Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
(17) Financial
Information About the Parent, the Issuer and the
Guarantors
On
September 27, 2005, Global (the "Issuer") issued $200
million aggregate principal amount of Senior Notes which
have been guaranteed on a senior basis by Interiors (the
"Parent"), and other wholly owned domestic subsidiaries of
the Issuer and the Parent, including Ethan Allen Retail,
Inc., Ethan Allen Operations, Inc., Ethan Allen Realty,
LLC, Lake Avenue Associates, Inc. and Manor House, Inc. The
subsidiary guarantors (other than the Parent) are
collectively called the "Guarantors". The guarantees of the
Guarantors are unsecured. All of the guarantees are full,
unconditional and joint and several and the Issuer and each
of the Guarantors are 100% owned by the Parent. Our other
subsidiaries which are not guarantors are called the
"Non-Guarantors".
The
following tables set forth the condensed consolidating
balance sheets as of March 31, 2012 and June 30, 2011, the
condensed consolidating statements of operations for the
three and nine months ended March 31, 2012 and 2011, and
the condensed consolidating statements of cash flows for
the nine months ended March 31, 2012 and 2011 of the
Parent, the Issuer, the Guarantors and the
Non-Guarantors.
CONDENSED
CONSOLIDATING BALANCE SHEET
(In
thousands)
March
31, 2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents
|
|
$
|
-
|
|
|
$
|
61,042
|
|
|
$
|
9,381
|
|
|
$
|
2,707
|
|
|
$
|
-
|
|
|
$
|
73,130
|
|
Marketable
securities
|
|
|
-
|
|
|
|
11,259
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
11,259
|
|
Accounts
receivable, net
|
|
|
-
|
|
|
|
17,019
|
|
|
|
552
|
|
|
|
-
|
|
|
|
-
|
|
|
|
17,571
|
|
Inventories
|
|
|
-
|
|
|
|
-
|
|
|
|
168,992
|
|
|
|
4,717
|
|
|
|
(31,447
|
)
|
|
|
142,262
|
|
Prepaid
expenses and other current assets
|
|
|
-
|
|
|
|
6,948
|
|
|
|
14,552
|
|
|
|
2,709
|
|
|
|
-
|
|
|
|
24,209
|
|
Intercompany
receivables
|
|
|
-
|
|
|
|
820,578
|
|
|
|
267,656
|
|
|
|
(9,029
|
)
|
|
|
(1,079,205
|
)
|
|
|
-
|
|
Total
current assets
|
|
|
-
|
|
|
|
916,846
|
|
|
|
461,133
|
|
|
|
1,104
|
|
|
|
(1,110,652
|
)
|
|
|
268,431
|
|
Property,
plant and equipment, net
|
|
|
-
|
|
|
|
8,501
|
|
|
|
274,047
|
|
|
|
14,663
|
|
|
|
-
|
|
|
|
297,211
|
|
Goodwill
and other intangible assets
|
|
|
-
|
|
|
|
37,905
|
|
|
|
7,223
|
|
|
|
-
|
|
|
|
-
|
|
|
|
45,128
|
|
Restricted
cash and investments
|
|
|
-
|
|
|
|
15,410
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
15,410
|
|
Other
assets
|
|
|
-
|
|
|
|
6,445
|
|
|
|
806
|
|
|
|
-
|
|
|
|
-
|
|
|
|
7,251
|
|
Investment
in affiliated companies
|
|
|
645,567
|
|
|
|
(106,422
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(539,145
|
)
|
|
|
-
|
|
Total
assets
|
|
$
|
645,567
|
|
|
$
|
878,685
|
|
|
$
|
743,209
|
|
|
$
|
15,767
|
|
|
$
|
(1,649,797
|
)
|
|
$
|
633,431
|
|
Liabilities
and Shareholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
maturities of long-term debt
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
192
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
192
|
|
Customer
deposits
|
|
|
-
|
|
|
|
-
|
|
|
|
59,040
|
|
|
|
2,472
|
|
|
|
-
|
|
|
|
61,512
|
|
Accounts
payable
|
|
|
-
|
|
|
|
8,949
|
|
|
|
17,382
|
|
|
|
324
|
|
|
|
-
|
|
|
|
26,655
|
|
Accrued
expenses and other current liabilities
|
|
|
2,163
|
|
|
|
37,238
|
|
|
|
15,156
|
|
|
|
1,018
|
|
|
|
-
|
|
|
|
55,575
|
|
Intercompany
payables
|
|
|
325,684
|
|
|
|
327
|
|
|
|
743,874
|
|
|
|
9,320
|
|
|
|
(1,079,205
|
)
|
|
|
-
|
|
Total
current liabilities
|
|
|
327,847
|
|
|
|
46,514
|
|
|
|
835,644
|
|
|
|
13,134
|
|
|
|
(1,079,205
|
)
|
|
|
143,934
|
|
Long-term
debt
|
|
|
-
|
|
|
|
152,955
|
|
|
|
1,103
|
|
|
|
-
|
|
|
|
-
|
|
|
|
154,058
|
|
Other
long-term liabilities
|
|
|
-
|
|
|
|
3,789
|
|
|
|
13,843
|
|
|
|
87
|
|
|
|
-
|
|
|
|
17,719
|
|
Total
liabilities
|
|
|
327,847
|
|
|
|
203,258
|
|
|
|
850,590
|
|
|
|
13,221
|
|
|
|
(1,079,205
|
)
|
|
|
315,711
|
|
Shareholders’
equity
|
|
|
317,720
|
|
|
|
675,427
|
|
|
|
(107,381
|
)
|
|
|
2,546
|
|
|
|
(570,592
|
)
|
|
|
317,720
|
|
Total
liabilities and shareholders’ equity
|
|
$
|
645,567
|
|
|
$
|
878,685
|
|
|
$
|
743,209
|
|
|
$
|
15,767
|
|
|
$
|
(1,649,797
|
)
|
|
$
|
633,431
|
|
CONDENSED
CONSOLIDATING BALANCE SHEET
(In
thousands)
June 30, 2011
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents
|
|
$
|
-
|
|
|
$
|
69,763
|
|
|
$
|
7,716
|
|
|
$
|
1,040
|
|
|
$
|
-
|
|
|
$
|
78,519
|
|
Marketable
securities
|
|
|
-
|
|
|
|
12,909
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
12,909
|
|
Accounts
receivable, net
|
|
|
-
|
|
|
|
13,609
|
|
|
|
174
|
|
|
|
1,253
|
|
|
|
-
|
|
|
|
15,036
|
|
Inventories
|
|
|
-
|
|
|
|
-
|
|
|
|
164,938
|
|
|
|
4,554
|
|
|
|
(27,800
|
)
|
|
|
141,692
|
|
Prepaid
expenses and other current assets
|
|
|
-
|
|
|
|
4,598
|
|
|
|
14,866
|
|
|
|
908
|
|
|
|
-
|
|
|
|
20,372
|
|
Intercompany
receivables
|
|
|
-
|
|
|
|
784,285
|
|
|
|
249,461
|
|
|
|
(8,423
|
)
|
|
|
(1,025,323
|
)
|
|
|
-
|
|
Total
current assets
|
|
|
-
|
|
|
|
885,164
|
|
|
|
437,155
|
|
|
|
(668
|
)
|
|
|
(1,053,123
|
)
|
|
|
268,528
|
|
Property,
plant and equipment, net
|
|
|
-
|
|
|
|
8,023
|
|
|
|
276,057
|
|
|
|
10,773
|
|
|
|
-
|
|
|
|
294,853
|
|
Goodwill
and other intangible assets
|
|
|
-
|
|
|
|
37,905
|
|
|
|
7,223
|
|
|
|
-
|
|
|
|
-
|
|
|
|
45,128
|
|
Restricted
cash and investments
|
|
|
-
|
|
|
|
16,391
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
16,391
|
|
Other
assets
|
|
|
-
|
|
|
|
2,700
|
|
|
|
725
|
|
|
|
-
|
|
|
|
-
|
|
|
|
3,425
|
|
Investment
in affiliated companies
|
|
|
602,699
|
|
|
|
(93,132
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(509,567
|
)
|
|
|
-
|
|
Total
assets
|
|
$
|
602,699
|
|
|
$
|
857,051
|
|
|
$
|
721,160
|
|
|
$
|
10,105
|
|
|
$
|
(1,562,690
|
)
|
|
$
|
628,325
|
|
Liabilities
and Shareholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
maturities of long-term debt
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
19
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
19
|
|
Customer
deposits
|
|
|
-
|
|
|
|
-
|
|
|
|
59,633
|
|
|
|
3,016
|
|
|
|
-
|
|
|
|
62,649
|
|
Accounts
payable
|
|
|
-
|
|
|
|
7,333
|
|
|
|
19,233
|
|
|
|
392
|
|
|
|
-
|
|
|
|
26,958
|
|
Accrued
expenses and other current liabilities
|
|
|
2,130
|
|
|
|
43,212
|
|
|
|
18,746
|
|
|
|
902
|
|
|
|
-
|
|
|
|
64,990
|
|
Intercompany
payables
|
|
|
318,882
|
|
|
|
597
|
|
|
|
702,748
|
|
|
|
3,096
|
|
|
|
(1,025,323
|
)
|
|
|
-
|
|
Total
current liabilities
|
|
|
321,012
|
|
|
|
51,142
|
|
|
|
800,379
|
|
|
|
7,406
|
|
|
|
(1,025,323
|
)
|
|
|
154,616
|
|
Long-term
debt
|
|
|
-
|
|
|
|
164,832
|
|
|
|
181
|
|
|
|
-
|
|
|
|
-
|
|
|
|
165,013
|
|
Other
long-term liabilities
|
|
|
-
|
|
|
|
4,392
|
|
|
|
14,474
|
|
|
|
109
|
|
|
|
-
|
|
|
|
18,975
|
|
Deferred
income taxes
|
|
|
-
|
|
|
|
8,034
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
8,034
|
|
Total
liabilities
|
|
|
321,012
|
|
|
|
228,400
|
|
|
|
815,034
|
|
|
|
7,515
|
|
|
|
(1,025,323
|
)
|
|
|
346,638
|
|
Shareholders’
equity
|
|
|
281,687
|
|
|
|
628,651
|
|
|
|
(93,874
|
)
|
|
|
2,590
|
|
|
|
(537,367
|
)
|
|
|
281,687
|
|
Total
liabilities and shareholders’ equity
|
|
$
|
602,699
|
|
|
$
|
857,051
|
|
|
$
|
721,160
|
|
|
$
|
10,105
|
|
|
$
|
(1,562,690
|
)
|
|
$
|
628,325
|
|
CONDENSED
CONSOLIDATING STATEMENT OF OPERATIONS
(In
thousands)
Three months ended March 31,
2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
121,425
|
|
|
$
|
191,275
|
|
|
$
|
7,971
|
|
|
$
|
(144,810
|
)
|
|
$
|
175,861
|
|
Cost
of sales
|
|
|
-
|
|
|
|
89,850
|
|
|
|
127,738
|
|
|
|
4,704
|
|
|
|
(140,706
|
)
|
|
|
81,586
|
|
Gross
profit
|
|
|
-
|
|
|
|
31,575
|
|
|
|
63,537
|
|
|
|
3,267
|
|
|
|
(4,104
|
)
|
|
|
94,275
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling,
general and administrative expenses
|
|
|
45
|
|
|
|
11,969
|
|
|
|
70,748
|
|
|
|
3,710
|
|
|
|
-
|
|
|
|
86,472
|
|
Restructuring
and impairment charge, (credit) net
|
|
|
-
|
|
|
|
-
|
|
|
|
16
|
|
|
|
-
|
|
|
|
-
|
|
|
|
16
|
|
Total
operating expenses
|
|
|
45
|
|
|
|
11,969
|
|
|
|
70,764
|
|
|
|
3,710
|
|
|
|
-
|
|
|
|
86,488
|
|
Operating
income (loss)
|
|
|
(45
|
)
|
|
|
19,606
|
|
|
|
(7,227
|
)
|
|
|
(443
|
)
|
|
|
(4,104
|
)
|
|
|
7,787
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
and other miscellaneous income, net
|
|
|
27,593
|
|
|
|
(6,598
|
)
|
|
|
66
|
|
|
|
(36
|
)
|
|
|
(20,868
|
)
|
|
|
157
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
2,180
|
|
|
|
9
|
|
|
|
-
|
|
|
|
-
|
|
|
|
2,189
|
|
Income
before income tax expense
|
|
|
27,548
|
|
|
|
10,828
|
|
|
|
(7,170
|
)
|
|
|
(479
|
)
|
|
|
(24,972
|
)
|
|
|
5,755
|
|
Income
tax expense
|
|
|
-
|
|
|
|
(20,869
|
)
|
|
|
(947
|
)
|
|
|
23
|
|
|
|
-
|
|
|
|
(21,793
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
$
|
27,548
|
|
|
$
|
31,697
|
|
|
$
|
(6,223
|
)
|
|
$
|
(502
|
)
|
|
$
|
(24,972
|
)
|
|
$
|
27,548
|
|
Three months ended March
31, 2011
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
104,481
|
|
|
$
|
167,548
|
|
|
$
|
6,692
|
|
|
$
|
(115,899
|
)
|
|
$
|
162,822
|
|
Cost
of sales
|
|
|
-
|
|
|
|
78,061
|
|
|
|
112,671
|
|
|
|
3,641
|
|
|
|
(114,620
|
)
|
|
|
79,753
|
|
Gross
profit
|
|
|
-
|
|
|
|
26,420
|
|
|
|
54,877
|
|
|
|
3,051
|
|
|
|
(1,279
|
)
|
|
|
83,069
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling,
general and administrative expenses
|
|
|
45
|
|
|
|
10,330
|
|
|
|
64,404
|
|
|
|
3,424
|
|
|
|
-
|
|
|
|
78,203
|
|
Restructuring
and impairment charge, (credit) net
|
|
|
-
|
|
|
|
-
|
|
|
|
109
|
|
|
|
-
|
|
|
|
-
|
|
|
|
109
|
|
Total
operating expenses
|
|
|
45
|
|
|
|
10,330
|
|
|
|
64,513
|
|
|
|
3,424
|
|
|
|
-
|
|
|
|
78,312
|
|
Operating
income (loss)
|
|
|
(45
|
)
|
|
|
16,090
|
|
|
|
(9,636
|
)
|
|
|
(373
|
)
|
|
|
(1,279
|
)
|
|
|
4,757
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
and other miscellaneous income, net
|
|
|
3,563
|
|
|
|
(8,956
|
)
|
|
|
(1
|
)
|
|
|
(1
|
)
|
|
|
6,523
|
|
|
|
1,128
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
2,698
|
|
|
|
75
|
|
|
|
-
|
|
|
|
-
|
|
|
|
2,773
|
|
Income
before income tax expense
|
|
|
3,518
|
|
|
|
4,436
|
|
|
|
(9,712
|
)
|
|
|
(374
|
)
|
|
|
5,244
|
|
|
|
3,112
|
|
Income
tax expense
|
|
|
-
|
|
|
|
(406
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(406
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
$
|
3,518
|
|
|
$
|
4,842
|
|
|
$
|
(9,712
|
)
|
|
$
|
(374
|
)
|
|
$
|
5,244
|
|
|
$
|
3,518
|
|
CONDENSED
CONSOLIDATING STATEMENT OF OPERATIONS
(In
thousands)
Nine months ended March 31,
2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
343,988
|
|
|
$
|
582,651
|
|
|
$
|
25,399
|
|
|
$
|
(407,981
|
)
|
|
$
|
544,057
|
|
Cost
of sales
|
|
|
-
|
|
|
|
256,237
|
|
|
|
387,435
|
|
|
|
14,340
|
|
|
|
(404,334
|
)
|
|
|
253,678
|
|
Gross
profit
|
|
|
-
|
|
|
|
87,751
|
|
|
|
195,216
|
|
|
|
11,059
|
|
|
|
(3,647
|
)
|
|
|
290,379
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling,
general and administrative expenses
|
|
|
135
|
|
|
|
34,427
|
|
|
|
209,903
|
|
|
|
10,546
|
|
|
|
-
|
|
|
|
255,011
|
|
Restructuring
and impairment charge, (credit) net
|
|
|
-
|
|
|
|
-
|
|
|
|
5
|
|
|
|
-
|
|
|
|
-
|
|
|
|
5
|
|
Total
operating expenses
|
|
|
135
|
|
|
|
34,427
|
|
|
|
209,908
|
|
|
|
10,546
|
|
|
|
-
|
|
|
|
255,016
|
|
Operating
income (loss)
|
|
|
(135
|
)
|
|
|
53,324
|
|
|
|
(14,692
|
)
|
|
|
513
|
|
|
|
(3,647
|
)
|
|
|
35,363
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
and other miscellaneous income, net
|
|
|
42,530
|
|
|
|
(13,108
|
)
|
|
|
211
|
|
|
|
(30
|
)
|
|
|
(29,241
|
)
|
|
|
362
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
6,805
|
|
|
|
9
|
|
|
|
-
|
|
|
|
-
|
|
|
|
6,814
|
|
Income
before income tax expense
|
|
|
42,395
|
|
|
|
33,411
|
|
|
|
(14,490
|
)
|
|
|
483
|
|
|
|
(32,888
|
)
|
|
|
28,911
|
|
Income
tax expense
|
|
|
-
|
|
|
|
(12,766
|
)
|
|
|
(777
|
)
|
|
|
59
|
|
|
|
-
|
|
|
|
(13,484
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
$
|
42,395
|
|
|
$
|
46,177
|
|
|
$
|
(13,713
|
)
|
|
$
|
424
|
|
|
$
|
(32,888
|
)
|
|
$
|
42,395
|
|
Nine months ended March 31,
2011
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
Non-Guarantors
|
|
Eliminations
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
312,979
|
|
|
$
|
525,023
|
|
|
$
|
21,504
|
|
|
$
|
(358,498
|
)
|
|
$
|
501,008
|
|
Cost
of sales
|
|
|
-
|
|
|
|
237,882
|
|
|
|
352,821
|
|
|
|
11,551
|
|
|
|
(356,557
|
)
|
|
|
245,697
|
|
Gross
profit
|
|
|
-
|
|
|
|
75,097
|
|
|
|
172,202
|
|
|
|
9,953
|
|
|
|
(1,941
|
)
|
|
|
255,311
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling,
general and administrative expenses
|
|
|
135
|
|
|
|
32,381
|
|
|
|
192,283
|
|
|
|
9,501
|
|
|
|
-
|
|
|
|
234,300
|
|
Restructuring
and impairment charge, (credit) net
|
|
|
-
|
|
|
|
-
|
|
|
|
393
|
|
|
|
-
|
|
|
|
-
|
|
|
|
393
|
|
Total
operating expenses
|
|
|
135
|
|
|
|
32,381
|
|
|
|
192,676
|
|
|
|
9,501
|
|
|
|
-
|
|
|
|
234,693
|
|
Operating
income (loss)
|
|
|
(135
|
)
|
|
|
42,716
|
|
|
|
(20,474
|
)
|
|
|
452
|
|
|
|
(1,941
|
)
|
|
|
20,618
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
and other miscellaneous income, net
|
|
|
22,210
|
|
|
|
(14,797
|
)
|
|
|
(30
|
)
|
|
|
4
|
|
|
|
(1,934
|
)
|
|
|
5,453
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
8,421
|
|
|
|
228
|
|
|
|
-
|
|
|
|
-
|
|
|
|
8,649
|
|
Income
before income tax expense
|
|
|
22,075
|
|
|
|
19,498
|
|
|
|
(20,732
|
)
|
|
|
456
|
|
|
|
(3,875
|
)
|
|
|
17,422
|
|
Income
tax expense
|
|
|
-
|
|
|
|
(4,653
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(4,653
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
$
|
22,075
|
|
|
$
|
24,151
|
|
|
$
|
(20,732
|
)
|
|
$
|
456
|
|
|
$
|
(3,875
|
)
|
|
$
|
22,075
|
|
CONDENSED
CONSOLIDATING STATEMENT OF CASH FLOWS
(In
thousands)
Nine months ended March 31,
2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
cash provided by (used in) operating
activities
|
|
$
|
6,668
|
|
|
$
|
2,161
|
|
|
$
|
16,667
|
|
|
$
|
2,337
|
|
|
$
|
-
|
|
|
$
|
27,833
|
|
Cash
flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures
|
|
|
-
|
|
|
|
(1,592
|
)
|
|
|
(16,833
|
)
|
|
|
(1,411
|
)
|
|
|
-
|
|
|
|
(19,836
|
)
|
Acquisitions
|
|
|
-
|
|
|
|
-
|
|
|
|
(520
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(520
|
)
|
Proceeds
from the disposal of property, plant
and equipment
|
|
|
-
|
|
|
|
-
|
|
|
|
1,792
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,792
|
|
Change
in restricted cash and investments
|
|
|
-
|
|
|
|
981
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
981
|
|
Purchase
of marketable securities
|
|
|
-
|
|
|
|
(3,290
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(3,290
|
)
|
Proceeds
from the sale of marketable securities
|
|
|
-
|
|
|
|
4,675
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
4,675
|
|
Other
|
|
|
-
|
|
|
|
262
|
|
|
|
511
|
|
|
|
-
|
|
|
|
-
|
|
|
|
773
|
|
Net
cash provided by (used in) investing
activities
|
|
|
-
|
|
|
|
1,036
|
|
|
|
(15,050
|
)
|
|
|
(1,411
|
)
|
|
|
-
|
|
|
|
(15,425
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments
on long-term debt
|
|
|
-
|
|
|
|
(11,918
|
)
|
|
|
(227
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(12,145
|
)
|
Purchases
and other retirements of company stock
|
|
|
(847
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(847
|
)
|
Proceeds
from issuance of common stock
|
|
|
225
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
225
|
|
Proceeds
from noncontrolling interest
|
|
|
-
|
|
|
|
-
|
|
|
|
275
|
|
|
|
-
|
|
|
|
-
|
|
|
|
275
|
|
Dividends
paid
|
|
|
(6,046
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(6,046
|
)
|
Net
cash provided by (used in) financing
activities
|
|
|
(6,668
|
)
|
|
|
(11,918
|
)
|
|
|
48
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(18,538
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect
of exchange rate changes on cash
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
741
|
|
|
|
-
|
|
|
|
741
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
decrease in cash and cash equivalents
|
|
|
-
|
|
|
|
(8,721
|
)
|
|
|
1,665
|
|
|
|
1,667
|
|
|
|
-
|
|
|
|
(5,389
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents – beginning of
period
|
|
|
-
|
|
|
|
69,763
|
|
|
|
7,716
|
|
|
|
1,040
|
|
|
|
-
|
|
|
|
78,519
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents – end of
period
|
|
$
|
-
|
|
|
$
|
61,042
|
|
|
$
|
9,381
|
|
|
$
|
2,707
|
|
|
$
|
-
|
|
|
$
|
73,130
|
|
CONDENSED
CONSOLIDATING STATEMENT OF CASH FLOWS
(In
thousands)
Nine months ended March 31,
2011
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
cash provided by operating activities
|
|
$
|
9,661
|
|
|
$
|
25,531
|
|
|
$
|
3,709
|
|
|
$
|
1,685
|
|
|
$
|
-
|
|
|
$
|
40,586
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures
|
|
|
-
|
|
|
|
(473
|
)
|
|
|
(3,585
|
)
|
|
|
(1,673
|
)
|
|
|
-
|
|
|
|
(5,731
|
)
|
Acquistions
|
|
|
-
|
|
|
|
-
|
|
|
|
(611
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(611
|
)
|
Proceeds
from the disposal of property, plant
and equipment
|
|
|
-
|
|
|
|
-
|
|
|
|
145
|
|
|
|
-
|
|
|
|
-
|
|
|
|
145
|
|
Change
in restricted cash and investments
|
|
|
-
|
|
|
|
953
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
953
|
|
Purchase
of marketable securities
|
|
|
-
|
|
|
|
(8,214
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(8,214
|
)
|
Proceeds
from the sale of marketable securities
|
|
|
-
|
|
|
|
6,069
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
6,069
|
|
Other
|
|
|
-
|
|
|
|
(456
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(456
|
)
|
Net
cash used in investing activities
|
|
|
-
|
|
|
|
(2,121
|
)
|
|
|
(4,051
|
)
|
|
|
(1,673
|
)
|
|
|
-
|
|
|
|
(7,845
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments
on long-term debt
|
|
|
-
|
|
|
|
(26,038
|
)
|
|
|
(32
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(26,070
|
)
|
Purchases
and other retirements of company stock
|
|
|
(5,377
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(5,377
|
)
|
Proceeds
from issuance of common stock
|
|
|
29
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
29
|
|
Increase
in deferred financing costs
|
|
|
-
|
|
|
|
(125
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(125
|
)
|
Dividends
paid
|
|
|
(4,313
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(4,313
|
)
|
Net
cash used in financing
activities
|
|
|
(9,661
|
)
|
|
|
(26,163
|
)
|
|
|
(32
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(35,856
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect
of exchange rate changes on cash
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
75
|
|
|
|
-
|
|
|
|
75
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
increase (decrease) in cash and cash
equivalents
|
|
|
-
|
|
|
|
(2,753
|
)
|
|
|
(374
|
)
|
|
|
87
|
|
|
|
-
|
|
|
|
(3,040
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents – beginning of
period
|
|
|
-
|
|
|
|
67,269
|
|
|
|
5,720
|
|
|
|
863
|
|
|
|
-
|
|
|
|
73,852
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents – end of
period
|
|
$
|
-
|
|
|
$
|
64,516
|
|
|
$
|
5,346
|
|
|
$
|
950
|
|
|
$
|
-
|
|
|
$
|
70,812
|
|
|