American Eagle Outfitters 2004 Annual Report Download - page 73

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59
Part II
(In thousands, except per share amounts)
As Previously
Reported
January 29, 2005
Restatement Due to
Change in Lease
Accounting Practices
As Restated
January 29, 2005
Net sales $674,024 $ - $674,024
Gross profit 330,281 2,096 332,377
Income from continuing operations, net of tax 107,238 (294) 106,944
Loss from discontinued operations, net of
income tax benefit (6,027) - (6,027)
Net income 101,211 (294) 100,917
Basic per common share amounts:
Income from continuing operations 0.73 - 0.73
Loss from discontinued operations (0.04) - (0.04)
Net income per basic share 0.69 - 0.69
Diluted per common share amounts:
Income from continuing operations 0.70 - 0.70
Loss from discontinued operations (0.04) - (0.04)
Net income per diluted share 0.66 - 0.66
16. Subsequent Event
On February 4, 2005, the Company’s Board of Directors approved a two-for-one stock split that was distributed on
March 7, 2005, to shareholders of record on February 14, 2005. All share amounts and per share data have been
restated to reflect this stock split.
On March 8, 2005, the Company’s Board of Directors voted to raise its cash dividend payment by 67% to an annual
rate of $0.20 per share, from $0.12 per share. A quarterly cash dividend of $0.05 per share was paid on April 8,
2005 to stockholders of record on March 25, 2005.