(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. (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. (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. (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. (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. (In thousands, except per share data) 2003 2002 2001  Continuing operations (a) Net sales $ 1,171,631 $1,294,322 $1,431,838 Operating income (loss) (b) (7,343 15,328 825 Income (loss) before income taxes (b)(c)(d) (31,484 4,944 (15,724 Provision (benefit) for income taxes (11,739 1,618 (3,713 Loss from continuing operations (b)(c)(d) $ (26,060 $ (2,911 $ (18,316 Income (loss) from discontinued operations,  net of taxes (a) $ 18,777 $ (4,136 $ 52,892 Cumulative effect of change in accounting principle, net of tax (e) (34,795 – – Net income (loss) (a)(b)(c)(d)(e) $ (42,078 $ (7,047 $ 34,576 PER SHARE DATA Loss from continuing operations – basic and diluted (a)(b)(c)(d) $ (0.96 $ (0.11 $ (0.68 Net income (loss) –  basic and diluted (a)(b)(c)(d)(e) (1.54 (0.26 1.29 Dividends 0.12 0.12 0.12 Book value $  10.88 $ 12.56 $ 13.18 Weighted average shares outstanding Basic and diluted 27,292 27,040 26,793 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Fiscal Years Ended March 31 financial highlights . singular focus.