Columbia Sportswear 2004 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,
2004 2003 2002
Net sales ..................................................... $1,095,307 $951,786 $816,319
Cost of sales .................................................. 597,373 511,101 437,782
Grossprofit ................................................... 497,934 440,685 378,537
Selling, general, and administrative expense ......................... 290,538 252,307 216,085
Net licensing income ............................................ (4,032) (1,811) (1,223)
Income from operations ......................................... 211,428 190,189 163,675
Interest income ................................................ (4,052) (2,107) (2,790)
Interest expense ................................................ 559 1,627 2,436
Incomebeforeincometax ........................................ 214,921 190,669 164,029
Incometaxexpense(Note10)..................................... 76,297 70,548 61,511
Netincome ................................................... $ 138,624 $120,121 $102,518
Earnings per share:
Basic .................................................... $ 3.44 $ 3.01 $ 2.60
Diluted................................................... 3.40 2.96 2.56
Weighted average shares outstanding (Note 14):
Basic .................................................... 40,266 39,953 39,449
Diluted................................................... 40,812 40,591 40,063
See accompanying notes to consolidated financial statements.
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