Lumber Liquidators 2010 Annual Report Download - page 48

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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,
2010 2009 2008
Net Sales ........................................................ $ 620,281 $ 544,568 $ 482,179
Cost of Sales ...................................................... 404,451 349,891 314,501
Gross Profit .................................................. 215,830 194,677 167,678
Selling, General and Administrative Expenses ........................... 173,667 151,070 130,693
Operating Income .............................................. 42,163 43,607 36,985
Interest Expense ................................................... — 2 27
Other (Income) Expense ............................................. (579) (500) (834)
Income Before Income Taxes ..................................... 42,742 44,105 37,792
Provision for Income Taxes .......................................... 16,476 17,181 15,643
Net Income ...................................................... $ 26,266 $ 26,924 $ 22,149
Net Income per Common Share—Basic ............................... $ 0.96 $ 1.00 $ 0.83
Net Income per Common Share—Diluted ............................. $ 0.93 $ 0.97 $ 0.82
Weighted Average Common Shares Outstanding:
Basic ........................................................ 27,384,095 26,983,689 26,772,288
Diluted ...................................................... 28,246,453 27,684,547 27,090,593
See accompanying notes to consolidated financial statements
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