Advance Auto Parts 2001 Annual Report Download - page 4

2 ADVANCE AUTO PARTS ANNUAL REPORT 2001
The best part is our people
We believe Advance Auto Parts has the best team in the automotive
aftermarket. Whether in our stores or behind the scenes, we work as a team
to provide our customers the highest level of customer service, broad
product selection, excellent value prices, and conveniently located stores.
$848
1997
$1,221
1998
$2,207
1999
$2,288
2000
$2,518
2001
Sales
(in millions)
1997 1998 1999 2000
6.2
4.4
10.3
7.8
5.7
2001
Comparable Store Sales
(in percentages)
1997 1998 1999 2000
$1,076
$896
$803
$455
$324
2001
Gross Profit*
(in millions)
1997 1998 1999 2000
$200
$162
$122
$93
$68
2001
EBITDA, as adjusted*
(in millions)
By focusing on our customers, our team achieved strong results this year:
2001 2000 Increase
Sales (In thousands) $ 2,517,639 $ 2,288,022 10.0%
Comparable Store Sales 6.2% 4.4%
Operating Income*(In thousands) $ 123,770 $ 92,789 33.4%
Operating Margin 4.9% 4.1%
EBITDA, as adjusted* (In thousands) $ 199,710 $ 161,876 23.4%
EBITDA, as adjusted* (In thousands) $ 38,097 $ 16,626 129.1%
Earnings Per Share* $ 1.31 $ 0.58 125.9%
* 2001 results of operations listed above excludes non-recurring expenses recorded in the fourth quarter of 2001 associated with
our supply chain initiatives, the impairment of assets held for sale, merger related restructuring, merger and integration expenses
and non-cash stock option compensation expenses. (See accompanying financial statements and related footnotes and
management's discussion and analysis of financial condition and results of operations included elsewhere in this report.)
Financial Highlights
Our first priority is outstanding customer
service. Whether our customers are
replacing their engine, brakes, or just an
oil filter, our team members are there to
make sure they not only have quality
parts, but also knowledgeable and
friendly advice to make sure the job is
done right the first time. We do whatever
it takes to build lasting relationships with
our customers.
Tommy Garth, Customer Service Tommy came to Advance Auto Parts with five years experience as a mechanic. He now uses that practical experience to help
customers determine their vehicle’s problem – and then makes sure they have all the necessary parts to fix it. He often knows the insider tips that make the job easier.
Tommy’s loved cars since he was five years old – and our customers love Tommy. 3
Income before extraordinary item and
cumulative effect of a change in
accounting principle (in thousands)*
Income before extraordinary item and
cumulative effect of a change in
accounting principle per diluted share*