CarMax 2000 Annual Report Download - page 70

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CARMAX GROUP STATEMENTS OF OPERATIONS
CIRCUIT CITY STORES, INC. 2000 ANNUAL REPORT
68
Years Ended February 29 or 28
(Amounts in thousands except per share data) 2000 % 1999 % 1998 %
NET SALES AND OPERATING REVENUES.......................... $2,014,984 100.0 $1,466,298 100.0 $874,206 100.0
Cost of sales.................................................................................................... 1,774,619 88.1 1,294,032 88.3 800,699 91.6
GROSS PROFIT...................................................................................... 240,365 11.9 172,266 11.7 73,507 8.4
Selling, general and administrative expenses [NOTES 3 AND 13]....................... 228,200 11.3 204,422 13.9 127,822 14.6
Interest expense [NOTES 3 AND 7] ..................................................................... 10,362 0.5 6,393 0.4 1,789 0.2
T O T AL EXPENSES............................................................................... 238,562 11.8 210,815 14.3 129,611 14.8
Earnings (loss) before income taxes.............................................................. 1,803 0.1 (38,549) (2.6) (56,104) (6.4)
Income tax provision (benefit) [NOTES 3 AND 8] .............................................. 685 0.0 (15,035) (1.0) (21,881) (2.5)
NET EARNINGS (LOSS).................................................................. $ 1,118 0.1 $ (23,514) (1.6) $(34,223) (3.9)
Net earnings (loss) attributed to [NOTE 1]:
Circuit City Group common stock............................................................ $ 862 $ (18,057) $(26,460)
CarMax Group common stock.................................................................. 256 (5,457) (7,763)
$ 1,118 $ (23,514) $(34,223)
Weighted average common shares [NOTES 2 AND 10]:
Basic ......................................................................................................... 23,778 22,604 22,001
Diluted...................................................................................................... 25,788 22,604 22,001
NET EARNINGS (LOSS) PER SHARE [NOTES 2 AND 10]:
Basic......................................................................................................... $ 0.01 $ (0.24) $ (0.35)
Diluted...................................................................................................... $ 0.01 $ (0.24) $ (0.35)
See accompanying notes to group financial statements.