LensCrafters 2005 Annual Report Download - page 103

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> 102 | ANNUAL REPORT 2005
2003 2004 2005 2005
(Euro/000) (US$/000) (1)
NET SALES 2,852,194 3,255,300 4,370,744 5,175,835
COST OF SALES (903,617) (1,040,697) (1,380,653) (1,634,969)
GROSS PROFIT 1,948,577 2,214,603 2,990,091 3,540,866
OPERATING EXPENSES
Selling and advertising (1,235,757) (1,376,546) (1,909,747) (2,261,522)
General and administrative (281,033) (345,243) (477,790) (565,799)
Total (1,516,790) (1,721,789) (2,387,537) (2,827,321)
INCOME FROM OPERATIONS 431,787 492,814 602,554 713,544
OTHER INCOME (EXPENSE)
• Interest income 5,922 6,662 5,650 6,691
• Interest expense (47,117) (56,115) (66,332) (78,550)
• Other - net (799) 13,792 15,697 18,588
Other income (expense) - net (41,994) (35,661) (44,985) (53,271)
INCOME BEFORE PROVISION
FOR INCOME TAXES 389,793 457,153 557,569 660,273
Provision for income taxes (117,328) (161,665) (206,022) (243,971)
INCOME BEFORE MINORITY INTERESTS
IN CONSOLIDATED SUBSIDIARIES 272,465 295,488 351,547 416,302
Minority interests in income
of consolidated subsidiaries (5,122) (8,614) (9,253) (10,957)
NET INCOME 267,343 286,874 342,294 405,345
EARNINGS PER SHARE: BASIC Euro 0.60 Euro 0.64 Euro 0.76 US$ 0.90
EARNINGS PER SHARE: DILUTED Euro 0.59 Euro 0.64 Euro 0.76 US$ 0.89
WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING (thousands)
Basic 448,664 448,275 450,179
Diluted 450,202 450,361 453,303
STATEMENTS
OF CONSOLIDATED
INCOME FOR
THE YEARS ENDED
DECEMBER 31, 2003,
2004 AND 2005 (*)
(1) Translated for convenience at the New York City Noon Buying Rate as determined in Note 1.
See Notes to Consolidated Financial Statements.
(*) In accordance with U.S. GAAP.