Consolidated Balance Sheets            
(In thousands except share data)       December 31,
        2002     2001  
Assets    
Current assets    
       Cash and cash equivalents     $ 5,132   $ 3,524  
       Receivables, net       70,142     60,231  
       Product inventories, net       183,720     181,462  
       Prepaid expenses       2,372     2,517  
       Deferred income taxes       1,708     2,599  
Total current assets     263,074   250,333  
     
Property and equipment, net       20,921     15,844  
Goodwill       107,739     73,582  
Intangible assets, net       7,968     5,841  
Other assets, net       2,392     2,990  
Total assets     $ 402,094   $ 348,590  
Liabilities and stockholders’ equity    
Current liabilities    
       Accounts payable       93,307     95,588  
       Accrued and other current liabilities       24,708     17,798  
       Current portion of long-term debt       885     91  
Total current liabilities     118,900   113,477  
     
Deferred income taxes       12,536     5,541  
Long-term debt, less current portion       125,175     85,000  
Other long-term liabilities       3,542     —  
     
Stockholders’ equity    
       Common stock, $.001 par value; 40,000,000 shares    
               authorized; 23,594,730 and 26,966,519 shares    
               issued and outstanding at December 31, 2002    
               and 2001, respectively       23     27  
       Additional paid-in capital       63,555     61,353  
       Retained earnings       78,847     112,611  
       Treasury stock, 1,998,150 shares of common stock as of    
               December 31, 2001       —     (27,567 )
       Unearned compensation       (575 )   (909 )
       Accumulated other comprehensive income (loss)       91     (943 )
Total stockholders’ equity     $ 141,941   $ 144,572  
Total liabilities and stockholders’ equity     $ 402,094   $ 348,590  

The accompanying Notes are an integral part of these Consolidated Financial Statements.

 

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