Harris Teeter 2007 Annual Report Download - page 2

(dollars in thousands, except share and per share data) 2007 2006 2005 20041,2 20031 20021 20011 2000 19992 1998 1997
Net Sales Harris Teeter $ 3,299,377 $ 2,922,679 $ 2,644,976 $ 2,572,367 $ 2,431,632 $ 2,349,650 $ 2,416,799 $ 2,332,908 $ 2,273,156 $ 2,132,223 $ 1,931,212 American & Efi rd 339,831 343,177 319,679 296,230 293,107 294,548 326,491 359,183 361,133 365,184 378,723
Total Net Sales $ 3,639,208 $ 3,265,856 $ 2,964,655 $ 2,868,597 $ 2,724,739 $ 2,644,198 $ 2,743,290 $ 2,692,091 $ 2,634,289 $ 2,497,407 $ 2,309,935
Operating Profi t (Loss) Harris Teeter $ 154,083 $ 127,637 $ 113,580 $ 104,406 $ 93,622 $ 88,773 $ 31,802 $ 59,146 $ 55,438 $ 52,126 $ 45,671 American & Efi rd 1,424 1,579 9,010 13,073 13,624 12,495 21,635 47,478 48,617 42,070 49,165
Corporate (7,333) (6,147) (7,330) (5,065) (5,134) (7,466) (4,735) (7,178) (7,507) (7,770) (9,794) Total Operating Profi t $ 148,174 $ 123,069 $ 115,260 $ 112,414 $ 102,112 $ 93,802 $ 48,702 $ 99,446 $ 96,548 $ 86,426 $ 85,042
Net Income (Loss) $ 80,688 $ 72,336 $ 68,598 $ 64,659 $ 59,882 $ 51,983 $ (727) $ 51,002 $ 50,714 $ 46,772 $ 47,731 Net Income (Loss) Per Share — Diluted 1.68 1.52 1.44 1.38 1.29 1.12 (0.02) 1.10 1.08 1.00 1.02 Common Dividend 0.44 0.44 0.44 0.40 0.36 0.36 0.36 0.36 0.33 0.32 0.32 Shareholders’ Equity $ 736,610 $ 670,517 $ 608,942 $ 549,710 $ 495,265 $ 457,688 $ 445,353 $ 473,005 $ 443,683 $ 410,725 $ 380,507 Percent Return on Beginning Equity 12.0% 11.9% 12.5% 13.1% 13.1% 11.7% (0.2%) 11.5% 12.3% 12.3% 13.8% Book Value Per Share $ 15.31 $ 14.10 $ 12.82 $ 11.76 $ 10.71 $ 9.85 $ 9.61 $ 10.23 $ 9.55 $ 8.82 $ 8.17 Capital Expenditures Harris Teeter $ 205,474 $ 210,336 $ 115,423 $ 83,941 $ 64,370 $ 66,591 $ 68,525 $ 98,973 $ 77,513 $ 75,082 $ 86,237 American & Efi rd 7,666 7,626 13,552 8,104 9,197 7,833 19,169 19,744 15,658 20,246 28,878
Corporate 6,763 574 25 47 14 4,692 27 38 3,766 145 184 Total Capital Expenditures $ 219,903 $ 218,536 $ 129,000 $ 92,092 $ 73,581 $ 79,116 $ 87,721 $ 118,755 $ 96,937 $ 95,473 $ 115,299 Working Capital $ 73,494 $ 98,119 $ 130,811 $ 187,971 $ 165,192 $ 165,911 $ 112,272 $ 138,091 $ 124,060 $ 87,333 $ 88,893 Total Assets 1,529,689 1,362,936 1,203,640 1,109,097 1,065,022 1,039,271 940,064 1,020,684 969,924 931,544 885,243 Long-Term Debt — Including Current Portion 264,392 237,731 163,445 166,287 189,095 185,892 157,113 227,940 198,961 191,931 190,494 Long-Term Debt as a Percent of Capital Employed 26.3% 26.0% 21.0% 23.0% 27.3% 28.5% 25.7% 32.1% 30.7% 31.6% 33.1% Number of Employees 24,800 22,400 20,400 18,200 17,500 17,650 17,100 20,000 19,800 20,700 19,700 Common Shares Outstanding 48,127,252 47,557,894 47,488,979 46,730,758 46,223,233 46,454,188 46,319,696 46,220,876 46,451,240 46,554,591 46,599,301
Eleven-Year Financial and Operating Summary
1 Operating Profi t, Net Income, Net Income Per Share — Diluted and related returns include the following exit and impairment charges and tax settlement, which have
been previously disclosed in the Company’s annual reports on Form 10-K:
Fiscal 2004: Exit and impairment charges at A&E of $384 ($238 after taxes). Fiscal 2003: Exit and impairment charges at A&E of $580 ($360 after taxes, or $0.01 per diluted share). Fiscal 2002: Exit and impairment credits at Harris Teeter of $710 ($431 after taxes, or $0.01 per diluted share)
and exit and impairment charges at A&E of $7,823 ($4,825 after taxes, or $0.10 per diluted share).
Fiscal 2001: Exit and impairment charges at Harris Teeter of $45,035 ($27,370 after taxes, or $0.59 per diluted share), exit and impairment charges at A&E of
$2,105 ($1,285 after taxes, or $0.03 per diluted share) and a tax settlement with the IRS for $20,000 ($0.43 per diluted share).
2 53-week year.