Exhibit 1 Magnetronics, Inc.

, Consolidated Income Statements

for Years Ending December 31, 1995 and 1999 (thousands of dollars)
1995 1999

Net sales $32,513 $48,769

Cost of goods sold 19,183 29,700
Gross profit $13,330 $19,069
Operating expenses 10,758 16,541
EBIT 2,572 2,528
Interest expenses 361 517
Income before taxes $2,211 $2,011
Federal income taxes 1,040 704
Net income $1,171 $1,307
Dividends 500 700

Exhibit 2 Magnetronics, Inc., Consolidated Balance Sheets at

December 31, 1995 and 1999 (thousands of dollars)
1995 1999

Cash $1,617 $2,020

Accounts receivable 5,227 7,380
Inventories 4,032 8,220
Current assets $10,876 $17,620
Net fixed assets 4,073 5,160
Total assets $14,949 $22,780

Notes payable, banks $864 $1,213

Accounts payable 1,615 2,820
Accrued expenses and taxes 2,028 3,498
Current liabilities $4,507 $7,531
Long-term debt 2,750 3,056
Stockholders equity 7,692 12,193
Total liabilities and stockholders' equity $14,949 $22,780
 1995 1999
tax rate Av tax rate 47.0% 35.0%
EBIAT EBIT+I(1-T) $1,362 $1,643
EBIT(1-T) 1362.194482135 1643.011437096
Capital capital $11,306 $16,462
MV Equity
Depreciation
Total Liabilities TA-Equity
No of shares
Overall Profitability Ratios
ROE PAT/NW 15.2% 10.7%
ROA EBIAT/Assets 9.1% 7.2%
ROIC EBIAT/Capital 12.0% 10.0%
Profitability Ratios
Return on Sales (Net Margin) PAT/Sales 3.6% 2.7%
Gross Margin GrossProfit/Sales 41.0% 39.1%
Operating Margin EBIT/Sales 7.9% 5.2%
EBITDA Margin EBITDA/Sales
Activity Ratios
Asset Turnover Sales/TA 2.17 2.14
Fixed Asset turnover ratio Sales/FA 7.98 9.45
Current Asset turnover ratio Sales/CA 2.99 2.77
Inventory Turnover ratio COGS/Inventory 4.76 3.61
AR TO Ratio Sales/ AR 6.22 6.61
Average Sales per day Sales/365
Average Collection Period Reces/Av Sales
Inventory Holding Period
Leverage Ratios
Debt ratio TD/TA
Debt Ratio (Market)
ICR or TIE EBIT/I
Payables Period (days)
Liquidity Ratio
Current Ratio CA/CL
Quick Ratio (CA-Inv)/CL
Unidentified Balance Sheet
A B C D E
Balance Sheet Percentages
Cash 7.60% 2.70% 1.40% 7.20% 12.70%
Receivables 31.7 4.7 2.9 60.3 11.5
Inventories 5.3 2.0 23.0 8.7 48.1
Other current assets 1.2 3.0 1.8 7.3 0.0
Property and equipment (net) 30.2 66.6 49.9 4.3 25.0
Other assets 24.0 21.0 21.0 12.2 2.7
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Notes payable 38.40% 4.20% 4.60% 50.80% 0.90%

Accounts payable 5.5 3.0 20.0 15.2 21.5
Other current liabilities 1.5 4.7 12.7 5.7 27.4
Long-term debt 17.4 30.0 37.5 22.7 8.1
Other liabilities 26.5 22.9 9.8 1.3 8.1
Owners equity 10.7 35.2 15.4 4.3 34.0
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%
Selected Ratios
Net profits/net sales .04 .14 .02 .01 .05
Net profits/total assets .03 .05 .06 .01 .03
Net profits/owners equity .29 .14 .41 .13 .10
Net sales/total assets .78 .36 3.2 2.1 .67
Collection period (days) 149 48 3 106 63
Inventory turnover 11 10 10 23 1.1
Total liabilities/total assets .89 .65 .85 .96 .66
Long-term debt/owners equity 1.6 .85 2.4 5.3 .24
Quick ratio .9 .9 .2 .9 .5