| Balance Sheet for Universal Stainless & Alloy Products Inc. (USAP) | | | | | | | Assets | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Cash and Equivalents | 10,648 | 2,909 | 620 | 241 | 4,735 | | Marketable Securities | - | - | - | - | - | | Receivables | 27,501 | 33,308 | 27,963 | 24,562 | 12,690 | | Inventories | 65,572 | 66,019 | 51,398 | 38,318 | 22,281 | | Other Current Assets | 5,537 | 1,433 | 1,706 | 3,418 | 3,063 | | Total Current Assets | 109,258 | 105,280 | 82,771 | 66,538 | 43,991 | | | Gross Fixed Assets | 83,582 | 74,856 | 68,051 | 60,468 | 56,882 | | Accumulated Depreciation | (29,311) | (25,605) | (22,290) | (19,752) | (16,706) | | Net Fixed Assets | 54,271 | 49,251 | 45,761 | 40,716 | 40,176 | | Intangibles | - | - | - | - | - | | Other Non-Current Assets | 767 | 584 | 495 | 585 | 758 | | Total Non-Current Assets | 55,038 | 49,835 | 46,256 | 41,301 | 40,934 | | Total Assets | 164,296 | 155,115 | 129,027 | 107,840 | 84,925 | | | Liabilities | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Accounts Payable | 16,047 | 13,123 | 12,579 | 11,666 | 6,792 | | Short Term Debt | 383 | 2,364 | 4,656 | 4,682 | 1,944 | | Other Current Liabilities | 1,600 | 5,329 | 914 | 442 | 1,008 | | Total Current Liabilities | 23,337 | 24,937 | 21,107 | 18,620 | 10,577 | | | Long Term Debt | 1,453 | 17,228 | 17,317 | 12,190 | 5,599 | | Deferred Income Tax | 9,904 | 8,402 | 9,600 | 10,093 | 9,313 | | Other Non-Current Liabilities | - | - | - | - | - | | Minority Interest | - | - | - | - | - | | Total Non-Current Liabilities | 11,357 | 25,630 | 26,917 | 22,283 | 14,912 | | Total Liabilities | 34,694 | 50,567 | 48,024 | 40,903 | 25,489 | | | Preferred Stock Equity | - | - | - | - | - | | Common Stock Equity | 129,602 | 104,548 | 81,003 | 66,937 | 59,436 | | Total Equity | 129,602 | 104,548 | 81,003 | 66,937 | 59,436 | | Total Liabilities & Stock Equity | 164,296 | 155,115 | 129,027 | 107,840 | 84,925 | | | |
