Rayovac 2006 Annual Report Download - page 33

SPECTRUM BRANDS | 2006 ANNUAL REPORT 21
ITEM 6. SELECTED FINANCIAL DATA
The following selected historical fi nancial data is derived from our audited consolidated fi nancial statements. Only the most recent
three fi scal years’ audited statements are included elsewhere in this Annual Report on Form 10-K. As of October 1, 2005, we began report-
ing the results of operations of Nu-Gro Pro and Tech as discontinued operations. Therefore, the presentation of all historical continuing
operations has been changed to exclude Nu-Gro Pro and Tech. The following selected fi nancial data should be read in conjunction with our
consolidated fi nancial statements and notes thereto and the information contained in “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” included elsewhere herein.
Fiscal Year Ended September 30,
(in millions, except per share data) 2006(1) 2005(2) 2004(3) 2003(4) 2002(5)
Statement of Operations Data:
Net sales $2,551.8 $2,307.2 $1,417.2 $ 922.1 $572.7
Gross profi t 953.2 869.5 606.1 351.5 237.4
Operating (loss) income(6) (283.2) 196.1 156.2 59.6 63.0
(Loss) income from continuing operations before income taxes (456.1) 62.9 90.5 23.0 45.7
(Loss) income from discontinued operations, net of tax (5.5) 5.5 (0.4) – –
Net (loss) income(7) (434.0) 46.8 55.8 15.5 29.2
Restructuring and related charges—cost of goods sold $ 22.5 $ 10.5 $ (0.8) $ 21.1 $ 1.2
Restructuring and related charges—operating expenses 33.6 15.8 12.2 11.5 –
Other (income) expense, net(8) (4.1) (0.9) – (0.6) 1.3
Interest expense $ 177.0 $ 134.1 $ 65.7 $ 37.2 $ 16.0
Per Share Data:
Net (loss) income per common share:
Basic $ (8.77) $ 1.07 $ 1.67 $ 0.49 $ 0.92
Diluted (8.77) 1.03 1.61 0.48 0.90
Average shares outstanding:
Basic 49.5 43.7 33.4 31.8 31.8
Diluted 49.5 45.6 34.6 32.6 32.4
Cash Flow and Related Data:
Net cash provided by operating activities $ 44.5 $ 216.6 $ 96.1 $ 76.2 $ 66.8
Capital expenditures(9) 60.4 62.8 26.9 26.1 15.6
Depreciation and amortization (excluding amortization
of debt issuance costs)(9) 87.5 68.6 40.6 35.0 20.3
Balance Sheet Data (at fi scal year end):
Cash and cash equivalents $ 28.4 $ 29.9 $ 14.0 $ 105.6 $ 7.6
Working capital(10) 397.2 490.6 251.9 269.8 140.5
Total assets 3,549.3 4,022.1 1,634.2 1,543.1 518.6
Total long-term debt, net of current maturities 2,234.5 2,268.0 806.0 870.5 188.5
Total debt 2,277.2 2,307.3 829.9 943.4 201.9
Total shareholders’ equity 452.2 842.7 316.0 202.0 174.8
(1) Fiscal 2006 includes restructuring and related charges—cost of goods sold of $22.5 million, and restructuring and related charges—operating expenses of $33.6 million.
See Note 16, Restructuring and Related Charges, of Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K for further discussion.
(2) Fiscal 2005 selected fi nancial data was impacted by two signifi cant acquisitions completed during the fi scal year. The United acquisition was completed on February 7, 2005,
and the Tetra acquisition was completed on April 29, 2005. See further discussion of these acquisitions in Item 1: Business, and in Note 17, Acquisitions, of Notes to
Consolidated Financial Statements included in this Annual Report on Form 10-K. Fiscal 2005 includes restructuring and related charges—cost of goods sold of $10.5 million,
and restructuring and related charges—operating expenses of $15.8 million. See Note 16, Restructuring and Related Charges, of Notes to Consolidated Financial Statements
included in this Annual Report on Form 10-K for further discussion.
2006 Form 10-K Annual Report
Spectrum Brands, Inc.