EXHIBIT 99.1
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The following sets forth a reconciliation of the differences between
certain non-GAAP financial measures and the most directly comparable GAAP
financial measures. Management of the company believes that these financial
metrics are useful to understanding the operation of the business.
TABLE 1 - EBITDA AND NET INCOME MARGIN
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FOR THE YEAR ENDED DECEMBER 31, 2002 (IN THOUSANDS)
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Amount Percent of Sales
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Sales $713,942 100.0%
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Net Income 58,974 8.3%
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Interest Income, net (3,407) -0.5%
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Taxes 36,374 5.1%
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Depreciation & 17,711 2.5%
Amortization
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EBITDA $109,652 15.4%
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TABLE 2 - 5 YEAR EBITDA AND NET INCOME, CUMULATIVE AVERAGE GROWTH RATES (CAGR)
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Interest, Taxes,
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EBITDA Depreciation & Net Income
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Amortization
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CAGR 26.2% 25.5%
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2002 $109,652 $ 50,678 $ 58,974
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2001 87,744 39,301 48,443
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2000 67,881 30,073 37,808
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1999 49,206 27,235 21,971
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1998 46,803 20,110 26,693
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1997 $ 34,208 $ 15,258 $ 18,950
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TABLE 3 - RETURN ON ASSETS (ROA)
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FOR THE YEAR ENDED DECEMBER 31, 2002 (IN THOUSANDS)
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Cash and Short Assets less
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& Long Term (Cash and
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Investments in Short & Long
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Marketable Term
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Total Assets Securities Investments in
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Marketable
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Securities)
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Assets $ 439,910 $ 192,065 $ 247,845
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EBITDA $ 109,652
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EBITDA ROA 44.2%
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Net Income $ 58,974
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Net Income ROA 13.4%
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