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## 15 

## QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) 

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The sale of IED and the related discontinuation of the operations of Aprisa in the fourth quarter of 2003 represent a disposal of a ‘‘component of an entity’’ as defined in SFAS No. 144, ‘‘Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of.’’ Accordingly, the first three quarters of Fiscal 2003 and all of Fiscal 2002 have been restated to reflect the results of operations of IED and Aprisa as discontinued operations. 

Included in the results of the fourth quarter of Fiscal 2003, is a restructuring charge of $20.7 million ($13.0 million, after tax) for the impairment of facilities and other assets and for severance costs incurred in connection with downsizing Pioneer-Standard’s corporate structure. Additionally, included in the fourth quarter of Fiscal 2003, is a pre-tax charge of $14.6 million ($9.2 million, after tax) for an impairment of an available-for-sale investment and a pre-tax charge of $1.2 million ($0.7 million, after tax) for the premium paid and the write-off of related financing costs associated with the Company’s Tender Offer of its 9.5% Senior Notes. 

On April 1, 2002, Pioneer-Standard 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 

