American Eagle Outfitters 2008 Annual Report Download - page 39

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AMERICAN EAGLE OUTFITTERS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
January 31,
2009
February 2,
2008
February 3,
2007
For the Years Ended
(In thousands, except per share amounts)
Net sales ............................................ $2,988,866 $3,055,419 $2,794,409
Cost of sales, including certain buying, occupancy and warehousing
expenses ........................................... 1,814,765 1,632,281 1,453,980
Gross profit .......................................... 1,174,101 1,423,138 1,340,429
Selling, general and administrative expenses .................. 740,742 715,180 665,606
Depreciation and amortization expense ...................... 131,219 109,203 88,033
Operating income ...................................... 302,140 598,755 586,790
Other income, net ...................................... 17,790 37,626 42,277
Other-than-temporary impairment charge ..................... 22,889 — —
Income before income taxes .............................. 297,041 636,381 629,067
Provision for income taxes ............................... 117,980 236,362 241,708
Net income .......................................... $ 179,061 $ 400,019 $ 387,359
Basic income per common share ........................... $ 0.87 $ 1.85 $ 1.74
Diluted income per common share ......................... $ 0.86 $ 1.82 $ 1.70
Weighted average common shares outstanding — basic .......... 205,169 216,119 222,662
Weighted average common shares outstanding — diluted ......... 207,582 220,280 228,384
Refer to Notes to Consolidated Financial Statements
37