Eskimo Pie Case Valuations
Finan
Eskimo Pie Corporation
(dollars in thousands except per share data)
|1987 |1988 |1989 |1990 | |Net Sales |$30,769 |$36,695 |$46,709 |$47,198 | |Cost of Goods Sold |21,650 |25,635 |31,957 |31,780 | |Advertising and Sales Promotion |4,742 |4,241 |5,030 |5,130 | |General & Administrative |6,068 |5,403 |6,394 |7,063 | |Operating Income (Loss) |-1,691 |1,416 |3,328 |3,225 | |Interest Income |308 |550 |801 |1,004 | |Interest Expense |-88 |-107 |-88 |-67 | |Other Income (Expense) net |1,738 |-77 |-108 |-20 | |Income before Taxes |267 |1,782 |3,933 |4,142 | |Income Taxes |96 |729 |1,511 |1,616 | |Net Income |$171 |$1,053 |$2,422 |$2,526 | |Per Share: | | | | | |Operating Income before Taxes |-$0.51 |$0.43 |$1.00 |$0.97 | |Operating Income after Taxes |-$0.33 |$0.25 |$0.62 |$0.59 | |Net Income |$0.05 |$0.32 |$0.73 |$0.76 | |Cash Dividend |0 |0 |$0.40 |$0.40 | |Common Shares Outstanding (000) |3,316 |3,316 |3,316 |3,316 | | fn 1/ Beginning in 1991 Eskimo Pie increased prices for products and assumed responsibility for advertising and sales promotion costs previously shared with licensees. This change in business practice accounts for approximately one-half of the increase in net sales for 1991 with a similar impact on gross profit. Advertising and sales promotions expense rose by a similar amount and off-set the increase in gross profit.
fn 2/ 1987 “Other Income” includes the gain of approximately $1.7 million on sale of a building.
Eskimo Pie Corporation
(dollars in thousands)
Assets |1987 |1988 |1989 |1990 | |Cash |$5,550 |$8,109 |$10,723 |$13,191 | |Accounts Receivable |7,207 |8,754 |7,542 |8,296 | |Inventories |2,135 |2,353 |3,288 |3,459 | | Total Current |14,892 |19,216 |21,553 |24,926 | |Net Fixed Assets |3,572 |3,281 |4,606 |4,592 | |Other |2,393 |509 |0 |0 | |Total |$20,857 |$23,006 |$26,159 |$29,518 | |Liabilities and Equity | | | | | |Borrowings |$355 |$1,697 |$1,817 |$1,685 | |Accounts Payable & Accrued Exp. |3,071 |3,000
Eskimo Pie Corporation
(dollars in thousands except per share data)
|1987 |1988 |1989 |1990 | |Net Sales |$30,769 |$36,695 |$46,709 |$47,198 | |Cost of Goods Sold |21,650 |25,635 |31,957 |31,780 | |Advertising and Sales Promotion |4,742 |4,241 |5,030 |5,130 | |General & Administrative |6,068 |5,403 |6,394 |7,063 | |Operating Income (Loss) |-1,691 |1,416 |3,328 |3,225 | |Interest Income |308 |550 |801 |1,004 | |Interest Expense |-88 |-107 |-88 |-67 | |Other Income (Expense) net |1,738 |-77 |-108 |-20 | |Income before Taxes |267 |1,782 |3,933 |4,142 | |Income Taxes |96 |729 |1,511 |1,616 | |Net Income |$171 |$1,053 |$2,422 |$2,526 | |Per Share: | | | | | |Operating Income before Taxes |-$0.51 |$0.43 |$1.00 |$0.97 | |Operating Income after Taxes |-$0.33 |$0.25 |$0.62 |$0.59 | |Net Income |$0.05 |$0.32 |$0.73 |$0.76 | |Cash Dividend |0 |0 |$0.40 |$0.40 | |Common Shares Outstanding (000) |3,316 |3,316 |3,316 |3,316 | | fn 1/ Beginning in 1991 Eskimo Pie increased prices for products and assumed responsibility for advertising and sales promotion costs previously shared with licensees. This change in business practice accounts for approximately one-half of the increase in net sales for 1991 with a similar impact on gross profit. Advertising and sales promotions expense rose by a similar amount and off-set the increase in gross profit.
fn 2/ 1987 “Other Income” includes the gain of approximately $1.7 million on sale of a building.
Eskimo Pie Corporation
(dollars in thousands)
Assets |1987 |1988 |1989 |1990 | |Cash |$5,550 |$8,109 |$10,723 |$13,191 | |Accounts Receivable |7,207 |8,754 |7,542 |8,296 | |Inventories |2,135 |2,353 |3,288 |3,459 | | Total Current |14,892 |19,216 |21,553 |24,926 | |Net Fixed Assets |3,572 |3,281 |4,606 |4,592 | |Other |2,393 |509 |0 |0 | |Total |$20,857 |$23,006 |$26,159 |$29,518 | |Liabilities and Equity | | | | | |Borrowings |$355 |$1,697 |$1,817 |$1,685 | |Accounts Payable & Accrued Exp. |3,071 |3,000