Minnesota		41-0919654
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification Number)
7900 Xerxes Avenue South – Suite 1800
Minneapolis, Minnesota		55431
(Address of principal executive offices)		(Zip Code)

Class Common Stock, $.331/3 Par Value		Outstanding at September 30, 2002 27,658,405

		Description		Page
PART I
Item 1.		Financial Statements
		Consolidated Balance Sheets as of August 31, 2002 and March 2, 2002		3
		Consolidated Results of Operations for the Three Months and Six Months Ended August 31, 2002 and September 1, 2001		4
		Consolidated Statements of Cash Flows for the Six Months Ended August 31, 2002 and September 1, 2001		5
		Notes to Consolidated Financial Statements		6-11
Item 2.		Management’s Discussion and Analysis of Financial Condition and Results of Operations		11-15
Item 3.		Quantitative and Qualitative Disclosures About Market Risk		15
Item 4.		Evaluation of Disclosure Controls and Procedures		15
PART II		Other Information
Item 4.		Submission of Matters to a Vote of Security Holders		17
Item 6.		Exhibits and Reports on Form 8-K		17
		Exhibit Index		21

		August 31,
		2002				March 2,
(In thousands, except share and per share data)		(unaudited)				2002
Assets
Current assets
Cash and cash equivalents		$	8,557			$	15,361
Receivables, net of allowance for doubtful accounts			113,390				115,159
Inventories			34,647				36,022
Deferred tax assets			5,002				4,875
Other current assets			2,644				3,667
Total current assets			164,240				175,084
Property, plant and equipment, net			121,040				128,515
Marketable securities available for sale			16,231				22,825
Investments in affiliated companies			20,957				22,110
Goodwill			55,914				55,614
Identifiable intangible assets, at cost less accumulated amortization of $4,602 and $5,820, respectively			1,636				1,024
Other assets			3,627				3,944
Total assets		$	383,645			$	409,116
Liabilities and Shareholders’ Equity
Current liabilities
Accounts payable		$	50,260			$	51,887
Accrued expenses			46,471				57,766
Current liabilities of discontinued operations, net			3,453				3,740
Billings in excess of costs and earnings on uncompleted contracts			6,093				6,127
Accrued income taxes			12,633				7,079
Current installments of long-term debt			540				640
Total current liabilities			119,450				127,239
Long-term debt, less current installments			51,736				69,098
Other long-term liabilities			26,347				25,867
Liabilities of discontinued operations, net			15,008				15,978
Commitments and contingent liabilities (Note 9)			—				—
Shareholders’ equity
Common stock of $0.33-1/3 par value; authorized 50,000,000 shares; issued and outstanding, 27,748,000 and 28,334,000, respectively			9,249				9,445
Additional paid-in capital			53,336				50,521
Retained earnings			112,386				113,382
Unearned compensation			(2,674	)			(1,547	)
Accumulated other comprehensive loss			(1,193	)			(867	)
Total shareholders’ equity			171,104				170,934
Total liabilities and shareholders’ equity		$	383,645			$	409,116

		Three-months-ended							Six-months-ended
(In thousands, except share and per share data)		August 31, 2002				September 1, 2001			August 31, 2002				September 1, 2001
Net sales		$	200,282			$	210,233		$	384,991			$	413,839
Cost of sales			148,487				158,833			287,243				317,135
Gross profit			51,795				51,400			97,748				96,704
Selling, general and administrative expenses			38,431				35,476			74,682				72,807
Operating income			13,364				15,924			23,066				23,897
Interest expense, net			834				1,234			1,826				3,156
Equity in (loss) income of affiliated companies			(112	)			297			(1,230	)			2,365
Earnings from operations before income taxes			12,418				14,987			20,010				23,106
Income taxes			3,850				4,646			6,203				7,163
Net earnings		$	8,568			$	10,341		$	13,807			$	15,943
Earnings per share—basic		$	0.31			$	0.37		$	0.49			$	0.57
Earnings per share—diluted		$	0.30			$	0.36		$	0.48			$	0.56
Weighted average basic shares outstanding			27,740,000				27,956,000			27,900,000				27,815,000
Weighted average diluted shares outstanding			28,637,000				28,889,000			28,863,000				28,604,000
Dividends per common share		$	0.055			$	0.110		$	0.053			$	0.105

(In thousands)		August 31, 2002				September 1, 2001
Operating Activities
Net earnings		$	13,807			$	15,943
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization			12,056				13,482
Deferred income taxes			(119	)			(1,042	)
Results from equity investments			1,230				(2,365	)
(Investments in) dividends received from equity investments			(77	)			2,579
Gain on disposal of assets			(1,541	)			(477	)
Other, net			385				1,201
Changes in operating assets and liabilities, net of effect of acquisitions:
Receivables			1,769				(2,653	)
Inventories			1,375				1,589
Accounts payable and accrued expenses			(12,247	)			(6,946	)
Billings in excess of costs and earnings on uncompleted contracts			(34	)			(2,291	)
Refundable and accrued income taxes			5,554				4,835
Net cash provided by operating activities			22,158				23,855
Investing Activities
Capital expenditures			(6,031	)			(5,488	)
Proceeds from sale of property, plant and equipment			2,388				30
Acquisition of businesses, net of cash acquired			(300	)			(247	)
Purchases of marketable securities			(3,648	)			—
Sales/maturities of marketable securities			10,367				4,399
Net cash provided by (used in) investing activities			2,776				(1,306	)
Financing Activities
Change in net borrowings under revolving credit agreement	&