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EXHIBIT 13(a)iii
CONSOLIDATED STATEMENTS OF EARNINGS
for the years ended November 30, 1997, 1996 and 1995 (DOLLARS IN THOUSANDS
EXCEPT PER SHARE DATA)
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Restated Restated
1997 1996 1995
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Net sales ............................ $394,264 $372,382 $330,110
Cost of sales ........................ 273,702 263,597 234,452
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Gross profit ................... 120,562 108,785 95,658
Selling and administrative expenses .. 73,166 66,189 56,930
Merger-related costs ................. 2,972 -- --
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Operating profit ............... 44,424 42,596 38,728
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Other income (expense):
Interest expense .................. (2,759) (3,822) (3,418)
Interest and dividend income ...... 1,020 1,132 1,104
Gain on sale of marketable
securities ...................... 1,706 1,675 --
Other, net ........................ (199) (176) 217
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(232) (1,191) (2,097)
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Earnings before income taxes
and minority interests ...... 44,192 41,405 36,631
Provision for income taxes ........... 17,164 15,315 13,060
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Earnings before
minority interests .......... 27,028 26,090 23,571
Minority interests in earnings
of subsidiaries ................... (110) (145) (71)
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Net earnings ......................... $26,918 $25,945 $23,500
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Net earnings per common share ........ $1.67 $1.63 $1.48
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The accompanying notes are an integral part of the consolidated financial
statements.
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