1 9 a n u l r e p o t crane co table of contents financial highlights letter to shareholders 2 management s discussion and analysis operations 6 consolidated statements 15 notes 19 responsibility for reporting 29 independent auditors report directors officers 36 shareholder information 37 our credo we strive dominant presence in niche markets generate solid rates return on invested capital high levels cash flow use effectively grow strengthen existing businesses acquire new that fit with position maintain an incentive compensation plan specifically designed align the interests do this one goal mind build value shares thousands except per share data 1999 1998 change summary net sales 553 657 561 055 ebitda b 279 916 276 323 3 operating profit 204 541 211 961 5 income before taxes 190 782 192 789 0
