Radio Shack 2004 Annual Report Download - page 57

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(Dollars and shares in millions, except per share amounts, Year Ended December 31,
ratios, locations and square footage) 2004 2003 2002 2001 2000
Statements of Income Data
Net sales and operating revenues $4,841.2 $4,649.3 $4,577.2 $4,775.7 $4,794.7
Operating income $ 558.3 $ 483.7 $ 425.4 $ 359.3 $ 629.7
Net income $ 337.2 $ 298.5 $ 263.4 $ 166.7 $ 368.0
Net income available per common share:
Basic $ 2.09 $ 1.78 $ 1.50 $ 0.88 $ 1.94
Diluted $ 2.08 $ 1.77 $ 1.45 $ 0.85 $ 1.84
Shares used in computing earnings per common share:
Basic 161.0 167.7 173.0 183.8 187.3
Diluted 162.5 168.9 179.3 191.2 197.7
Gross profit as a percent of sales 50.3% 49.8% 48.9% 48.1% 49.4%
SG&A expense as a percent of sales 36.7% 37.4% 37.8% 35.9% 34.1%
Operating income as a percent of sales 11.5% 10.4% 9.3% 7.5% 13.1%
Balance Sheet Data
Inventories $1,003.7 $ 766.5 $ 971.2 $ 949.8 $1,164.3
Total assets $2,516.7 $2,243.9 $2,227.9 $2,245.1 $2,576.5
Working capital $ 817.7 $ 808.5 $ 878.7 $ 887.9 $ 585.8
Capital structure:
Current debt $ 55.6 $ 77.4 $ 36.0 $ 105.5 $ 478.6
Long-term debt $ 506.9 $ 541.3 $ 591.3 $ 565.4 $ 302.9
Total debt $ 562.5 $ 618.7 $ 627.3 $ 670.9 $ 781.5
Total debt, net of cash and cash equivalents $ 124.6 $ (16.0) $ 180.8 $ 269.5 $ 650.8
Stockholders’ equity $ 922.1 $ 769.3 $ 728.1 $ 778.1 $ 880.3
Total capitalization (1) $1,484.6 $1,388.0 $1,355.4 $1,449.0 $1,661.8
Long-term debt as a % of total capitalization (1) 34.1% 39.0% 43.6% 39.0% 18.2%
Total debt as a % of total capitalization (1) 37.9% 44.6% 46.3% 46.3% 47.0%
Book value per common share at year end $ 5.83 $ 4.73 $ 4.24 $ 4.40 $ 4.74
Financial Ratios
Return on average stockholders’ equity 39.9% 39.9% 35.0% 20.1% 43.0%
Return on average assets 14.2% 13.4% 11.8% 6.9% 15.6%
Annual inventory turnover 2.7 2.7 2.4 2.3 2.4
Other Data
Dividends declared per common share $ 0.250 $ 0.250 $ 0.220 $ 0.165 $ 0.220
Dividends paid per common share $ 0.250 $ 0.250 $ 0.220 $ 0.220 $ 0.220
Capital expenditures $ 229.4 $ 189.6 $ 106.8 $ 139.2 $ 119.6
Number of retail locations at year end 7,433 7,051 7,213 7,373 7,199
Average square footage per company-operated store 2,529 2,450 2,400 2,350 2,300
Comparable company store sales increase (decrease) 3% 2% (1%) 1% 11%
Shares outstanding 158.2 162.5 171.7 176.8 185.8
(1) Capitalization is defined as total debt plus total stockholders’ equity.
This table should be read in conjunction with MD&A and the Consolidated Financial Statements and related Notes.
Selected Financial Data (Unaudited)
RadioShack Corporation and Subsidiaries
55
AR2004