Exhibit 99.6
PIONEER-STANDARD ELECTRONICS, INC.
QUARTERLY CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS AND YEAR ENDED MARCH 31, 2003 AND 2002
Three Months Ended Year Ended
March 31 March 31
---------------------------- ----------------------------
(In Thousands, Except Per Share Data) 2003 2002 2003 2002
------------ ------------ ------------ ------------
Net Sales $ 261,339 $ 285,548 $ 1,171,631 $ 1,294,322
Cost of goods sold 226,874 244,698 1,022,378 1,123,839
------------ ------------ ------------ ------------
Gross margin 34,465 40,850 149,253 170,483
Warehouse, selling and administrative
expenses 32,794 34,021 135,899 154,682
Restructuring charges 20,697 473 20,697 473
------------ ------------ ------------ ------------
Operating Income (Loss) (19,026) 6,356 (7,343) 15,328
Other (Income) Expense
Other income, net (496) (1,175) (966) (873)
Investment impairment 14,600 - 14,600 -
Interest expense, net 2,656 2,111 9,343 11,257
Loss on retirement of debt 1,164 - 1,164 -
------------ ------------ ------------ ------------
Income (Loss) Before Income Taxes (36,950) 5,420 (31,484) 4,944
Provision (benefit) for income taxes (13,805) 1,518 (11,739) 1,618
Distributions on mandatorily
redeemable convertible trust
preferred securities, net of tax 1,715 1,511 6,315 6,237
------------ ------------ ------------ ------------
Income (Loss) from Continuing Operations $ (24,860) $ 2,391 $ (26,060) $ (2,911)
Income (Loss) from Discontinued
Operations, net of tax 14,210 (8,668) 18,777 (4,136)
------------ ------------ ------------ ------------
Loss before Cumulative Effect of Change in
Accounting Principle $ (10,650) $ (6,277) $ (7,283) $ (7,047)
Cumulative Effect of Change in
Accounting Principle, net of tax - - (34,795) -
------------ ------------ ------------ ------------
Net Loss $ (10,650) $ (6,277) $ (42,078) $ (7,047)
============ ============ ============ ============
PER SHARE DATA:
BASIC:
Income (Loss) from Continuing Operations $ (0.91) $ 0.09 $ (0.96) $ (0.11)
Income (Loss) from Discontinued Operations 0.52 (0.32) 0.69 (0.15)
------------ ------------ ------------ ------------
Loss before Cumulative Effect of Change in
Accounting Principle $ (0.39) $ (0.23) $ (0.27) $ (0.26)
------------ ------------ ------------ ------------
Cumulative Effect of Change in Accounting
Principle - - (1.27) -
------------ ------------ ------------ ------------
Net Loss $ (0.39) $ (0.23) $ (1.54) $ (0.26)
============ ============ ============ ============
DILUTED:
Income (Loss) from Continuing Operations $ (0.91) $ 0.09 $ (0.96) $ (0.11)
Income (Loss) from Discontinued Operations 0.52 (0.32) 0.69 (0.15)
------------ ------------ ------------ ------------
Loss before Cumulative Effect of Change in
Accounting Principle $ (0.39) $ (0.23) $ (0.27) $ (0.26)
------------ ------------ ------------ ------------
Cumulative Effect of Change in Accounting
Principle - - (1.27) -
------------ ------------ ------------ ------------
Net Loss $ (0.39) $ (0.23) $ (1.54) $ (0.26)
============ ============ ============ ============
Weighted Average Shares Outstanding:
Basic 27,355,569 27,106,933 27,291,683 27,040,171
Diluted 27,355,569 27,816,419 27,291,683 27,040,171
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