Columbia Sportswear 2010 Annual Report Download - page 50

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COLUMBIA SPORTSWEAR COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Year Ended December 31,
2010 2009 2008
Net sales .................................................. $1,483,524 $1,244,023 $1,317,835
Cost of sales ............................................... 854,120 719,945 750,024
Gross profit ................................................ 629,404 524,078 567,811
Selling, general, and administrative expenses ...................... 534,068 444,715 430,350
Impairment of acquired intangible assets (Note 7) .................. — — 24,742
Net licensing income ......................................... 7,991 8,399 5,987
Income from operations ...................................... 103,327 87,762 118,706
Interest income, net .......................................... 1,564 2,088 7,537
Income before income tax ..................................... 104,891 89,850 126,243
Income tax expense (Note 10) .................................. (27,854) (22,829) (31,196)
Net income ................................................ $ 77,037 $ 67,021 $ 95,047
Earnings per share (Note 16):
Basic ................................................. $ 2.28 $ 1.98 $ 2.75
Diluted ................................................ 2.26 1.97 2.74
Cash dividends per share: ..................................... $ 2.24 $ 0.66 $ 0.64
Weighted average shares outstanding (Note 16):
Basic ................................................. 33,725 33,846 34,610
Diluted ................................................ 34,092 33,981 34,711
See accompanying notes to consolidated financial statements.
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