Exhibit 99.1
MOHAWK INDUSTRIES, INC. | ||||||||||
CONSOLIDATED SUPPLEMENTAL STATEMENTS OF EARNINGS DATA | ||||||||||
(In thousands, except per share data) | ||||||||||
Fiscal Quarters Ended | Year Ended | |||||||||
April 3, 2004 | July 3, 2004 | October 2, 2004 | December 31, 2004 | December 31, 2004 | ||||||
Net sales | $ 1,389,725 | 1,485,897 | 1,529,651 | 1,475,099 | 5,880,372 | |||||
width="232" Cost of sales | 1,024,179 | 1,082,578 | 1,093,598 | 1,059,176 | 4,259,531 | |||||
Gross profit | 365,546 | 403,319 | 436,053 | 415,923 | 1,620,841 | |||||
Selling, general and administrative expenses | 246,507 | 252,646 | 242,995 | 243,103 | 985,251 | |||||
Operating income | 119,039 | 150,673 | 193,058 | 172,820 | 635,590 | |||||
Other expense (income): | ||||||||||
Interest expense | 13,954 | 13,212 | 13,918 | 12,308 | 53,392 | |||||
Other expense | 1,928 | 2,568 | 3,706 | 1,529 | 9,731 | |||||
Other income | (506) | (1,577) | (1,239) | (1,600) | (4,922) | |||||
15,376 | 14,203 | 16,385 | 12,237 | 58,201 | ||||||
Earnings before income taxes | 103,663 | 136,470 | 176,673 | 160,583 | 577,389 | |||||
Income taxes | 37,356 | 49,312 | 63,986 | 58,113 | 208,767 | |||||
width="232" Net earnings | $ 66,307 | 87,158 | 112,687 | 102,470 | 368,622 | |||||
Basic earnings per share | $ 1.00 | 1.31 | 1.69 | 1.54 | 5.53 | |||||
Weighted-average common | ||||||||||
shares outstanding | 66,629 | 66,742 | 66,669 | 66,689 | 66,682 | |||||
Diluted earnings per share | $ 0.98 | 1.29 | 1.67 | 1.52 | 5.46 | |||||
Weighted-average common and dilutive | ||||||||||
potential common shares outstanding | 67,599 | 67,564 | 67,468 | 67,595 | 67,557 | |||||
Segment information: | ||||||||||
Net sales: | ||||||||||
Mohawk | $ 1,030,442 | 1,105,493 | 1,129,422 | 1,103,474 | 4,368,831 | |||||
Dal-Tile | 359,283 | 380,404 | 400,229 | 371,625 | 1,511,541 | |||||
Consolidated net sales | $ 1,389,725 | 1,485,897 | 1,529,651 | 1,475,099 | 5,880,372 | |||||
Operating income: | ||||||||||
Mohawk | $ 71,772 | 97,050 | 131,361 | 124,073 | 424,256 | |||||
Dal-Tile | 49,402 | 55,895 | 62,750 | 51,784 | 219,831 | |||||
Corporate | (2,135) | (2,272) | (1,053) | (3,037) | (8,497) | |||||
Consolidated operating income | $ 119,039 | 150,673 | 193,058 | 172,820 | 635,590 | |||||
1
MOHAWK INDUSTRIES, INC. | ||||||||||
CONSOLIDATED SUPPLEMENTAL STATEMENTS OF EARNINGS DATA | ||||||||||
(In thousands, except per share data) | ||||||||||
Fiscal Quarters Ended | Year Ended | |||||||||
March 29, 2003 | June 28, 2003 | September 27, 2003 | December 31, 2003 | December 31, 2003 | ||||||
Net sales | $ 1,083,422 | 1,245,870 | 1,301,547 | 1,368,542 | 4,999,381 | |||||
Cost of sales | 800,696 | 897,463 | 927,813 | 979,607 | 3,605,579 | |||||
Gross profit | 282,726 | 348,407 | 373,734 | 388,935 | 1,393,802 | |||||
Selling, general and administrative expenses | 204,533 | 218,339 | 214,330 | 214,571 | 851,773 | |||||
Operating income | 78,193 | 130,068 | 159,404 | 174,364 | 542,029 | |||||
Other expense (income): | ||||||||||
Interest expense | 13,098 | 14,087 | 14,162 | 14,228 | 55,575 | |||||
Other expense | 1,391 | 1,058 | 1,800 | 2,003 | 6,252 | |||||
Other income | (1,871) | (3,163) | (467) | (2,731) | (8,232) | |||||
12,618 | 11,982 | 15,495 | 13,500 | 53,595 | ||||||
Earnings before income taxes | 65,575 | 118,086 | 143,909 | 160,864 | 488,434 | |||||
Income taxes | 23,935 | 43,101 | 52,527 | 58,722 | 178,285 | |||||
Net earnings | $ 41,640 | 74,985 | 91,382 | 102,142 | 310,149 | |||||
Basic earnings per share | $ 0.63 | 1.14 | 1.38 | 1.54 | 4.68 | |||||
Weighted-average common shares | ||||||||||
outstanding | 66,355 | 65,886 | 66,260 | 66,504 | 66,251 | |||||
Diluted earnings per share | $ 0.62 | 1.12 | 1.36 | 1.51 | 4.62 | |||||
Weighted-average common and dilutive | ||||||||||
potential common shares outstanding | 67,119 | 66,709 | 67,222 | 67,434 | 67,121 | |||||
Segment information: | ||||||||||
Net sales | ||||||||||
Mohawk | $ 806,818 | 925,434 | 965,786 | 1,032,807 | 3,730,845 | |||||
Dal-Tile | 276,604 | 320,436 | 335,761 | 335,735 | 1,268,536 | |||||
Consolidated net sales | $ 1,083,422 | 1,245,870 | 1,301,547 | 1,368,542 | 4,999,381 | |||||
Operating income: | ||||||||||
Mohawk | $ 40,830 | 85,724 | 108,499 | 128,987 | 364,040 | |||||
Dal-Tile | 38,348 | 46,699 | 52,702 | 49,496 | 187,245 | |||||
Corporate | (985) | (2,355) | (1,797) | (4,119) | (9,256) | |||||
Consolidated operating income | $ 78,193 | 130,068 | 159,404 | 174,364 | 542,029 | |||||
2
Years Ended December 31, | |||||||||
2004 | 2003 | 2002 | 2001 | 2000 | |||||
(In thousands, except per share data) |
|||||||||
Statement of earnings data: | |||||||||
Net sales | $ 5,880,372 | 4,999,381 | 4,516,957 | 3,441,267 | 3,400,905 | ||||
Cost of sales | 4,259,531 | 3,605,579 | 3,247,865 | 2,583,669 | 2,556,772 | ||||
Gross profit | 1,620,841 | 1,393,802 | 1,269,092 | 857,598 | 844,133 | ||||
Selling, general and administrative | |||||||||
expenses | 985,251 | 851,773 | 747,027 | 530,441 | 527,018 | ||||
Class action legal settlement | - | - | - | - | 7,000 | ||||
Operating income | 635,590 | 542,029 | 522,065 | 327,157 | 310,115 | ||||
Interest expense | 53,392 | 55,575 | 68,972 | 29,787 | 38,044 | ||||
Other expense (income), net | 4,809 | (1,980) | 9,464 | 5,954 | 4,442 | ||||
58,201 | 53,595 | 78,436 | 35,741 | 42,486 | |||||
Earnings before income taxes | 577,389 | 488,434 | 443,629 | 291,416 | 267,629 | ||||
Income taxes | 208,767 | 178,285 | 159,140 | 102,824 | 105,030 | ||||
Net earnings | $ 368,622 | 310,149 | 284,489 | 188,592 | 162,599 | ||||
Basic earnings per share | $ 5.53 | 4.68 | 4.46 | 3.60 | 3.02 | ||||
Weighted-average common shares | |||||||||
outstanding | 66,682 | 66,251 | 63,723 | 52,418 | 53,769 | ||||
Diluted earnings per share | $ 5.46 | 4.62 | 4.39 | 3.55 | 3.00 | ||||
Weighted-average common and | |||||||||
dilutive potential common shares | |||||||||
outstanding | 67,557 | 67,121 | 64,861 | 53,141 | 54,255 | ||||
3
UNITED STATES |
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FORM 8-K |
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CURRENT REPORT
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Delaware |
01-19826 |
52-1604305 |
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160 South Industrial Blvd., Calhoun, Georgia |
30701 |
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(Address of Principal Executive Offices) |
(Zip Code) |
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Registrant's telephone number, including area code (706) 629-7721
__________________________________________________________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communication
pursuant to Rule 425 under Securities Act (17 CFR 230.425)
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Item 8.01 Other Events.
Mohawk Industries, Inc. reclassified certain prior period
financial statement balances to conform to current presentations to include
certain distribution costs in selling, general and administrative costs rather
than cost of sales and certain freight backhaul credits were reclassified to cost
of sales. The consolidated supplemental statements of earnings reflecting the
reclassifications are included in
Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
C. Exhibits
99.1 Consolidated supplemental statements of earnings.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Mohawk Industries, Inc. |
Date: February 15, 2005 By: /s/ FRANK H. BOYKIN |
Frank H. Boykin |
Chief Financial Officer |
INDEX TO EXHIBITS
Exhibit
99.1. Consolidated supplemental statements of earnings.