Lumber Liquidators 2009 Annual Report Download - page 49

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Lumber Liquidators Holdings, Inc.
Consolidated Statements of Income
(in thousands, except share data and per share amounts)
Year Ended December 31,
2009 2008 2007
Net Sales ........................................................ $ 544,568 $ 482,179 $ 405,307
Cost of Sales ...................................................... 349,891 314,501 270,193
Gross Profit .................................................. 194,677 167,678 135,114
Selling, General and Administrative Expenses ........................... 151,070 130,693 116,308
Operating Income .............................................. 43,607 36,985 18,806
Interest Expense ................................................... 2 27 722
Other (Income) Expense ............................................. (500) (834) (413)
Income Before Income Taxes ..................................... 44,105 37,792 18,497
Provision for Income Taxes .......................................... 17,181 15,643 7,171
Net Income ...................................................... $ 26,924 $ 22,149 $ 11,326
Net Income per Common Share—Basic ............................... $ 1.00 $ 0.83 $ 0.68
Net Income per Common Share—Diluted ............................. $ 0.97 $ 0.82 $ 0.48
Weighted Average Common Shares Outstanding:
Basic ........................................................ 26,983,689 26,772,288 16,646,674
Diluted ...................................................... 27,684,547 27,090,593 23,634,995
See accompanying notes to consolidated financial statements
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