Pep Boys 2010 Annual Report Download - page 77

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ITEM 6 SELECTED FINANCIAL DATA
The following tables set forth the selected financial data for the Company and should be read in
conjunction with the Consolidated Financial Statements and Notes thereto included elsewhere herein.
Jan. 29, Jan. 30, Jan. 31,
Fiscal Year Ended 2011 2010 2009 Feb. 2, 2008 Feb. 3, 2007
(dollar amounts are in thousands, except per share data)
STATEMENT OF OPERATIONS DATA(6)
Merchandise sales ........................ $1,598,168 $ 1,533,619 $ 1,569,664 $ 1,749,578 $ 1,853,077
Service revenue ......................... 390,473 377,319 358,124 388,497 390,778
Total revenues .......................... 1,988,641 1,910,938 1,927,788 2,138,075 2,243,855
Gross profit from merchandise sales(7) ........... 487,788(1) 448,815(2) 440,502(3) 443,626(4) 533,276
Gross profit from service revenue(7) ............. 34,564(1) 37,292(2) 24,930(3) 42,611(4) 33,004
Total gross profit ......................... 522,352(1) 486,107(2) 465,432(3) 486,237(4) 566,280
Selling, general and administrative expenses ........ 442,239 430,261 485,044 518,373 546,399
Net gain from disposition of assets ............. 2,467 1,213 9,716 15,151 8,968
Operating profit (loss) ..................... 82,580 57,059 (9,896) (16,985) 28,849
Non-operating income ..................... 2,609 2,261 1,967 5,246 7,023
Interest expense ......................... 26,745 21,704(5) 27,048(5) 51,293 49,342
Earnings (loss) from continuing operations before
income taxes, discontinued operations and
cumulative effect of change in accounting principle . . 58,444(1) 37,616(2) (34,977)(3) (63,032)(4) (13,470)
Earnings (loss) from continuing operations before
discontinued operations and cumulative effect of
change in accounting principle ............... 37,171 24,113 (28,838) (37,438) (7,071)
Discontinued operations, net of tax ............. (540) (1,077)(2) (1,591)(3) (3,601)(4) 4,333
Cumulative effect of change in accounting principle,
net of tax ............................————189
Net earnings (loss) ....................... 36,631 23,036 (30,429) (41,039) (2,549)
BALANCE SHEET DATA
Working capital ......................... $ 203,367 $ 205,525 $ 179,233 $ 195,343 $ 163,960
Current ratio ........................... 1.36 to 1 1.40 to 1 1.33 to 1 1.35 to 1 1.27 to 1
Merchandise inventories .................... $ 564,402 $ 559,118 $ 564,931 $ 561,152 $ 607,042
Property and equipment-net .................. $ 700,981 $ 706,450 $ 740,331 $ 780,779 $ 906,247
Total assets ............................ $1,556,672 $ 1,499,086 $ 1,552,389 $ 1,583,920 $ 1,767,199
Long-term debt, excluding current maturities ....... $ 295,122 $ 306,201 $ 352,382 $ 400,016 $ 535,031
Total stockholders’ equity ................... $ 478,460 $ 443,295 $ 423,156 $ 470,712 $ 567,755
DATA PER COMMON SHARE
Basic earnings (loss) from continuing operations before
discontinued operations and cumulative effect of
change in accounting principle ............... $ 0.71 $ 0.46 $ (0.55) $ (0.72) $ (0.13)
Basic earnings (loss) ...................... 0.70 0.44 (0.58) (0.79) (0.05)
Diluted earnings (loss) from continuing operations
before discontinued operations and cumulative effect
of change in accounting principle ............. 0.70 0.46 (0.55) (0.72) (0.13)
Diluted earnings (loss) ..................... 0.69 0.44 (0.58) (0.79) (0.05)
Cash dividends declared .................... 0.12 0.12 0.27 0.27 0.27
Book value ............................ 9.10 8.46 8.10 9.10 10.53
Common share price range:
High ............................... 15.96 10.83 12.56 22.49 16.55
Low ............................... 7.86 2.76 2.62 8.25 9.33
OTHER STATISTICS
Return on average stockholders’ equity(8) ......... 7.9% 5.3% (6.8)% (7.9)% (0.4)%
Common shares issued and outstanding .......... 52,585,131 52,392,967 52,237,750 51,752,677 53,934,084
Capital expenditures ...................... $ 70,252 $ 43,214 $ 151,883(9) $ 43,116 $ 53,903
Number of stores ........................ 621 587 562 562 593
Number of service bays ..................... 6,259 6,027 5,845 5,845 6,162
(1) Includes a pretax benefit of $5.9 million due to the reduction in reserve for excess inventory which reduced merchandise
cost of sales and an aggregate pretax charge of $1.0 million for asset impairment, of which $0.8 million was charged to
merchandise cost of sales and $0.2 million was charged to service cost of sales.
(2) Includes an aggregate pretax charge of $3.1 million for asset impairment, of which $2.2 million was charged to merchandise
cost of sales, $0.7 million was charged to service cost of sales and $0.2 million (pretax) was charged to discontinued
operations.
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