Circuit City 1998 Annual Report Download - page 12

The Company has not paid any dividends since its initial public offering and anticipates that all of its income in the foreseeable future will be
retained for the development and expansion of its business, and therefore does not anticipate paying dividends on its Common Stock in the
foreseeable future. See "Certain Relationships and Related Transactions" for a description of the Company's historical distributions.
ITEM 6. SELECTED FINANCIAL DATA.
The following selected financial information is qualified by reference to, and should be read in conjunction with, the Company's Consolidated
Financial Statements and the notes thereto, and "Management's Discussion and Analysis of Financial Condition and Results of Operations"
contained elsewhere in this report. The selected income statement data for the years ended December 31, 1998, 1997 and 1996 and the selected
balance sheet data as of December 31, 1998 and 1997 is derived from the audited consolidated financial statements which are included
elsewhere herein. The selected balance sheet data as of December 31, 1996 and 1995 is derived from the audited financial statements of the
Company which are not included herein. The selected balance sheet data as of December 31, 1994 and the selected income statement data for
the years ended December 31, 1995 and 1994 are derived from the audited financial statements of interrelated predecessor companies of Global
which are not included herein.
INCOME STATEMENT DATA:
(IN MILLIONS, EXCEPT PER COMMON SHARE DATA, NUMBER OF CATALOG TITLES AND NUMBER OF COUNTRIES)
1998 1997 1996 1995 1994
--------- --------- -------- -------- --------
Net sales ............................................. $1,435.7 $1,145.4 $911.9 $634.5 $484.2
Gross profit .......................................... $288.6 $265.6 $249.6 $197.3 $149.1
Selling, general and
administrative expenses ............................ $224.2 $206.3 $180.1 $143.2 $129.5
Income from operations ................................ $64.3 $59.3 $69.5 $54.1 $36.2
Income taxes .......................................... $25.8 $23.3 $27.7 $21.0(2) $14.0(2)
Net income ............................................ $41.3 $38.8 $43.7 $33.1(2) $21.9(2)
Net income per common share:
Basic ............................................. $1.11 $1.02 $1.16 $.93(2) $.65(2)
Diluted ........................................... $1.11 $1.02 $1.15 $.93(2) $.65(2)
Weighted average common shares outstanding:
Basic ............................................. 37.3 38.0 37.6 35.5(2) 33.8(2)
Diluted ........................................... 37.3 38.2 38.1 35.5(2) 33.8(2)
SELECTED OPERATING DATA:
Active customers (1) .................................. 1.8 1.8 1.7 1.7 1.1
Orders entered ........................................ 3.8 3.5 3.4 2.5 2.2
Number of catalogs distributed ........................ 179 162 160 122 114
Number of catalog titles .............................. 44 41 40 32 24
Number of countries receiving catalogs ................ 14 13 12 10 7
BALANCE SHEET DATA (AT DECEMBER 31, IN MILLIONS):
Working capital ....................................... $194.6 $187.8 $194.4 $122.2 $74.2
Total assets .......................................... $454.4 $399.7 $331.4 $247.5 $164.2
Short-term debt ....................................... $.5 $5.4 $19.2
Long-term debt, excluding
current portion ..................................... $2.5 $2.0 $2.0 $2.9 $11.5
Stockholders' equity .................................. $286.6 $272.2 $228.6 $154.0 $69.1
(1) An "active customer" is defined as a customer who has purchased from the Company within the preceding 12 months.
(2) Amount is calculated on a pro forma basis.