North Face 2001 Annual Report Download - page 49

Download and view the complete annual report

Please find page 49 of the 2001 North Face 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 76

  • 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

Quarterly Results of Operations (Unaudited)
Earnings Per
In thousands, Common Share Dividends Per
except per share amounts Net Sales Gross Profit Net Income Basic Diluted Common Share
2001
First quarter $1,423,299 $ 480,893 $ 77,486 $ .68 $ .67 $.23
Second quarter 1,322,958 446,915 69,381 .61 .60 .23
Third quarter 1,477,196 506,565 103,560 .92 .90 .23
Fourth quarter 1,295,352 285,598 (112,597)* (1.03)* (1.03)* .24
$5,518,805 $1,719,971 $ 137,830 $ 1.19 $ 1.19 $.93
2000
First quarter $1,355,184 $ 457,603 $ 71,069** $ .61** $ .60** $.22
Second quarter 1,330,325 462,859 75,745 .65 .64 .22
Third quarter 1,599,864 543,602 103,361 .90 .88 .22
Fourth quarter 1,462,506 441,364 10,159** .08** .08** .23
$5,747,879 $1,905,428 $ 260,334 $ 2.25 $ 2.21 $.89
1999
First quarter $1,358,244 $ 467,470 $ 85,566 $ .70 $ .69 $.21
Second quarter 1,364,830 461,935 79,582 .65 .64 .21
Third quarter 1,464,856 502,913 103,896 .87 .85 .21
Fourth quarter 1,363,686 462,178 97,198 .82 .81 .22
$5,551,616 $1,894,496 $ 366,242 $ 3.04 $ 2.99 $.85
* In the fourth quarter of 2001, restructuring charges reduced net income by $170.0 million ($1.53 per share). See Note M to the
consolidated financial statements.
* * The first quarter of 2000 includes an aftertax change of $6.8 million ($.06 per share) for the cumulative effect of a change
in accounting policy for revenue recognition. In addition, in the fourth quarter, restructuring charges reduced net income by
$76.7 million ($.67 per share). See Notes A and M, respectively, to the consolidated financial statements.
47