Document j7k8djGxMwk3JMQZ0En9KYV2
Company Name - PNEUMOABEX CORP NEW
Filing Date: 12/31/1996
STATEMENTS OF INCOME DATA: Net Sales............................................ Cost of Sales..................................
Gross Profit.................................... SG&A Expenses.................................
Operating Income.......................... Interest income............................ Interest expense.......................... Amortization of debt
issuance costs ....................... Other, net.........................................
Income Before Income Taxes and Extraordinary Loss....
Income Taxes....................................
Income Before * Extraordinary Loss..................
Extraordinary Loss.....................
Net Income.........................................
OTHER DATA: Depreciation expense................ Capital expenditures................ BALANCE SHEET DATA: Cash and cash equivalents.. Inventories...................................... Total assets.................................... Long term debt ............................. Stockholder's equity (deficit)
YEAR ENDED DECEMBER 31,
'DOLLARS IN MILLIONS)
1996
1995
1994
$103.4 57.4
46.0 9.4
36.6 ( .4)
12.5
.9 ; .3)
23.9 9.0
14.9 . 6 (a)
$ 14.3
S 2.0 1.9
$ 3.5 46.3
126.6 91.9 5.0(b)
$103.2 60.0
43.2 9.2
34.0 i .5)
13.5
.9 .3
19.8 7.7
12.1
$ 12.1
$ 1.8 2.-3
$ 8.5 45.5 85.3
118.3 (47.3)
$95.6 57.4
38.2 8.5
29.7 (.2)
14.7
.9
14.1 5.4
8.7 2.7(a)
$ 6.0
S 1.7 1.9
$ 7.6 47.6 85.9
124.0 (51.4)
1993
1992
$92.4 55.3
37.1 9.0
28.1 i.D
15.6
1.1
11.3 4.2
7.1
$ 7.1
S 1.6 1.4
5 1.9 53.3 87.7
131.1 (58.3)
sioo.;
60.4
3 9." 8.9
3C.8 ' C. ,
16,5
1.3 e.
13.0 4.8
8.2 7.6(a'
$ .6
S 1.5 2.0
$ 3.1 44.0 82.6
134.2 (64.8)
(a) Reflects the write-off of deferred financing costs resulting from the refinancing of the long term debt inNovember 1992 and June 1994 and prepayments in 1996.
(b) Reflects the effects of the merger of Mafco Worldwide and Pneumo Abex, a capital contribution of $17 million and the dividends paid of $12.5 million by Mafco Worldwide in 1996.
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ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following discussion should be read in conjunction with the Consolidated Financial Statements and the notes thereto included elsewhere in this Form 10-K. See "Index to Consolidated Financial Statements and Schedule.
GENERAL
The discussion below relates to the consolidated results of operations of Mafco Worldwide prior to November 25, 1996 and the consolidated results of Mafco Worldwide and Pneumo Abex from November 25, 1996.
RESULTS OF OPERATIONS
Disclosure Page 11