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EXHIBIT 13(a)(iii)
CONSOLIDATED STATEMENTS OF EARNINGS
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FOR THE YEARS ENDED NOVEMBER 30, 2000, 1999 AND 1998
(Dollars in thousands except per share data)
2000 1999 1998
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Net sales ..................................................... $652,148 $477,869 $426,773
Cost of sales ................................................. 453,803 329,282 291,537
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Gross profit ............................................ 198,345 148,587 135,236
Selling and administrative expenses ........................... 122,358 92,510 83,573
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Operating profit ........................................ 75,987 56,077 51,663
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Other income (expense):
Interest expense ........................................... (11,534) (3,733) (2,336)
Interest income ............................................ 698 1,451 1,283
Other, net ................................................. (1,664) 1,820 737
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(12,500) (462) (316)
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Earnings before income taxes and minority interests ..... 63,487 55,615 51,347
Provision for income taxes .................................... 23,201 20,137 19,262
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Earnings before minority interests ...................... 40,286 35,478 32,085
Minority interests in earnings of subsidiaries ................ (49) (66) (6)
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Net earnings .................................................. $ 40,237 $ 35,412 $ 32,079
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Net earnings per common share:
Basic ...................................................... $ 1.66 $ 1.48 $ 1.32
Diluted .................................................... $ 1.64 $ 1.46 $ 1.30
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Average number of common shares outstanding:
Basic ...................................................... 24,269,675 23,970,011 24,268,250
Diluted .................................................... 24,506,171 24,313,607 24,648,623
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The accompanying notes are an integral part of the consolidated financial
statements.
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