Dollar General 2003 Annual Report Download - page 27

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CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands except per share amounts)
For the years ended
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
January 30, 2004 January 31, 2003 February 1, 2002
––––––––––––––––––––––––––– ––––––––––––––––––––––––––– –––––––––––––––––––––––––––
% of % of % of
Amount Net Sales Amount Net Sales Amount Net Sales
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net sales $ 6,871,992 100.00% $ 6,100,404 100.00% $ 5,322,895 100.00%
Cost of goods sold 4,853,863 70.63 4,376,138 71.74 3,813,483 71.64
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Gross profit 2,018,129 29.37 1,724,266 28.26 1,509,412 28.36
Selling, general and administrative 1,496,866 21.78 1,296,542 21.25 1,135,801 21.34
Penalty and litigation
settlement proceeds 10,000 0.15 (29,541) (0.48) - -
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Operating profit 511,263 7.44 457,265 7.50 373,611 7.02
Interest expense, net 31,503 0.46 42,639 0.70 45,789 0.86
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Income before taxes on income 479,760 6.98 414,626 6.80 327,822 6.16
Provisions for taxes on income 178,760 2.60 149,680 2.45 120,309 2.26
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Net income $ 301,000 4.38% $ 264,946 4.34% $ 207,513 3.90%
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Diluted earnings per share $ 0.89 $ 0.79 $ 0.62
Weighted average diluted shares (000s) 337,636 335,050 335,017
Basic earnings per share $ 0.90 $ 0.80 $ 0.63
Weighted average basic shares (000s) 334,697 333,055 332,263
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
The accompanying notes are an integral part of the consolidated financial statements.
Income Statements
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