Sally Beauty Supply 2011 Annual Report Download - page 61
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Results of Operations
The following table shows the condensed results of operations of our business for the fiscal years ended
September 30, 2011, 2010 and 2009 (in millions):
Fiscal Year Ended
September 30,
2011 2010 2009
Net sales ................................ $3,269.1 $2,916.1 $2,636.6
Cost of products sold and distribution expenses .... 1,674.5 1,511.7 1,393.3
Gross profit ............................. 1,594.6 1,404.4 1,243.3
Total other operating costs and expenses ......... 1,146.1 1,063.5 946.5
Operating earnings ....................... 448.5 340.9 296.8
Interest expense ........................... 112.6 113.0 132.0
Earnings before provision for income taxes ...... 335.9 227.9 164.8
Provision for income taxes .................... 122.2 84.1 65.7
Net earnings ............................ $ 213.7 $ 143.8 $ 99.1
The following table shows the condensed results of operations of our business for the fiscal years ended
September 30, 2011, 2010 and 2009, expressed as a percentage of net sales for the respective periods:
Fiscal Year Ended
September 30,
2011 2010 2009
Net sales ....................................... 100.0% 100.0% 100.0%
Cost of products sold and distribution expenses ........... 51.2% 51.8% 52.8%
Gross profit ................................... 48.8% 48.2% 47.2%
Total other costs and expenses ....................... 35.1% 36.5% 35.9%
Operating earnings .............................. 13.7% 11.7% 11.3%
Interest expense ................................. 3.4% 3.9% 5.0%
Earnings before provision for income taxes ............ 10.3% 7.8% 6.3%
Provision for income taxes .......................... 3.8% 2.9% 2.5%
Net earnings .................................. 6.5% 4.9% 3.8%
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