DSW 2009 Annual Report Download - page 67

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The Company is no longer subject to U.S federal income tax examination for years prior to 2007. With a few
exceptions, the Company is no longer subject to state tax examination for fiscal years prior to 2006. The Company is
currently under examination by the Internal Revenue Service for fiscal 2008 and 2007. The Company estimates the
range of possible changes that may result from any current and future tax examinations to be insignificant at this time.
13. QUARTERLY FINANCIAL DATA (UNAUDITED)
May 2,
2009
August 1,
2009
October 31,
2009
January 30,
2010
Thirteen Weeks Ended
(In thousands, except per share data)
Net sales ............................. $385,846 $ 369,490 $ 444,621 $ 402,648
Cost of sales .......................... (280,865) (271,702) (297,462) (285,084)
Operating expenses ..................... (92,878) (86,427) (102,438) (92,294)
Operating profit .................... 12,103 11,361 44,721 25,270
Interest expense ........................ (183) (188) (176) (867)
Interest income ........................ 437 766 621 393
Interest income (expense), net .......... 254 578 445 (474)
Non-operating (expense) income, net ........ (395) 528 (754) (1,746)
Earnings before income taxes .............. 11,962 12,467 44,412 23,050
Income tax provision .................... (4,817) (4,900) (17,781) (9,652)
Net income ........................ $ 7,145 $ 7,567 $ 26,631 $ 13,398
Earnings per share:(1)
Basic and Diluted ..................... $ 0.16 $ 0.17 $ 0.60 $ 0.30
May 3,
2008
August 2,
2008
November 1,
2008
January 31,
2009
Thirteen Weeks Ended
(In thousands, except per share data)
Net sales............................. $366,264 $ 357,175 $ 391,355 $ 348,150
Cost of sales .......................... (269,217) (256,081) (282,280) (276,267)
Operating expenses ..................... (81,041) (83,415) (88,158) (83,672)
Operating profit (loss) ............... 16,006 17,679 20,917 (11,789)
Interest expense . ...................... (274) (304) (270) 54
Interest income . . ...................... 997 724 956 723
Interest income, net ................. 723 420 686 777
Non-operating expense, net ............... (1,134)
Earnings (loss) before income taxes ......... 16,729 18,099 21,603 (12,146)
Income tax (provision) benefit ............. (6,441) (7,142) (8,425) 4,625
Net income (loss) .................. $ 10,288 $ 10,957 $ 13,178 $ (7,521)
Earnings (loss) per share:(1)
Basic and Diluted .................... $ 0.23 $ 0.25 $ 0.30 $ (0.17)
(1) The earnings per share calculations for each quarter are based upon the applicable weighted average shares
outstanding for each period and may not necessarily be equal to the full year share amount.
F-23
DSW INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)