Harman Kardon 2008 Annual Report Download - page 61
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43
Consolidated Statements of Operations
Harman International Industries, Incorporated and Subsidiaries
($000s omitted except per share amounts)
Years Ended June 30,
2008 2007 2006
N
et sales $ 4,112,503 3,551,144
3,247,897
Cost of sales 3,003,097 2,339,938 2,095,327
Gross profit 1,109,406 1,211,206 1,152,570
Selling, general and administrative expenses 970,905 824,819 755,329
Operating income 138,501 386,387 397,241
Other expenses:
Interest expense, net 8,648 1,500 13,027
Miscellaneous, net 5,369 2,682 8,027
Income before income taxes and minority interest 124,484 382,205 376,187
Income tax expense, net 17,119 70,186 121,877
Minority interest (421) (1,944) (985)
N
et income $ 107,786 313,963 255,295
Basic earnings per share $ 1.75 4.81 3.85
Diluted earnings per share $ 1.73 4.72 3.75
Weighted average shares outstanding – basic 61,472 65,310 66,260
Weighted average shares outstanding – diluted 62,182 66,449 68,105
See accompanying notes to consolidated financial statements.