Pep Boys 2007 Annual Report Download - page 82
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CONSOLIDATED STATEMENTS OF OPERATIONS
The Pep Boys—Manny, Moe & Jack and Subsidiaries
(dollar amounts in thousands, except share data)
February 2, February 3, January 28,
Year ended 2008 2007 2006
Merchandise Sales .................................. $1,749,578 $1,853,077 $1,830,632
Service Revenue ................................... 388,497 390,778 378,342
Total Revenues .................................... 2,138,075 2,243,855 2,208,974
Costs of Merchandise Sales ........................... 1,305,952 1,319,801 1,360,613
Costs of Service Revenue ............................. 345,886 357,774 346,066
Total Costs of Revenues .............................. 1,651,838 1,677,575 1,706,679
Gross Profit from Merchandise Sales .................... 443,626 533,276 470,019
Gross Profit from Service Revenue ...................... 42,611 33,004 32,276
Total Gross Profit .................................. 486,237 566,280 502,295
Selling, General and Administrative Expenses .............. 518,373 546,399 519,600
Net Gain from Disposition of Assets ..................... 15,151 8,968 4,826
Operating (Loss) Profit .............................. (16,985) 28,849 (12,479)
Non-operating Income ............................... 5,246 7,023 3,897
Interest Expense ................................... 51,293 49,342 49,040
Loss from Continuing Operations Before Income Taxes and
Cumulative Effect of Change in Accounting Principle ....... (63,032) (13,470) (57,622)
Income Tax Benefit ................................. (25,594) (6,399) (21,027)
Net Loss from Continuing Operations Before Cumulative Effect
of Change in Accounting Principle .................... (37,438) (7,071) (36,595)
(Loss) Earnings from Discontinued Operations, Net of Tax of
$(2,463); $1,796 and $625 ........................... (3,601) 4,333 1,088
Cumulative Effect of Change in Accounting Principle, Net of
Tax of $(78) and $1,161 ............................ — 189 (2,021)
Net Loss ......................................... $ (41,039) $ (2,549) $ (37,528)
Basic Loss per Share:
Net Loss from Continuing Operations Before Cumulative Effect
of Change in Accounting Principle .................... $ (0.72) $ (0.13) $ (0.67)
(Loss) Earnings from Discontinued Operations, Net of Tax .... (0.07) 0.08 0.02
Cumulative Effect of Change in Accounting Principle, Net of
Tax ........................................... — — (0.04)
Basic Loss per Share ................................ $ (0.79) $ (0.05) $ (0.69)
Diluted Loss per Share:
Net Loss from Continuing Operations Before Cumulative Effect
of Change in Accounting Principle .................... $ (0.72) $ (0.13) $ (0.67)
(Loss) Earnings from Discontinued Operations, Net of Tax .... (0.07) 0.08 0.02
Cumulative Effect of Change in Accounting Principle, Net of Tax . . — — (0.04)
Diluted Loss per Share .............................. $ (0.79) $ (0.05) $ (0.69)
See notes to the consolidated financial statements
36
10-K