EXHIBIT 99
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
ON THE FINANCIAL STATEMENT SCHEDULE
To the Board of Directors and Shareholders of
SIFCO Industries, Inc.:
We have audited in accordance with auditing standards generally
accepted in the United States, the consolidated financial statements included in
SIFCO Industries, Inc. and Subsidiaries' annual report to shareholders
incorporated by reference in this Form 10-K, and have issued our report thereon
dated October 26, 2001. Our audit was made for the purpose of forming an opinion
on those statements taken as a whole. The schedule listed in the index of
financial statement schedules is the responsibility of the Company's management
and is presented for purposes of complying with the Securities and Exchange
Commission's rules and is not part of the basic consolidated financial
statements. This schedule has been subjected to the auditing procedures applied
in the audit of the basic consolidated financial statements and, in our opinion,
fairly states in all material respects the financial data required to be set
forth therein in relation to the basic consolidated financial statements taken
as a whole.
ARTHUR ANDERSEN LLP
Cleveland, Ohio,
October 26, 2001.
SCHEDULE II
SIFCO Industries, Inc. and Subsidiaries
Allowance For Doubtful Accounts
For The Years Ended September 30, 2001, 2000 And 1999
(Amounts in thousands)
2001 2000 1999
------- ------- -------
Balance beginning of period $ 765 $ 722 $ 774
Additions - charged to costs and expenses 1,098 220 84
Addition - reallocation of Corporate Reserves 433 - -
Deductions - accounts determined to be uncollectible (930) (140) (169)
Recoveries of fully reserved accounts 32 23 94
Exchange rate changes and other 24 (60) (61)
------- ------- -------
Balance end of period $ 1,422 $ 765 $ 722
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