CarMax 1999 Annual Report Download - page 70

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Years Ended February 28
(Amounts in thousands except per share data)
1999 % 1998 % 1997 %
NET SALES AND OPERATING REVENUES ......................................
$1,466,298
100.0 $874,206 100.0 $510,249 100.0
Cost of sales ..........................................................................................
1,294,032
88.3 800,699 91.6 466,788 91.5
GROSS PROFIT ...................................................................................
172,266
11.7 73,507 8.4 43,461 8.5
Selling, general and administrative expenses
[including $11.5 million expense related to owned
and leased real estate in fiscal 1998. NOTES 3AND 13]............................
204,422
13.9 127,822 14.6 53,111 10.4
Interest expense [NOTES 3AND 7]...............................................................
6,393
0.4 1,789 0.2 6,279 1.2
TOTAL EXPENSES...............................................................................
210,815
14.3 129,611 14.8 59,390 11.6
Loss before income tax benefit ..............................................................
38,549
2.6 56,104 6.4 15,929 3.1
Income tax benefit [NOTES 3AND 8]...........................................................
15,035
1.0 21,881 2.5 6,611 1.3
NET LOSS.............................................................................................
$ 23,514
1.6 $ 34,223 3.9 $ 9,318 1.8
Net loss attributed to [NOTE 1]:
Circuit City Group common stock ..................................................
$ 18,057
$26,460 $ 9,052
CarMax Group common stock.........................................................
5,457
7,763 266
$23,514
$34,223 $ 9,318
Weighted average common shares [NOTES 2AND 10].................................
22,604
22,001 21,860
NET LOSS PER SHARE [NOTES 2 AND 10]....................................
$0.24
$0.35 $ 0.01
See accompanying notes to group financial statements.
CARMAX GROUP STATEMENTS OF OPERATIONS
68 CIRCUIT CITY STORES, INC. 1999 ANNUAL REPORT