|
| For the Year (ended October 31) |
2002 |
2001 |
2000 |
| Net Sales |
$994.4 |
$924.4 |
$964.5 |
| Operating Income before unusual items |
83.3 |
57.3 |
66.61 |
| Operating Income (Loss) |
88.3 |
57.3 |
(4.0)2 |
| Interest Expense |
14.8 |
16.6 |
15.3 |
| Net Income (Loss) |
55.5 |
29.2 |
(9.7)3 |
| EBITDA 6 |
129.1 |
104.6 |
116.1 |
| Basic Earnings per common share (excludes unusual
charges) |
3.134 |
2.18 |
2.641 |
| Basic net earnings (Loss) per share |
3.74 |
2.18 |
(0.70) |
| Diluted net earnings per share before unusual
items |
2.964 |
2.07 |
2.461 |
| |
|
|
|
| At Year End |
2002 |
2001 |
2000 |
| Working Capital |
101.0 |
102.3 |
104.9 |
| Total Assets |
689.1 |
697.6 |
645.9 |
| Long-term Debt5 |
75.6 |
220.0 |
191.9 |
| Stockholders Equity |
421.4 |
280.0 |
266.5 |
1 Excludes unusual charges for asset impairment/restructuring
at Piper Impact U.S. and the loss on the sale of Piper Impact Europe.
2 Includes an asset impairment/restructuring charge and loss of
$56.3 million (pre-tax) and $14.3 million (pre-tax) loss on sale
of Piper Impact Europe.
3 Includes $36.6 million after tax asset impairment charge and $9.3
million after tax loss on the sale of Piper Impact Europe.
4 Excludes retired executive life insurance benefit of $9.0 million,
or $0.56 per share.
5 Includes current portion of long-term debt.
6 EBITDA is defined as earnings before interest, taxes, depreciation
and amortization, excluding unusual items.
This annual report to our shareholders contains
forward-looking statements. These statements involve risks, uncertainties
and other important
factors that may cause the actual results of Quanex and its divisions
to be materially different from any future results expressed or
implied by such forward-looking statements. Information identifying
such risks, uncertainties and other important factors is contained
in Item 7 in the
section entitled “Private Securities Litigation Reform Act”
in our annual report on form 10-K for the year ended October 31,
2002, as filed
with the Securities and Exchange Commission and included as part
of this annual report to shareholders.
Click
here to download our full Annual Report on Form 10-K.
Quanex Corporate Mission
Quanex Corporation will maximize shareholder value by earning a
return over the business cycle in excess of its cost of capital.
The Company will protect, nurture, and grow its core businesses
serving the Vehicular Products and Building Products markets.
Disciplined processes will underpin fundamental operating principles:
robust safety and compliance; meeting customer needs for quality,
service, value and innovation; lean thinking as cornerstone for
productivity improvements; urgent “we can do it better”
culture.
Associate training and development will be emphasized, performance
standards set high, and everyone will be treated with dignity and
respect.
Vehicular
Products
Quanex engineered steel and aluminum components can be found
in the majority of vehicles on the road today and some off-road
vehicles as well.
2002 ($ in millions)
|
|
| Net Sales |
$ 459.5 |
| Operating Income |
$ 57.6 |
| Operating Cash |
$ 85.3 |
| Assets |
$ 363.6 |
|
|
Building Products
Quanex aluminum sheet-based products and fabricated door and
window components can be found on the exterior of homes and
commercial buildings.
2002 ($ in millions)
|
|
| Net Sales |
$ 534.9 |
| Operating Income |
$ 38.0 |
| Operating Cash |
$ 53.5 |
| Assets |
$ 283.5 |
|
 |
|
