STANDARD MOTOR PRODUCTS, INC.
Consolidated Statements of Operations
(Dollars in thousands, except per share amounts)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
2004 2003 2004 2003
NET SALES  $       203,487  $       214,479  $       643,317  $       516,329
COST OF SALES           150,945           156,191           477,547           379,682
GROSS PROFIT             52,542             58,288           165,770           136,647
SELLING, GENERAL & ADMINISTRATIVE EXPENSES             43,436             48,956           137,438           113,671
INTEGRATION COSTS               4,669               1,926               8,592               2,702
OPERATING INCOME               4,437               7,406             19,740             20,274
OTHER INCOME (EXPENSE), NET                   823                   125               1,766                 (278)
INTEREST EXPENSE               3,474               4,070             10,389             10,276
EARNINGS FROM CONTINUING OPERATIONS BEFORE TAXES               1,786               3,461             11,117               9,720
INCOME TAX EXPENSE                   446               1,419               2,779               3,985
EARNINGS FROM CONTINUING OPERATIONS               1,340               2,042               8,338               5,735
LOSS FROM DISCONTINUED OPERATION, NET OF TAX              (2,016)                 (591)              (3,292)              (1,372)
NET EARNINGS (LOSS)  $             (676)  $           1,451  $           5,046  $           4,363
NET EARNINGS PER COMMON SHARE:
   BASIC EARNINGS FROM CONTINUING OPERATIONS  $             0.07  $             0.11  $             0.43  $             0.39
   DISCONTINUED OPERATION                (0.10)                (0.03)                (0.17)                (0.09)
   NET EARNINGS (LOSS) PER COMMON SHARE - BASIC  $            (0.03)  $             0.08  $             0.26  $             0.30
   DILUTED EARNINGS FROM CONTINUING OPERATIONS  $             0.07  $             0.11  $             0.43  $             0.39
   DISCONTINUED OPERATION                (0.10)                (0.03)                (0.17)                (0.09)
   NET EARNINGS (LOSS) PER COMMON SHARE - DILUTED  $            (0.03)  $             0.08  $             0.26  $             0.30
WEIGHTED AVERAGE NUMBER OF COMMON SHARES     19,356,423     19,194,121     19,312,334     14,580,042
WEIGHTED AVERAGE NUMBER OF COMMON SHARES AND DILUTIVE SHARES     19,460,252     19,218,855     19,415,562     14,634,466