profit generated by
the Flippin facility for the twelve- and six- month periods indicated as well
as adjustment of interest expense to reflect the cash received from the sale of
Flippin used to reduce debt.