Q2 net sales and orders decreased 0.5% and 4.2%, respectively, from the prior year; on an organic basis, sales increased 1.1% and orders decreased 2.7% over prior year

Gross margin in Q2 declined 100 bps from the prior year due to higher commodity costs and discounting levels, offset by operational improvements.

EPS in Q2 totaled $0.53 per share; $0.54 per share on an adjusted basis.

$164 $169 $174 $167

$50

$70

$90

$110

$130

$150

$170

$190

Q3 FY16

Q4 FY16

Q1 FY17

Q2 FY17

$200

$300

$400

$500

$600

$700

Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17

$537$583 $599

$578

$509

$606 $596 $576

Quarterly Net Sales + Orders($ millions)

Quarterly Operating Expenses($ millions)

Net Sales Orders

38.7% 38.7% 38.4% 37.7%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

Gross Margin %Adjusted Operating Income %

Gross Margin and Adjusted Operating Margin(% net sales)

8.3% 8.7% 9.4% 8.8%

Q3 FY16 Q2 FY17Q1 FY17Q4 FY16

Q2 ending cash and equivalents totaled $68 million.

LT Debt maturity schedule:

– PPN ($150M) due 2018– Revolver ($20M) due 2021– PPN ($50M) due 2021

Availability of $372 million on the revolving line of credit at the end of Q2.

CAPEX totaled $25 million in Q2. Expect $85 - $95 million for fiscal 2017.

Q2 dividends paid totaled $10 million and share repurchases of $5 million.

Quarterly Cash Flow from Operations($ millions)

Q3 FY16

Q4 FY16

Q1 FY17

Q2 FY17

$53

$85

$30

$60

$0$10$20$30$40$50$60$70$80$90

Q3 FY16

Q4 FY16

Q1 FY17

Q2 FY17

Rolling 4 Qtr Coverage Ratio(EBITDA(1) to Interest)

Rolling 4 Qtr Leverage Ratio(Debt to EBITDA)(1)

(1) Represents a Non-GAAP Measure, see Appendix for reconciliation.

17.3 18.0 18.3 17.9

0.02.04.06.08.0

10.012.014.016.018.020.0

Bank Covenant > 4.0

0.9 0.8 0.9 0.8

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0 Bank Covenant < 3.5

Q3 FY16

Q4 FY16

Q1 FY17

Q2 FY17

Q3 Fiscal 2017

Net Sales $520 to $540 million

Gross Margin % 37.0% to 38.0%

Operating Expenses $164 to $168 million

Effective Tax Rate 31% to 33%

Earnings Per Share, Diluted $0.31 to $0.35

Guidance as provided in December 21, 2016 earnings press release:

Adjusted Operating EarningsQ2 FY17

Net Sales 577.5$

Operating Earnings (GAAP) 49.6$ Operating Earnings (%) 8.6%Add: Restructuring and Impairment Expenses 1.0

Adj. Operating Earnings (non-GAAP) 50.6$ Adj. Operating Earnings (%) 8.8%

Adjusted Earnings per ShareQ2 FY17

Earnings per Share - Diluted 0.53$ Add: Restructuring Expenses 0.01$ Adjusted Earnings per Share - Diluted 0.54$

Adjusted EBITDA (Bank) RatiosTrailing 4-Quarter Period EndedQ3 FY16 Q4 FY16 Q1 FY17 Q2 FY17

Earnings Before Income Taxes (EBT) 176.3 196.6 199.1 192.4 Add: Depreciation 45.0 47.0 47.1 47.7 Amortization 6.1 6.0 6.0 6.0 Interest 15.3 15.4 15.2 15.3 Other Adjustments (1) 21.9 11.9 11.4 11.9 Adjusted EBITDA - Bank 264.6$ 276.9$ 278.8$ 273.3$

Total Debt, End of Trailing Period (includes outstanding LC's) 249.6$ 231.2$ 242.8$ 228.5$

Rolling 4-Quarter Debt-to-Adj. EBITDA 0.9 0.8 0.9 0.8

Rolling 4-Quarter Adj. EBITDA-to-Interest 17.3 18.0 18.3 17.9

(1) "Other Adjustments" include, as applicable in the period, charges associated w ith business restructuring actions, non-cash stock-based compensation, as described in lending agreements.