Radio Shack 2008 Annual Report Download - page 55

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RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Income
Year Ended December 31,
2008 2007 2006
% of % of % of
(In millions, except per share amounts) Dollars Revenues Dollars Revenues Dollars Revenues
Net sales and operating revenues $ 4,224.5 100.0% $ 4,251.7 100.0% $ 4,777.5 100.0%
Cost of products sold (includes depreciation
amounts of $11.2 million, $10.0 million
and $10.7 million, respectively)
2,301.8
54.5
2,225.9
52.4
2,648.1
55.4
Gross profit 1,922.7 45.5 2,025.8 47.6 2,129.4 44.6
Operating expenses:
Selling, general and administrative 1,509.8 35.7 1,538.5 36.2 1,810.7 37.9
Depreciation and amortization 88.1 2.1 102.7 2.4 117.5 2.5
Impairment of long-lived assets
and other charges
2.8
0.1
2.7
--
44.3
0.9
Total operating expenses 1,600.7 37.9 1,643.9 38.6 1,972.5 41.3
Operating income 322.0 7.6 381.9 9.0 156.9 3.3
Interest income 14.6 0.3 22.6 0.5 7.4 0.1
Interest expense (29.9) (0.7) (38.8) (0.9) (44.3) (0.9)
Other (loss) income (2.4) -- 0.9 -- (8.6) (0.2)
Income before income taxes 304.3 7.2 366.6 8.6 111.4 2.3
Income tax expense 111.9 2.6 129.8 3.0 38.0 0.8
Net income $ 192.4 4.6% $ 236.8 5.6% $ 73.4 1.5%
Net income per share:
Basic $ 1.49 $ 1.76 $ 0.54
Diluted: $ 1.49 $ 1.74 $ 0.54
Shares used in computing net income
per share:
Basic 129.0 134.6 136.2
Diluted 129.1 135.9 136.2
The accompanying notes are an integral part of these consolidated financial statements.
48