AutoZone 2004 Annual Report Download - page 27

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28’04฀Annual฀Report
Consolidated฀Statements฀of฀Income
฀Year฀Ended
(in฀thousands,฀except฀per฀share฀data)
August฀28,฀
2004฀
(52฀Weeks) ฀
August฀30,฀
2003฀
(52฀Weeks) ฀
August฀31,฀
2002฀
(53฀Weeks)
Net฀sales $฀5,637,025 $฀5,457,123 $฀5,325,510
Cost฀of฀sales,฀including฀warehouse฀and฀delivery฀expenses 2,880,446 2,942,114 2,950,123
Operating,฀selling,฀general฀and฀administrative฀expenses 1,757,873฀ 1,597,212฀ 1,604,379
Operating฀profit 998,706 917,797 771,008
Interest฀expense,฀net 92,804฀ 84,790฀ 79,860
Income฀before฀income฀taxes 905,902 833,007 691,148
Income฀taxes 339,700฀ 315,403฀ 263,000
Net฀income $฀ 566,202฀ $฀ 517,604฀ $฀ 428,148
Weighted฀average฀shares฀for฀basic฀earnings฀per฀share 84,993 94,906 104,446
Effect฀of฀dilutive฀stock฀equivalents 1,357฀ 2,057฀ 2,665
Adjusted฀weighted฀average฀shares฀for฀diluted฀earnings฀per฀share 86,350฀ 96,963฀ 107,111
Basic฀earnings฀per฀share $฀ 6.66฀ $฀ 5.45฀ $฀ 4.10
Diluted฀earnings฀per฀share $฀ 6.56฀ $฀ 5.34฀ $฀ 4.00
See฀Notes฀to฀Consolidated฀Financial฀Statements.