**EXHIBIT 99.2**

 

ReconciliationsRegarding Non-GAAP Financial Measures

 

Theinformation in this schedule is being furnished in accordance with RegulationFD and not “filed” with the Securities and Exchange Commission. Accordingly, suchinformation is not incorporated by reference into any registration statementfiled by the Company under the Securities Act of 1933, as amended, and will notbe so incorporated by reference into any future registration statement unlessspecifically identified as being incorporated by reference.

 

Generally, a non-GAAP financial measure is a numericalmeasure of a company’s performance, financial position, or cash flows thateither excludes or includes amounts that are not normally excluded or includedin the most directly comparable measure calculated and presented in accordancewith United States generally accepted accounting principles, or GAAP. Pursuantto the rules adopted by the Securities and Exchange Commission (the “SEC”)relating to the use of such financial measures in filings with the SEC, other disclosuresof financial information and press releases, the Company provides the followingqualitative and quantitative reconciliations regarding the non-GAAP financialmeasures to which management may refer. The sum of quarterly amounts in the accompanying tables may not equalfull year amounts due to rounding differences.

 

TheCompany defines EBITDA as our income (loss) before income taxes and accountingchange plus net interest expense, depreciation, goodwill impairment and amortizationexpenses.  The Company uses EBITDA bothas a liquidity and performance measure when evaluating its business andoperations. We believe EBITDA may be useful to an investor in evaluating ourliquidity and/or operating performance because:

 

•                  it is widely used by investors in ourindustry to measure a company’s operating performance without regard to itemssuch as interest expense, depreciation and amortization, which can varysubstantially from company to company depending upon accounting methods andbook value of assets, capital structure and the method by which assets wereacquired;

 

•                  it helps investors more meaningfullyevaluate and compare the results of our operations from period to period byremoving the impact of our capital structure (primarily interest charges fromour outstanding debt) and asset base (primarily depreciation and goodwillamortization/impairment)from our operating results; and

 

•                  it helps investors to assess compliancewith financial ratios and covenants included in our primary bank facility.

 

EBITDAshould not be considered as an alternative to any measure of operating resultsas promulgated under GAAP (such as operating income or net income), nor shouldit be considered as an indicator of our overall financial performance or ourability to satisfy current or future obligations and fund or finance futurebusiness opportunities. EBITDA does not fully consider the impact of investingor financing transactions as it specifically excludes depreciation and interestcharges, which should also be considered in the overall evaluation of theCompany’s results and liquidity.

 
| ** **                                               | ** ** | **Fiscal** | ** ** | **Fiscal 2004** | ** ** | **Fiscal 2005** | ** ** |
|----------------------------------------------------------|------------|------------|------------|-----------------|------------|-----------------|------------|
| **($MM)**                                                | ** ** | **2000**   | ** ** | **2001**        | ** ** | **2002**        | ** ** | **2003** | ** ** | **2004** | ** ** | **Q1** | ** ** | **Q2** | ** ** | **Q3** | ** ** | **Q4** | ** ** | **Q1** | ** ** | **Q2** | ** ** | **Q3** | ** ** |
|                                                     |       |       |       |            |       |            |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss)  before income taxes and accounting change |       | 64.1       |       | 37.3            |       | 27.8            |       | (8.7 | ) | 32.7 |   | 5.8 |   | 7.8 |   | 9.0 |   | 10.1 |   | 11.1 |   | 12.2 |   | 15.1 |   |
| Depreciation and  amortization                           |       | 32.9       |       | 38.8            |       | 41.3            |       | 37.4 |   | 35.8 |   | 8.8 |   | 9.0 |   | 9.1 |   | 8.9 |   | 9.4 |   | 10.4 |   | 12.3 |   |
| Interest expense                                         |       | 13.6       |       | 21.0            |       | 15.2            |       | 10.2 |   | 7.2 |   | 2.0 |   | 1.8 |   | 2.0 |   | 1.5 |   | 1.4 |   | 1.4 |   | 1.1 |   |
| Goodwill  impairment                                     |       | —     |       | 1.1             |       | —          |       | 38.0 |   | — |   | — |   | — |   | — |   | — |   | — |   | — |   | — |   |
| **EBITDA**                                               | ** ** | **110.6**  | ** ** | **98.2**        | ** ** | **84.3**        | ** ** | **76.9** | ** ** | **75.7** | ** ** | **16.6** | ** ** | **18.6** | ** ** | **20.1** | ** ** | **20.5** | ** ** | **21.9** | ** ** | **24.0** | ** ** | **28.5** | ** ** |

 

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The Company defines FreeCash Flow as net cash provided by operating activities less capitalexpenditures for property, plant and equipment, including capital expenditures whichare directly financed, and net of proceeds from asset dispositions.  The Company considers Free Cash Flow to be animportant indicator of our operating flexibility and is a representativemeasure of our ability to satisfy current and future obligations and fund orfinance future business opportunities and believes it may be similarly usefulto investors.

 
| ** **                                 | ** ** | **Fiscal** | ** ** | **Fiscal 2004** | ** ** | **Fiscal 2005** | ** ** |
|--------------------------------------------|------------|------------|------------|-----------------|------------|-----------------|------------|
| **($MM)**                                  | ** ** | **2000**   | ** ** | **2001**        | ** ** | **2002**        | ** ** | **2003** | ** ** | **2004** | ** ** | **Q1** | ** ** | **Q2** | ** ** | **Q3** | ** ** | **Q4** | ** ** | **Q1** | ** ** | **Q2** | ** ** | **Q3** | ** ** |
|                                       |       |       |       |            |       |            |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash  provided by operating activities |       | 68.3       |       | 68.1            |       | 69.8            |       | 95.4 |   | 79.3 |   | 20.2 |   | 18.7 |   | 16.1 |   | 24.4 |   | 7.8 |   | 21.2 |   | 21.9 |   |
| Capital  expenditures                      |       | 62.5       |       | 36.9            |       | 22.1            |       | 21.2 |   | 19.8 |   | 3.0 |   | 6.4 |   | 4.8 |   | 5.7 |   | 6.5 |   | 5.0 |   | 9.4 |   |
| Proceeds from  asset dispositions          |       | 2.6        |       | 3.3             |       | 2.1             |       | 1.1 |   | 2.3 |   | 1.2 |   | 0.4 |   | 0.2 |   | 0.5 |   | 0.2 |   | 0.4 |   | 0.9 |   |
| **Free  Cash Flow**                        | ** ** | **3.2**    | ** ** | **28.0**        | ** ** | **45.5**        | ** ** | **73.0** | ** ** | **57.1** | ** ** | **16.0** | ** ** | **11.9** | ** ** | **11.1** | ** ** | **18.2** | ** ** | **1.1** | ** ** | **15.9** | ** ** | **11.6** | ** ** |

 

The Company definesAdjusted Operating Margin as Adjusted Operating Income divided by Sales.  We define Adjusted Operating Income asOperating Income plus goodwill amortization and impairment.  Adjusted Operating Income is an importantperformance measure used by the Company to analyze and compare post-acquisitionfinancial trends and results of its various operations.  The Company believes this non-GAAP financialmeasure  may help investors better understandour operating results by removing the impact of goodwillamortization/impairment from a portion of our asset base resulting solely fromour acquisition transactions.

 
| ** **                     | ** ** | **Fiscal** | ** ** | **Fiscal 2004** | ** ** | **Fiscal 2005** | ** ** |
|--------------------------------|------------|------------|------------|-----------------|------------|-----------------|------------|
| **($MM)**                      | ** ** | **2000**   | ** ** | **2001**        | ** ** | **2002**        | ** ** | **2003** | ** ** | **2004** | ** ** | **Q1** | ** ** | **Q2** | ** ** | **Q3** | ** ** | **Q4** | ** ** | **Q1** | ** ** | **Q2** | ** ** | **Q3** | ** ** |
| Sales                          |       | 624.9      |       | 683.4           |       | 643.9           |       | 710.3 |   | 708.1 |   | 165.8 |   | 174.6 |   | 184.2 |   | 183.4 |   | 181.5 |   | 191.1 |   | 208.6 |   |
|                           |       |       |       |            |       |            |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating income               |       | 77.6       |       | 58.1            |       | 42.9            |       | 1.4 |   | 39.9 |   | 7.7 |   | 9.6 |   | 11.0 |   | 11.6 |   | 12.5 |   | 13.6 |   | 16.2 |   |
| Goodwill  impairment           |       | —     |       | 1.1             |       | —          |       | 38.0 |   | — |   | — |   | — |   | — |   | — |   | — |   | — |   | — |   |
| Goodwill  amortization         |       | 2.3        |       | 5.3             |       | 5.4             |       | — |   | — |   | — |   | — |   | — |   | — |   | — |   | — |   | — |   |
| **Adjusted  operating income** | ** ** | **79.9**   | ** ** | **64.5**        | ** ** | **48.3**        | ** ** | **39.4** | ** ** | **39.9** | ** ** | **7.7** | ** ** | **9.6** | ** ** | **11.0** | ** ** | **11.6** | ** ** | **12.5** | ** ** | **13.6** | ** ** | **16.2** | ** ** |
| **Adjusted  operating margin** | ** ** | **12.8**   | **%**      | **9.4**         | **%**      | **7.5**         | **%**      | **5.6** | **%** | **5.6** | **%** | **4.7** | **%** | **5.5** | **%** | **6.0** | **%** | **6.3** | **%** | **6.9** | **%** | **7.1** | **%** | **7.8** | **%** |

 

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