Dick's Sporting Goods 2008 Annual Report Download - page 2

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SALES
(DOLLARS IN MILLIONS)
20082007200620052004
$4,130$3,888$3,114$2,625$2,109
NET INCOME1
(DOLLARS IN MILLIONS)
2007200620052004
$155.0$112.6$94.5$74.5
2008
$138.9
2007200620052004
6.9%6.3%6.5%6.2%
2008
5.8%
OPERATING MARGINS2
(PERCENTAGE)
GROSS PROFIT MARGINS
(PERCENTAGE)
20082007200620052004
28.7%29.8%28.8%28.1%27.8%
FINANCIAL HIGHLIGHTS
Fiscal Year 2008 2007 2006
(Dollars in thousands, except per share data)
Net sales $ 4,130,128 $ 3,888,422 $ 3,114,162
Gross profi t 1,184,049 1,158,063 896,699
Gross profi t margin 28.7% 29.8% 28.8%
Selling, general and administrative expenses 928,170 870,415 682,625
Pre-opening expenses 16,272 18,831 16,364
Merger and integration costs 15,877 — —
Impairment of goodwill and other intangible assets 164,255 — —
Impairment of store assets 29,095 — —
Income from operations 30,380 268,817 197,710
Net income (loss) (35,094) 155,036 112,611
Adjusted net income2 $ 138,909 $ 155,036 $ 112,611
Diluted earnings (loss) per common share $ (0.31) $ 1.33 $ 1.02
Adjusted diluted earnings per common share2 $ 1.19 $ 1.33 $ 1.02
Diluted weighted average shares outstanding (in thousands) 111,662 116,504 110,790
Adjusted diluted weighted average shares outstanding (in thousands) 116,650 116,504 110,790
Total stockholders’ equity $ 895,582 $ 888,520 $ 620,550
EBITDA $ 123,468 $ 343,869 $ 252,639
Adjusted EBITDA3 $ 327,947 $ 343,869 $ 252,639
Comparable store net sales increase (decrease) (Dick’s stores) (4.8%) 2.4% 6.0%
Store count (Dick’s stores) 384 340 294
Diluted earnings applicable to common stockholders and diluted weighted average shares outstanding are adjusted for the two-for-one stock split, in
the form of a stock dividend, which became effective October 19, 2007.
1 Results exclude goodwill, other intangible and store asset impairment charges, merger and integration costs, and gain on sale of investment.
2 Results exclude goodwill, other intangible and store asset impairment charges and merger and integration costs.
3 Results exclude goodwill, other intangible and store asset impairment charges, merger and integration costs, and gain on sale of asset.