DSW 2009 Annual Report Download - page 47

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DSW INC.
CONSOLIDATED STATEMENTS OF INCOME
YEARS ENDED JANUARY 30, 2010, JANUARY 31, 2009 AND FEBRUARY 2, 2008
January 30,
2010
January 31,
2009
February 2,
2008
(In thousands, except per share amounts)
Net sales .......................................... $1,602,605 $ 1,462,944 $ 1,405,615
Cost of sales ........................................ (1,135,113) (1,083,845) (1,035,480)
Operating expenses . .................................. (374,037) (336,286) (288,814)
Operating profit . . . .................................. 93,455 42,813 81,321
Interest expense . . . .................................. (1,414) (794) (1,178)
Interest income ...................................... 2,217 3,400 7,148
Interest income, net ................................. 803 2,606 5,970
Non-operating expense, net ............................. (2,367) (1,134)
Earnings before income taxes ........................... 91,891 44,285 87,291
Income tax provision ................................. (37,150) (17,383) (33,516)
Net income ......................................... $ 54,741 $ 26,902 $ 53,775
Basic and diluted earnings per share:
Basic ........................................... $ 1.24 $ 0.61 $ 1.22
Diluted .......................................... $ 1.23 $ 0.61 $ 1.21
Shares used in per share calculations:
Basic ........................................... 44,093 43,998 43,953
Diluted .......................................... 44,517 44,218 44,273
The accompanying Notes are an integral part of the Consolidated Financial Statements.
F-3