Family Dollar 2007 Annual Report Download - page 14

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Years Ended (In thousands, except per share amounts) September 1, 2007 August 26, 2006 August 27, 2005
Net sales $ 6,834,305 $ 6,394,772 $ 5,824,808
Cost of sales 4,512,242 4,276,466 3,908,569
Gross margin 2,322,063 2,118,306 1,916,239
Selling, general and administrative expenses 1,933,430 1,756,001 1,577,429
Litigation charge — 45,000 —
Operating profit 388,633 317,305 338,810
Interest, net 6,737 6,161 (3,985)
Income before income taxes 381,896 311,144 342,795
Income taxes 139,042 116,033 125,286
Net income $ 242,854 $ 195,111 $ 217,509
Net income per common share – basic $ 1.63 $ 1.26 $ 1.30
Net income per common share – diluted $ 1.62 $ 1.26 $ 1.30
Dividends declared $ 66,361 $ 62,757 $ 61,538
Dividends declared per common share $ 0.45 $ 0.41 $ 0.37
Cash and investment securities $ 284,671 $ 216,232 $ 138,705
Total assets $ 2,624,156 $ 2,523,029 $ 2,409,501
Working capital $ 406,977 $ 432,737 $ 460,157
Long-term debt $ 250,000 $ 250,000 $ —
Shareholders’ equity $ 1,174,641 $ 1,208,393 $ 1,428,066
Comparable store sales gain 0.9% 3.7% 2.3%
Stores opened 300 350 500
Stores closed 43 75 68
Number of stores – end of year 6,430 6,173 5,898
F
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20.0
19.6
15.7
14.8
20.4
243
258
218
195
243
’03 ’04 ’05 ’06 ’07 ’03 ’04 ’05 ’06 ’07 ’03 ’04 ’05 ’06 ’07 ’03 ’04 ’05 ’06 ’07 ’03 ’04 ’05 ’06 ’07
4,750
5,282
5,825
6,395
6,834
Net Sales
(millions of dollars)
Net Income
(millions of dollars)
Return
on Average
Shareholders’
Equity
(percent)
3.8
1.9
2.3
3.7
0.9
Comparable Store
Sales Gains
(percent)
1.40
1.50
1.30
1.26
1.62
Net Income
Per Diluted
Common Share
12
amily Dollar financial highlights.