HISTORICAl FINANCIAl DATA (000s, except per share amounts) 2011 2010  2009*  2008*  2007*  2006*  2005*  2004*  2003*  2002*  Sales $ 668,589  $ 584,715 $ 627,186 $ 615,948 $ 275,317 $  261,662 $ 250,108  $ 259,267 $ 280,639 $ 282,364  Gross profit 151,930 137,173 134,525 132,248 71,243  68,603  67,005 73,491 79,706 76,228  Distribution expenses  (35,021) (30,027)  (32,371)  (37,048)  (20,184)  (21,472)  (21,607)  (20,163)  (19,028)  (16,085) Selling, general and administrative expenses  (72,086) (68,500)   (67,047)  (65,553)  (39,473)  (36,621)  (38,568)   (37,356)   (41,722)  (38,755) Business acquisition, integration costs, and other income or expenses   (11,275)  (875)  (460)  (4,879)   (1,286)  –  –  –   –  –  Non-operating items   –   –  (921)   (84)  334  (172)   531  895   38,566  157  Results from operating activities 33,548  37,771  33,726 24,684  10,635  10,337 7,362   16,867  57,522  21,545  Finance costs   (5,983)  (5,165)  (5,582)  (6,449)  (49)  (919)   (418)  (352)   (1,699)   (4,563) Share of income of equity accounted  investee (net of income tax)  (53)  18  –  –  –  –  –  –  –  –  Income before income taxes 27,512  32,624 28,144 18,235  10,586  9,418   6,944  16,515  55,823   16,982  Income taxes  Current   (5,692)   (6,380)  (2,548)  (3,002)   (2,505)  (2,481)  (1,042)   (723)  (599)  (1,404) Deferred   (3,640)  (6,259)  (5,851)  (1,043)   (1,163)  (1,815)  (2,046)  (3,526)   (2,914)  (3,385) Total income taxes  (9,332) (12,639)  (8,399)  (4,045)   (3,669)  (4,295)   (3,088)  (4,249)  (3,513)  (4,789) Net income from continuing  operations for the period  18,180  19,985   19,746 14,190 6,918 5,123 3,856 12,266 52,310 12,193  Net loss from discontinued  operations, net of income taxes   –  –  –  –   372 (793)  (44,323)  (4,104)  (6,506)   (2,204) Net income (loss) for the period  $  18,180 $  19,985  $  19,746  $  14,190  $  7,290  $  4,330  $  (40,467)  $  8,162  $  45,804  $  9,989  Reconciliation to EBITDA: Add back: Net loss from discontinued  operations, net of income taxes  $  – $  –  $  – $  –  $  (372) $  793  $  44,323  $  4,104  $  6,506  $  2,204  Income tax expense  9,332  12,639  8,398   4,045   3,669  4,297 3,088  4,249  3,513  4,789  Interest expense   5,983 5,165  5,445   6,463  377   907  419  352  1,699  4,563  Amortization of intangible assets   1,833 1,204 1,499  1,383  8  12  1  9  –  – Depreciation  7,901 7,304   6,610  6,469  3,079  3,005  3,061 3,099 3,331 4,678  Standardized EBITDA $  43,229  $  46,296  $  41,698  $  32,551  $  14,051  $  13,344  $  10,425  $  19,975  $  60,853  $  26,223  Add back: Business acquisition costs  11,275 875  460 4,879   1,286  –  –  –  –  – Loss (Gain) on fixed assets  193  13  492  402  51  48 123  (6)   (122)   (199) Non-operating items  – –  921  84 (334)   172  (531)   (895)  (38,566)   (157) Adjusted EBITDA (2) $  54,697 $  47,184  $  43,571  $  37,916  $  15,054  $  13,564  $  10,017  $  19,074  $  22,165  $  25,867 Income before income taxes from above  $  27,512 $  32,624  $  28,144  $  18,235  $  10,586  $  9,418  $  6,944  $  16,515  $  55,823  $  16,982  Add: Business acquisition integration  costs, other income or expenses and non-operating items from above  (11,275)  (875)  (1,381)  (4,963)  (953)  (172)  531  895  38,566  157 Income before taxes, business acquisition  integration costs, other income or  expenses and non-operating items $  38,787 $  33,499 $  29,525 $  23,198 $  11,539 $  9,591 $  6,413 $  15,620 $  17,257 $  16,825  Income taxes on the above  (11,232) (11,963)  (8,638)  (4,852)   (4,014)  (4,301)  (1,994)  (3,956)  (6,363)  (6,787) After-tax income before business  acquisition, integration costs, other income or expenses and  non-operating items $  27,555 $  21,536 $  20,887 $  18,346 $  7,525 $  5,290 $  4,419 $  11,664 $  10,894 $  10,038  Book value per common share at year end 10.71 9.72  8.57 8.44  6.01  4.97  4.72   9.24 9.31 6.79  Basic info per common share  Based on net income  1.20  1.24 1.07 0.88  0.58 0.30 (3.93)  0.66 4.49  0.90  Based on income from continuing operations  1.20  1.24 1.07 0.88   0.55 0.38  0.26 1.04  5.15  1.13  Based on after-tax operating income  from continuing operations  1.82  1.34  1.14  1.16  0.61 0.40 0.32  0.98   0.98 0.91  Based on net income, excluding  business acquisition costs Diluted info per common share Based on net income  1.19  1.23  1.07 0.77  0.57  0.30 (3.93)  0.65 4.10  0.84  Based on income from continuing operations  1.19  1.23 1.07   0.73  0.54  0.38 0.27 1.02 4.68  1.04  Based on after-tax operating income  from continuing operations   1.80   1.33   1.14  1.00  0.61 0.40 0.32  0.96   0.90 0.84  Common shares Outstanding at year end   15,087  15,149 18,331  18,471  13,381 10,315 10,284   10,710  10,794 9,836  Average outstanding for the year   15,109  16,096 18,385  15,059  10,443 10,306 10,567 10,863  9,945 9,822  118 HIGH lIneR FooDS InCoRpoRAteD