American Eagle Outfitters 2004 Annual Report Download - page 69

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55
Part II
15. Quarterly Financial Information - Unaudited
Due to the disposition of Bluenotes during December 2004, Bluenotes’ results of operations are presented as
discontinued operations for all periods. As a result, the quarterly data presented below will not agree to previously
issued quarterly statements. Additionally, due to the restatement related to changes in the Company’s accounting
practices for leasing transactions, a reconciliation has been provided to illustrate the effect of this change. See Note 2
of the Consolidated Financial Statements for additional information regarding the restatement.
All per share amounts below have been restated to reflect the two-for-one stock split which was distributed on
March 7, 2005. Additionally, the sum of the quarterly EPS amounts may not equal the full year amount as the
computations of the weighted average shares outstanding for each quarter and the full year are calculated
independently.
(In thousands, except per share amounts)
As Previously
Reported
May 3, 2003
Restatement Due to
Change in Lease
Accounting Practices
As Restated
May 3, 2003
Net sales $276,069 $ - $276,069
Gross profit 105,025 2,505 107,530
Income from continuing operations, net of tax 9,894 56 9,950
Loss from discontinued operations, net of
income tax benefit (3,491) - (3,491)
Net income 6,403 56 6,459
Basic per common share amounts:
Income from continuing operations 0.07 - 0.07
Loss from discontinued operations (0.02) - (0.02)
Net income per basic share 0.05 - 0.05
Diluted per common share amounts:
Income from continuing operations 0.07 - 0.07
Loss from discontinued operations (0.02) - (0.02)
Net income per diluted share 0.05 - 0.05