CANNONDALE CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(In thousands, except share data)
March 31, 2001
(unaudited)
July 1, 2000
Assets
Current assets:
Cash...............................................................
$ 1,920
$ 5,064
Trade accounts receivable, less allowances of
$11,146 and $10,076..............................
47,833
50,224
Inventories...................................................... 42,861
40,413
Deferred income taxes....................................
-
5,571
Prepaid expenses and other current assets.......
3,719
4,618
Total current assets..............................................
96,333
105,890
Property, plant and equipment, net.......................
36,352
40,114
Other assets.........................................................
5,703
18,903
Total assets..........................................................
$ 138,388 $
164,907
Liabilities and stockholders' equity
Current liabilities:
Accounts payable............................................
$ 13,970
$ 15,912
Revolving credit advances...............................
4,038
2,235
27
307
Warranty and other accrued expenses.............
8,742
7,403
Current installments of long-term debt............
4,856
4,577
Total current liabilities.........................................
31,633
30,434
Long-term debt, less current installments.............
54,760
63,363
Other noncurrent liabilities..................................
437
424
Total liabilities.....................................................
86,830
94,221
Commitments and contingencies ....................
-
-
Stockholders' equity:
Common stock, $.01 par value:
Authorized shares 40,000,000
Issued shares - 8,821,871 and 8,808,125...
88
88
Additional paid-in capital...............................
57,978
57,935
Retained earnings...........................................
21,253
38,802
Less 1,292,900 shares in treasury at cost ......
(20,162)
(20,162)
Accumulated other comprehensive loss ........
(7,599)
(5,977)
Total stockholders' equity....................................
51,558
70,686
Total liabilities and stockholders' equity..............
$ 138,388
$ 164,907
