Historical Selected Condensed Consolidated Financial Data
(In thousands, except per share data)
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Nine Months |
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Year Ended |
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Ended |
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December 31, |
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December 31, |
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2005 |
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2004 |
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2003 |
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2002 |
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2001 (a) |
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Condensed Consolidated Statements of
Operations Data: |
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Revenues: |
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Product revenue, net |
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$ |
252,902 |
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$ |
267,470 |
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$ |
249,230 |
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$ |
57,492 |
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$ |
— |
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Service fee revenue |
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60,783 |
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42,076 |
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33,771 |
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35,825 |
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27,953 |
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Pass-through revenue |
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17,972 |
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12,119 |
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3,435 |
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3,692 |
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3,721 |
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Other revenue |
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— |
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— |
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— |
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— |
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100 |
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Total revenues |
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331,657 |
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321,665 |
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286,436 |
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97,009 |
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31,774 |
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Costs of revenues: |
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Cost of product revenue |
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235,584 |
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251,968 |
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235,317 |
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54,343 |
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— |
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Cost of service fee revenue |
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45,597 |
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28,067 |
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23,159 |
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22,660 |
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18,209 |
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Cost of pass-through revenue |
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17,972 |
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12,119 |
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3,435 |
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3,692 |
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3,721 |
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Cost of other revenue |
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— |
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— |
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— |
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— |
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(627 |
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Total costs of revenues |
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299,153 |
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292,154 |
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261,911 |
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80,695 |
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21,303 |
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Gross profit |
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32,504 |
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29,511 |
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24,525 |
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16,314 |
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10,471 |
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Percent of revenues |
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9.8 |
% |
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9.2 |
% |
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8.6 |
% |
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16.8 |
% |
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33.0 |
% |
Selling, general and administrative expenses |
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30,521 |
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27,091 |
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25,699 |
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27,934 |
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16,892 |
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Severance and other termination costs |
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— |
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— |
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— |
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1,213 |
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— |
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Other |
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— |
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— |
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— |
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— |
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(5,141 |
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Income (loss) from operations |
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1,983 |
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2,420 |
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(1,174 |
) |
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(12,833 |
) |
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(1,280 |
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Percent of revenues |
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0.6 |
% |
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0.8 |
% |
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(0.4 |
)% |
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(13.2 |
)% |
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(4.0 |
)% |
Equity in earnings of affiliate |
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— |
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— |
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— |
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1,163 |
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— |
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Interest expense (income), net |
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1,729 |
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1,460 |
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2,000 |
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(161 |
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(496 |
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Income (loss) before income taxes and
extraordinary item |
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254 |
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960 |
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(3,174 |
) |
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(11,509 |
) |
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(784 |
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Income tax expense (benefit) |
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1,001 |
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734 |
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572 |
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94 |
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(219 |
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Income (loss) before extraordinary item |
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(747 |
) |
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226 |
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(3,746 |
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(11,603 |
) |
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(565 |
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Extraordinary item – gain on purchase of
51% share of Supplies Distributors |
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— |
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— |
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— |
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203 |
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— |
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Net income (loss) |
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$ |
(747 |
) |
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$ |
226 |
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$ |
(3,746 |
) |
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$ |
(11,400 |
) |
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$ |
(565 |
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Per share data: |
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Net income (loss) per share: |
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Basic |
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$ |
(0.03 |
) |
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$ |
0.01 |
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$ |
(0.20 |
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$ |
(0.63 |
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$ |
(0.03 |
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Diluted |
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$ |
(0.03 |
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$ |
0.01 |
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$ |
(0.20 |
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$ |
(0.63 |
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$ |
(0.03 |
) |
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Weighted average number of shares
outstanding: |
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Basic |
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22,394 |
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21,332 |
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19,011 |
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18,229 |
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18,036 |
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Diluted |
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22,394 |
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23,468 |
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19,011 |
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18,229 |
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18,036 |
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As of December 31, |
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2005 |
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2004 |
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2003 |
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2002 |
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2001 |
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Consolidated Balance Sheet Data: |
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Working capital |
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$ |
23,359 |
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$ |
22,608 |
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$ |
21,407 |
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$ |
16,045 |
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$ |
11,189 |
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Total assets |
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131,726 |
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130,327 |
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108,359 |
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107,222 |
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51,611 |
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Long-term obligations |
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8,102 |
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8,749 |
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3,760 |
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4,514 |
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5,873 |
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Shareholders’ equity |
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29,934 |
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29,926 |
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28,417 |
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26,470 |
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36,605 |
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|
| (a) |
|
In June 2001, we changed our fiscal year end from March 31 to December 31. |
33
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