Supercuts 2005 Annual Report Download - page 62

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REGIS CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
(Dollars and shares in thousands, except per share amounts)
The accompanying notes are an integral part of the Consolidated Financial Statements.
61
Years Ended June 30,
2005
2004
2003
Revenues:
Service
$
1,466,336
$
1,271,232
$
1,117,562
Product
648,420
578,279
499,286
Royalties and fees
79,538
73,632
67,682
2,194,294
1,923,143
1,684,530
Operating expenses:
Cost of service
836,449
718,524
629,945
Cost of product
335,636
303,484
257,339
Site operating expenses
183,056
163,365
142,173
General and administrative
260,207
214,610
195,563
Rent
310,984
269,429
235,648
Depreciation and amortization
91,753
74,983
66,749
Goodwill impairment
38,319
—
—
Total operating expenses
2,056,404
1,744,395
1,527,417
Operating income
137,890
178,748
157,113
Other income (expense):
Interest
(24,385
)
(17,064
)
(21,394
)
Other, net
2,952
1,155
1,055
Income before income taxes
116,457
162,839
136,774
Income taxes
(51,826
)
(58,621
)
(51,219
)
Net income
$
64,631
$
104,218
$
85,555
Net income per share:
Basic
$
1.45
$
2.37
$
1.98
Diluted
$
1.39
$
2.26
$
1.89
Weighted average common and common equivalent shares
outstanding:
Basic
44,622
44,014
43,292
Diluted
46,380
46,145
45,229
Cash dividends declared per common share
$
0.16
$
0.14
$
0.12