Crompton & Knowles Corp Watch

from 10-K ~50 pages Plan of reorganization, merger, acquisition or similar

from 10-K ~20 pages Plan of reorganization, merger, acquisition or similar

from 8-K/A ~50 pages Plan of reorganization, merger, acquisition or similar

from 8-K/A ~50 pages Plan of reorganization, merger, acquisition or similar

from 8-K/A ~50 pages Plan of reorganization, merger, acquisition or similar

from 8-K/A 1 page Plan of reorganization, merger, acquisition or similar

from 8-K/A ~50 pages Plan of reorganization, merger, acquisition or similar

from 10-Q/A ~50 pages Merger Agreement

from 10-Q ~50 pages Merger Agreement

from 10-Q 1 page Unaudited Crompton & Knowles Corporation and Subsidiaries Consolidated Statements of Earnings Quarters Ended March 30, 1996 and April 1, 1995 (In Thousands, Except Per Share Data) March 30, April 1, 1996 1995 Net Sales $ 164,840 $ 168,193 Cost of Products Sold 116,948 116,559 Selling, General and Administrative 27,094 25,422 Depreciation and Amortization 4,009 3,725 Interest 2,037 1,568 Other Income (252) (228) Total Costs and Expenses 149,836 147,046 Earnings Before Income Taxes 15,004 21,147 Income Taxes 5,536 7,951 Net Earnings $ 9,468 $ 13,196 Net Earnings Per Common Share $ .20 $ .27 Dividends Per Common Share $ .135 $ .12 Average Shares Outstanding 48,318 48,921 See Accompanying Notes to Consolidated Financial Statements. - - 2

from 10-Q 1 page Unaudited Crompton & Knowles Corporation and Subsidiaries Consolidated Statements of Earnings Quarters and Nine Months Ended September 30, 1995 and September 24, 1994 (In Thousands, Except Per Share Data) Quarters Ended Nine Months Ended Sept 30, Sept 24, Sept 30, Sept 24, 1995 1994 1995 1994 Net Sales $159,065 $142,821 $502,875 $430,867 Cost of Products Sold 114,459 98,796 354,817 293,206 Selling, General and Administrative 25,584 24,233 77,742 66,399 Depreciation and Amortization 4,035 3,596 11,529 9,995 Interest 2,141 578 5,743 962 Other Expense(income) 49 (424) (192) (1,059) Total Costs and Expenses 146,268 126,779 449,639 369,503 Earnings Before Income Taxes 12,797 16,042 53,236 61,364 Income Taxes 4,720 5,818 19,905 22,275 Net Earnings $ 8,077 $ 10,224 $ 33,331 $ 39,089 Net Earnings Per Common Share $ 0.17 $ 0.20 $ 0.69 $ 0.76 Dividends Per Common Share $ .135 $ .12 $ 0.39 $ 0.34 Average Shares Outstanding 48,343 51,059 48,516 51,708 See Accompanying Notes to the Consolidated Financial Statements. - 2

from 10-Q 1 page Unaudited Crompton & Knowles Corporation and Subsidiaries Consolidated Statements of Earnings Quarters and Six Months Ended July 1, 1995 and June 25, 1994 (In Thousands, Except Per Share Data) Quarters Ended Six Months Ended July 1, June 25, July 1, June 25, 1995 1994 1995 1994 Net Sales $ 175,617 $ 154,452 $ 343,810 $ 288,046 Cost of Products Sold 123,799 103,500 240,358 194,410 Selling, General and Administrative 26,736 22,362 52,158 42,166 Depreciation and Amortization 3,769 3,173 7,494 6,399 Interest 2,034 202 3,602 384 Other Income (13) (91) (241) (635) Total Costs and Expenses 156,325 129,146 303,371 242,724 Earnings Before Income Taxes 19,292 25,306 40,439 45,322 Income Taxes 7,234 9,199 15,185 16,457 Net Earnings $ 12,058 $ 16,107 $ 25,254 $ 28,865 Net Earnings Per Common Share $ .25 $ .31 $ .52 $ .56 Dividends Per Common Share $ .135 $ .12 $ .255 $ .22 Average Shares Outstanding 48,577 51,791 48,569 51,935 See Accompanying Notes to the Consolidated Financial Statements. - 2

from 10-Q 1 page Unaudited Crompton & Knowles Corporation and Subsidiaries Consolidated Statements of Earnings Quarters Ended April 1, 1995 and March 26, 1994 (In Thousands, Except Per Share Data) April 1, March 26, 1995 1994 Net Sales $ 168,193 $ 133,594 Cost of Products Sold 116,559 90,910 Selling, General and Administrative 25,422 19,804 Depreciation and Amortization 3,725 3,226 Interest 1,568 182 Other Income (228) (544) Total Costs and Expenses 147,046 113,578 Earnings Before Income Taxes 21,147 20,016 Income Taxes 7,951 7,258 Net Earnings $ 13,196 $ 12,758 Net Earnings Per Common Share $ .27 $ .25 Dividends Per Common Share $ .12 $ .10 Average Shares Outstanding 48,921 51,988 See Accompanying Notes to the Consolidated Financial Statements. - 2

from 10-Q 1 page September 24, 1994 Unaudited Crompton & Knowles Corporation and Subsidiaries Consolidated Balance Sheets September 24, 1994 and December 25, 1993 (In Thousands) September 24, December 25, 1994 1993 Assets Current Assets Cash $ 7,207 $ 9,284 Accounts Receivable 93,830 84,482 Inventories 144,026 113,932 Other Current Assets 16,657 12,698 Total Current Assets 261,720 220,396 Non-Current Assets Property, Plant and Equipment 113,339 99,925 Cost in Excess of Acquired Net Assets 43,836 33,275 Other Assets 10,028 9,650 $ 428,923 $ 363,246 Liabilities and Stockholders' Equity Current Liabilities Notes Payable $ 36,551 $ 5,100 Accounts Payable 50,304 44,905 Accrued Expenses 32,766 25,574 Income Taxes Payable 6,474 12,935 Other Current Liabilities 12,116 6,925 Total Current Liabilities 138,211 95,439 Non-Current Liabilities Long-Term Debt 34,000 14,000 Accrued Postretirement Liability 8,722 9,084 Deferred Income Taxes 4,953 4,727 Total Non-Current Liabilities 47,675 27,811 Stockholders' Equity Common Stock 5,336 5,336 Additional Paid-In Capital 61,767 61,783 Retained Earnings 212,937 191,230 Accumulated Translation Adjustment 3,696 (557) Treasury Stock at Cost (34,453) (11,278) Deferred Compensation (6,246) (6,518) Total Stockholders' Equity 243,037 239,996 $ 428,923 $ 363,246 See Accompanying Notes to the Consolidated Financial Statements. - 3

from 10-Q 1 page June 25, 1994 Unaudited Crompton & Knowles Corporation and Subsidiaries Consolidated Balance Sheets June 25, 1994 and December 25, 1993 (In Thousands) June 25, December 25, 1994 1993 Assets Current Assets Cash $ 2,359 $ 9,284 Accounts Receivable 98,752 84,482 Inventories 132,569 113,932 Other Current Assets 16,896 12,698 Total Current Assets 250,576 220,396 Non-Current Assets Property, Plant and Equipment 109,174 99,925 Cost in Excess of Acquired Net Assets 41,386 33,275 Other Assets 9,673 9,650 $ 410,809 $ 363,246 Liabilities and Stockholders' Equity Current Liabilities Notes Payable $ 24,038 $ 5,100 Accounts Payable 50,344 44,905 Accrued Expenses 33,036 25,574 Income Taxes Payable 8,146 12,935 Other Current Liabilities 13,444 6,925 Total Current Liabilities 129,008 95,439 Non-Current Liabilities Long-Term Debt 14,000 14,000 Accrued Postretirement Liability 9,080 9,084 Deferred Income Taxes 4,837 4,727 Total Non-Current Liabilities 27,917 27,811 Stockholders' Equity Common Stock 5,336 5,336 Additional Paid-In Capital 61,773 61,783 Retained Earnings 208,808 191,230 Accumulated Translation Adjustment 1,207 (557) Treasury Stock at Cost (17,377) (11,278) Deferred Compensation (5,863) (6,518) Total Stockholders' Equity 253,884 239,996 $ 410,809 $ 363,246 See Accompanying Notes to the Consolidated Financial Statements. - 3