AmerisourceBergen 2005 Annual Report Download - page 31

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AmerisourceBergen Corporation 2005
-29-
(in thousands, except per share data)
Fiscal year ended September 30, 2005 2004 2003
Operating revenue $50,012,598 $48,812,452 $45,463,400
Bulk deliveries to customer warehouses 4,564,723 4,308,339 4,120,639
Total revenue 54,577,321 53,120,791 49,584,039
Cost of goods sold 52,597,137 50,954,361 47,358,426
Gross profit 1,980,184 2,166,430 2,225,613
Operating expenses:
Distribution, selling and administrative 1,234,057 1,184,529 1,261,357
Depreciation 70,947 63,464 62,165
Amortization 10,252 9,961 7,032
Facility consolidations, employee severance and other 22,723 7,517 8,930
Impairment charge 5,259 — —
Operating income 636,946 900,959 886,129
Other (income) loss (990) (6,236) 8,015
Interest expense, net 57,223 112,704 144,748
Loss on early retirement of debt 111,888 23,592 4,220
Incomefrom continuing operations before income taxes and cumulative
effect of change in accounting 468,825 770,899 729,146
Incometaxes 176,903 296,025 286,081
Incomefrom continuing operations before cumulative effect of change in accounting 291,922 474,874 443,065
Loss from discontinued operations, net of tax (Note 3) 17,105 6,484 1,836
Cumulative effect ofchangein accounting, net of tax of $6,341 (Note 1) 10,172 — —
Net income $264,645 $ 468,390 $ 441,229
Earnings per share:
Basic earnings per share:
Continuing operations $2.76 $4.25 $ 4.05
Discontinued operations(0.16) (0.06) (0.02)
Cumulative effect of change in accounting (0.10) — —
Rounding—0.01 —
Net income $2.50 $4.20 $ 4.03
Diluted earnings per share:
Continuing operations $2.73 $4.12 $3.91
Discontinued operations (0.16) (0.06) (0.02)
Cumulative effect of change in accounting (0.09) — —
Net income $2.48 $4.06 $3.89
Weighted average common shares outstanding:
Basic 105,667 111,617 109,513
Diluted 107,770 117,779 115,954
See notes to consolidated financial statements.
Consolidated Statements of Operations