Radio Shack 2009 Annual Report Download - page 27

Download and view the complete annual report

Please find page 27 of the 2009 Radio Shack annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 97

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97

20
ITEM 6. SELECTED FINANCIAL DATA (UNAUDITED).
RADIOSHACK CORPORATION AND SUBSIDIARIES
Year Ended December 31,
(Dollars and shares in millions, except per share
amounts, ratios, locations and square footage) 2009
2008 (4) 2007
2006 (5) 2005
Statements of Income Data
Net sales and operating revenues $ 4,276.0 $ 4,224.5 $ 4,251.7 $ 4,777.5 $ 5,081.7
Operating income $ 369.4 $ 322.2 $ 381.9 $ 156.9 $ 349.9
Net income $ 205.0 $ 189.4 $ 236.8 $ 73.4 $ 267.0
Net income per share:
Basic $ 1.63 $ 1.47 $ 1.76 $ 0.54 $ 1.80
Diluted $ 1.63 $ 1.47 $ 1.74 $ 0.54 $ 1.79
Shares used in computing income per share:
Basic 125.4 129.0 134.6 136.2 148.1
Diluted 126.1 129.1 135.9 136.2 148.8
Gross profit as a percent of sales 45.9% 45.5% 47.6% 44.6% 44.6%
SG&A expense as a percent of sales 35.3% 35.7% 36.2% 37.9% 35.5%
Operating income as a percent of sales 8.6% 7.6% 9.0% 3.3% 6.9%
Balance Sheet Data
Inventories $ 670.6 $ 636.3 $ 705.4 $ 752.1 $ 964.9
Total assets $ 2,429.3 $ 2,254.0 $ 1,989.6 $ 2,070.0 $ 2,205.1
Working capital $ 1,361.2 $ 1,154.4 $ 818.8 $ 615.4 $ 641.0
Capital structure:
Current debt $ 41.6 $ 39.3 $ 61.2 $ 194.9 $ 40.9
Long-term debt $ 627.8 $ 659.5 $ 348.2 $ 345.8 $ 494.9
Total debt $ 669.4 $ 698.8 $ 409.4 $ 540.7 $ 535.8
Cash and cash equivalents less total debt $ 238.8 $ 116.0 $ 100.3 $ (68.7) $ (311.8)
Stockholders' equity $ 1,048.3 $ 860.8 $ 769.7 $ 653.8 $ 588.8
Total capitalization
(1) $ 1,717.7 $ 1,559.6 $ 1,179.1 $ 1,194.5 $ 1,124.6
Long-term debt as a % of total capitalization (1) 36.6% 42.3% 29.5% 29.0% 44.0%
Total debt as a % of total capitalization (1) 39.0% 44.8% 34.7% 45.3% 47.6%
Book value per share at year end $ 8.37 $ 6.88 $ 5.87 $ 4.81 $ 4.36
Financial Ratios
Return on average stockholders' equity 21.5% 22.9% 33.2% 11.8% 35.3%
Return on average assets 8.9% 9.3% 12.3% 3.4% 11.3%
Annual inventory turnover 3.6 3.5 3.3 2.9 2.7
Other Data
Adjusted EBITDA (2) $ 462.3 $ 421.3 $ 494.6 $ 285.1 $ 473.7
Dividends declared per share $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.25
Capital expenditures $ 81.0 $ 85.6 $ 45.3 $ 91.0 $ 170.7
Number of retail locations at year end:
U.S. RadioShack company-operated stores 4,476 4,453 4,447 4,467 4,972
Kiosks 562 688 739 772 777
Mexico RadioShack company-operated stores 204 200 -- -- --
Dealer and other outlets 1,321 1,411 1,484 1,596 1,711
Total 6,563 6,752 6,670 6,835 7,460
Average square footage per U.S. RadioShack
company-operated store
2,504
2,505
2,527
2,496
2,489
Comparable store sales increase (decrease) (3) 1.3% (0.6%) (8.2%) (5.6%) 0.9%
Shares outstanding 125.2 125.1 131.1 135.8 135.0
This table should be read in conjunction with MD&A and the Consolidated Financial Statements and related Notes.