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## financial highlights . 

## Fiscal Years Ended March 31 

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(a) The sale of Pioneer-Standard Electronics, Inc.’s (“the Company”) Industrial Electronics Division (“IED”) and the related discontinuation of the operations of Aprisa, Inc. in Februar y 2003 represent a disposal of a “component of an entity” as defined in Statement of Financial Accounting Standard (“SF AS”) No. 144, “Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of.” Accordingly, 2002 and 2001 have been restated to reflect the results of operations of IED and Aprisa, Inc. as discontinued operations. 

(b) In March 2003, the Company recorded a restructuring char ge of $20.7 million ($13.0 million, after tax) for the impair- ment of facilities and other assets and for severance costs incurred in connection with downsizing the Company’s cor- porate structure. In Fiscal 2001, the Company recognized a non-cash write-down of $14.2 million ($10.8 million, after tax) for the abandonment of certain information technology system assets. 

(c) In March 2003, the Company recognized an impairment char ge of $14.6 million ($9.2 million, after tax) on an available- for-sale investment. 

(d) In March 2003, the Company tendered for and repurchased certain of its 9.5% Senior Notes, which resulted in a pre- tax charge of $1.2 million ($0.7 million, after tax) associated with the premium paid and the write-off of related financing costs. 

(e) On April 1, 2002, the Company adopted SFAS No. 142, “Goodwill and Other Intangible Assets,” which requires that amortization of goodwill be replaced with period tests for goodwill impairment. The adoption of SFAS No. 142 resulted in a charge of $34.8 million, net of tax. 

