Radio Shack 2010 Annual Report Download - page 52

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42
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Income
Year Ended December 31,
2010 2009 2008
% of % of % of
(In millions, except per share amounts) Dollars Revenues Dollars Revenues Dollars Revenues
Net sales and operating revenues $ 4,472.7 100.0%
$ 4,276.0 100.0%
$ 4,224.5 100.0%
Cost of products sold (includes
depreciation amounts of
$7.7 million, $9.2 million and
$11.2 million, respectively)
2,462.1
55.0
2,313.5
54.1
2,301.8
54.5
Gross profit 2,010.6 45.0 1,962.5 45.9 1,922.7 45.5
Operating expenses:
Selling, general and administrative 1,554.7 34.8 1,507.9 35.3 1,509.8 35.7
Depreciation and amortization 76.5 1.7 83.7 2.0 87.9 2.1
Impairment of long-lived assets 4.0 0.1 1.5 -- 2.8 0.1
Total operating expenses 1,635.2 36.6 1,593.1 37.3 1,600.5 37.9
Operating income 375.4 8.4 369.4 8.6 322.2 7.6
Interest income 2.6 -- 4.8 0.1 14.6 0.3
Interest expense (41.9)
(0.9) (44.1) (1.0) (34.9) (0.8)
Other loss -- -- (1.6) -- (2.4) --
Income before income taxes 336.1 7.5 328.5 7.7 299.5 7.1
Income tax expense 130.0 2.9 123.5 2.9 110.1 2.6
Net income $ 206.1 4.6%
$ 205.0 4.8%
$ 189.4 4.5%
Net income per share:
Basic $ 1.71
$ 1.63
$ 1.47
Diluted: $ 1.68
$ 1.63
$ 1.47
Shares used in computing net income
per share:
Basic 120.5 125.4 129.0
Diluted 122.7 126.1 129.1
The accompanying notes are an integral part of these consolidated financial statements.