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Exhibit 99.2
LADD FURNITURE, INC. AND SUBSIDIARIES - SUPPLEMENTAL FINANCIAL DATA
July 14, 1999 CONTACT: John J. Ong, CFA (336) 315-4049
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (PRELIMINARY AND UNAUDITED)
Quarters Ended
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In thousands, except per share data 7/3/99 4/3/99 1/2/99 10/3/98 7/4/98 4/4/98
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Net sales $153,015 157,144 145,253 142,896 135,505 147,409
Cost of sales 122,043 126,973 116,713 115,160 108,173 120,733
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Gross profit 30,972 30,171 28,540 27,736 27,332 26,676
Selling, general and administrative expenses 22,423 22,416 20,286 19,932 19,947 20,350
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Operating income 8,549 7,755 8,254 7,804 7,385 6,326
Other deductions:
Interest expense 1,827 2,048 2,123 2,220 2,371 2,584
Other expense (income), net (37) (95) 43 148 310 (126)
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1,790 1,953 2,166 2,368 2,681 2,458
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Earnings before income taxes 6,759 5,802 6,088 5,436 4,704 3,868
Income tax expense 2,443 2,205 2,377 2,117 1,835 1,508
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Net earnings $ 4,316 3,597 3,711 3,319 2,869 2,360
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Net earnings per common share - basic $ 0.55 0.46 0.47 0.42 0.37 0.30
Net earnings per common share - diluted $ 0.54 0.45 0.47 0.41 0.35 0.30
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Weighted average number of common
shares outstanding - basic 7,830 7,840 7,831 7,831 7,812 7,760
Weighted average number of common
shares outstanding - diluted 7,981 7,951 7,922 8,034 8,165 7,940
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CONDENSED CONSOLIDATED BALANCE SHEETS (PRELIMINARY AND UNAUDITED)
Dollar amounts in thousands 7/3/99 4/3/99 1/2/99 10/3/98 7/4/98 4/4/98
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ASSETS
Current assets:
Cash $ 196 147 110 156 89 114
Trade accounts receivable 90,361 99,008 90,286 94,861 85,253 91,709
Inventories 105,789 103,699 98,798 103,353 102,129 95,101
Prepaid expenses and other current assets 8,999 8,168 8,771 7,124 9,514 8,646
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Total current assets 205,345 211,022 197,965 205,494 196,985 195,570
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Property, plant and equipment 64,917 65,408 66,297 66,189 66,406 66,255
Intangible and other assets 70,568 70,907 72,703 73,836 74,431 76,333
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$340,830 347,337 336,965 345,519 337,822 338,158
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LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current installments of long-term debt $ 6,590 6,590 6,590 6,590 6,590 11,476
Trade accounts payable 32,487 36,339 31,296 36,982 36,317 37,217
Accrued expenses and other current
liabilities 41,999 41,710 37,384 38,617 35,252 33,925
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Total current liabilities 81,076 84,639 75,270 82,189 78,159 82,618
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Long-term debt, excluding current
installments 95,110 102,420 104,585 109,540 109,629 109,390
Deferred and other liabilities 12,294 12,107 12,589 13,067 12,657 12,826
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Total liabilities 188,480 199,166 192,444 204,796 200,445 204,834
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Total shareholders' equity 152,350 148,171 144,521 140,723 137,377 133,324
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$340,830 347,337 336,965 345,519 337,822 338,158
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