Financial Highlights
Year EndedYear Ended
(Dollars in thousands except per share amounts)March 31, 1996March 31, 1995(1)
Sales

$1,193,846

$786,904

Restructuring charges (recovery)

(3,196)

38,000

Unusual charges(2)

­

39,639

Income (loss) from continuing operations

59,568

(67,194)

Loss from discontinued operations, net of income tax(5,527)(5,414)
Loss on disposal of discontinued operations, net of income tax(6,240)­
Cumulative effect of accounting change, net of income tax­(1,500)
Net income (loss)47,801(74,108)
Earnings (loss) per share ­ primary and fully diluted
Continuing operations4.43(6.68)
Discontinued operations(3)(.87)(.54)
Cumulative effect of accounting change­(.15)
Net income (loss)3.56(7.37)
Depreciation and amortization62,41624,983
Capital expenditures28,01419,335
Cash provided by (used for) operations88,691(57,460)
Total assets1,017,4091,051,819
Working capital58,188128,354
Total debt to total capitalization71.6%75.3%
Common shares outstanding12,965,54213,849,452
Number of employees7,7008,200
(1) Reflects the acquisition of Hercules Aerospace Company on March 15, 1995. See Management's Discussion and Analysis and Note 20 to the financial statements.
(2) Reflects fiscal 1995 charges for change of control and litigation settlement. See Notes 16 and 17 to the financial statements.
(3) Reflects the results of discontinued operations and the related estimated loss on disposal of those operations. See Note 18 to the financial statements.