GNC 2010 Annual Report Download - page 77
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Table of Contents
GENERAL NUTRITION CENTERS, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
(in thousands)
Successor Predecessor
Year ended Year ended March 16- January 1-
December 31, December 31, December 31, March 15,
2009 2008 2007 2007
Revenue $ 1,707,007 $ 1,656,729 $ 1,222,987 $ 329,829
Cost of sales, including costs of warehousing, distribution and occupancy 1,116,437 1,082,630 814,238 212,175
Gross profit 590,570 574,099 408,749 117,654
Compensation and related benefits 263,046 249,793 195,792 64,311
Advertising and promotion 50,034 55,060 35,062 20,473
Other selling, general and administrative 96,454 98,732 71,213 17,396
Foreign currency loss (gain) (155) 733 (424) (154)
Merger-related costs (Note 1) — — — 34,603
Operating income (loss) 181,191 169,781 107,106 (18,975)
Interest expense, net (Note 12) 69,953 83,000 75,522 43,036
Income (loss) before income taxes 111,238 86,781 31,584 (62,011)
Income tax expense (benefit) (Note 5) 41,619 32,001 12,600 (10,697)
Net income (loss) $ 69,619 $ 54,780 $ 18,984 $ (51,314)
The accompanying notes are an integral part of the consolidated financial statements.
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