Glassmaster Financial Table
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Brunswick Technologies, Inc.
Summary Financial Information
(in thousands except share data)
December 31, December 31,
1999 1998
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 173 $ 796
Accounts receivable, net of allowance
for doubtful accounts of $130 in
1999 and $125 in 1998 5,766 6,056
Inventories 7,730 4,807
Refundable income taxes 221 27
Deferred income taxes 348 274
Other current assets 269 531
Total current assets 14,507 12,491
Property, plant and equipment
Land and building 1,136 974
Furniture and fixtures 637 535
Leasehold improvements 133 116
Machinery and equipment 12,503 10,284
Machine under construction 383 280
Vehicles 106 92
Management information system 518 395
15,416 12,676
Less accumulated depreciation and
amortization (4,000) (2,877)
Net property, plant and equipment 11,416 9,799
Due from shareholder 113 111
Other assets, including investment in
Euro-Technology (net of accumulated 2,048 2,182
amortization of $289 in 1999 and
$128 in 1998
Goodwill, net of accumulated amortization
of $864 in 1999 and $581 in 1998 4,770 5,056
Total assets $ 32,854 $ 29,639
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Book overdraft $ 1,351 $ 474
Note payable - bank -- 261
Current installments of long-term debt 118 111
Due to stockholder -- 226
Accounts payable 2,085 1,876
Accrued expenses 969 580
Income taxes payable 335 --
Total current liabilities 4,858 3,528
Long-term debt, excluding current installments -- 139
Deferred income taxes 1,268 1,034
Shareholders' equity:
Common stock, $0.0001 par value;
20,000,000 shares authorized,
5,210,891 outstanding in 1999 and
5,186,889 outstanding in 1998 1 1
Additional paid in capital 24,969 24,837
Treasury stock at cost; 3,300 shares
in 1999 and 1998 (5) (5)
Cumulative translation adjustment (71) 41
Retained earnings 1,834 64
Total shareholders' equity 26,728 24,938
Total liabilities and
shareholders' equity $ 32,854 $ 29,639
The notes to the financial statements can be found in the
Company's Annual 10-K report to be filed with the SEC.
Brunswick Technologies, Inc.
Summary Financial Information
(in thousands except share data)
For the Three Months Ending For the Twelve Months Ending
December 31, December 31,
1999 1998 1999 1998
(Unaudited) (Unaudited)
Net sales $ 10,462 100% $ 11,097 100% $ 44,684 100% $ 41,422 100%
Cost of goods
sold 8,255 79% 8,766 79% 34,668 78% 32,224 78%
Gross profit 2,207 21% 2,331 21% 10,016 22% 9,198 22%
Selling, general
and administrative
expenses 1,447 14% 1,723 16% 6,760 15% 6,622 16%
Research and
development
expenses 191 2% 185 2% 776 2% 612 1%
Operating
income 569 5% 423 4% 2,480 6% 1,964 5%
Other income
(expense):
Interest income 19 0% 15 0% 70 0% 96 0%
Interest expense (8) 0% (1) 0% (17) 0% - 0%
Miscellaneous,
net 95 1% 88 1% 223 0% 326 1%
106 1% 102 1% 276 1% 422 1%
Income before
income tax 675 6% 525 5% 2,756 6% 2,386 6%
Income tax expense 237 2% 172 2% 986 2% 839 2%
Net income 438 4% 353 3% 1,770 4% 1,548 4%
Basic:
Earnings per
share $ 0.08 $ 0.07 $ 0.34 $ 0.30
Weighted
average
common shares
outstanding 5,210 5,173 5,199 5,164
Diluted:
Earnings
per share $ 0.08 $ 0.07 $ 0.33 $ 0.28
Weighted
average
common shares
outstanding 5,421 5,414 5,424 5,438
The notes to the financial statements can be found in the
Company's Annual 10-K report to be filed with the SEC.
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