Columbia Sportswear 2003 Annual Report Download - page 20

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Item 6. SELECTED FINANCIAL DATA
Selected Consolidated Financial Data
The selected consolidated financial data presented below for, and as of the end of, each of the years in the
five-year period ended December 31, 2003 have been derived from our audited consolidated financial statements.
The consolidated financial data should be read in conjunction with the Consolidated Financial Statements and
Accompanying Notes that appear elsewhere in this annual report and Management’s Discussion and Analysis of
Financial Condition and Results of Operations set forth in Item 7.
Year ended December 31,
2003 2002 2001 2000 1999
(In thousands, except per share amounts)
Statement of Operations Data:
Net sales .................................... $951,786 $816,319 $779,581 $614,825 $470,503
Cost of sales ................................. 511,101 437,782 422,430 334,689 259,609
Grossprofit.................................. 440,685 378,537 357,151 280,136 210,894
Selling, general and administrative ............... 252,307 216,085 209,503 183,755 150,829
Net licensing income .......................... (1,811) (1,223) (533) (12) —
Income from operations ........................ 190,189 163,675 148,181 96,393 60,065
Interest (income) expense, net ................... (480) (354) 2,568 4,238 4,822
Incometaxexpense ........................... 70,548 61,511 56,789 33,544 22,235
Netincome .................................. $120,121 $102,518 $ 88,824 $ 58,611 $ 33,008
Earnings per share (1):
Basic ................................... $ 3.01 $ 2.60 $ 2.27 $ 1.52 $ 0.87
Diluted ................................. 2.96 2.56 2.23 1.48 0.86
Weighted average shares outstanding (1):
Basic ................................... 39,953 39,449 39,051 38,541 37,997
Diluted ................................. 40,591 40,063 39,840 39,608 38,412
2003 2002 2001 2000 1999
Balance Sheet Data:
Working capital .............................. $502,001 $361,628 $270,959 $191,612 $144,105
Inventories .................................. 126,808 94,862 114,889 105,288 86,465
Total assets .................................. 783,766 592,817 474,967 375,086 304,990
Long-term debt, net of current maturities .......... 16,335 20,636 25,047 26,000 26,665
Shareholders’ equity ........................... 640,829 472,719 353,389 248,989 184,375
(1) Earnings per share and weighted average shares outstanding have been restated to reflect the three-for-two
stock split that was effective June 4, 2001.
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