Radio Shack 2009 Annual Report Download - page 54

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47
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Income
Year Ended December 31,
2009 2008 2007
% of % of % of
(In millions, except per share amounts) Dollars Revenues Dollars Revenues Dollars Revenues
Net sales and operating revenues $ 4,276.0 100.0% $ 4,224.5 100.0% $ 4,251.7 100.0%
Cost of products sold (includes depreciation
amounts of $9.2 million, $11.2 million
and $10.0 million, respectively)
2,313.5
54.1
2,301.8
54.5
2,225.9
52.4
Gross profit 1,962.5 45.9 1,922.7 45.5 2,025.8 47.6
Operating expenses:
Selling, general and administrative 1,507.9 35.3 1,509.8 35.7 1,538.5 36.2
Depreciation and amortization 83.7 2.0 87.9 2.1 102.7 2.4
Impairment of long-lived assets 1.5 -- 2.8 0.1 2.7 --
Total operating expenses 1,593.1 37.3 1,600.5 37.9 1,643.9 38.6
Operating income 369.4 8.6 322.2 7.6 381.9 9.0
Interest income 4.8 0.1 14.6 0.3 22.6 0.5
Interest expense (44.1) (1.0) (34.9) (0.8) (38.8) (0.9)
Other (loss) income (1.6) -- (2.4) -- 0.9 --
Income before income taxes 328.5 7.7 299.5 7.1 366.6 8.6
Income tax expense 123.5 2.9 110.1 2.6 129.8 3.0
Net income $ 205.0 4.8% $ 189.4 4.5% $ 236.8 5.6%
Net income per share:
Basic $ 1.63 $ 1.47 $ 1.76
Diluted: $ 1.63 $ 1.47 $ 1.74
Shares used in computing net income
per share:
Basic 125.4 129.0 134.6
Diluted 126.1 129.1 135.9
The accompanying notes are an integral part of these consolidated financial statements.