Columbia Sportswear 2004 Annual Report Download - page 61

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SUPPLEMENTAL INFORMATION—QUARTERLY FINANCIAL DATA (Unaudited)
The following table summarizes the Company’s quarterly financial data for the past two years ended
December 31, 2004 (in thousands, except per share amounts):
2004
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Net sales ............................................. $206,670 $171,102 $415,759 $301,776
Grossprofit ........................................... 93,883 73,231 196,388 134,432
Netincome ........................................... 19,962 10,732 68,573 39,357
Earnings per share
Basic ............................................ $ 0.50 $ 0.27 $ 1.70 $ 0.98
Diluted........................................... 0.49 0.26 1.68 0.97
2003
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Net sales ............................................. $168,871 $152,077 $373,409 $257,429
Grossprofit ........................................... 76,744 64,719 178,817 120,405
Netincome ........................................... 14,919 9,443 63,572 32,187
Earnings per share
Basic ............................................ $ 0.38 $ 0.24 $ 1.59 $ 0.80
Diluted........................................... 0.37 0.23 1.56 0.79
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
Item 9(a). CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
Our management has evaluated, under the supervision and with the participation of our chief executive officer
and chief financial officer, the effectiveness of our disclosure controls and procedures as of the end of the period
covered by this report pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (the “Exchange Act”).
Based on that evaluation, our chief executive officer and chief financial officer have concluded that, as of the end of
the period covered by this report, our disclosure controls and procedures are effective in ensuring that information
required to be disclosed in our Exchange Act reports is (1) recorded, processed, summarized and reported in a
timely manner, and (2) accumulated and communicated to our management, including our chief executive officer
and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.
Design and Evaluation of Internal Control Over Financial Reporting
Report of Management
Our management is responsible for establishing and maintaining adequate internal control over financial
reporting. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even
those systems determined to be effective can provide only reasonable assurance with respect to financial statement
preparation and presentation.
Under the supervision and with the participation of our management, we assessed the effectiveness of our
internal control over financial reporting as of December 31, 2004. In making this assessment, we used the criteria
set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal
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