SCHEDULE A (Dollars in Thousands, except per share data and ratios)
BIOTECHNICA INTERNATIONAL, INC. For the Years Ended June 30,
1993 1994 1995 1996 1997 1998
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SELECTED BALANCE SHEET ITEMS (Preliminary)
Accounts Receivable $1,454 $8,114 $7,778 $7,964 $7,068 $9,458
Inventory 2,222 7,342 6,927 5,976 8,330 7,761
Current Assets 4,154 18,734 15,209 14,287 15,735 17,711
Current Liabilities 1,007 18,302 12,101 13,390 13,405 14,969
Working Capital 3,147 432 3,108 897 2,330 2,742
Short Term Debt 0 13,900 9,200 8,500 10,900 7,700
Current Maturities LTD 20 164 115 107 31 3,600
Long Term Debt and Preferred Stock 2,261 8,571 12,455 12,292 14,261 15,761
Common Stockholders' Equity 6,657 12,245 9,790 7,105 5,475 2,469
Total Capitalization (LT Debt + Equity) 8,918 20,816 22,245 19,397 19,736 18,230
Total Assets 9,925 39,320 345,002 32,957 33,436 33,630
SELECTED INCOME STATEMENT ITEMS
Sales 8,239 24,587 23,961 18,767 20,085 21,340
Cost of Goods Sold 5,589 17,831 15,432 12,990 12,319 14,158
Gross Profit 2,650 6,756 8,529 5,777 7,766 7,182
Other Income 10 50 272 726 221 231
Interest Expense 55 405 1,068 832 880 966
Depreciation and Amortization Expense 610 1,140 1,553 1,402 1,453 1,439
Selling, General & Administrative Expenses 2,239 5,789 7,538 6,676 6,732 7,387
Other Operating Expenses 0 1,444 2,522 1,695 1,815 1,830
Other Expenses 0 0 0 0 0 225
Pre-Tax Income 366 (832) (2,327) (2,700) (1,440) (2,995)
Taxes 148 0 67 (15) 9 1
Net Income From Continuing Operations 218 (832) (2,394) (2,685) (1,449) (2,996)
Discontinued Operations and/or Extraordinary 84 0 0 0 0 0
Net Income 302 (832) (2,394) (2,685) (1,449) (2,996)
Preferred Stock Dividends 0 0 463 613 675 675
Net Inc. From Cont. Ops. Avail. for Common S 218 (832) (2,857) (3,298) (2,124) (3,671)
Net Income Available for Common Shares 302 (832) (2,857) (3,298) (2,124) (3,671)
EBITDA 1,031 713 294 (466) 893 (590)
SELECTED LIQUIDITY, COVERAGE & LEVERAGE RATIOS
Current Ratio 4.13 1.02 1.26 1.07 1.17 1.18
Collection Period (Days) 64.41 71.02 121.04 153.08 136.59 141.33
Inventory Turnover 2.52 3.73 2.16 2.01 1.72 1.76
Sales/Assets (Avg.) 0.83 1.00 0.12 0.10 0.61 0.64
EBIT/Interest + Preferred Dividends 7.65 -1.05 -0.82 -1.29 -0.36 -1.24
EBITDA/CMLTD+Interest + Preferred Dividends 13.75 1.25 0.18 -0.30 0.56 -0.11
Equity/Assets (Avg.) 0.67 0.38 0.06 0.04 0.19 0.12
Equity/Ttl.Capitalization (Avg.) 0.75 0.64 0.51 0.41 0.32 0.21
SELECTED PROFITABILITY RATIOS
Net Income Cont. Ops. Avail. Com./Sales 2.65% -3.38% -11.92% -17.57% -10.58% -17.20%
Net Income Cont. Ops. Avail. Com./Avg. Equit 3.27% -8.80% -25.93% -39.04% -33.77% -92.42%
Net Income Cont. Ops. Avail. Com./Avg. Asset 2.20% -3.38% -1.49% -1.74% -6.40% -10.95%
Gross Profit/Sales 32.16% 27.48% 35.60% 30.78% 38.67% 33.66%
Operating Expenses/Sales 27.18% 29.42% 41.98% 44.60% 42.55% 43.19%
Taxes/Pre-Tax Income 40.44% 0.00% -2.88% 0.56% -0.63% -0.03%
Selectd Value
SELECTED EARNINGS AND PRICING RATIOS Preliminary Sept 21, 1998
LTM EPS From Continuing Operations $0.00 ($0.01) ($0.02) ($0.03) ($0.02) ($0.04) ($0.04)*
Weighted Average EPS Cont. Ops. (5 Yr.) $0.00 $0.00 *
Forecasted Next Year EPS (6/99) ($0.02)
Fully Diluted EPS (As Reported) $0.00 ($0.01) ($0.02) ($0.03) ($0.02) ($0.04)
Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 *
Dividend Yield 0.00%
Percentage Payout 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Last Twelve Months Sales Per Share $0.08 $0.23 $0.20 $0.16 $0.18 $0.21 $0.21 *
Last Twelve Months EBITDA Per Share $0.01 $0.01 $0.00 ($0.00) $0.01 ($0.01) ($0.01)*
Book Value Per Share $1,331.40 $0.10 $0.08 $0.05 $0.04 $0.00 $0.00 *
Price Per Share $0.05
Invested Capital Per Share $0.34
Price Per Share / LTM EPS - Continuing Operations nmf
Price Per Share / Wt. Avg. EPS Cont. Ops. (5 years) nmf
Price Per Share / Forecasted EPS nmf
Price Per Share / Book Value Per Share nmf
Price Per Share / Sales Per Share (LTM) 0.24 x
Price Per Share / EBITDA Per Share (LTM) nmf
Invested Capital Per Share / Sales Per Share (LTM) 1.63 x
Invested Capital Per Share / EBITDA Per Share (LTM) nmf
End of Period Shares Outstanding 5,000 121,434,379 115,379,628 115,379,628 104,055,577 103,055,577
Weighted Average Shares Outstanding 97,777,000 107,435,000 121,385,000 115,379,628 114,635,033 103,650,098
SELECTED GROWTH RATE CALCULATIONS
CAGR in Assets (1,2,3,4,5 Yrs.) 296.17% 489.58% 49.19% 35.48% 27.64%
CAGR in Sales (1,2,3,4,5 Yrs.) 198.42% 70.54% 31.58% 24.95% 20.97%
CAGR in F.D. EPS Cont. Ops. (1,2,3,4,5 Yrs.) nmf nmf nmf nmf nmf
EPS Cont. Ops. (5 Year Average) ($0.02)
EPS Cont. Ops. (5 Year Standard Deviation) $0.01
CAGR in F.D. EPS (1,2,3,4,5 Yrs.) nmf nmf nmf nmf nmf
EPS (5 Year Average) ($0.02)
EPS (5 Year Standard Deviation) $0.01
EPS Cont. Ops. - Earnings per share before discontinued
operations and/or extraordinary and nonrecurring items
nmf - Not meaningful
n/a - Not available
* As of 6/30/98