Columbia Sportswear 2011 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,
2011 2010 2009
Net sales .................................................. $1,693,985 $1,483,524 $1,244,023
Cost of sales ............................................... 958,677 854,120 719,945
Gross profit ................................................ 735,308 629,404 524,078
Selling, general, and administrative expenses ...................... 614,658 534,068 444,715
Net licensing income ......................................... 15,756 7,991 8,399
Income from operations ...................................... 136,406 103,327 87,762
Interest income, net .......................................... 1,274 1,564 2,088
Income before income tax ..................................... 137,680 104,891 89,850
Income tax expense (Note 10) .................................. (34,201) (27,854) (22,829)
Net income ................................................ $ 103,479 $ 77,037 $ 67,021
Earnings per share (Note 16):
Basic ................................................. $ 3.06 $ 2.28 $ 1.98
Diluted ................................................ 3.03 2.26 1.97
Cash dividends per share: ..................................... $ 0.86 $ 2.24 $ 0.66
Weighted average shares outstanding (Note 16):
Basic ................................................. 33,808 33,725 33,846
Diluted ................................................ 34,204 34,092 33,981
See accompanying notes to consolidated financial statements
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