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EXHIBIT 13(a)ii
CONSOLIDATED BALANCE SHEETS
November 30, 1999 and 1998 (Dollars in thousands except per share data)
ASSETS 1999 1998
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Current assets:
Cash and short-term cash investments...................... $ 14,745 $ 33,321
Accounts receivable, less allowance for losses of $5,155
for 1999 and $2,711 for 1998........................... 103,986 67,557
Inventories .............................................. 89,850 58,614
Prepaid expenses and other current assets................. 11,830 2,444
Deferred income taxes..................................... 7,259 6,237
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Total current assets............................ 227,670 168,173
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Plant assets, at cost less accumulated depreciation........... 126,026 86,389
Acquired intangibles, less accumulated amortization........... 91,151 21,665
Pension assets................................................ 17,879 15,907
Other noncurrent assets....................................... 10,265 13,632
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Total assets.................................... $ 472,991 $ 305,766
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LIABILITIES
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Current liabilities:
Current portion of long-term debt......................... $ 5,440 $ 470
Accounts payable and accrued liabilities.................. 87,593 54,525
Income taxes.............................................. 4,442 6,188
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Total current liabilities....................... 97,475 61,183
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Long-term debt, less current portion.......................... 145,981 36,419
Postretirement health care benefits........................... 3,342 1,821
Long-term pension liabilities................................. 3,577 8,896
Deferred income taxes......................................... 10,238 9,920
Other long-term liabilities................................... 1,265 431
Minority interests............................................ 395 289
Contingencies
SHAREHOLDERS' EQUITY
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Capital stock:
Preferred, par value $1, authorized 5,000,000 shares,
none issued .......................................... -- --
Common, par value $1, authorized 60,000,000 shares,
issued 24,019,722 in 1999 and 23,949,358 in 1998........ 24,020 23,949
Capital in excess of par value............................ 948 156
Accumulated other comprehensive earnings:
Foreign currency translation adjustments............... (4,151) (2,993)
Retained earnings......................................... 189,901 165,695
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Total shareholders' equity...................... 210,718 186,807
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Total liabilities and shareholders' equity...... $ 472,991 $ 305,766
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The accompanying notes are an integral part of the consolidated financial
statements.
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