Radio Shack 2011 Annual Report Download - page 48

Download and view the complete annual report

Please find page 48 of the 2011 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 92

  • 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

40
RADIOSHACK CORPORATION AND SUBSIDIARIES
Consolidated Statements of Income
Year Ended December 31,
2011 2010 2009
% of % of % of
(In millions, except per share amounts) Dollars Revenues Dollars Revenues Dollars Revenues
Net sales and operating revenues $ 4,378.0 100.0%
$ 4,265.8 100.0%
$ 4,073.6 100.0%
Cost of products sold (includes
depreciation amounts of
$7.5 million, $7.7 million and
$9.2 million, respectively)
2,567.2
58.6
2,352.1
55.1
2,200.5
54.0
Gross profit 1,810.8 41.4 1,913.7 44.9 1,873.1 46.0
Operating expenses:
Selling, general and administrative 1,577.4 36.0 1,483.8 34.8 1,435.0 35.2
Depreciation and amortization 75.2 1.8 75.7 1.8 81.1 2.0
Impairment of long-lived assets 3.1 0.1 4.0 0.1 1.5 0.1
Total operating expenses 1,655.7 37.9 1,563.5 36.7 1,517.6 37.3
Operating income 155.1 3.5 350.2 8.2 355.5 8.7
Interest income 3.1 0.1 2.6 -- 4.8 0.1
Interest expense (46.8)
(1.1) (41.9) (1.0) (44.1) (1.1)
Other loss (4.1)
(0.1) -- -- (1.6) --
Income from continuing operations
before income taxes
107.3
2.4
310.9
7.2
314.6
7.7
Income tax expense 40.2 0.9 120.2 2.8 118.1 2.9
Income from continuing operations 67.1 1.5%
190.7 4.4%
196.5 4.8%
Discontinued operations, net of
income taxes
5.1
15.4
8.5
Net income $ 72.2 $ 206.1 $ 205.0
Basic net income per share:
Income per share from continuing
operations
$ 0.65
$ 1.58
$ 1.56
Income per share from discontinued
operations
0.05
0.13
0.07
Net income per share (basic) $ 0.70
$ 1.71
$ 1.63
Diluted net income per share:
Income per share from continuing
operations
$ 0.65
$ 1.55
$ 1.56
Income per share from discontinued
operations
0.05
0.13
0.07
Net income per share (diluted) $ 0.70
$ 1.68
$ 1.63
Shares used in computing net income
per share:
Basic 102.5 120.5 125.4
Diluted 103.3 122.7 126.1
The accompanying notes are an integral part of these consolidated financial statements.