Columbia Sportswear 2003 Annual Report Download - page 40

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COLUMBIA SPORTSWEAR COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Year Ended December 31,
2003 2002 2001
Net sales ....................................................... $951,786 $816,319 $779,581
Cost of sales .................................................... 511,101 437,782 422,430
Grossprofit..................................................... 440,685 378,537 357,151
Selling, general, and administrative .................................. 252,307 216,085 209,503
Net licensing income ............................................. (1,811) (1,223) (533)
Income from operations ........................................... 190,189 163,675 148,181
Interest income .................................................. (2,107) (2,790) (1,712)
Interest expense ................................................. 1,627 2,436 4,280
Incomebeforeincometax ......................................... 190,669 164,029 145,613
Incometaxexpense(Note10) ...................................... 70,548 61,511 56,789
Netincome ..................................................... $120,121 $102,518 $ 88,824
Earnings per share:
Basic ...................................................... $ 3.01 $ 2.60 $ 2.27
Diluted .................................................... 2.96 2.56 2.23
Weighted average shares outstanding (Note 14):
Basic ...................................................... 39,953 39,449 39,051
Diluted .................................................... 40,591 40,063 39,840
See accompanying notes to consolidated financial statements.
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