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Segment Results - 4th Quarter Fiscal Year 2004
(in thousands of $’s, except per share data)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | ||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | |
| Sales | 37,993 | 38,264 | 42,541 | 42,459 | 161,257 | 100% | 3,445 | 4,964 | 4,804 | 3,033 | 16,246 |
| Costof sales | 8,663 | 8,441 | 8,946 | 8,837 | 34,887 | 22% | (27) | 70 | 190 | (742) | (509) |
| Gross margin | 29,330 | 29,823 | 33,595 | 33,622 | 126,370 | 78% | 3,472 | 4,894 | 4,614 | 3,775 | 16,755 |
| Gross margin percentage | 77.2% | 77.9% | 79.0% | 79.2% | 78.4% | ||||||
| SG&A expense | 5,083 | 5,519 | 5,456 | 5,667 | 21,725 | 14% | 132 | 618 | 750 | 848 | 2,348 |
| R&D expense | 4,963 | 5,450 | 5,082 | 5,278 | 20,773 | 13% | 130 | 471 | (204) | (205) | 192 |
| Amortization expense | 400 | 399 | 400 | 400 | 1,599 | 1% | (84) | (86) | (85) | (85) | (340) |
| Interest expense | 175 | 172 | 167 | 164 | 678 | -- | (148) | (124) | (11) | (13) | (296) |
| Interest income | (726) | (762) | (853) | (910) | (3,251) | (2%) | 64 | (58) | (121) | (203) | (318) |
| Impairment loss on equity investment in DGI | -- | -- | -- | 1,523 | 1,523 | 1% | -- | -- | -- | 1,523 | 1,523 |
| Othernon-operating exp., net | 78 | 20 | 415 | 269 | 782 | -- | (72) | 36 | 475 | 221 | 660 |
| 9,973 | 10,798 | 10,667 | 12,391 | 43,829 | 27% | 22 | 857 | 804 | 2,086 | 3,769 | |
| Earnings before income taxes | 19,357 | 19,025 | 22,928 | 21,231 | 82,541 | 51% | 3,450 | 4,037 | 3,810 | 1,689 | 12,986 |
| Income taxes | 6,785 | 6,655 | 8,309 | 7,864 | 29,613 | 18% | 1,323 | 1,548 | 1,585 | 998 | 5,454 |
| 12,572 | 12,370 | 14,619 | 13,367 | 52,928 | 33% | 2,127 | 2,489 | 2,225 | 691 | 7,532 | |
| Diluted earnings per share | 0.30 | 0.30 | 0.35 | 0.32 | 1.27 | ||||||
| Weighted average diluted shares outstanding | 41,600 | 41,653 | 41,752 | 41,785 | 41,697 | ||||||
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(in thousands of $’s)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | ||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quartter |
Fourth Quarter |
YTD | |
| Sales | 4,281 | 4,454 | 4,069 | 4,674 | 17,478 | 100% | 507 | 468 | 72 | (235) | 812 |
| Cost of sales | 2,346 | 2,344 | 2,234 | 2,487 | 9,411 | 54% | 209 | 232 | 53 | 113 | 607 |
| Gross margin | 1,935 | 2,110 | 1,835 | 2,187 | 8,067 | 46% | 298 | 236 | 19 | (348) | 205 |
| Gross margin percentage | 45.2% | 47.4% | 45.1% | 46.8% | 46.2% | ||||||
| SG&A expense | 391 | 383 | 439 | 484 | 1,697 | 10% | (9) | 16 | 74 | 109 | 190 |
| R&D expense | 191 | 190 | 203 | 197 | 781 | 4% | 18 | (3) | 4 | (8) | 11 |
| Interest income | (77) | (74) | (79) | (82) | (312) | (2%) | 24 | 9 | 8 | 0 | 41 |
| 505 | 499 | 563 | 599 | 2,166 | 12% | 33 | 22 | 86 | 101 | 242 | |
| Pretax result | 1,430 | 1,611 | 1,272 | 1,588 | 5,901 | 34% | 265 | 214 | (67) | (449) | (37) |
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(in thousands of $’s)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | ||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | |
| Sales | 28,653 | 27,766 | 31,214 | 31,435 | 119,068 | 100% | 2,016 | 2,811 | 2,697 | 2,449 | 9,973 |
| Intersegment sales | (4,621) | (4,967) | (5,145) | (4,953) | (19,686) | (471) | (466) | (270) | (348) | (1,555) | |
| 24,032 | 22,799 | 26,069 | 26,482 | 99,382 | 1,545 | 2,345 | 2,427 | 2,101 | 8,418 | ||
| Cost of sales | 5,916 | 5,530 | 6,121 | 5,774 | 23,341 | 20% | 191 | 70 | 429 | (292) | 398 |
| Intersegment sales | (4,521) | (4,894) | (5,140) | (4,897) | (19,452) | (371) | (411) | (272) | (290) | (1,344) | |
| 1,395 | 636 | 981 | 877 | 3,889 | (180) | (341) | 157 | (582) | (946) | ||
| Gross margin | 22,637 | 22,163 | 25,088 | 25,605 | 95,493 | 80% | 1,725 | 2,686 | 2,270 | 2,683 | 9,364 |
| Gross margin percentage | 79.4% | 80.1% | 80.4% | 81.6% | 80.4% | ||||||
| SG&A expense | 2,651 | 2,949 | 2,917 | 3,244 | 11,761 | 10% | (61) | 109 | 271 | 617 | 936 |
| R&D expense | 4,164 | 4,307 | 4,290 | 4,378 | 17,139 | 14% | 201 | 180 | 127 | 8 | 516 |
| Amortization expense | 400 | 399 | 400 | 400 | 1,599 | 1% | (84) | (86) | (85) | (85) | (340) |
| Interest income | (406) | (388) | 411) | (431) | (1,636) | (1%) | 85 | 19 | 14 | (28) | 90 |
| 6,809 | 7,267 | 7,196 | 7,591 | 28,863 | 24% | 141 | 222 | 327 | 512 | 1,202 | |
| Pretax result | 15,828 | 14,896 | 17,892 | 18,014 | 66,630 | 56% | 1,584 | 2,464 | 1,943 | 2,171 | 8,162 |
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(in thousands of £'s)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | ||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | |
| Sales | 5,980 | 6,365 | 6,721 | 6,284 | 25,350 | 100% | 663 | 732 | 397 | 56 | 1,848 |
| Intersegment sales | -- | -- | -- | -- | -- | 9 | 6 | 8 | 2 | 25 | |
| 5,980 | 6,365 | 6,721 | 6,284 | 25,350 | 672 | 738 | 405 | 58 | 1,873 | ||
| Cost of sales | 3,040 | 3,157 | 3,107 | 3,022 | 12,326 | 49% | (157) | (203) | (498) | (505) | 1,363) |
| Gross margin | 2,940 | 3,208 | 3,614 | 3,262 | 13,024 | 51% | 820 | 935 | 895 | 561 | 3,211 |
| Gross margin percentage | 49.2% | 50.4% | 53.8% | 51.9% | 51.4% | ||||||
| SG&A expense | 1,050 | 1,092 | 978 | 987 | 4,107 | 16% | 17 | 101 | 13 | (16) | 115 |
| Interest income | (127) | (150) | (175) | (202) | (654) | (3%) | (23) | (35) | (60) | (87) | (205) |
| Exchange loss/(gain) | (49) | (73) | 46 | 40 | (36) | -- | (80) | 6 | 171 | 91 | 188 |
| 874 | 869 | 849 | 825 | 3,417 | 13% | (86) | 72 | 124 | (12) | 98 | |
| Pretax result | 2,066 | 2,339 | 2,765 | 2,437 | 9,607 | 38% | 906 | 863 | 771 | 573 | 3,113 |
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(in thousands of $’s)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | ||||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | Percent Of Sales |
First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | |
| Sales | 9,680 | 11,011 | 12,403 | 11,303 | 44,397 | 100% | 1,379 | 2,142 | 2,291 | 1,164 | 6,976 |
| Intersegment sales | -- | -- | -- | -- | -- | 14 | 9 | 14 | 3 | 40 | |
| 9,680 | 11,011 | 12,403 | 11,303 | 44,397 | 1,393 | 2,151 | 2,305 | 1,167 | 7,016 | ||
| Cost of sales | 4,922 | 5,461 | 5,731 | 5,473 | 21,587 | 49% | (70) | 170 | (34) | (276) | (210) |
| Gross margin | 4,758 | 5,550 | 6,672 | 5,830 | 22,810 | 51% | 1,449 | 1,972 | 2,325 | 1,440 | 7,186 |
| Gross margin percentage | 49.2% | 50.4% | 53.8% | 51.6% | 51.4% | ||||||
| SG&A expense | 1,699 | 1,891 | 1,805 | 1,799 | 7,194 | 16% | 87 | 328 | 261 | 163 | 839 |
| Interest income | (206) | (260) | (323) | (357) | (1,146) | (3%) | (43) | (80) | (138) | (171) | (432) |
| Exchange loss/(gain) | (84) | (129) | 85 | 65 | (63) | -- | (133) | (1) | 285 | 142 | 293 |
| 1,409 | 1,502 | 1,567 | 1,507 | 5,985 | 13% | (89) | 247 | 408 | 134 | 700 | |
| Pretax result | 3,349 | 4,048 | 5,105 | 4,323 | 16,825 | 38% | 1,538 | 1,725 | 1,917 | 1,306 | 6,486 |
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(in thousands of $’s)
| Fiscal 2004 | Increase(Decrease) From Fiscal 2003 | |||||||||
| First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | First Quarter |
Second Quarter |
Third Quarter |
Fourth Quarter |
YTD | |
| Interest income | 37 | 40 | 40 | 40 | 157 | 2 | 6 | 5 | 4 | 17 |
| Rental income | 19 | 46 | 20 | 47 | 132 | 19 | 40 | 1 | 0 | 60 |
| 56 | 86 | 60 | 87 | 289 | 21 | 46 | 6 | 4 | 77 | |
| SG&A expense | 342 | 296 | 295 | 140 | 1,073 | 115 | 165 | 144 | (41) | 383 |