Restoration Hardware 2015 Annual Report Download - page 66

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63
RESTORATION HARDWARE HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share and per share amounts)
Year Ended
January 30, January 31, February 1,
2016 2015 2014
N
et revenues ...................................................................................................... $ 2,109,006 $ 1,867,422 $ 1,550,961
Cost of goods sold ............................................................................................. 1,356,314 1,176,648 994,081
Gross profit .................................................................................................. 752,692 690,774 556,880
Selling, general and administrative expenses .................................................... 567,131 525,048 502,029
Income from operations ............................................................................... 185,561 165,726 54,851
Interest expense—net ........................................................................................ 35,677 17,551 5,733
Income before income taxes ........................................................................ 149,884 148,175 49,118
Income tax expense ........................................................................................... 58,781 57,173 30,923
Net income ................................................................................................... $ 91,103 $ 91,002 $ 18,195
Weighted-average shares used in computing basic net income per share ......... 40,190,448 39,457,491 38,671,564
Basic net income per share ................................................................................ $ 2.27 $ 2.31 $ 0.47
Weighted-average shares used in computing diluted net income per share ...... 42,256,559 41,378,210 40,416,630
Diluted net income per share............................................................................. $ 2.16 $ 2.20 $ 0.45
The accompanying notes are an integral part of these Consolidated Financial Statements.