EXHIBIT 7(b)3 UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 1995. MICROELECTRONIC PACKAGING, INC. UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 1995 HISTORICAL PRO FORMA PRO FORMA (AUDITED) ADJUSTMENTS CONSOLIDATED ----------- ----------- ------------ Net sales $57,996,000 $57,996,000 Cost of goods sold 46,410,000 46,410,000 ----------- ----------- Gross profit 11,586,000 11,586,000 Selling, general and administrative 7,882,000 $ (164,000)(1) 7,718,000 Engineering and product development 2,152,000 2,152,000 Provision for revaluation of subsidiary 1,000,000 (1,000,000)(1) - ----------- ------------ ----------- Income (loss) from operations 552,000 (1,164,000) 1,716,000 Other income (expense): Foreign exchange gain (loss) (1,254,000) 22,000(1) (1,232,000) Interest (expense), net (1,298,000) 175,000(1) (1,123,000) Other income, net 614,000 - 614,000 ----------- ------------ ----------- Income (loss) before provision for income taxes (1,386,000) (1,361,000) (25,000) Provision for income taxes - - - ----------- ------------ ----------- Net income (loss) $(1,386,000) $ (1,361,000) $ (25,000) =========== ============ =========== Net income (loss) per common share $ (0.30) $ (0.01) =========== =========== Weighted average shares used in per share calculation 4,660,000 4,660,000 =========== =========== See accompanying notes to unaudited pro forma condensed consolidated financial information.