SCHEDULE A (Dollars in Thousands, except per share data and ratios)
For the Six Months
CONSEP, INC. For the Years Ended December 31, Ended June 30, Sep 21
1992 1993 1994 1995 1996 1997 1997 1998 1998
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SELECTED BALANCE SHEET ITEMS (Unaudited)
Accounts Receivable $3,797 $3,602 $4,734 $9,926
Inventory 8,012 7,994 9,316 9,988
Current Assets 14,433 15,405 16,565 21,394
Current Liabilities 5,649 7,972 8,293 13,332
Working Capital 7,435 1,973 6,862 8,784 7,433 8,272 8,063
Short Term Debt 1,711 1,170 1,493 3,975
Current Maturities LTD 444 347 559 496
Long Term Debt and Preferred S 1,496 1,273 689 951 1,191 2,168 2,062
Common Stockholders' Equity 10,636 6,489 12,440 14,681 17,010 15,217 15,147
Total Capitalization 12,132 7,762 13,129 15,632 18,201 17,385 17,209
Total Assets 16,003 13,840 19,653 21,559 23,411 25,678 30,541
SELECTED INCOME STATEMENT ITEMS
Sales 17,830 21,274 25,120 30,844 33,229 39,204 13,780 13,155
Cost of Goods Sold 19,816 23,094 25,242 29,787 10,045 9,946
Gross Profit 5,304 7,750 7,987 9,417 3,735 3,210
Other Income 336 304 359 467 177 20
Interest Expense 269 284 324 425 127 160
Deprec and Amort Exp 816 882 1,072 1,172 574 636
Sell, Gen & Adm Exp 8,544 7,997 9,051 10,078 2,254 1,374
Other Operating Exp 2,592 1,059 1,454 1,204 1,220 1,439
Other Expenses 85 0 0 0 0 7
Pre-Tax Income (5,849) (1,286) (2,483) (1,822) 311 250
Taxes 0 0 0 0 0 0
Net Income From Cont Ops (3,257) (4,126) (5,849) (1,286) (2,483) (1,822) 311 250
Disc Ops / Extrao Items 0 0 0 0 0 0 0 0
Net Income (3,257) (4,126) (5,849) (1,286) (2,483) (1,822) 311 250
EBITDA (4,764) (120) (1,087) (226) 1,012 1,046
SELECTED LIQUIDITY, COVERAGE & LEVERAGE RATIOS
Current Ratio 2.55 1.93 2.00 1.60
Collection Period (Days) 44.94 40.64 38.80 * 69.35 *
Inventory Turnover 2.88 3.15 3.44 * 3.08 *
Sales/Assets (Avg.) 1.11 1.43 1.50 1.50 1.48 1.60 * 1.37 *
EBIT/Interest -20.71 -3.52 -6.66 -3.29 * -3.11 *
EBITDA/CMLTD+Interest -0.16 -1.62 -0.23 * -0.20 *
Equity/Assets (Avg.) 0.66 0.57 0.57 0.66 0.70 0.66 0.54
Equity/Ttl.Capitalization (Avg 0.88 0.86 0.91 0.94 0.94 0.91 0.88
SELECTED PROFITABILITY RATIOS
Net Income Cont. Ops./Sales -18.27% -19.39% -23.29% -4.17% -7.47% -4.65% * -4.88%*
Net Income Cont. Ops./Avg. Equ -30.62% -48.19% -61.80% -9.48% -15.67% -11.31% * -12.40%*
Net Income Cont. Ops./Avg. Ass -20.35% -27.65% -34.93% -6.24% -11.04% -7.42% * -6.70%*
Gross Profit/Sales 21.11% 25.13% 24.04% 24.02% 27.10% 24.40%
Operating Expenses/Sales 44.33% 29.36% 31.61% 28.78% 25.21% 21.38%
Taxes/Pre-Tax Income 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SELECTED EARNINGS AND PRICING RATIOS (Unaudited)
LTM EPS From Continuing Operations ($1.01) ($0.97) ($0.19) ($0.31) ($0.19) $.019) ($0.19)**
Weighted Average EPS Cont. Ops. (5 Yr.) $0.00 0.00***
Forecasted Next Year EPS (12/98) ($0.12)
Fully Diluted EPS (As Reported) ($1.01) ($0.97) ($0.19) ($0.31) ($0.19) $0.03 $0.03
Dividend Per Share $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00****
Dividend Yield 0.00% 0.00%
Percentage Payout 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Last Twelve Months Sales Per Share $4.19 $4.56 $4.17 $4.15 $3.98 $3.98**
Last Twelve Months EBITDA Per Share ($0.79) ($0.02) ($0.14) ($0.02) ($0.02) ($0.02)**
Book Value Per Share $1.94 $1.80 $1.61 $1.57 $1.57**
Price Per Share $1.50 $0.94
Invested Capital Per Share $1.95 $1.61
Price Per Share / LTM EPS - Continuing Operations nmf nmf
Price Per Share / Wt. Avg. EPS Cont. Ops. (5 years) nmf nmf
Price Per Share / Forecasted EPS nmf
Price Per Share / Book Value Per Share 0.93 x 0.60 x
Price Per Share / Sales Per Share (LTM) 0.36 x 0.24 x
Price Per Share / EBITDA Per Share (LTM) nmf nmf
Invested Capital Per Share / Sales Per Share (LTM) 0.47 x 0.41 x
Invested Capital Per Share / EBITDA Per Share (LTM) nmf nmf
End of Period Shares Outstanding 7,569,537 9,431,203 9,460,151 9,657,664
Weighted Average Shares Outstanding 6,001,863 6,761,623 7,963,358 9,450,963 9,537,979 9,683,674
SELECTED GROWTH RATE CALCULATIONS
CAGR in Assets (1,2,3,4,5 Yrs.) -13.52% 10.82% 10.44% 9.98% 9.92%
CAGR in Sales (1,2,3,4,5 Yrs.) 19.32% 18.70% 20.04% 16.84% 17.07%
CAGR in F.D. EPS Cont. Ops. (1,2,3,4,5 Yrs nmf nmf nmf nmf nmf
EPS Cont. Ops. (5 Year Average) ($0.53)
EPS Cont. Ops. (5 Year Standard Deviation) $0.38
CAGR in F.D. EPS (1,2,3,4,5 Yrs.) nmf nmf nmf nmf nmf
EPS (5 Year Average) ($0.53)
EPS (5 Year Standard Deviation) $0.38
EPS Cont. Ops. - Earnings per share before discontinued
operations and/or extraordinary and nonrecurring items
nmf - Not meaningful
n/a - Not available
* Annualized
** As of 6/30/98
*** As of 12/31/97
**** Indicated dividend rate