Lumber Liquidators 2007 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2007 Lumber Liquidators annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

Lumber Liquidators, Inc.
Statements of Income
(in thousands, except share data and per share amounts)
Year Ended December 31,
2007 2006 2005
Net Sales ............................................... $ 405,307 $ 332,060 $ 244,947
Cost of Sales ............................................ 270,193 221,931 158,844
Gross Profit ........................................ 135,114 110,129 86,103
Selling, General and Administrative Expenses .................. 116,308 88,716 67,900
Operating Income .................................... 18,806 21,413 18,203
Interest Expense ......................................... 722 722 638
Other (Income) Expense ................................... (413) (368) (96)
Income Before Income Taxes ........................... 18,497 21,059 17,661
Provision for Income Taxes ................................ 7,171 8,161 6,948
Net Income ............................................. $ 11,326 $ 12,898 $ 10,713
Net Income per Common Share—Basic ..................... $ 0.68 $ 0.86 $ 0.71
Net Income per Common Share—Diluted ................... $ 0.48 $ 0.56 $ 0.46
Weighted Average Common Shares Outstanding:
Basic .............................................. 16,646,674 15,000,100 15,000,100
Diluted ............................................. 23,634,995 22,989,403 23,063,174
See accompanying notes to financial statements
49