CarMax 2003 Annual Report Download - page 30
Download and view the complete annual report
Please find page 30 of the 2003 CarMax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20 -
21 -
22 -
23 -
24 -
25 -
26 -
27 -
28 -
29 -
30 -
31 -
32 -
33 -
34 -
35 -
36 -
37 -
38 -
39 -
40 -
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
 |
 |
28 CARMAX 2003
Years Ended February 28
(Amounts in thousands except per share data) 2003 %(1) 2002 %(1) 2001 %(1)
SALES AND OPERATING REVENUES:
Used vehicle sales $2,912,082 73.4 $2,497,150 70.7 $1,928,391 69.9
New vehicle sales 519,835 13.1 559,943 15.8 456,909 16.6
Wholesale vehicle sales 366,589 9.2 325,552 9.2 253,487 9.2
Other sales and revenues 171,438 4.3 151,114 4.3 119,725 4.3
NET SALES AND OPERATING REVENUES 3,969,944 100.0 3,533,759 100.0 2,758,512 100.0
Cost of sales 3,501,705 88.2 3,114,366 88.1 2,417,291 87.6
GROSS PROFIT 468,239 11.8 419,393 11.9 341,221 12.4
CARMAX AUTO FINANCE INCOME (NOTES 11 and 12) 82,399 2.1 66,473 1.9 42,738 1.5
Selling, general and administrative expenses (NOTE 10) 392,417 9.9 334,464 9.5 298,782 10.8
Interest expense(NOTE 4) 2,261 0.1 4,958 0.1 12,110 0.4
Interest income 737 — 12 — 415 —
Earnings before income taxes 156,697 3.9 146,456 4.1 73,482 2.7
Provision for income taxes(NOTE 5) 61,895 1.6 55,654 1.6 27,918 1.0
NET EARNINGS $ 94,802 2.4 $ 90,802 2.6 $ 45,564 1.7
Weighted average common shares (NOTE 7):
Basic 102,983 102,039 100,994
Diluted 104,570 104,022 102,420
NET EARNINGS PER SHARE (NOTE 7):
Basic $ 0.92 $ 0.89 $ 0.45
Diluted $ 0.91 $ 0.87 $ 0.44
(1) Percents of net sales and operating revenues may not total due to rounding.
CONSOLIDATED STATEMENTS OF EARNINGS
See accompanying notes to consolidated financial statements.