Exhibit 1 ALLIANCE CONCRETE Income Statements
20 0 2
20 0 3
2 00 4
128,978 100,857 28,121 12,482 15,639 4,537 11,102 3,882 7,220
143,560 111,203 32,357 13,685 18,672 6,150 12,522 4,288 8,234
161,863 125,756 36,107 18,131 17,976 5,964 12,012 4,312 7,700
1,751 73.66 57.60 5,436
1,850 77.60 60.11 5,762
1,957 82.71 64.26 5,983
Income Statement (in thousands of dollars)
Revenue Cost of goods sold Gross margin General and administrative Earnings before interest and taxes Interest Tax Net income Additional Data
Yards sold (in thousands) Average price per yard (in dollars) Average cost per yard (in dollars) Depreciation (in thosands of dollars)
2005 185,815 144,594 41,221 17,327 23,894 5,695 18,199 6,210 11,989
2,085 89.12 69.35 6,439
Exhibit 2 ALLIANCE CONCRETE Balance Sheets
2002
2003
2004
2005
Cash Accounts receivable Inventory Current assets Plant and equipment
2,837 18,092 3,549 24,478 87,534 112,012
3,330 19,823 4,238 27,391 91,392 118,783
3,043 23,104 4,233 30,380 93,569 123,949
4,180 28,203 4,615 36,998 97,476 134,474
Accounts payable Other accrued expenses Current liabilities Long-term debt Owners' equity
8,891 5,313 14,204 55,000 42,808 112,012
9,609 5,713 15,322 75,000 28,461 118,783
11,067 6,490 17,557 71,000 35,392 123,949
13,534 7,897 21,431 67,000 46,043 134,474
Balance Sheet ($1,000)
Financial Statement Relations Margins and Returns
Yards sold (in thousands) Average price per yard (in dollars) Average cost per yard (in dollars)
2002
2003
2004
2005 Forecast
1,751 73.66 57.60
1,850 77.60 60.11
1,957 82.71 64.26
2,085 89.12 69.35
###### ###### 28,121 12,482 15,639 4,537 11,102 3,882 7,220
###### ###### 32,357 13,685 18,672 6,150 12,522 4,288 8,234
###### ###### 36,107 18,131 17,976 5,964 12,012 4,312 7,700
Assumptions
2,200 increase to 2.2 million 95.36 7% increase 75.59 10% increase
Income Statement ($1,000)
Revenue Cost of goods sold Gross margin General and administrative Earnings before interest and taxes Interest Tax Net income
###### 209,788 yards sold * avg PPY ###### 166,300 yards sold * avg CPY 41,221 43,488 17,327 19,510 % of revenue 23,894 23,978 5,695 5,695 interest rate * debt 18,199 18,283 6,210 6,399 tax/EBT to find tax rate and m 11,989 11,884
Balance Sheet ($1,000)
Cash Accounts receivable Inventory Current assets Plant and equipment
2,837 3,330 3,043 4,180 18,092 19,823 23,104 28,203 3,549 4,238 4,233 4,615 24,478 27,391 30,380 36,998
4,720 % of sales 30,893 rev. * inventory turnover / 365 5,308 cogs * AR turnover / 365 40,922 additional $16 million planned 87,534 91,392 93,569 97,476 105,976 capital expenditure minus $7.5 million in depreciation
###### ###### ###### ###### 146,898 Accounts payable Other accrued expenses Current liabilities Long-term debt Owners' equity
8,891 5,313 14,204 55,000 42,808 ######
9,609 5,713 15,322 75,000 28,461 ######
11,067 6,490 17,557 71,000 35,392 ######
13,534 15,564 7,897 8,916 21,431 24,480 67,000 67,000 46,043 54,927 ###### 146,407 EFN
Financial Statement Relations Margins and Returns
Gross margin Net margin Return on book assets Return on book equity Asset Ratios Days receivables Days inventory Days payables Total asset turnover Fixed asset turnover Leverage Ratios Debt to prior year EBITDA Debt to total value (book) Interest coverage
21.80% 22.54% 22.31% 22.18% 20.73% 5.60% 5.74% 4.76% 6.45% 5.66% 6.45% 6.93% 6.21% 8.92% 8.09% 16.87% 28.93% 21.76% 26.04% 21.64% 51.20 12.84 32.18 1.15 1.47
50.40 13.91 31.54 1.21 1.57
52.10 12.29 32.12 1.31 1.73
55.40 11.65 34.16 1.38 1.91
53.75 11.65 34.16 1.43 1.98
2.98 49% 3.45
3.56 63% 3.04
2.91 57% 3.01
2.80 50% 4.20
2.21 46% 4.21
491
5737
ltiply prior tax by tax rate
0.0411931
0.03980 0.0400956 0.0424993
