Condensed Financial Statements [Text Block] |
(15)
|
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 December 31, 2012 and June 30, 2012, the
condensed consolidating statements of operations for the
three and six months ended December 31, 2012 and 2011, and
the condensed consolidating statements of cash flows for the
six months ended December 31, 2012 and 2011 of the Parent,
the Issuer, the Guarantors and the Non-Guarantors.
CONDENSED
CONSOLIDATING BALANCE SHEET
(In
thousands)
December
31, 2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents
|
|
$
|
-
|
|
|
$
|
49,220
|
|
|
$
|
5,316
|
|
|
$
|
2,731
|
|
|
$
|
-
|
|
|
$
|
57,267
|
|
Marketable
securities
|
|
|
-
|
|
|
|
17,869
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
17,869
|
|
Accounts
receivable, net
|
|
|
-
|
|
|
|
10,861
|
|
|
|
276
|
|
|
|
-
|
|
|
|
-
|
|
|
|
11,137
|
|
Inventories
|
|
|
-
|
|
|
|
-
|
|
|
|
165,051
|
|
|
|
5,006
|
|
|
|
(27,672
|
)
|
|
|
142,385
|
|
Prepaid
expenses and other current assets
|
|
|
-
|
|
|
|
7,355
|
|
|
|
10,801
|
|
|
|
2,102
|
|
|
|
-
|
|
|
|
20,258
|
|
Intercompany
receivables
|
|
|
-
|
|
|
|
852,131
|
|
|
|
284,679
|
|
|
|
(8,892
|
)
|
|
|
(1,127,918
|
)
|
|
|
-
|
|
Total
current assets
|
|
|
-
|
|
|
|
937,436
|
|
|
|
466,123
|
|
|
|
947
|
|
|
|
(1,155,590
|
)
|
|
|
248,916
|
|
Property,
plant and equipment, net
|
|
|
-
|
|
|
|
9,750
|
|
|
|
273,562
|
|
|
|
15,841
|
|
|
|
-
|
|
|
|
299,153
|
|
Goodwill
and other intangible assets
|
|
|
-
|
|
|
|
37,905
|
|
|
|
7,223
|
|
|
|
-
|
|
|
|
-
|
|
|
|
45,128
|
|
Restricted
cash and investments
|
|
|
-
|
|
|
|
15,427
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
15,427
|
|
Other
assets
|
|
|
-
|
|
|
|
5,148
|
|
|
|
1,604
|
|
|
|
-
|
|
|
|
-
|
|
|
|
6,752
|
|
Investment
in affiliated companies
|
|
|
673,506
|
|
|
|
(109,636
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(563,870
|
)
|
|
|
-
|
|
Total
assets
|
|
$
|
673,506
|
|
|
$
|
896,030
|
|
|
$
|
748,512
|
|
|
$
|
16,788
|
|
|
$
|
(1,719,460
|
)
|
|
$
|
615,376
|
|
Liabilities
and Shareholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
maturities of long-term debt
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
466
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
466
|
|
Customer
deposits
|
|
|
-
|
|
|
|
-
|
|
|
|
44,192
|
|
|
|
2,484
|
|
|
|
-
|
|
|
|
46,676
|
|
Accounts
payable
|
|
|
-
|
|
|
|
3,943
|
|
|
|
11,908
|
|
|
|
483
|
|
|
|
-
|
|
|
|
16,334
|
|
Accrued
expenses and other current liabilities
|
|
|
126
|
|
|
|
35,887
|
|
|
|
15,661
|
|
|
|
1,208
|
|
|
|
-
|
|
|
|
52,882
|
|
Intercompany
payables
|
|
|
347,719
|
|
|
|
(720
|
)
|
|
|
768,708
|
|
|
|
12,211
|
|
|
|
(1,127,918
|
)
|
|
|
-
|
|
Total
current liabilities
|
|
|
347,845
|
|
|
|
39,110
|
|
|
|
840,935
|
|
|
|
16,386
|
|
|
|
(1,127,918
|
)
|
|
|
116,358
|
|
Long-term
debt
|
|
|
-
|
|
|
|
153,047
|
|
|
|
1,824
|
|
|
|
-
|
|
|
|
-
|
|
|
|
154,871
|
|
Other
long-term liabilities
|
|
|
-
|
|
|
|
3,650
|
|
|
|
14,725
|
|
|
|
111
|
|
|
|
-
|
|
|
|
18,486
|
|
Total
liabilities
|
|
|
347,845
|
|
|
|
195,807
|
|
|
|
857,484
|
|
|
|
16,497
|
|
|
|
(1,127,918
|
)
|
|
|
289,715
|
|
Shareholders’
equity
|
|
|
325,661
|
|
|
|
700,223
|
|
|
|
(108,972
|
)
|
|
|
291
|
|
|
|
(591,542
|
)
|
|
|
325,661
|
|
Total
liabilities and shareholders’ equity
|
|
$
|
673,506
|
|
|
$
|
896,030
|
|
|
$
|
748,512
|
|
|
$
|
16,788
|
|
|
$
|
(1,719,460
|
)
|
|
$
|
615,376
|
|
CONDENSED
CONSOLIDATING BALANCE SHEET
(In
thousands)
June 30,
2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents
|
|
$
|
-
|
|
|
$
|
64,946
|
|
|
$
|
12,276
|
|
|
$
|
2,499
|
|
|
$
|
-
|
|
|
|
79,721
|
|
Marketable
securities
|
|
|
-
|
|
|
|
9,005
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
9,005
|
|
Accounts
receivable, net
|
|
|
-
|
|
|
|
14,648
|
|
|
|
263
|
|
|
|
8
|
|
|
|
-
|
|
|
|
14,919
|
|
Inventories
|
|
|
-
|
|
|
|
-
|
|
|
|
182,382
|
|
|
|
4,736
|
|
|
|
(31,379
|
)
|
|
|
155,739
|
|
Prepaid
expenses and other current assets
|
|
|
-
|
|
|
|
6,191
|
|
|
|
14,689
|
|
|
|
2,528
|
|
|
|
-
|
|
|
|
23,408
|
|
Intercompany
receivables
|
|
|
-
|
|
|
|
829,913
|
|
|
|
273,536
|
|
|
|
(8,515
|
)
|
|
|
(1,094,934
|
)
|
|
|
-
|
|
Total
current assets
|
|
|
-
|
|
|
|
924,703
|
|
|
|
483,146
|
|
|
|
1,256
|
|
|
|
(1,126,313
|
)
|
|
|
282,792
|
|
Property,
plant and equipment, net
|
|
|
-
|
|
|
|
9,078
|
|
|
|
272,228
|
|
|
|
14,389
|
|
|
|
-
|
|
|
|
295,695
|
|
Goodwill
and other intangible assets
|
|
|
-
|
|
|
|
37,905
|
|
|
|
7,223
|
|
|
|
-
|
|
|
|
-
|
|
|
|
45,128
|
|
Restricted
cash and investments
|
|
|
-
|
|
|
|
15,416
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
15,416
|
|
Other
assets
|
|
|
-
|
|
|
|
4,948
|
|
|
|
809
|
|
|
|
-
|
|
|
|
-
|
|
|
|
5,757
|
|
Investment
in affiliated companies
|
|
|
652,868
|
|
|
|
(108,864
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(544,004
|
)
|
|
|
-
|
|
Total
assets
|
|
$
|
652,868
|
|
|
$
|
883,186
|
|
|
$
|
763,406
|
|
|
$
|
15,645
|
|
|
$
|
(1,670,317
|
)
|
|
$
|
644,788
|
|
Liabilities
and Shareholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
maturities of long-term debt
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
250
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
250
|
|
Customer
deposits
|
|
|
-
|
|
|
|
-
|
|
|
|
62,479
|
|
|
|
2,986
|
|
|
|
-
|
|
|
|
65,465
|
|
Accounts
payable
|
|
|
-
|
|
|
|
7,126
|
|
|
|
19,695
|
|
|
|
494
|
|
|
|
-
|
|
|
|
27,315
|
|
Accrued
expenses and other current liabilities
|
|
|
2,713
|
|
|
|
35,752
|
|
|
|
18,537
|
|
|
|
1,045
|
|
|
|
-
|
|
|
|
58,047
|
|
Intercompany
payables
|
|
|
328,287
|
|
|
|
327
|
|
|
|
756,513
|
|
|
|
9,807
|
|
|
|
(1,094,934
|
)
|
|
|
-
|
|
Total
current liabilities
|
|
|
331,000
|
|
|
|
43,205
|
|
|
|
857,474
|
|
|
|
14,332
|
|
|
|
(1,094,934
|
)
|
|
|
151,077
|
|
Long-term
debt
|
|
|
-
|
|
|
|
152,986
|
|
|
|
1,264
|
|
|
|
-
|
|
|
|
-
|
|
|
|
154,250
|
|
Other
long-term liabilities
|
|
|
-
|
|
|
|
3,641
|
|
|
|
13,874
|
|
|
|
78
|
|
|
|
-
|
|
|
|
17,593
|
|
Total
liabilities
|
|
|
331,000
|
|
|
|
199,832
|
|
|
|
872,612
|
|
|
|
14,410
|
|
|
|
(1,094,934
|
)
|
|
|
322,920
|
|
Shareholders’
equity
|
|
|
321,868
|
|
|
|
683,354
|
|
|
|
(109,206
|
)
|
|
|
1,235
|
|
|
|
(575,383
|
)
|
|
|
321,868
|
|
Total
liabilities and shareholders’ equity
|
|
$
|
652,868
|
|
|
$
|
883,186
|
|
|
$
|
763,406
|
|
|
$
|
15,645
|
|
|
$
|
(1,670,317
|
)
|
|
$
|
644,788
|
|
CONDENSED
CONSOLIDATING STATEMENT OF OPERATIONS (In
thousands)
Three months ended
December 31,
2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
107,768
|
|
|
$
|
201,661
|
|
|
$
|
10,149
|
|
|
$
|
(128,327
|
)
|
|
$
|
191,251
|
|
Cost
of sales
|
|
|
-
|
|
|
|
81,997
|
|
|
|
130,553
|
|
|
|
6,128
|
|
|
|
(131,394
|
)
|
|
|
87,284
|
|
Gross
profit
|
|
|
-
|
|
|
|
25,771
|
|
|
|
71,108
|
|
|
|
4,021
|
|
|
|
3,067
|
|
|
|
103,967
|
|
Selling,
general and administrative expenses
|
|
|
45
|
|
|
|
12,112
|
|
|
|
69,884
|
|
|
|
4,569
|
|
|
|
-
|
|
|
|
86,610
|
|
Total
operating expenses
|
|
|
45
|
|
|
|
12,112
|
|
|
|
69,884
|
|
|
|
4,569
|
|
|
|
-
|
|
|
|
86,610
|
|
Operating
income (loss)
|
|
|
(45
|
)
|
|
|
13,659
|
|
|
|
1,224
|
|
|
|
(548
|
)
|
|
|
3,067
|
|
|
|
17,357
|
|
Interest
and other miscellaneous income, net
|
|
|
9,891
|
|
|
|
83
|
|
|
|
31
|
|
|
|
(34
|
)
|
|
|
(9,843
|
)
|
|
|
128
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
2,183
|
|
|
|
15
|
|
|
|
-
|
|
|
|
-
|
|
|
|
2,198
|
|
Income
before income tax expense
|
|
|
9,846
|
|
|
|
11,559
|
|
|
|
1,240
|
|
|
|
(582
|
)
|
|
|
(6,776
|
)
|
|
|
15,287
|
|
Income
tax expense
|
|
|
-
|
|
|
|
4,735
|
|
|
|
683
|
|
|
|
23
|
|
|
|
-
|
|
|
|
5,441
|
|
Net
income/(loss)
|
|
$
|
9,846
|
|
|
$
|
6,824
|
|
|
$
|
557
|
|
|
$
|
(605
|
)
|
|
$
|
(6,776
|
)
|
|
$
|
9,846
|
|
Three months ended December 31,
2011
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
106,087
|
|
|
$
|
196,556
|
|
|
$
|
8,533
|
|
|
$
|
(127,901
|
)
|
|
$
|
183,275
|
|
Cost
of sales
|
|
|
-
|
|
|
|
78,863
|
|
|
|
130,514
|
|
|
|
4,503
|
|
|
|
(128,824
|
)
|
|
|
85,056
|
|
Gross
profit
|
|
|
-
|
|
|
|
27,224
|
|
|
|
66,042
|
|
|
|
4,030
|
|
|
|
923
|
|
|
|
98,219
|
|
Selling,
general and administrative expenses
|
|
|
45
|
|
|
|
10,699
|
|
|
|
70,146
|
|
|
|
3,391
|
|
|
|
-
|
|
|
|
84,281
|
|
Total
operating expenses
|
|
|
45
|
|
|
|
10,699
|
|
|
|
70,146
|
|
|
|
3,391
|
|
|
|
-
|
|
|
|
84,281
|
|
Operating
income (loss)
|
|
|
(45
|
)
|
|
|
16,525
|
|
|
|
(4,104
|
)
|
|
|
639
|
|
|
|
923
|
|
|
|
13,938
|
|
Interest
and other miscellaneous income, net
|
|
|
8,122
|
|
|
|
(3,451
|
)
|
|
|
89
|
|
|
|
6
|
|
|
|
(4,621
|
)
|
|
|
145
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
2,274
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
2,274
|
|
Income
before income tax expense
|
|
|
8,077
|
|
|
|
10,800
|
|
|
|
(4,015
|
)
|
|
|
645
|
|
|
|
(3,698
|
)
|
|
|
11,809
|
|
Income
tax expense
|
|
|
-
|
|
|
|
3,601
|
|
|
|
124
|
|
|
|
7
|
|
|
|
-
|
|
|
|
3,732
|
|
Net
income/(loss)
|
|
$
|
8,077
|
|
|
$
|
7,199
|
|
|
$
|
(4,139
|
)
|
|
$
|
638
|
|
|
$
|
(3,698
|
)
|
|
$
|
8,077
|
|
CONDENSED
CONSOLIDATING STATEMENT OF OPERATIONS
(In
thousands)
Six months ended December 31,
2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
219,392
|
|
|
$
|
405,611
|
|
|
$
|
19,729
|
|
|
$
|
(266,044
|
)
|
|
$
|
378,688
|
|
Cost
of sales
|
|
|
-
|
|
|
|
165,802
|
|
|
|
262,482
|
|
|
|
11,935
|
|
|
|
(269,751
|
)
|
|
|
170,468
|
|
Gross
profit
|
|
|
-
|
|
|
|
53,590
|
|
|
|
143,129
|
|
|
|
7,794
|
|
|
|
3,707
|
|
|
|
208,220
|
|
Selling,
general and administrative expenses
|
|
|
90
|
|
|
|
22,354
|
|
|
|
141,806
|
|
|
|
8,659
|
|
|
|
-
|
|
|
|
172,909
|
|
Total
operating expenses
|
|
|
90
|
|
|
|
22,354
|
|
|
|
141,806
|
|
|
|
8,659
|
|
|
|
-
|
|
|
|
172,909
|
|
Operating
income (loss)
|
|
|
(90
|
)
|
|
|
31,236
|
|
|
|
1,323
|
|
|
|
(865
|
)
|
|
|
3,707
|
|
|
|
35,311
|
|
Interest
and other miscellaneous income, net
|
|
|
20,000
|
|
|
|
(519
|
)
|
|
|
25
|
|
|
|
(75
|
)
|
|
|
(19,229
|
)
|
|
|
202
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
4,366
|
|
|
|
31
|
|
|
|
-
|
|
|
|
-
|
|
|
|
4,397
|
|
Income
before income tax expense
|
|
|
19,910
|
|
|
|
26,351
|
|
|
|
1,317
|
|
|
|
(940
|
)
|
|
|
(15,522
|
)
|
|
|
31,116
|
|
Income
tax expense
|
|
|
-
|
|
|
|
10,058
|
|
|
|
1,102
|
|
|
|
46
|
|
|
|
-
|
|
|
|
11,206
|
|
Net
income/(loss)
|
|
$
|
19,910
|
|
|
$
|
16,293
|
|
|
$
|
215
|
|
|
$
|
(986
|
)
|
|
$
|
(15,522
|
)
|
|
$
|
19,910
|
|
Six months ended December 31,
2011
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
222,563
|
|
|
$
|
391,376
|
|
|
$
|
17,428
|
|
|
$
|
(263,171
|
)
|
|
$
|
368,196
|
|
Cost
of sales
|
|
|
-
|
|
|
|
166,387
|
|
|
|
259,697
|
|
|
|
9,636
|
|
|
|
(263,628
|
)
|
|
|
172,092
|
|
Gross
profit
|
|
|
-
|
|
|
|
56,176
|
|
|
|
131,679
|
|
|
|
7,792
|
|
|
|
457
|
|
|
|
196,104
|
|
Selling,
general and administrative expenses
|
|
|
90
|
|
|
|
22,458
|
|
|
|
139,144
|
|
|
|
6,836
|
|
|
|
-
|
|
|
|
168,528
|
|
Total
operating expenses
|
|
|
90
|
|
|
|
22,458
|
|
|
|
139,144
|
|
|
|
6,836
|
|
|
|
-
|
|
|
|
168,528
|
|
Operating
income (loss)
|
|
|
(90
|
)
|
|
|
33,718
|
|
|
|
(7,465
|
)
|
|
|
956
|
|
|
|
457
|
|
|
|
27,576
|
|
Interest
and other miscellaneous income, net
|
|
|
14,937
|
|
|
|
(6,510
|
)
|
|
|
145
|
|
|
|
6
|
|
|
|
(8,373
|
)
|
|
|
205
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
4,625
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
4,625
|
|
Income
before income tax expense
|
|
|
14,847
|
|
|
|
22,583
|
|
|
|
(7,320
|
)
|
|
|
962
|
|
|
|
(7,916
|
)
|
|
|
23,156
|
|
Income
tax expense
|
|
|
-
|
|
|
|
8,103
|
|
|
|
170
|
|
|
|
36
|
|
|
|
-
|
|
|
|
8,309
|
|
Net
income/(loss)
|
|
$
|
14,847
|
|
|
$
|
14,480
|
|
|
$
|
(7,490
|
)
|
|
$
|
926
|
|
|
$
|
(7,916
|
)
|
|
$
|
14,847
|
|
CONDENSED
CONSOLIDATING STATEMENT OF CASH FLOWS (In
thousands)
Six months ended December 31,
2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
cash provided by (used in) operating
activities
|
|
$
|
19,284
|
|
|
$
|
(5,033
|
)
|
|
$
|
2,258
|
|
|
$
|
1,671
|
|
|
$
|
-
|
|
|
$
|
18,180
|
|
Cash
flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures
|
|
|
-
|
|
|
|
(1,758
|
)
|
|
|
(10,261
|
)
|
|
|
(1,546
|
)
|
|
|
-
|
|
|
|
(13,565
|
)
|
Acquisitions
|
|
|
-
|
|
|
|
-
|
|
|
|
(598
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(598
|
)
|
Proceeds
from the disposal of property, plant and equipment
|
|
|
-
|
|
|
|
51
|
|
|
|
1,215
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,266
|
|
Change
in restricted cash and investments
|
|
|
-
|
|
|
|
(11
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(11
|
)
|
Purchase
of marketable securities
|
|
|
-
|
|
|
|
(13,816
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(13,816
|
)
|
Proceeds
from the sale of marketable securities
|
|
|
-
|
|
|
|
4,740
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
4,740
|
|
Other
|
|
|
-
|
|
|
|
101
|
|
|
|
550
|
|
|
|
-
|
|
|
|
-
|
|
|
|
651
|
|
Net
cash provided by (used in) investing
activities
|
|
|
-
|
|
|
|
(10,693
|
)
|
|
|
(9,094
|
)
|
|
|
(1,546
|
)
|
|
|
-
|
|
|
|
(21,333
|
)
|
Cash
flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments
on long-term debt
|
|
|
-
|
|
|
|
-
|
|
|
|
(124
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(124
|
)
|
Dividends
paid
|
|
|
(19,617
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(19,617
|
)
|
Other
|
|
|
333
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
333
|
|
Net
cash provided by (used in) financing activities
|
|
|
(19,284
|
)
|
|
|
-
|
|
|
|
(124
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(19,408
|
)
|
Effect
of exchange rate changes on cash
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
107
|
|
|
|
-
|
|
|
|
107
|
|
Net
decrease in cash and cash equivalents
|
|
|
-
|
|
|
|
(15,726
|
)
|
|
|
(6,960
|
)
|
|
|
232
|
|
|
|
-
|
|
|
|
(22,454
|
)
|
Cash
and cash equivalents – beginning of
period
|
|
|
-
|
|
|
|
64,946
|
|
|
|
12,276
|
|
|
|
2,499
|
|
|
|
-
|
|
|
|
79,721
|
|
Cash
and cash equivalents – end of period
|
|
$
|
-
|
|
|
$
|
49,220
|
|
|
$
|
5,316
|
|
|
$
|
2,731
|
|
|
$
|
-
|
|
|
$
|
57,267
|
|
CONDENSED
CONSOLIDATING STATEMENT OF CASH FLOWS
(In
thousands)
Six months ended December 31,
2011
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
cash provided by operating activities
|
|
$
|
4,856
|
|
|
$
|
(1,586
|
)
|
|
$
|
4,833
|
|
|
$
|
2,862
|
|
|
$
|
-
|
|
|
$
|
10,965
|
|
Cash
flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures
|
|
|
-
|
|
|
|
(1,036
|
)
|
|
|
(9,224
|
)
|
|
|
(1,132
|
)
|
|
|
-
|
|
|
|
(11,392
|
)
|
Proceeds
from the disposal of property, plant and equipment
|
|
|
-
|
|
|
|
68
|
|
|
|
1,724
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,792
|
|
Change
in restricted cash and investments
|
|
|
-
|
|
|
|
989
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
989
|
|
Purchase
of marketable securities
|
|
|
-
|
|
|
|
(2,108
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(2,108
|
)
|
Proceeds
from the sale of marketable securities
|
|
|
-
|
|
|
|
3,825
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
3,825
|
|
Other
|
|
|
-
|
|
|
|
258
|
|
|
|
511
|
|
|
|
-
|
|
|
|
-
|
|
|
|
769
|
|
Net
cash used in investing activities
|
|
|
-
|
|
|
|
1,996
|
|
|
|
(6,989
|
)
|
|
|
(1,132
|
)
|
|
|
-
|
|
|
|
(6,125
|
)
|
Cash
flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments
on long-term debt
|
|
|
-
|
|
|
|
(11,918
|
)
|
|
|
(210
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(12,128
|
)
|
Dividends
paid
|
|
|
(4,031
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(4,031
|
)
|
Purchases
and other retirements of company stock
|
|
|
(847
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(847
|
)
|
Other
|
|
|
22
|
|
|
|
-
|
|
|
|
275
|
|
|
|
-
|
|
|
|
-
|
|
|
|
297
|
|
Net
cash used in financing activities
|
|
|
(4,856
|
)
|
|
|
(11,918
|
)
|
|
|
65
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(16,709
|
)
|
Effect
of exchange rate changes on cash
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(298
|
)
|
|
|
-
|
|
|
|
(298
|
)
|
Net
increase (decrease) in cash and cash
equivalents
|
|
|
-
|
|
|
|
(11,508
|
)
|
|
|
(2,091
|
)
|
|
|
1,432
|
|
|
|
-
|
|
|
|
(12,167
|
)
|
Cash
and cash equivalents – beginning of
period
|
|
|
-
|
|
|
|
69,763
|
|
|
|
7,716
|
|
|
|
1,040
|
|
|
|
-
|
|
|
|
78,519
|
|
Cash
and cash equivalents – end of period
|
|
$
|
-
|
|
|
$
|
58,255
|
|
|
$
|
5,625
|
|
|
$
|
2,472
|
|
|
$
|
-
|
|
|
$
|
66,352
|
|
|