Lumber Liquidators 2015 Annual Report Download - page 42

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Item 6. Selected Financial Data.
The selected statements of income data for the years ended December 31, 2015, 2014 and 2013 and the
balance sheet data as of December 31, 2015 and 2014 have been derived from our audited consolidated
financial statements included in Item 8. ‘‘Consolidated Financial Statements and Supplementary Data’’ of this
report. This information should be read in conjunction with those audited financial statements, the notes
thereto, and Item 7. ‘‘Management’s Discussion and Analysis of Financial Condition and Results of
Operations’’ of this report.
The selected balance sheet data set forth below as of December 31, 2013, 2012 and 2011, and income
data for the years ended December 31, 2012 and 2011 are derived from our audited consolidated financial
statements contained in reports previously filed with the SEC, which are not included herein. Our historical
results are not necessarily indicative of our results for any future period.
Year Ended December 31,
2015
(1)
2014 2013 2012 2011
(dollars in thousands, except per share amounts)
Statement of Income Data
Net Sales ................... $ 978,776 $ 1,047,419 $ 1,000,240 $ 813,327 $ 681,587
Comparable store net sales
(decrease) increase
(2)
....... (11.1)% (4.3)% 15.8% 11.4% (2.0)%
Cost of Sales ................ 699,918 629,252 589,257 504,542 440,912
Gross Profit ................. 278,858 418,167 410,983 308,785 240,675
Selling, General and Administrative
Expenses ................. 362,051 314,094 284,960 230,439 198,237
Operating (Loss) Income ........ (83,193) 104,073 126,023 78,346 42,438
Interest expense .............. 309 84 — — —
Other (Income) Expense
(3)
....... (75) 406 (442) (140) (587)
(Loss) Income Before Income
Taxes .................... (83,427) 103,583 126,465 78,486 43,025
Provision for income taxes ....... (26,994) 40,212 49,070 31,422 16,769
Net (Loss) Income ............ $ (56,433) $ 63,371 $ 77,395 $ 47,064 $ 26,256
Net (loss) income per common
share:
Basic .................... $ (2.08) $ 2.32 $ 2.82 $ 1.71 $ 0.95
Diluted ................... $ (2.08) $ 2.31 $ 2.77 $ 1.68 $ 0.93
Weighted average common shares
outstanding:
Basic .................... 27,082,299 27,264,882 27,484,790 27,448,333 27,706,629
Diluted ................... 27,082,299 27,485,852 27,914,322 28,031,453 28,379,693
(1) Results for the year ended December 31, 2015 include pre-tax expenses of $9.4 million related to the
purchase of testing kits and professional fees in connection with our indoor air quality testing program,
incremental legal and professional fees and settlement expenses, related to our defense of various legal
matters of approximately $37.0 million, asset impairment charges and other expenses related to the
simplification of our business and employee retention totaling approximately $16.2 million, and the write
down of our laminates and associated moldings sourced from China totaling approximately $22.5 million.
(2) A store is generally considered comparable on the first day of the thirteenth full calendar month after
opening.
(3) Includes interest income.
32