Dollar General 2009 Annual Report Download - page 71

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DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Successor Predecessor
March 6, 2007 February 3,
For the Year Ended through 2007
January 29, January 30, February 1, through
2010 2009 2008(a) July 6, 2007
Net sales ............................. $11,796,380 $10,457,668 $5,571,493 $3,923,753
Cost of goods sold ...................... 8,106,509 7,396,571 3,999,599 2,852,178
Gross profit .......................... 3,689,871 3,061,097 1,571,894 1,071,575
Selling, general and administrative expenses . . . 2,736,613 2,448,611 1,324,508 960,930
Litigation settlement and related costs, net .... — 32,000 — —
Transaction and related costs .............. — — 1,242 101,397
Operating profit ....................... 953,258 580,486 246,144 9,248
Interest income ........................ (144) (3,061) (3,799) (5,046)
Interest expense ....................... 345,744 391,932 252,897 10,299
Other (income) expense .................. 55,542 (2,788) 3,639 —
Income (loss) before income taxes .......... 552,116 194,403 (6,593) 3,995
Income tax expense (benefit) .............. 212,674 86,221 (1,775) 11,993
Net income (loss) ...................... $ 339,442 $ 108,182 $ (4,818) $ (7,998)
Earnings (loss) per share:
Basic .............................. $ 1.05 $ 0.34 $ (0.02)
Diluted ............................ $ 1.04 $ 0.34 $ (0.02)
Weighted average shares:
Basic .............................. 322,778 317,024 316,777
Diluted ............................ 324,836 317,503 316,777
(a) Includes the results of operations of Buck Acquisition Corp. (‘‘BAC’’) for the period prior to its
Merger with and into Dollar General Corporation from March 6, 2007 (the date of BAC’s
formation) through July 6, 2007 (reflecting the change in fair value of interest rate swaps), and the
post-Merger results of Dollar General Corporation for the period from July 7, 2007 through
February 1, 2008. See Notes 1 and 3.
The accompanying notes are an integral part of the consolidated financial statements.
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