Using the QMART financials file, calculate 4 ratios and complete a short analysis for QMART based on the 4 ratios provided.

All values USD millions. 2014 2015 2016 2017 2018 Sales/Revenue 859.62M 919.49M 1.03B 714.07M 743.61M Cost of Goods Sold (COGS) incl. D&A 633.56M 683.9M 766.92M 546.52M 574.69M COGS excluding D&A 606.8M 650.81M 726.94M 517.55M 548.19M Depreciation & Amortization Expense 26.76M 33.09M 39.97M 28.97M 26.5M Depreciation 19.58M 23.61M 27.74M 20.4M 20.04M Amortization of Intangibles 7.18M 9.48M 12.23M 8.57M 6.46M Gross Income 226.06M 235.59M 267.56M 167.55M 168.92M 2014 2015 2016 2017 2018 SG&A Expense 133.96M 147.46M 168.95M 137.42M 138.37M Research & Development - - - - - Other SG&A 133.96M 147.46M 168.95M 137.42M 138.37M Other Operating Expense 725,000 - - 242,000 2.12M Unusual Expense 124.7M (4.28M) 1.87M 6.96M 3.51M EBIT after Unusual Expense (33.32M) 92.41M 96.74M (6.96M) 24.92M Non Operating Income/Expense 708,000 409,000 2.01M -779,000 -198,000 Non-Operating Interest Income 274,000 250,000 141,000 320,000 1.99M Equity in Affiliates (Pretax) - - - - - Interest Expense 5.92M 4.92M 5.48M 3.14M 2.63M Gross Interest Expense 5.92M 4.92M 5.48M 3.14M 2.63M Interest Capitalized - - - - - Pretax Income (38.26M) 88.15M 93.41M 19.33M 24.08M Income Tax (1.35M) 27.81M 35.31M (12.03M) 8.9M Income Tax - Current Domestic 16.54M 12.27M 35.01M (1.59M) 10.58M Income Tax - Current Foreign 162,000 1.73M 2.46M 113,000 1.14M Income Tax - Deferred Domestic (16.82M) 14.06M (1.41M) (10.56M) (3.04M) Income Tax - Deferred Foreign (1.23M) -256,000 -742,000 5,000 217,000 Income Tax Credits - - - - - Equity in Affiliates - - - - - Other After Tax Income (Expense) - - - - - Consolidated Net Income (36.91M) 60.35M 58.1M 31.36M 15.18M Minority Interest Expense - - - - 389,000 Net Income (36.91M) 60.35M 58.1M 31.36M 14.79M Extraordinaries & Discontinued Operations 509,000 - - 43.6M 105.85M Extra Items & Gain/Loss Sale Of Assets - - - - 68.5M Cumulative Effect - Accounting Chg - - - - - Discontinued Operations 509,000 - - 43.6M 37.35M Net Income After Extraordinaries (36.4M) 60.35M 58.1M 74.95M 120.64M Preferred Dividends - - - - - Net Income Available to Common (36.4M) 60.35M 58.1M 74.95M 52.14M EPS (Basic) -0.75 1.26 1.23 1.61 1.18 Basic Shares Outstanding 48.74M 47.91M 47.34M 46.59M 44.33M EPS (Diluted) -0.75 1.23 1.19 1.55 1.14 Diluted Shares Outstanding 48.74M 49.22M 48.81M 48.23M 45.73M EBITDA 118.13M 121.22M 138.58M 58.85M 54.93M

Assets Fiscal year is January-December. All values USD millions. 2014 2015 2016 2017 2018 Cash & Short Term Investments 2.65M 8.9M 8.29M 8.45M 206.92M Cash Only 2.65M 8.9M 8.29M 8.45M 206.92M Short-Term Investments - - - - - Total Accounts Receivable 191.35M 220M 264.39M 165.84M 179.92M Accounts Receivables, Net 187.65M 216.66M 261.76M 165.84M 179.92M Accounts Receivables, Gross 198.5M 226.46M 284.44M 177.19M 190.82M Bad Debt/Doubtful Accounts (10.85M) (9.8M) (22.68M) (11.35M) (10.9M) Other Receivables 3.7M 3.34M 2.64M - - Inventories - - - - - Finished Goods - - - - - Work in Progress - - - - - Raw Materials - - - - - Progress Payments & Other - - - - - Other Current Assets 36.9M 26.39M 27.13M 382.04M 22.51M Miscellaneous Current Assets 28.26M 16.7M 17.95M 377.6M 17.96M Total Current Assets 230.9M 255.28M 299.81M 556.32M 409.36M 2014 2015 2016 2017 2018 Net Property, Plant & Equipment 60.62M 76.72M 82.95M 71.43M 63.03M Property, Plant & Equipment - Gross 164.29M 182.47M 210.1M 189.03M 188.94M Buildings - - - - - Land & Improvements - - - - - Computer Software and Equipment 65.41M 77.91M 140.89M 86.61M 86.23M Other Property, Plant & Equipment 98.88M 104.56M 69.21M 102.42M 102.72M Accumulated Depreciation 103.68M 105.75M 127.15M 117.6M 125.92M Total Investments and Advances - - - - - Other Long-Term Investments - - - - - Long-Term Note Receivable 3.4M 4.42M 2.94M - - Intangible Assets 594.59M 661.36M 655.49M 443.13M 436.52M Net Goodwill 568.09M 623.2M 625.03M 422.96M 422.36M Net Other Intangibles 26.5M 38.16M 30.46M 20.17M 14.17M Other Assets 13.99M 18.11M 13.61M 9.38M 8.64M Tangible Other Assets 4.34M 2.54M 1.59M 6.21M 5.99M Total Assets 903.49M 1.02B 1.05B 1.1B 939.67M Liabilities & Shareholders' Equity 2014 2015 2016 2017 2018 ST Debt & Current Portion LT Debt - - - - - Short Term Debt - - - - - Current Portion of Long Term Debt - - - - - Accounts Payable 11.74M 9.5M 11.87M 8.4M 13.3M Income Tax Payable 1.76M - 1.56M 3.2M 13.36M Other Current Liabilities 146.9M 134.44M 161.54M 185.18M 119.16M Dividends Payable - - - - - Accrued Payroll 83.06M 91.58M 106.78M 58.52M 69.56M Miscellaneous Current Liabilities 63.84M 42.87M 54.76M 126.67M 49.6M Total Current Liabilities 160.4M 143.94M 174.97M 196.79M 145.82M Long-Term Debt 109.79M 173.74M 135.03M 132.94M - Long-Term Debt excl. Capitalized Leases 109.79M 173.74M 135.03M 132.94M - Non-Convertible Debt 109.79M 173.74M 135.03M 132.94M - Convertible Debt - - - - - Capitalized Lease Obligations - - - - - Provision for Risks & Charges - - - - - Deferred Taxes 76.33M 75.72M 77.74M 36.6M 33.9M Deferred Taxes - Credit 76.33M 75.72M 77.74M 54.36M 56.02M Deferred Taxes - Debit - - - 17.77M 22.12M Other Liabilities 14.39M 28.96M 32.58M 26.6M 25.28M Other Liabilities (excl. Deferred Income) 5.37M 14.6M 32.58M 26.6M 25.28M Deferred Income 9.02M 14.36M - - - Total Liabilities 360.9M 422.36M 420.32M 410.7M 227.11M Non-Equity Reserves - - - - - Preferred Stock (Carrying Value) - - - - - Redeemable Preferred Stock - - - - - Non-Redeemable Preferred Stock - - - - - Common Equity (Total) 542.59M 593.54M 634.48M 687.33M 708.56M Common Stock Par/Carry Value 64,000 64,000 57,000 58,000 49,000 Retained Earnings 218.34M 278.68M 196.47M 271M 211.54M ESOP Debt Guarantee - - - - - Cumulative Translation Adjustment/Unrealized For. Exch. Gain (11.97M) (16.45M) (25.17M) (19.31M) (6.53M) Unrealized Gain/Loss Marketable Securities - - - - - Revaluation Reserves - - - - - Treasury Stock (275.61M) (296.62M) (181.36M) (224.37M) (160.97M) Total Shareholders' Equity 542.59M 593.54M 634.48M 687.33M 708.56M Accumulated Minority Interest - - - - 3.99M Total Equity 542.59M 593.54M 634.48M 687.33M 712.55M Liabilities & Shareholders' Equity 903.49M 1.02B 1.05B 1.1B 939.67M

Operating Activities Fiscal year is January-December. All values USD millions. 2014 2015 2016 2017 2018 Net Income before Extraordinaries (36.4M) 60.35M 58.1M 74.95M 121.03M Depreciation, Depletion & Amortization 26.76M 33.09M 39.97M 37.79M 30.49M Depreciation and Depletion 19.58M 23.61M 27.74M 28.83M 23.82M Amortization of Intangible Assets 7.18M 9.48M 12.23M 8.96M 6.67M Deferred Taxes & Investment Tax Credit (18.05M) 13.81M (2.15M) (16.46M) (27.71M) Deferred Taxes (18.05M) 13.81M (2.15M) (16.46M) (27.71M) Investment Tax Credit - - - - - Other Funds 134.02M 1.59M 22.33M 24.42M (69.3M) Funds from Operations 106.33M 108.83M 118.25M 120.69M 54.51M Extraordinaries - - - - - Changes in Working Capital (16.23M) (25.76M) (8.22M) (18.16M) (16.92M) Receivables (14.84M) (27.88M) (49.97M) (11.77M) (34.46M) Accounts Payable (2.12M) (2.27M) 1.63M 1.06M 1.44M Other Assets/Liabilities (2.85M) 1.12M 19.03M (1.26M) 5.8M Net Operating Cash Flow 90.1M 83.08M 110.03M 102.54M 37.59M Investing Activities 2014 2015 2016 2017 2018 Capital Expenditures (24.39M) (39.83M) (29.44M) (38.65M) (15.54M) Capital Expenditures (Fixed Assets) (23.51M) (39.09M) (28.67M) (38.65M) (15.54M) Capital Expenditures (Other Assets) -881,000 -735,000 -770,000 - - Net Assets from Acquisitions (89.18M) (64.04M) (15.43M) (5M) - Sale of Fixed Assets & Businesses 2.32M - - - 429.68M Purchase/Sale of Investments - - - - - Purchase of Investments - - - - - Sale/Maturity of Investments - - - - - Other Uses (4.96M) (13.55M) (6.67M) -812,000 - Other Sources - - - - - Net Investing Cash Flow (116.2M) (117.41M) (51.53M) (44.46M) 414.14M Financing Activities 2014 2015 2016 2017 2018 Cash Dividends Paid - Total - - - - (4.32M) Common Dividends - - - - (4.32M) Preferred Dividends - - - - - Change in Capital Stock (24.45M) (18.05M) (20.76M) (39.09M) (109M) Repurchase of Common & Preferred Stk. (27.28M) (24.02M) (25.06M) (43.01M) (112.55M) Sale of Common & Preferred Stock 2.83M 5.97M 4.3M 3.92M 3.55M Proceeds from Stock Options 2.83M 5.97M 4.3M 3.92M 3.55M Other Proceeds from Sale of Stock - - - - - Issuance/Reduction of Debt, Net 54.47M 64.87M (34.49M) (5.97M) (132.28M) Change in Current Debt - - - - - Change in Long-Term Debt 54.47M 64.87M (34.49M) (5.97M) (132.28M) Issuance of Long-Term Debt 377.84M 397.32M 375.71M 451.23M 320.78M Reduction in Long-Term Debt (323.37M) (332.46M) (410.2M) (457.2M) (453.06M) Other Funds (3.13M) (6.01M) (3.55M) (13.64M) (7.03M) Other Uses (3.13M) (6.01M) (3.55M) (13.64M) (7.03M) Other Sources - - - - - Net Financing Cash Flow 26.88M 40.81M (58.8M) (58.7M) (252.63M) Exchange Rate Effect -96,000 -231,000 -307,000 783,000 -628,000 Miscellaneous Funds - - - - - Net Change in Cash 680,000 6.25M -604,000 158,000 198.47M Free Cash Flow 66.59M 43.99M 81.36M 63.89M 22.05