GameStop 2007 Annual Report Download - page 72

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GAMESTOP CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
52 Weeks
Ended
February 2,
2008
53 Weeks
Ended
February 3,
2007
52 Weeks
Ended
January 28,
2006
(In thousands, except per share data)
Sales ............................................... $7,093,962 $5,318,900 $3,091,783
Cost of sales ......................................... 5,280,255 3,847,458 2,219,753
Gross profit ........................................ 1,813,707 1,471,442 872,030
Selling, general and administrative expenses .................. 1,182,016 1,021,113 599,343
Depreciation and amortization ............................. 130,270 109,862 66,355
Merger-related expenses ................................. — 6,788 13,600
Operating earnings ................................... 501,421 333,679 192,732
Interest income ........................................ (13,779) (11,338) (5,135)
Interest expense ....................................... 61,553 84,662 30,427
Merger-related interest expense ............................ — — 7,518
Debt extinguishment expense ............................. 12,591 6,059 —
Earnings before income tax expense ...................... 441,056 254,296 159,922
Income tax expense .................................... 152,765 96,046 59,138
Net earnings ........................................ $ 288,291 $ 158,250 $ 100,784
Net earnings per common share — basic ..................... $ 1.82 $ 1.06 $ 0.87
Weighted average shares of common stock — basic ............. 158,226 149,924 115,840
Net earnings per common share — diluted.................... $ 1.75 $ 1.00 $ 0.81
Weighted average shares of common stock — diluted ........... 164,844 158,284 124,972
See accompanying notes to consolidated financial statements.
F-5