Radio Shack 2011 Annual Report Download - page 25

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17
ITEM 6. SELECTED FINANCIAL DATA (UNAUDITED).
RADIOSHACK CORPORATION AND SUBSIDIARIES
(Dollars and shares in millions, except per share amounts,
ratios, locations and square footage)
Year Ended December 31,
2011 2010 2009 2008 2007
Statements of Income Data
Net sales and operating revenues $ 4,378.0 $ 4,265.8 $ 4,073.6 $ 4,034.8 $ 4,075.4
Operating income $ 155.1 $ 350.2 $ 355.5 $ 311.1 $ 366.4
Income from continuing operations $ 67.1 $ 190.7 $ 196.5 $ 183.2 $ 227.3
Net income $ 72.2 $ 206.1 $ 205.0 $ 189.4 $ 236.8
Basic income per share from continuing operations $ 0.65 $ 1.58 $ 1.56 $ 1.42 $ 1.69
Basic net income per share $ 0.70 $ 1.71 $ 1.63 $ 1.47 $ 1.76
Diluted income per share from continuing operations $ 0.65 $ 1.55 $ 1.56 $ 1.42 $ 1.67
Diluted net income per share $ 0.70 $ 1.68 $ 1.63 $ 1.47 $ 1.74
Shares used in computing net income per share:
Basic 102.5 120.5 125.4 129.0 134.6
Diluted 103.3 122.7 126.1 129.1 135.9
Gross profit as a percent of sales 41.4% 44.9% 46.0% 45.4% 47.5%
SG&A expense as a percent of sales 36.0% 34.8% 35.2% 35.6% 36.0%
Operating income as a percent of sales 3.5% 8.2% 8.7% 7.7% 9.0%
Balance Sheet Data
Inventories $ 744.4 $ 723.7 $ 670.6 $ 636.3 $ 705.4
Total assets $ 2,175.1 $ 2,175.4 $ 2,429.3 $ 2,254.0 $ 1,989.6
Working capital $ 1,149.2 $ 870.6 $ 1,361.2 $ 1,154.4 $ 818.8
Capital structure:
Current debt $ -- $ 308.0 $ -- $ -- $ --
Long-term debt $ 670.6 $ 331.8 $ 627.8 $ 659.5 $ 348.2
Total debt $ 670.6 $ 639.8 $ 627.8 $ 659.5 $ 348.2
Total debt less cash and cash equivalents $ 78.9 $ 70.4 $ (280.4) $ (155.3) $ (161.5)
Stockholders' equity $ 753.3 $ 842.5 $ 1,048.3 $ 860.8 $ 769.7
Total capitalization
(1)
$ 1,423.9 $ 1,482.3 $ 1,676.1 $ 1,520.3 $ 1,117.9
Long-term debt as a % of total capitalization
(1)
47.1% 22.4% 37.5% 43.4% 31.1%
Total debt as a % of total capitalization
(1)
47.1% 43.2% 37.5% 43.4% 31.1%
Book value per share at year end $ 7.59 $ 7.97 $ 8.37 $ 6.88 $ 5.87
Financial Ratios
Return on average stockholders' equity 8.8% 20.3% 21.5% 22.9% 33.2%
Return on average assets 3.5% 8.9% 8.9% 9.3% 12.3%
Annual inventory turnover
(2)
3.5 3.5 3.6 3.5 3.3
Other Data
Adjusted EBITDA from continuing operations
(3)
$ 237.8 $ 433.6 $ 445.8 $ 405.3 $ 474.2
Dividends declared per share $ 0.50 $ 0.25 $ 0.25 $ 0.25 $ 0.25
Capital expenditures $ 82.1 $ 80.1 $ 81.0 $ 85.6 $ 45.3
Number of retail locations at year end:
U.S. RadioShack company-operated stores 4,476 4,486 4,476 4,453 4,447
Target Mobile Centers 1,496 850 104 -- --
Mexico RadioShack company-operated stores 227 211 204 200 --
Dealer and other outlets 1,110 1,219 1,321 1,411 1,484
Discontinued kiosks -- 417 458 688 739
Total 7,309 7,183 6,563 6,752 6,670
Average square footage per U.S. RadioShack
company-operated store
2,473
2,482
2,504
2,505
2,527
Comparable store sales (decrease) increase
(4)
(2.2%) 4.1% 0.8% (0.9%) (8.3%)
Common shares outstanding 99.3 105.7 125.2 125.1 131.1
This table should be read in conjunction with our MD&A and the Consolidated Financial Statements and related Notes.