CarMax 1999 Annual Report Download - page 52
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Years Ended February 28
(Amounts in thousands except per share data)
1999 % 1998 % 1997 %
NET SALES AND OPERATING REVENUES .................................
$9,338,149
100.0 $7,996,591 100.0 $7,153,562 100.0
Cost of sales, buying and warehousing.............................................
7,065,396
75.7 6,026,434 75.4 5,435,923 76.0
GROSS PROFIT ..............................................................................
2,272,753
24.3 1,970,157 24.6 1,717,639 24.0
Selling, general and administrative
expenses [NOTES 3AND 11]...............................................................
1,981,755
21.2 1,720,737 21.5 1,458,183 20.4
Interest expense [NOTES 3AND 5]..........................................................
21,926
0.2 25,072 0.3 23,503 0.3
TOTAL EXPENSES..........................................................................
2,003,681
21.4 1,745,809 21.8 1,481,686 20.7
Earnings before income taxes and Inter-Group
Interest in the CarMax Group.....................................................
269,072
2.9 224,348 2.8 235,953 3.3
Provision for income taxes [NOTES 3AND 6] .........................................
102,634
1.1 85,814 1.1 90,221 1.3
EARNINGS BEFORE INTER-GROUP INTEREST
IN THE CARMAX GROUP........................................................
166,438
1.8 138,534 1.7 145,732 2.0
Net loss related to Inter-Group Interest in the
CarMax Group [NOTES 1AND 2]......................................................
18,057
0.2 26,460 0.3 9,052 0.1
NET EARNINGS .............................................................................
$ 148,381
1.6 $ 112,074 1.4 $ 136,680 1.9
Weighted average common shares [NOTES 2AND 8]:
Basic............................................................................................
99,152
98,027 97,311
Diluted........................................................................................
100,406
99,204 98,472
NET EARNINGS PER SHARE [NOTES 2 AND 8]:
Basic............................................................................................
$ 1.50
$1.14 $ 1.40
Diluted........................................................................................
$1.48
$1.13 $ 1.39
See accompanying notes to group financial statements.
CIRCUIT CITY GROUP STATEMENTS OF EARNINGS
50 CIRCUIT CITY STORES, INC. 1999 ANNUAL REPORT