LensCrafters 2009 Annual Report Download - page 53

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CONSOLIDATED
STATEMENT OF INCOME | 51 <
CONSOLIDATED STATEMENTS OF INCOME FOR THE YEARS ENDED
DECEMBER 31, 2009, 2008 AND 2007 (*)
2009 2008 2007
(Euro/000, unless otherwise indicated)
NET SALES 5,094,318 5,201,611 4,966,054
COST OF SALES (1,768,436) (1,751,251) (1,575,618)
GROSS PROFIT 3,325,882 3,450,360 3,390,436
OPERATING EXPENSES:
Selling and advertising (2,106,360) (2,124,430) (2,069,280)
General and administrative (636,320) (576,167) (487,843)
Total (2,742,680) (2,700,597) (2,557,123)
INCOME FROM OPERATIONS 583,202 749,763 833,313
OTHER INCOME (EXPENSE):
Interest income 6,887 13,265 17,087
Interest expense (91,571) (135,267) (89,498)
Other - net (4,235) (37,890) 19,780
Other expense - net (88,919) (159,892) (52,631)
INCOME BEFORE PROVISION FOR INCOME TAXES 494,283 589,870 780,681
PROVISION FOR INCOME TAXES (167,416) (194,657) (273,501)
NET INCOME 326,867 395,213 507,180
LESS: NET INCOME ATTRIBUTABLE
TO NONCONTROLLING INTERESTS (12,105) (15,492) (14,976)
NET INCOME ATTRIBUTABLE TO
LUXOTTICA GROUP SHAREHOLDERS 314,762 379,722 492,204
BASIC EARNINGS PER SHARE (Euro) 0.69 0.83 1.08
FULLY DILUTED EARNINGS PER SHARE (Euro) 0.69 0.83 1.07
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic 457,270,491 456,563,502 455,184,797
Diluted 457,942,618 457,717,044 458,530,609
(*) In accordance with US GAAP. See notes to the consolidated fi nancial statements.