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EXHIBIT 5.4
LESCO, INC.
STATEMENTS OF OPERATION
(UNAUDITED)
1997
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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 $ 65,267 $ 111,128 $ 176,395 $ 103,244 $ 279,638
Cost of sales 43,014 74,332 117,347 69,313 186,661
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GROSS PROFIT ON SALES 22,253 36,796 59,048 33,931 92,977
Warehouse & delivery expense 5,799 7,175 12,974 8,028 21,002
Selling, general & administrative expense 17,405 18,718 36,122 18,729 54,848
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23,204 25,893 49,096 26,757 75,850
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(LOSS) INCOME FROM OPERATIONS (951) 10,903 9,952 7,174 17,127
Other deductions (income):
Interest expense 1,250 1,075 2,324 1,122 3,446
Joint venture loss 0 345 345 265 610
Results of joint venture operations (547) (804) (1,350) (1,499) (2,848)
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703 616 1,319 (112) 1,208
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(Loss) Income Before Income Taxes (1,654) 10,287 8,633 7,286 15,919
Income tax (benefit) expense (645) 4,012 3,367 2,842 6,209
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NET (LOSS) INCOME $ (1,009) $ 6,275 $ 5,266 $ 4,444 $ 9,710
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BASIC (LOSS) EARNINGS PER SHARE $ (0.13) $ 0.77 $ 0.65 $ 0.54 $ 1.19
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DILUTED (LOSS) EARNINGS PER SHARE $ (0.13) $ 0.74 $ 0.63 $ 0.51 $ 1.14
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