American Eagle Outfitters 2004 Annual Report Download - page 43

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29
Part II
AMERICAN EAGLE OUTFITTERS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended
(In thousands, except per share amounts) January 29,
2005
January 31,
2004
February 1,
2003
(Restated) (Restated)
Net sales $1,881,241 $1,435,436 $1,382,923
Cost of sales, including certain buying, occupancy and
warehousing exp
enses
1,003,433 885,939 841,968
Gross profit 877,808 549,497 540,955
Selling, general and administrative expenses 446,829 356,261 328,733
Depreciation and amortization expense 68,273 59,965 53,361
Operating income 362,706 133,271 158,861
Other income, net 4,129 2,016 2,418
Income before income taxes 366,835 135,287 161,279
Provision for income taxes 142,603 52,179 61,635
Income from continuing operations 224,232 83,108 99,644
Loss from discontinued operations, net of income tax benefit (10,889) (23,486) (11,536)
Net income $213,343 $59,622 $88,108
Basic income per common share:
Income from continuing operations $1.55 $0.59 $0.69
Loss from discontinued operations (0.08) (0.17) (0.08)
Net income per basic share $1.47 $0.42 $0.61
Diluted income per common share:
Income from continuing operations $1.49 $0.57 $0.68
Loss from discontinued operations (0.07) (0.16) (0.08)
Net income per diluted share $1.42 $0.41 $0.60
Weighted average common shares outstanding - basic 145,150 142,226 143,418
Weighted average common shares outstanding - diluted 150,244 144,414 145,566
See Notes to Consolidated Financial Statements