Radio Shack 2008 Annual Report Download - page 88

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NOTE 17 - QUARTERLY DATA (UNAUDITED)
As our operations are predominantly retail oriented, our business is subject to seasonal fluctuations, with the
fourth quarter generally being the most significant in terms of sales and profits because of the winter holiday
selling season.
Three Months Ended
(In millions, except per share amounts) Mar. 31 Jun. 30 Sep. 30 Dec. 31
Year ended December 31, 2008:
Net sales and operating revenues (1) $ 949.0 $ 994.9 $ 1,021.9 $ 1,258.7
Cost of products sold 499.4 525.5 544.5 732.4
Gross profit 449.6 469.4 477.4 526.3
SG&A expense (2) 362.4 375.4 370.4 401.6
Depreciation and amortization 22.4 22.1 21.6 22.0
Impairment of long-lived assets and other
charges
0.6
0.6
0.6
1.0
Total operating expenses 385.4 398.1 392.6 424.6
Operating income 64.2 71.3 84.8 101.7
Interest income 3.6 3.4 3.9 3.7
Interest expense (7.1) (6.7) (7.4) (8.7)
Other loss (1.5) (0.6) (0.1) (0.2)
Income before taxes 59.2 67.4 81.2 96.5
Income tax expense 20.4 26.0 31.0 34.5
Net income $ 38.8 $ 41.4 $ 50.2 $ 62.0
Net income per share:
Basic and diluted $ 0.30 $ 0.32 $ 0.39 $ 0.50
Shares used in computing income per
share:
Basic 131.2 131.2 128.4 125.2
Diluted 131.3 131.2 128.8 125.2
(1) In the third quarter of 2008, we recorded $12.2 million in previously deferred revenue.
(2) The second quarter of 2008 includes net charges aggregating $12.1 million associated with the amended lease
for our corporate headquarters.
81