Black Box Corporation Reports Fourth Quarter and Total Year Fiscal 2006 Results; Total Year Revenues Up 35% and GAAP EPS Up 27%

Black Box Corporation (NASDAQ:BBOX) today reported forthe fourth quarter ended March 31, 2006 diluted earnings per share of26 cents on net income of $4.7 million or 2.7% of revenues compared tobreak-even last year. On a sequential quarter comparison basis, thirdquarter diluted earnings per share were 70 cents with correspondingnet income of $12.5 million or 6.9% of revenues. Excludingrestructuring charges and reconciling items described below, dilutedearnings per share for the fourth quarter 2006 were 53 cents and netincome was $9.6 million or 5.5% of revenues compared to dilutedearnings per share of 39 cents and net income of $6.8 million or 4.3%of revenues for the fourth quarter 2005. Management believes thatpresenting diluted earnings per share and net income excludingrestructuring charges and reconciling items is useful to investorsbecause it provides a more meaningful comparison of the ongoingoperations of the Company.

During the fourth quarter of fiscal 2006, the Company incurred apre-tax charge of $7.5 million related to reconciling items. Of thischarge, $7.1 million relates to an adjustment of earnings overmultiple years, from FY03 through FY06, from the Company's ItalianOperations ("Italian Operations Adjustment"). The Italian OperationsAdjustment resulted from intentional misconduct by certain localoperational and financial management of the Company's ItalianOperations acting in collusion with one another for the purpose ofoverstating local financial results. All involved team members havebeen terminated and the Company intends to pursue all available legalremedies against these individuals. The misconduct was recentlybrought to the Company management's attention by a team member of theItalian Operations pursuant to the Company's "Open Door" Policy.Company management responded by immediately suspending the managementteam of the Italian Operations and conducting a full investigation ofthe matter. The Company believes that all accounting irregularitieshave been identified, corrective action taken, and that the ItalianOperations Adjustment captures all necessary corrections. Thesecorrections were not material to any prior reporting period.

Total revenues for the fourth quarter were $175 million, anincrease of 11% from $157 million for the same period last year. On asequential comparison basis, third quarter revenues were $182 million.

Fourth quarter cash provided by operating activities wasapproximately $13 million or 276% of net income, compared to $18million for the same period last year. Fourth quarter free cash flow(defined below) was $19 million compared to $18 million last year. Ona sequential comparison basis, third quarter cash provided byoperating activities was $16 million or 131% of net income and freecash flow was $24 million. Black Box utilized its fourth quarter freecash flow of $19 million to fund debt reduction of $18 million and adividend payment of $1 million. Management believes that free cashflow, defined by the Company as cash provided by operating activitiesless net capital expenditures, plus proceeds from option exercises,plus or minus foreign currency translation adjustments, is animportant measurement of liquidity as it represents the total cashavailable to the Company.

For total fiscal 2006, diluted earnings per share were $2.13compared to $1.68 for the same period last year, an increase of 27%.Corresponding net income for the year was $37.4 million or 5.2% ofrevenues, compared to $29.9 million or 5.6% of revenues for the sameperiod last year. Excluding restructuring charges and reconcilingitems for fiscal years 2006 and 2005, diluted earnings per share were$2.81 and net income was $49.3 million or 6.8% of revenues in 2006compared to diluted earnings per share of $2.13 and net income of$37.9 million or 7.1% of revenues in 2005.

Total pre-tax charges incurred for the fiscal year 2006 were: $5.4million associated with acquisition-related expenses of Norstan; arestructuring charge of $5.3 million related to staffing leveladjustments and real estate consolidations in Europe and NorthAmerica; and a charge of $7.1 million related to the ItalianOperations Adjustment.

Revenues for fiscal year 2006 were $721 million, an increase of35% from $535 million for fiscal year 2005.

Cash provided by operating activities for the year was $52 millionor 139% of net income, compared to $52 million or 175% of net incomelast year. Free cash flow was $72 million compared to $57 million lastyear. Black Box utilized the twelve-month free cash flow of $72million to fund $41 million of acquisition-related activity; debtreduction of $27 million; and dividend payments of $4 million.

The Company's 6-month order backlog was $96 million at March 31,2006 compared to $97 million at the same period last year. On asequential comparison basis, third quarter 6-month order backlog was$94 million.

For FY07, the Company expects total year reported revenues ofapproximately $1 billion. By 2Q07, the Company currently expectsquarterly revenues in the range of $265 to $275 million; gross profitmargin in the range of 37% to 38%; SG&A expenses in the range of 26%to 27%; corresponding EPS in the range of 90 cents to 95 cents; andquarterly cash provided by operating activities in the range of $20 to$22 million.

All of the above ranges exclude acquisition-related expense andstock option-based expense (including the impact of FAS 123R), and arebefore any new mergers and acquisition activity that has not beenannounced.

Commenting on FY06 and the future outlook, Fred C. Young, ChiefExecutive Officer, said, "Black Box had many significantaccomplishments in FY06. We are particularly pleased thatstrategically, we have successfully positioned Black Box to reach the$1 billion revenue milestone in FY07, effectively doubling ourbusiness from 15 months ago. Achieving this $1 billion milestone 12months ahead of our previously established timeframe is a significantevent. On the other hand, as we conclude FY06 we are very disappointedby the situation in Italy. By no means do we believe this misconductis representative of the overall integrity of the Black Box Team atlarge.

Mr. Young went on to say, "FY07 should be a record year for BlackBox. We believe the 2Q07 timetable we have established to achieve ourfinancial targets is reasonable given our historical track record,particularly with the experience and associated results of the Norstanacquisition.

"There was a tremendous amount of planning and execution requiredto ensure the NextiraOne transaction was completed in a manner whichwe felt would meet both our operational and financial objectives. Webelieve we have accomplished this. From an industry positioningperspective, this combination significantly strengthens Black Box'sleadership position for data, voice and hotline technical services.

"Our FY07 plan is to fully integrate NextiraOne into Black Box. Webelieve this will allow us to take full advantage of combinedsynergies in all functional areas. This applies particularly tomarketing and operations, where we now have a significant increase inresources available to our clients, and the overall implementation ofa much more efficient cost management philosophy. The Black Boxtechnical services model is very unique in the industry and we believeprovides the best value proposition to our clients.

"For FY07 we expect our revenue mix by technical service to beapproximately 16% data services, 65% voice services and 19% hotlineservices. Geographically we expect our revenue mix to be approximately85% North America and 15% International. Over time we will look toincrease our International revenue mix.

"In closing, we have high expectations for the future of Black Boxand will stay focused on the tasks at hand. Achieving theseexpectations will require us to successfully complete the integrationof all of our FY06 acquisitions, aggressively sell our DVH serviceseveryday throughout the world and continue to leverage our financialstrength into significant growth by consummating high quality M&Aopportunities."

The historical information in this press release and the attachedtables does not include the acquisitions of NextiraOne and NuVisionwhich closed on April 30, 2006, and May 1, 2006, respectively.

The Company will conduct a conference call beginning at 5:00 p.m.Eastern Daylight Time today, June 1, 2006. Fred C. Young, ChiefExecutive Officer, will host the call. To participate in the call,please dial 612-332-1025 approximately 15 minutes prior to thestarting time and ask to be connected to the Black Box Earnings Call.A replay of the conference call will be available for one week afterthe teleconference by dialing 320-365-3844 and using access code828910.

Any forward-looking statements contained in this release are madepursuant to the safe harbor provisions of the Private SecuritiesLitigation Reform Act of 1995. You can identify these forward-lookingstatements by the fact they use words such as "should," "anticipate,""estimate," "approximate," "expect," "target," "may," "will,""project," "intend," "plan," "believe," and other words of similarmeaning and expression in connection with any discussion of futureoperating or financial performance. One can also identifyforward-looking statements by the fact that they do not relatestrictly to historical or current facts. Forward-looking statementsare inherently subject to a variety of risks and uncertainties thatcould cause actual results to differ materially from those projected.Although it is not possible to predict or identify all risk factors,they may include levels of business activity and operating expenses,expenses relating to corporate compliance requirements, cash flows,global economic conditions, successful integration of acquisitions,including the Norstan and NextiraOne businesses, the timing and costsof restructuring programs, successful marketing of DVH (Data, Voice,Hotline) services and successful implementation of our M&A program,including identifying appropriate targets, consummating transactionsand successfully integrating the businesses. Additional risk factorsare included in the Company's Annual Report on Form 10-K. We can giveno assurance that any goal, plan or target set forth inforward-looking statements can be achieved and readers are cautionednot to place undue reliance on such statements, which speak only as ofthe date made. We undertake no obligation to release publicly anyrevisions to forward-looking statements as a result of future eventsor developments.

Black Box is the world's largest technical services companydedicated to designing, building and maintaining today's complicateddata and voice infrastructure systems. Black Box services 175,000clients in 141 countries with 168 offices throughout the world. Tolearn more, visit the Black Box website at www.blackbox.com.

Black Box and the Double Diamond logo are registered trademarksand DVH is a trademark of BB Technologies, Inc.
BLACK BOX CORPORATION
CONSOLIDATED STATEMENTS OF INCOME

Three months ended Year ended
------------------- -------------------
March 31, March 31, March 31, March 31,
In thousands, except per share 2006 2005 2006 2005
----------------------------------------------------------------------
Revenue:
Hotline products $ 53,667 $ 55,510 $213,946 $227,601
On-Site services 121,201 101,720 507,389 307,475
-------- -------- -------- --------
Total 174,868 157,230 721,335 535,076

Cost of sales
Hotline products 29,209 26,785 108,220 108,281
On-Site services 81,533 70,729 330,765 211,866
-------- -------- -------- --------
Total 110,742 97,514 438,985 320,147
-------- -------- -------- --------

Gross profit 64,126 59,716 282,350 214,929
Selling, general &
administrative expense 53,858 52,119 205,866 160,002
Restructuring and other charges - 5,059 5,290 5,059
Intangibles amortization 764 1,145 4,999 1,332
-------- -------- -------- --------
Operating income 9,504 1,393 66,195 48,536
Interest expense, net 2,437 1,319 9,123 2,755
Other expenses, net (43) 22 36 115
-------- -------- -------- --------
Income before income taxes 7,110 52 57,036 45,666
Provision for income taxes 2,454 18 19,678 15,754
-------- -------- -------- --------
Net income $ 4,656 $ 34 $ 37,358 $ 29,912
======== ======== ======== ========

Basic earnings per common share$ 0.26 $ 0.00 $ 2.18 $ 1.72
======== ======== ======== ========

Diluted earnings per common
share $ 0.26 $ 0.00 $ 2.13 $ 1.68
======== ======== ======== ========

Weighted average common shares 17,617 17,148 17,164 17,411
======== ======== ======== ========

Weighted average common &
common equivalent shares
outstanding 18,247 17,524 17,544 17,845
======== ======== ======== ========



BLACK BOX CORPORATION
CONSOLIDATED BALANCE SHEETS

March 31, March 31,
In thousands 2006 2005
----------------------------------------------------------------------
Assets
Cash and cash equivalents $ 11,207 $ 11,592
Accounts receivable, net 116,713 116,865
Lease receivables 512 1,697
Inventories, net 53,926 57,176
Costs and estimated earnings in excess
of billings on uncompleted contracts 23,803 25,695
Deferred tax asset 8,973 9,236
Net current assets of discontinued operations 467 549
Other current assets 15,523 14,724
--------- ---------
Total current assets 231,124 237,534
--------- ---------
Property, plant and equipment, net 35,124 38,268
Goodwill, net 468,724 444,567
Intangibles, net 55,440 44,157
Lease receivables, net of current portion - 473
Deferred tax asset 4,231 3,793
Discontinued operations, net of current portion - 373
Other assets 5,091 3,725
--------- ---------
Total assets $ 799,734 $ 772,890
--------- ---------
Liabilities
Current maturities of long-term debt $ 1,049 $ 692
Current maturities of discounted lease rentals 30 890
Accounts payable 44,943 36,032
Billings in excess of costs and estimated
earnings on uncompleted contracts 8,648 8,947
Deferred revenue 22,211 21,456
Accrued liabilities:
Compensation and benefits 13,954 14,270
Restructuring 3,292 6,709
Other liabilities 27,817 32,708
Income taxes 5,924 3,295
--------- ---------
Total current liabilities 127,868 124,999
--------- ---------
Long-term debt 122,673 147,196
Discounted lease rentals - 30
Deferred taxes - -
Other liabilities 887 75
Restructuring reserve 7,406 9,889
Stockholders' Equity
Common stock 25 24
Additional paid-in capital 362,810 336,290
Retained earnings 461,853 428,632
Treasury stock, at cost (296,824) (296,797)
Accumulated other comprehensive gain 13,036 22,552
--------- ---------
Total stockholders' equity 540,900 490,701
--------- ---------
Total liabilities and stockholders' equity $ 799,734 $ 772,890
--------- ---------


BLACK BOX CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS

Three Months Ended Year Ended
-------------------- --------------------
March 31, March 31, March 31, March 31,
In thousands 2006 2005 2006 2005
----------------------------------------------------------------------
Operating Activities
Net income $ 4,656 $ 34 $ 37,358 $ 29,912
Adjustments to reconcile net
income to cash
Provided by operating
activities:
Intangibles amortization 764 1,145 4,999 1,332
Depreciation 2,153 2,253 8,931 6,623
Deferred tax provision /
(benefit) 1,871 (1,852) (212) (77)
Stock compensation
expense -- -- -- 680
Tax benefit from
exercised stock options 147 (83) (3,200) (3,472)
Changes in operating assets
and liabilities:
Accounts receivable, net 9,296 7,725 9,369 8,878
Inventories, net (673) 2,336 5,000 (76)
Other current assets 6,271 2,419 7,541 3,307
Proceeds from lease
contracts (88) 504 1,658 504
Accounts payable and
accrued liabilities (11,512) 3,317 (19,647) 4,595
--------- ---------- --------- ---------
Net cash provided by
operating activities $ 12,885 $ 17,798 $ 51,797 $ 52,206
--------- ---------- --------- ---------
Investing Activities
Capital expenditures, net$ (751) $ (470) $ (2,670) $ (2,319)
Acquisition of
businesses, net of cash
acquired -- (102,553) (40,682) (102,553)
Prior merger-related
payments -- 605 (378) 107
--------- ---------- --------- ---------
Net cash used in investing
activities $ (751) $(102,418) $(43,730) $(104,765)
--------- ---------- --------- ---------
Financing Activities
Proceeds/(repayments) on
borrowings, net $(18,689) $ 106,414 $(26,107) $ 110,450
Repayments on discounted
lease rentals (43) (458) (890) (458)
Proceeds from exercise of
options 6,976 609 23,320 7,919
Payment of dividends (1,045) (1,038) (4,094) (3,847)
Deferred financing costs (180) (1,117) (180) (1,352)
Purchase of treasury
stock (13) (19,327) (27) (56,912)
--------- ---------- --------- ---------
Net cash provided/(used) in
financing activities $(12,994) $ 85,083 $ (7,978) $ 55,800
Foreign currency exchange
impact on cash $ (76) $ 182 $ (474) $ (955)
--------- ---------- --------- ---------
Increase/(decrease) in cash &
cash equivalents $ (936) $ 645 $ (385) $ 2,286
Cash & cash equivalents at
beginning of period 12,143 10,947 11,592 9,306
--------- ---------- --------- ---------
Cash & cash equivalents at
end of period $ 11,207 $ 11,592 $ 11,207 $ 11,592
--------- ---------- --------- ---------

Non-GAAP Measurements

The financial information presented in this release containscertain non-GAAP financial measures. Management uses the non-GAAPmeasures to improve the comparisons between fiscal periods. Managementbelieves the use of non-GAAP measures improves the investor's abilityto make comparisons between fiscal periods and provides usefulinformation to investors regarding the Company's financial conditionand its results of operations. In accordance with SEC Regulation G,the following financial highlights tables reconcile (1) free cashflow; (2) cash provided by operating activities excludingrestructuring payments and satisfaction of a litigation judgment; (3)net income excluding restructuring charges and reconciling items; and(4) diluted EPS excluding restructuring charges and reconciling items;to the most directly comparable U.S. GAAP measures. The additionalnon-GAAP financial information presented should be considered inconjunction with, and not as a substitute for, or superior to, thefinancial information presented in accordance with GAAP. All dollaramounts are in thousands.

Management believes that free cash flow, defined by the Company ascash provided by operating activities less net capital expenditures,plus proceeds from option exercises, plus or minus foreign currencytranslation adjustments, is an important measurement of liquidity asit represents the total cash available to the Company. Areconciliation of cash provided by operating activities to free cashflow is presented below:
4Q06 3Q06 4Q05 FY06 FY05
----------------------------------------------------------------------
Cash provided by operating
activities $12,885 $16,438 $17,798 $51,797 $52,206
Capital expenditures (964) (1,551) (927) (4,115) (3,506)
Capital disposals 213 231 457 1,445 1,187
Proceeds from stock option
exercises 6,976 8,892 609 23,320 7,919
Foreign currency exchange
impact on cash (76) (408) 182 (474) (955)
----------------------------------------------------------------------
Free cash flow $19,034 $23,602 $18,119 $71,973 $56,851
----------------------------------------------------------------------

Management believes that presenting cash provided by operatingactivities exclusive of the cash flow impact from items that rarelyoccur or only occur once is a more meaningful measurement of cashprovided by operating activities on an ongoing basis and allows thereader to more accurately compare other fiscal periods where theevents did not occur. A reconciliation of cash provided by operatingactivities to cash provided by operating activities excludingrestructuring payments and satisfaction of a litigation judgment ispresented below:
4Q06 3Q06 4Q05 FY06 FY05
----------------------------------------------------------------------
Cash provided by operating
activities $12,885 $16,438 $17,798 $51,797 $52,206
Restructuring payments 1,753 1,537 1,266 10,918 1,653
Satisfaction of a
litigation judgment -- -- -- 1,778 --
----------------------------------------------------------------------
Cash provided by operating
activities excluding
restructuring payments and
satisfaction of a litigation
judgment $14,638 $17,975 $19,064 $64,493 $53,859
----------------------------------------------------------------------

Management believes that presenting net income and dilutedearnings per share excluding restructuring charges and reconcilingitems is useful to investors because it provides a more meaningfulcomparison of the ongoing operations of the Company. Included inreconciling items are acquisition-related expenses from the purchaseof Norstan and the Italian Operations Adjustment in FY06 andacquisition-related expenses from the purchase of Norstan, settlementof a litigation matter and costs associated with the establishment andreview of procedures to comply with the requirements of Section 404 ofthe Sarbanes-Oxley Act of 2002 in FY05. A reconciliation of net incometo net income excluding restructuring charges and reconciling items ispresented below:
4Q06 4Q05 FY06 FY07
----------------------------------------------------------------------
Net income $4,656 $34 $37,358 $29,912
% of revenues 2.7% 0.0% 5.2% 5.6%
Restructuring charges, after tax impact -- 3,314 3,465 3,314
Reconciling items, after tax impact 4,931 3,471 8,431 4,650
----------------------------------------------------------------------
Net income excluding restructuring
charges and reconciling items $9,587 $6,819 $49,254 $37,876
% of revenues 5.5% 4.3% 6.8% 7.1%
----------------------------------------------------------------------

A reconciliation of diluted earnings per common share (EPS) todiluted EPS excluding restructuring charges and reconciling items ispresented below:
4Q06 4Q05 FY06 FY05
----------------------------------------------------------------------
Diluted EPS $0.26 $0.00 $2.13 $1.68
EPS impact of restructuring charges -- 0.19 0.20 0.19
EPS impact of reconciling items 0.27 0.20 0.48 0.26
----------------------------------------------------------------------
Diluted EPS excluding restructuring
charges and reconciling items $0.53 $0.39 $2.81 $2.13
----------------------------------------------------------------------

SUPPLEMENTAL INFORMATION:

Additionally, the following supplemental information is beingprovided for comparisons of fourth quarter ended March 31, 2006reported results to this year's third quarter and prior year's fourthquarter. All Dollar amounts are in thousands unless noted otherwise.

Information on revenues and operating income by geography ispresented below. Management believes it is important to separatelypresent the restructuring charges and reconciling items. Reconcilingitems consist of acquisition-related expenses from the purchase ofNorstan and the Italian Operations Adjustment in the 2006 periods andacquisition-related expenses from the purchase of Norstan, settlementof a litigation matter and costs associated with the establishment andreview of procedures to comply with the requirements of Section 404 ofthe Sarbanes-Oxley Act of 2002 in the 2005 periods. Managementbelieves this enables a clearer understanding of the ongoingoperations of the Company and allows the reader to more accuratelycompare other fiscal periods where the events did not occur.

Information on revenues and operating income for geographicalsegments is presented below:
4Q06 3Q06 4Q05 FY06 FY05
----------------------------------------------------------------------
Revenues:
North America $137,912 $143,173 $112,047 $564,700 $355,013
Europe 27,152 29,950 35,501 120,051 142,838
All Other 9,804 9,012 9,682 36,584 37,225
-------- -------- -------- -------- --------
Total $174,868 $182,135 $157,230 $721,335 $535,076

Operating income:
North America $ 9,414 $ 15,740 $ (295)$ 53,550 $ 26,798
% of North America
revenues 6.8% 11.0% (0.3)% 9.5% 7.5%
Europe (1,643) 4,101 274 5,518 13,639
% of Europe revenues (6.1)% 13.7% 0.8% 4.6% 9.5%
All Other 1,733 1,771 1,414 7,127 8,099
% of All Other revenues 17.7% 19.7% 14.6% 19.5% 21.8%
-------- -------- -------- -------- --------
Total $ 9,504 $ 21,612 $ 1,393 $ 66,195 $ 48,536
% of Total revenues 5.4% 11.9% 0.9% 9.2% 9.1%

Restructuring charges and
reconciling items
North America $ 464 $ 1,245 $ 9,356 $ 7,358 $ 11,156
Europe 7,065 -- 1,003 10,807 1,003
All Other -- -- -- -- --
-------- -------- -------- -------- --------
Total $ 7,529 $ 1,245 $ 10,359 $ 18,165 $ 12,159

Operating income excluding
restructuring charges and
reconciling items
North America $ 9,878 $ 16,985 $ 9,061 $ 60,908 $ 37,954
% of North America
revenues 7.2% 11.9% 8.1% 10.8% 10.7%
Europe 5,422 4,101 1,277 16,325 14,642
% of Europe revenues 20.0% 13.7% 3.6% 13.6% 10.3%
All Other 1,733 1,771 1,414 7,127 8,099
% of All Other revenues 17.7% 19.7% 14.6% 19.5% 21.8%
-------- -------- -------- -------- --------
Total $ 17,033 $ 22,857 $ 11,752 $ 84,360 $ 60,695
% of Total revenues 9.7% 12.5% 7.5% 11.7% 11.3%
------------------------- -------- -------- -------- -------- --------

Information on revenues and gross profit for data services, voice
services and hotline services is presented below:

4Q06 3Q06 4Q05 FY06 FY05
----------------------------------------------------------------------
Revenues:
Data Services $ 44,017 $ 47,083 $ 48,799 $196,585 $200,935
Voice Services 77,184 82,281 52,921 310,804 106,540
Hotline Services 53,667 52,771 55,510 213,946 227,601
-------- -------- -------- -------- --------
Total $174,868 $182,135 $157,230 $721,335 $535,076

Gross Profit:
Data Services $ 11,268 $ 14,794 $ 13,343 $ 57,068 $ 59,354
% of Data Services
revenues 25.6% 31.4% 27.3% 29.0% 29.5%
Voice Services 28,400 32,145 17,648 119,556 36,255
% of Voice Services
revenues 36.8% 39.1% 33.3% 38.5% 34.0%
Hotline Services 24,458 26,463 28,725 105,726 119,320
% of Hotline Services
revenues 45.6% 50.1% 51.7% 49.4% 52.4%
-------- -------- -------- -------- --------
Total $ 64,126 $ 73,402 $ 59,716 $282,350 $214,929
% of Total revenues 36.7% 40.3% 38.0% 39.1% 40.2%

Reconciling items:
Data Services $ 2,071 -- -- $ 2,071 --
Voice Services -- -- -- -- --
Hotline Services 1,517 -- -- 1,517 --
-------- -------- -------- -------- --------
Total $ 3,588 -- -- $ 3,588 --

Gross Profit including:
Data Services $ 13,339 $ 14,794 $ 13,343 $ 59,139 $ 59,354
% of Data Services
revenues 30.3% 31.4% 27.3% 30.1% 29.5%
Voice Services 28,400 32,145 17,648 119,556 36,255
% of Voice Services
revenues 36.8% 39.1% 33.3% 38.5% 34.0%
Hotline Services 25,975 26,463 28,725 107,243 119,320
% of Hotline Services
revenues 48.4% 50.1% 51.7% 50.1% 52.4%
-------- -------- -------- -------- --------
Total $ 67,714 $ 73,402 $ 59,716 $285,938 $214,929
% of Total revenues 38.7% 40.3% 38.0% 39.6% 40.2%

Information on revenues on a same-office basis is presented below:

4Q06 4Q05 Change
----------------------------------------------------------------------
Revenues as reported $174,868 $157,230 11%
Less revenues from offices added since Fiscal
2005 (58,440) (35,208)
-------------------------
Revenues on same-office basis $116,428 $122,022 (5)%
----------------------------------------------------------------------

Information on various balance sheet ratios, backlog and headcount
is presented below. Dollar amounts are in millions.

4Q06 3Q06 4Q05
----------------------------------------------------------------------
Accounts Receivable:
Gross Accounts Receivable $ $126.2 $133.9 $124.2
Reserve $ / % $9.5/7.5% $8.3/6.2% $7.3/5.9%
------ ------ ------
Net Accounts Receivable $ $116.7 $125.6 $116.9

Net Days Sales Outstanding 54 days 57 days 57 days

Inventory:
Gross Inventory $ $68.2 $66.9 $69.7
Reserve $ / % $14.3/21.0% $13.5/20.2% $12.5/17.9%
------ ------ ------
Net Inventory $ $53.9 $53.4 $57.2

Net Inventory Turns 7.3x 6.8x 6.4x

Six-Month Order Backlog $96 $94 $97

Team Members 3,295 3,273 3,371
----------------------------------------------------------------------