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41
SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Year Ended December 31,
2008 2007 2006
Net sales $ 3,032,961 $ 2,779,875 $ 2,345,165
Cost of sales 2,568,816 2,353,574 2,002,246
Gross profit 464,145 426,301 342,919
Selling, general and administrative expenses 380,778 332,359 282,189
Operating income 83,367 93,942 60,730
Foreign currency exchange loss (gain) 1,300 (1,562) (1,174)
Interest and other income, net (1,981) (5,505) (9,475)
Interest expense 305 986 1,684
Income before income taxes 83,743 100,023 69,695
Provision for income taxes 30,900 30,542 24,548
Net income $ 52,843 $ 69,481 $ 45,147
Net income per common share:
Basic $1.45 $1.93 $1.29
Diluted $1.41 $1.84 $1.22
Weighted average common and common equivalent shares:
Basic 36,450 35,968 34,960
Diluted 37,411 37,688 36,881
See notes to consolidated financial statements.