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EXHIBIT 5.3
LESCO, INC.
STATEMENTS OF OPERATION
(UNAUDITED)
1998
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(In thousands, except per share data) 1st Quarter 2nd Quarter Six Months 3rd Quarter Nine Months
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Net sales $ 72,690 $ 134,446 $ 207,136 $ 118,837 $ 325,973
Cost of sales 48,174 88,709 136,883 81,996 218,880
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GROSS PROFIT ON SALES 24,516 45,737 70,253 36,841 107,093
Warehouse & delivery expense 5,905 10,612 16,517 9,263 25,780
Selling, general & administrative expense 20,009 22,279 42,288 22,441 64,728
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25,914 32,891 58,805 31,704 90,508
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(LOSS) INCOME FROM OPERATIONS (1,398) 12,846 11,448 5,137 16,585
Other deductions (income):
Interest expense 1,725 1,319 3,044 1,153 4,197
Joint venture loss 73 716 789 909 1,698
Results of joint venture operations (700) (1,213) (1,913) (1,043) (2,956)
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1,098 822 1,920 1,019 2,939
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(Loss) Income Before Income Taxes (2,496) 12,024 9,528 4,118 13,646
Income tax (benefit) expense (974) 4,690 3,716 1,605 5,321
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NET (LOSS) INCOME $ (1,522) $ 7,334 $ 5,812 $ 2,513 $ 8,325
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BASIC (LOSS) EARNINGS PER SHARE $ (0.18) $ 0.88 $ 0.70 $ 0.30 $ 1.00
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DILUTED (LOSS) EARNINGS PER SHARE $ (0.18) $ 0.85 $ 0.67 $ 0.30 $ 0.97
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