Columbia Sportswear 2009 Annual Report Download - page 48

Download and view the complete annual report

Please find page 48 of the 2009 Columbia Sportswear annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 85

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85

COLUMBIA SPORTSWEAR COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Year Ended December 31,
2009 2008 2007
Net sales .................................................. $1,244,023 $1,317,835 $1,356,039
Cost of sales ............................................... 719,945 750,024 776,288
Gross profit ................................................ 524,078 567,811 579,751
Selling, general, and administrative expenses ...................... 444,715 430,350 385,769
Impairment of acquired intangible assets (Note 2) .................. — 24,742 —
Net licensing income ......................................... 8,399 5,987 5,157
Income from operations ...................................... 87,762 118,706 199,139
Interest income, net .......................................... 2,088 7,537 8,888
Income before income tax ..................................... 89,850 126,243 208,027
Income tax expense (Note 9) ................................... (22,829) (31,196) (63,575)
Net income ................................................ $ 67,021 $ 95,047 $ 144,452
Earnings per share:
Basic ................................................. $ 1.98 $ 2.75 $ 4.00
Diluted ................................................ 1.97 2.74 3.96
Cash dividends per share: ..................................... $ 0.66 $ 0.64 $ 0.58
Weighted average shares outstanding (Note 13):
Basic ................................................. 33,846 34,610 36,106
Diluted ................................................ 33,981 34,711 36,434
See accompanying notes to consolidated financial statements.
41