AutoNation 2001 Annual Report Download - page 84

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FIRST SECOND THIRD FOURTH
QUARTER QUARTER QUARTER QUARTER
-------- -------- -------- --------
Revenue(2).......................................... 2001 $4,887.6 $4,945.0 $5,010.8 $5,145.9
2000 $5,232.0 $5,336.8 $5,330.9 $4,699.3
Operating income(4)................................. 2001 $ 107.0 $ 148.4 $ 140.2 $ 44.4
2000 $ 115.5 $ 152.4 $ 149.5 $ 107.6
Income from continuing operations................... 2001 $ 59.9 $ 86.3 $ 79.2 $ 19.6
2000 $ 64.7 $ 96.6 $ 93.1 $ 73.7
Basic earnings per share from continuing
operations(1)(3) 2001 $ .17 $ .26 $ .24 $ .06
2000 $ .18 $ .27 $ .26 $ .21
Diluted earnings per share from continuing
operations(1)(3).................................. 2001 $ .17 $ .26 $ .24 $ .06
2000 $ .18 $ .27 $ .26 $ .21
Net income(3)(5).................................... 2001 $ 59.9 $ 86.3 $ 79.2 $ 6.9
2000 $ 62.3 $ 100.8 $ 93.1 $ 73.7
---------------
(1) Quarterly basic and diluted earnings per share from continuing operations
may not equal total earnings per share for the year as reported in the
Consolidated Income Statements due to the effect of the calculation of
weighted average common stock equivalents on a quarterly basis.
(2) Fourth quarter 2001 revenue was positively impacted by the introduction of
significant manufacturer incentives which resulted in record fourth quarter
revenue.
(3) Fourth quarter 2001 earnings per share and net income were impacted by the
write-down of outstanding auto loans and related assets associated with the
Company's exit of the auto loan underwriting business.
(4) Floorplan interest expense, which was previously classified as interest
expense below operating income, is now presented as a component of cost of
operations.
(5) Fourth quarter 2001 net income was impacted by an after-tax charge of $12.7
million included in Income from Discontinued Operations to reflect the
Company's assumption of certain obligations with respect to ANC.
The following table sets forth, for the periods indicated, the high and low
prices per share of the Company's Common Stock as reported by the New York Stock
Exchange.
HIGH LOW
------ -----
2001
Fourth Quarter.............................................. $13.07 $8.53
Third Quarter............................................... $12.24 $7.75
Second Quarter.............................................. $12.59 $8.61
First Quarter............................................... $ 9.24 $4.94
2000
Fourth Quarter.............................................. $ 7.19 $4.63
Third Quarter............................................... $ 7.31 $5.63
Second Quarter.............................................. $10.75 $7.00
First Quarter............................................... $ 9.31 $6.13
On June 30, 2000, the Company completed the tax-free spin-off to its
stockholders of all of the capital stock of ANC Rental. The spin-off was
completed by issuing to each of the Company's stockholders of record as of June
16, 2000 one share of ANC Rental common stock for each eight shares of
AutoNation common stock held by such stockholder. The stock prices presented
above reflect historical stock prices during all periods presented and have not
been adjusted to give retroactive effect to the distribution of ANC Rental
common stock to the Company's stockholders.