Burnham Holdings, Inc.

CONSOLIDATED STATEMENTS OF INCOME
Burnham Holdings, Inc. 2012 Annual Report
18
Years Ended December 31
(In thousands, except per share data)
2012 2011
Net sales $204,762) $198,842)
Cost of goods sold 155,510) 153,751)
Gross profit 49,252) 45,091)
Selling, administrative and general expenses 35,478) 36,282)
Operating income 13,774) 8,809)
Other income (expense):
Gain on sale of property (Note 4) 170) 162)
Mark-to-market 143) 207)
Interest and investment income 278) 70)
Interest expense (1,569) (1,592)
Other income (expense) (978) (1,153)
Income before income taxes 12,796) 7,656)
Income tax expense 4,569) 2,573)
NET INCOME $ 8,227) $ 5,083)
BASIC EARNINGS PER SHARE) $ 1.83) $ 1.13)
DILUTED EARNINGS PER SHARE) $ 1.83) $ 1.13)
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Years Ended December 31
(In thousands)
2012 2011
Components of comprehensive income (loss)
Net income for the year
)
Other comprehensive income (loss)
$ 8,227) $ 5,083)
Change in fair value of derivatives, hedges, and investments 126) (761)
Pension liability and adjustment (1,058) (10,952)
Postretirement medical liability adjustment 215) (33)
Other comprehensive income (loss) (717) (11,746)
TOTAL COMPREHENSIVE INCOME (LOSS) $ 7,510) $ (6,663)
The accompanying notes are an integral part of these consolidated financial statements.