North Face 2001 Annual Report Download - page 2

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2001 FINANCIAL HIGHLIGHTS
In thousands, except per share amounts
2001* 2000** 1999
Summary of Operations
Net sales $5,518,805 $5,747,879 $5,551,616
Operating income 347,246 509,993 652,632
Net income 137,830 260,334 366,242
Return on average common equity 6.2% 11.7% 17.3%
Financial Position
Working capital $1,217,587 $1,103,896 $ 763,943
Current ratio 2.5 to 1 2.1 to 1 1.7 to 1
Common shareholders‘ equity $2,112,796 $2,191,813 $2,163,818
Per Common Share
Earnings – basic $ 1.19 $ 2.25 $ 3.04
Dividends 0.93 0.89 0.85
Book value 19.21 19.52 18.62
CONTENTS
01 Brand Portfolio
22 Letter to Shareholders
26 Coalition Review
37 Financial Review
*Net income in 2001 was reduced by $170.0 million ($1.53 per share) for restructuring charges.
**Net income in 2000 was reduced by $76.7 million ($.67 per share) for restructuring charges and $6.8 million ($.06 per share)
for the cumulative effect of a change in accounting policy.