Petsmart 2005 Annual Report Download - page 63

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PetSmart, Inc. and Subsidiaries
Consolidated Statements of Operations and Comprehensive Income
January 29,
2006
January 30,
2005
February 1,
2004
Fiscal Year Ended
(In thousands, except per share data)
Net sales . . .......................................... $3,760,499 $3,363,452 $2,993,115
Cost of sales ......................................... 2,584,304 2,324,865 2,092,997
Gross profit .......................................... 1,176,195 1,038,587 900,118
Operating, general and administrative expenses ................ 864,815 781,248 681,270
Operating income ...................................... 311,380 257,339 218,848
Interest income ........................................ 9,037 4,791 3,358
Interest expense ....................................... (31,208) (21,326) (19,250)
Income before income tax expense ......................... 289,209 240,804 202,956
Income tax expense .................................... 106,719 83,351 78,005
Net income .......................................... 182,490 157,453 124,951
Other comprehensive (loss) income, net of income tax:
Foreign currency translation adjustments ................... (12) 160 3,260
Comprehensive income ................................ $ 182,478 $ 157,613 $ 128,211
Earnings per common share:
Basic . . . .......................................... $ 1.30 $ 1.09 $ 0.88
Diluted . . .......................................... $ 1.25 $ 1.05 $ 0.85
Weighted average shares outstanding:
Basic . . . .......................................... 140,791 143,888 141,641
Diluted . . .......................................... 145,577 149,652 147,255
Dividends declared per common share....................... $ 0.12 $ 0.12 $ 0.04
The accompanying notes are an integral part of these consolidated financial statements.
F-4