The Company is considering its options for the use of the proceeds from the sale. However, income from continuing operations reflected in the accompanying consolidated condensed statements of operations does not include any proforma adjustments or other allocations to reflect the potential use of the proceeds for acquisitions, to repay debt, or repurchase shares and, as such, are not fully indicative of the ongoing operations of the Company. The transaction was accounted for as a purchase and the Company's results of operations include the results of Hickory since the date of acquisition. Purchase price was allocated to the assets acquired based on an appraisal of fair values. Additionally, the Company sold certain commercial printing assets in October 1998.
Inventories are principally raw materials.
The following tables set forth the Company's financial performance by segment. Cable Segment results have not been presented as they are reflected as income from discontinued operations in the consolidated condensed statements of operations.