Babson Coffee Corporation Income Statement (thousands) For the year ended Revenues Retail Stores Specialty Sales 31-Dec-18...

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Babson Coffee Corporation Income Statement (thousands) For the year ended Revenues Retail Stores Specialty Sales 31-Dec-18 31-Dec-19 31-Dec-20 % or $ Increase (decrease) 2021-Projected 201,139 205,116 214,270 110,131 128,692 157,649 6.0% 27.0% 311,270 333,808 371,919 427,340 Brief Explanation 227,126 Retail locations will increase and sales in this segment are expected to grow by approximately 6%. 200,214 Specialty sales are expected to increase by 26-28% over 2020 levels. 208,739 cost of sales to increase by 12%. 0 O At this time, it is not feasible to predict the outcome of or range of loss, should a loss occur, from thes 27,035 administrative expense increasing by only 4.5% Total Revenues Expenses Cost of Sales and Related Occupancy Expense 142,776 154,892 186,374 12.0% Operating expenses 106,652 109,646 112,750 Transaction Related Expenses/(income) (4,183) 970 0 Litigation Related Expenses 2,957 (34) 3,260 General and Administrative Expenses Depreciation and Amortization Expenses Total costs and expenses from operations Income from operations Gain on sale of marketable securities Interest Income, net Income before income taxes Income tax provisions Net Income 24,508 25,029 25,871 4.5% 15,167 15,767 287,877 306,270 23,393 7305 112 27,538 15,578 343,833 28,086 235,774 8 8 30,810 27,546 11,558 10,045 28,094 9,828 0 19,252 17,501 18,266 37.5% 36.5% 35.0% Effective tax rate Net Income per share Basic 1.48 1.34 1.41 Diluted 1.44 1.28 1.37 Shares used in calculation of earnings per share: Basic 12,997 13,038 Diluted 13,349 13,643 12,982 13,366 Projected Operating Income for 2021 Projected EBITDA for 2021 Balance Sheet (thousands) As of Current Assets Cash and qash equivalents Short-termmarketable securities Accounts receivables Inventories Deferred income taxes-current Prepaid expenses and other Total Current Assets 31-Dec-18 31-Dec-19 31-Dec-20 % or $ Increase (decrease) 2021-Projected ASSETS Brief Explanation 47,934 44,629 4,183 30,755 3,800 15,209 14,852 20,522 25,936 33,534 54,265 30.0% 45.0% 3,592 4,420 5,041 5,863 98,534 7,798 109,416 9,368 3,800 26,679 Receivables should grow by approximately 30% 78,684 inventories will increase by 45%. 5,041 9,368 123,751 Long-term marketable securities 888 123,572 888 Property, plant and equipment, net 103,494 Other assets, net 2,775 97,279 2,137 89,304 Total Assets 204,803 208,832 1,328 215,271 1,328 125,788 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts Payable and Other Accrued Liabilities Accrued Compensation and Benefits 13,669 9,138 11,547 -6.0% 10,832 11,555 10,283 Deferred Revenue Total Current Liabilities Deferred income taxes-non-current Deferred lease credits 6,845 7,102 7,382 10,854 further decrease in our payables balance of approximately 6%. 10,283 7,382 31,346 27,795 29,212 28,519 321 46 367 367 7,059 7,023 6,189 6,189 Other long-term liabilities 1,021 1,468 1,068 1,068 Total Liabilities 39,747 36,332 36,836 36,143 Shareholders' Equity Common Stock - Par Value 92,054 81,995 69,664 69,664 Accumulated Other Comprehensive Income (Loss) 2 2 2 Retained Earnings 73,002 90,503 108,769 108,769 No dividends paid Total Shareholders Equity 165,056 172,500 178,435 Total Liabilities & Shareholders Equity 204,803 208,832 215,271 178,435 214,578 Babson Coffee Corporation Income Statement (thousands) For the year ended Revenues Retail Stores Specialty Sales 31-Dec-18 31-Dec-19 31-Dec-20 % or $ Increase (decrease) 2021-Projected 201,139 205,116 214,270 110,131 128,692 157,649 6.0% 27.0% 311,270 333,808 371,919 427,340 Brief Explanation 227,126 Retail locations will increase and sales in this segment are expected to grow by approximately 6%. 200,214 Specialty sales are expected to increase by 26-28% over 2020 levels. 208,739 cost of sales to increase by 12%. 0 O At this time, it is not feasible to predict the outcome of or range of loss, should a loss occur, from thes 27,035 administrative expense increasing by only 4.5% Total Revenues Expenses Cost of Sales and Related Occupancy Expense 142,776 154,892 186,374 12.0% Operating expenses 106,652 109,646 112,750 Transaction Related Expenses/(income) (4,183) 970 0 Litigation Related Expenses 2,957 (34) 3,260 General and Administrative Expenses Depreciation and Amortization Expenses Total costs and expenses from operations Income from operations Gain on sale of marketable securities Interest Income, net Income before income taxes Income tax provisions Net Income 24,508 25,029 25,871 4.5% 15,167 15,767 287,877 306,270 23,393 7305 112 27,538 15,578 343,833 28,086 235,774 8 8 30,810 27,546 11,558 10,045 28,094 9,828 0 19,252 17,501 18,266 37.5% 36.5% 35.0% Effective tax rate Net Income per share Basic 1.48 1.34 1.41 Diluted 1.44 1.28 1.37 Shares used in calculation of earnings per share: Basic 12,997 13,038 Diluted 13,349 13,643 12,982 13,366 Projected Operating Income for 2021 Projected EBITDA for 2021 Balance Sheet (thousands) As of Current Assets Cash and qash equivalents Short-termmarketable securities Accounts receivables Inventories Deferred income taxes-current Prepaid expenses and other Total Current Assets 31-Dec-18 31-Dec-19 31-Dec-20 % or $ Increase (decrease) 2021-Projected ASSETS Brief Explanation 47,934 44,629 4,183 30,755 3,800 15,209 14,852 20,522 25,936 33,534 54,265 30.0% 45.0% 3,592 4,420 5,041 5,863 98,534 7,798 109,416 9,368 3,800 26,679 Receivables should grow by approximately 30% 78,684 inventories will increase by 45%. 5,041 9,368 123,751 Long-term marketable securities 888 123,572 888 Property, plant and equipment, net 103,494 Other assets, net 2,775 97,279 2,137 89,304 Total Assets 204,803 208,832 1,328 215,271 1,328 125,788 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts Payable and Other Accrued Liabilities Accrued Compensation and Benefits 13,669 9,138 11,547 -6.0% 10,832 11,555 10,283 Deferred Revenue Total Current Liabilities Deferred income taxes-non-current Deferred lease credits 6,845 7,102 7,382 10,854 further decrease in our payables balance of approximately 6%. 10,283 7,382 31,346 27,795 29,212 28,519 321 46 367 367 7,059 7,023 6,189 6,189 Other long-term liabilities 1,021 1,468 1,068 1,068 Total Liabilities 39,747 36,332 36,836 36,143 Shareholders' Equity Common Stock - Par Value 92,054 81,995 69,664 69,664 Accumulated Other Comprehensive Income (Loss) 2 2 2 Retained Earnings 73,002 90,503 108,769 108,769 No dividends paid Total Shareholders Equity 165,056 172,500 178,435 Total Liabilities & Shareholders Equity 204,803 208,832 215,271 178,435 214,578