Family Dollar 2010 Annual Report Download - page 40

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FAMILY DOLLAR STORES, INC., AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
Years Ended
(in thousands, except per share amounts) August 28, 2010 August 29, 2009 August 30, 2008
Net sales ............................................. $7,866,971 $7,400,606 $6,983,628
Cost and expenses:
Cost of sales ...................................... 5,058,971 4,822,401 4,637,826
Selling, general and administrative .................... 2,232,402 2,120,936 1,980,496
Cost of sales and operating expenses ....................... 7,291,373 6,943,337 6,618,322
Operating profit ....................................... 575,598 457,269 365,306
Interest income ........................................ 1,597 6,595 11,042
Interest expense ....................................... 13,337 12,939 14,586
Income before income taxes ............................. 563,858 450,925 361,762
Income taxes ......................................... 205,723 159,659 128,689
Net income ........................................... $ 358,135 $ 291,266 $ 233,073
Net income per common share—basic ..................... $ 2.64 $ 2.08 $ 1.66
Weighted average shares—basic ...................... 135,745 139,894 140,193
Net income per common share—diluted .................... $ 2.62 $ 2.07 $ 1.66
Weighted average shares—diluted .................... 136,596 140,522 140,494
The accompanying notes are an integral part of the consolidated financial statements.
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