Audiovox 2005 Annual Report Download - page 24

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AS OF AND FOR THE YEARS ENDED NOVEMBER 30,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Consolidated Statement of Operations Data 2001(2) 2002 2003(3) 2004 2005(5)
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−− −−−−−−− −−−− −−−−−−− −−−− −−−−−−−
Net sales (1) $285,132 $361,087 $510,899 $563,653 $539,716
Operating income (loss) (1) 449 5,401 14,008 (1,356) (27,690)
Net in Net income (loss) from continuing operations (1) 2,865 929 8,027 64 (6,687)
Net income (loss) from discontinued operations (4) (10,063) (15,209) 3,212 77,136 (2,904)
Cumulative effect of a change in accounting for negative − 240 − − −
goodwill −−−−−−−−− −−−−−−−− −−−−−−−− −−−−−−−− −−−−−−−−
Net income (loss) $ (7,198) $(14,040) $11,239 $77,200 $ (9,591)
========= ========= ======== ======= =========
Net inc Net income (loss) per common share from continuing operations:
Basic $ 0.13 $ 0.04 $ 0.36 $ 0.00 $(0.30)
Diluted $ 0.13 $ 0.04 $ 0.36 $ 0.00 $(0.30)
Net income (loss) per common share:
Basic $ (0.33) $ (0.69) $ 0.51 $ 3.52 $(0.43)
Diluted $ (0.33) $ (0.69) $ 0.51 $ 3.45 $(0.43)
Consolidated Balance Sheet Data
Total assets $544,497 $555,365 $583,360 $543,338 $485,864
Working capital 284,166 292,687 304,354 362,018 340,488
Long−term obligations 10,040 18,250 29,639 18,598 18,425
Stockholders' equity 323,220 309,513 325,728 404,187 401,157
−−−−−−−−−−−
(1) Amounts exclude the financial results of discontinued operations
(see Note 2 of Notes to Consolidated Financial Statements).
(2) We previously restated our consolidated financial statements for
the fiscal year ended November 30, 2001. Please refer to our previously
filed Form 10−K/A for the year ended November 30, 2002 for details.
(3) 2003 amounts reflect the acquisition of Recoton (see Note 4 of Notes
to Consolidated Financial Statements).
(4) 2004 amount reflects the results of the divestiture of the Cellular
business and 2005 amount reflects the divestiture of Malaysia (see
Note 2 of Notes to Consolidated Financial Statements).
(5) 2005 amounts reflect the acquisition of Terk (see Note 4 of Notes to
Consolidated Financial Statements).
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