American Eagle Outfitters 2006 Annual Report Download - page 31

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AMERICAN EAGLE OUTFITTERS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended
(In thousands, except per shareamounts)
February 3,
2007
January 28,
2006
January 29,
2005
Net sales $2,794,409 $2,321,962 $1,889,647
Cost of sales, including certain buying, occupancy and warehousing
expenses (exclusive of depreciation shown separately below) 1,453,980 1,244,213 1,008,459
Gross profit 1,340,429 1,077,749 881,188
Selling, general and administrative expenses 665,606 540,332 450,777
Depreciation andamortization expense 88,033 78,728 69,443
Operating income 586,790 458,689 360,968
Other income, net 42,277 18,278 5,867
Income before income taxes 629,067 476,967 366,835
Provision for income taxes241,708 183,256 142,603
Income from continuing operations 387,359 293,711 224,232
Income (loss) from discontinued operations, net of tax -442 (10,889)
Net income $387,359 $ 294,153 $213,343
Basic income percommon share:
Income from continuing operations $1.74 $ 1.29 $ 1.03
Loss from discontinued operations --(0.05)
Net income per basic share $ 1.74 $ 1.29 $ 0.98
Diluted income per common share:
Income from continuing operations $1.70 $ 1.26 $ 1.00
Loss from discontinued operations --(0.05)
Net income per diluted share $ 1.70 $ 1.26 $ 0.95
Weighted average common shares outstanding—basic 222,662 227,406 217,725
Weighted average common shares outstanding—diluted 228,384 233,031 225,366
See Notes to Consolidated Financial Statements
PAGE 32 ANNUAL REPORT 2006
AMERICAN EAGLE OUTFITTERS, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
For the Years Ended
(In thousands)
February 3,
2007
January 28,
2006
January 29,
2005
Net income $387,359 $294,153 $213,343
Other comprehensive income:
Unrealized loss on investments, net of tax (191) (642) (227)
Reclassificationadjustmentforlosses (gain) realized in net income due to
the sale of available-for-sale securities, net of tax 356 99 (4)
Reclassificationadjustmentforgain realized in net income related to the
transfer of investment securities from available-for-sale classification to
trading classification, net of tax (177) --
Foreign currency translation adjustment (1,180) 8,823 7,315
Reclassificationadjustmentforloss realized in net income related to the
disposition of National Logistics Services 878 --
Reclassificationadjustmentforloss realized in net income related to the
sale of Bluenotes --2,467
Unrealized derivative gains on cash flow hedge, net of tax --71
Reclassificationadjustmentforlosses realized in net income related to
termination of the cash flow hedge, net of tax --437
Other comprehensive income (314) 8,280 10,059
Comprehensive income $387,045 $302,433 $223,402
See Notes to Consolidated Financial Statements
AMERICAN EAGLE OUTFITTERS PAGE 33