Costco 2004 Annual Report Download - page 51

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Note 10—Quarterly Financial Data (Unaudited) (Continued)
52 Weeks Ended August 31, 2003
First
Quarter
12 Weeks
Second
Quarter
12 Weeks
Third
Quarter
12 Weeks
Fourth
Quarter
16 Weeks
Total
52 Weeks
REVENUE
Net sales ....................... $9,010,571 $ 9,920,324 $9,344,959 $13,416,845 $41,692,699
Membership fees ................. 188,014 193,843 198,112 272,884 852,853
Totalrevenue.................. 9,198,585 10,114,167 9,543,071 13,689,729 42,545,552
OPERATING EXPENSES
Merchandise costs ................ 8,048,897 8,840,411 8,358,323 11,987,752 37,235,383
Selling, general and
administrative ................. 888,779 967,051 923,309 1,318,259 4,097,398
Preopeningexpenses .............. 18,117 7,145 5,853 5,528 36,643
Provision for impaired assets and
closing costs, net ............... 5,000 4,500 6,000 4,000 19,500
Operating income .............. 237,792 295,060 249,586 374,190 1,156,628
OTHER INCOME (EXPENSE)
Interest expense .................. (8,468) (8,003) (8,715) (11,734) (36,920)
Interest income and other .......... 7,634 8,983 9,179 12,729 38,525
INCOME BEFORE INCOME
TAXES ........................ 236,958 296,040 250,050 375,185 1,158,233
Provision for income taxes ......... 91,229 113,975 96,270 135,759 437,233
NET INCOME .................... $ 145,729 $ 182,065 $ 153,780 $ 239,426 $ 721,000
NET INCOME PER COMMON
SHARE:
Basic .......................... $ .32 $ .40 $ .34 $ .52 $ 1.58
Diluted......................... $ .31 $ .39 $ .33 $ .51 $ 1.53
Shares used in calculation (000’s)
Basic .......................... 455,570 455,927 456,370 457,187 456,335
Diluted......................... 478,857 478,564 479,183 480,384 479,326
Dividendspershare................. $ — $ — $ — $ — $ —
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