GameStop 2006 Annual Report Download - page 72

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GAMESTOP CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
53 Weeks
Ended
February 3,
2007
52 Weeks
Ended
January 28,
2006
52 Weeks
Ended
January 29,
2005
(In thousands, except per share data)
Sales ............................................... $5,318,900 $3,091,783 $1,842,806
Cost of sales ......................................... 3,847,458 2,219,753 1,333,506
Gross profit ........................................ 1,471,442 872,030 509,300
Selling, general and administrative expenses .................. 1,000,135 598,996 373,364
Depreciation and amortization ............................. 109,862 66,355 36,789
Stock-based compensation ............................... 20,978 347 —
Merger-related expenses ................................. 6,788 13,600 —
Operating earnings ................................... 333,679 192,732 99,147
Interest income ........................................ (11,338) (5,135) (1,919)
Interest expense ....................................... 84,662 30,427 2,155
Merger-related interest expense ............................ — 7,518 —
Debt extinguishment expense ............................. 6,059 — —
Earnings before income tax expense ...................... 254,296 159,922 98,911
Income tax expense .................................... 96,046 59,138 37,985
Net earnings ........................................ $ 158,250 $ 100,784 $ 60,926
Net earnings per common share — basic ..................... $ 1.06 $ 0.87 $ 0.56
Weighted average shares of common stock — basic ............. 149,924 115,840 109,324
Net earnings per common share — diluted.................... $ 1.00 $ 0.81 $ 0.53
Weighted average shares of common stock — diluted ........... 158,284 124,972 115,592
See accompanying notes to consolidated financial statements.
F-4