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Selected Consolidated Financial Data
The following selected financial data for the five years ended March 31, 2003, have been derived from the Company's audited consolidated financial statements. The following data should be read in conjunction with the Company's Consolidated Financial Statements, the related notes thereto, and "Management's Discussion and Analysis of Financial Condition and Results of Operations." The following amounts are in thousands, except per share data.
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Years Ended March 31,
|
| |
1999 |
2000 |
2001 |
2002 |
2003 |
| Statement of Income Data: |
|
|
|
|
|
| Revenues |
$165,457 |
$186,765 |
$209,554 |
$235,912 |
$282,776 |
| Costs and Expenses: |
|
|
|
|
|
| Cost of revenues |
136,082 |
152,710 |
172,010 |
193,225 |
230,947 |
| General and administrative |
12,596 |
14,752 |
16,389 |
18,783 |
25,081 |
|
148,678 |
167,462 |
188,399 |
212,008 |
256,028 |
|
|
|
|
|
|
| Income before income taxes |
16,779 |
19,303 |
21,155 |
23,904 |
26,748 |
| Income tax provision |
6,376 |
7,336 |
7,933 |
9,083 |
10,164 |
| Net income |
$10,403 |
$11,967 |
$13,222 |
$14,821 |
$16,584 |
|
|
|
|
|
|
| Net income per share: |
|
|
|
|
|
| Basic |
$.85 |
$.99 |
$1.16 |
$1.34 |
$1.54 |
| Diluted |
$.84 |
$.98 |
$1.13 |
$1.30 |
$1.50 |
|
|
|
|
|
|
| Shares used in computing net income per share: |
|
|
|
|
|
| Basic |
12,233 |
12,032 |
11,399 |
11,043 |
10,735 |
| Diluted |
12,392 |
12,227 |
11,672 |
11,367 |
11,057 |
|
|
|
|
|
|
| Return on beginning of year equity |
22.7% |
22.5% |
23.9% |
25.2% |
27.2% |
| Return on beginning of year assets |
17.2% |
17.4% |
18.6% |
19.1% |
20.7% |
|
|
|
|
|
|
| Balance Sheet Data as of March 31, |
1999 |
2000 |
2001 |
2002 |
2003 |
|
|
|
|
|
|
| Cash and cash equivalents |
$ 9,052 |
$ 5,643 |
$ 9,457 |
$ 12,601 |
$ 5,913 |
| Accounts receivable, net |
31,562 |
35,874 |
34,316 |
33,040 |
45,394 |
| Working capital |
31,700 |
34,396 |
35,130 |
35,539 |
37,513 |
| Total assets |
68,737 |
71,187 |
77,565 |
80,295 |
93,325 |
| Retained earnings |
47,286 |
59,253 |
72,475 |
87,296 |
103,880 |
| Treasury stock |
26,990 |
39,956 |
53,903 |
69,140 |
84,127 |
| Total stockholders' equity |
53,214 |
55,293 |
58,718 |
60,983 |
67,220 |
See accompanying notes to consolidated financial statements.
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