CarMax 2001 Annual Report Download - page 75

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CarMax Group Statements of Operations
72
CIRCUIT CITY STORES, INC. 2001 ANNUAL REPORT
Years Ended February 28 or 29
(Amounts in thousands) 2001 % 2000 % 1999 %
NET SALES AND OPERATING REVENUES......................................... $2,500,991 100.0 $2,014,984 100.0 $1,466,298 100.0
Cost of sales ................................................................................ 2,171,232 86.8 1,774,619 88.1 1,294,032 88.3
GROSS PROFIT............................................................................... 329,759 13.2 240,365 11.9 172,266 11.7
Selling, general and administrative
expenses [NOTES 1 and 10] ........................................................... 244,167 9.8 228,200 11.3 204,422 13.9
Interest expense [NOTES 1 AND 5] .................................................... 12,110 0.5 10,362 0.5 6,393 0.4
TOTAL EXPENSES............................................................................ 256,277 10.3 238,562 11.8 210,815 14.3
Earnings (loss) before income taxes ........................................ 73,482 2.9 1,803 0.1 (38,549) (2.6)
Income tax provision (benefit) [NOTES 1 AND 6] ............................ 27,918 1.1 685 0.0 (15,035) (1.0)
NET EARNINGS (LOSS).................................................................... $ 45,564 1.8 $ 1,118 0.1 $ (23,514) (1.6)
Net earnings (loss) attributed to [NOTE 1]:
Circuit City Group Common Stock..................................... $ 34,009 $ 862 $ (18,057)
CarMax Group Common Stock ........................................... 11,555 256 (5,457)
$ 45,564 $ 1,118 $ (23,514)
See accompanying notes to Group financial statements.