CONDITIONS FOR COMPILING PRO FORMA
The following best practices for reporting pro forma
earnings come from an analysis of these three sources.
Extracting that information in a pro forma
disclosure can reduce the likelihood that an investor will consider that onetime event in predicting future earnings.
For each such Adjusted Pro Forma
financial measure, the adjustment provides management with information about the Company's underlying operating performance that enables a more meaningful comparison of its financial results in different reporting periods.
The unaudited condensed pro forma
statements of income for the three-month period and year ended December 31, 1995 and 1994 were prepared as if the reorganization had occurred on January 1, 1994.
A) The pro forma
figures reflect adjustments to earnings that would have occurred if the Company's initial public offering and the related corporate reorganization, which were consummated in November 1993, had occurred on January 1, 1993.
C) Net income (loss) per pro forma
share is based upon 4,788,305 shares of Leslie Building Products common stock, the number of shares issued as a result of the distribution by Drew Industries of common shares of Leslie Building Products on a share for share basis, which occurred as of July 29, 1994.
The above analysis contains forward looking and pro forma
statements and is considered estimates.
a) Includes the pro forma
results of United Thermal Corporation, which was acquired in December 1993.
Net income for the third quarter of 1994 was $2,092,000 compared to pro forma
net income of $1,797,000 for the third quarter of 1993.
Includes Deluxe Homes of Columbus operating data for the three months ended September 30, 1993 and gives pro forma
effect of income taxes.
62% year-on-year increase in pro forma