AutoZone 2009 Annual Report Download - page 103
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Consolidated Statements of Income
(in thousands, except per share data)
August 29,
2009
(52 Weeks)
August 30,
2008
(53 Weeks)
August 25,
2007
(52 Weeks)
Year Ended
Net sales ................................................................................................. $6,816,824 $6,522,706 $6,169,804
Cost of sales, including warehouse and delivery expenses .................. 3,400,375 3,254,645 3,105,554
Gross profit ............................................................................................ 3,416,449 3,268,061 3,064,250
Operating, selling, general and administrative expenses...................... 2,240,387 2,143,927 2,008,984
Operating profit ..................................................................................... 1,176,062 1,124,134 1,055,266
Interest expense, net .............................................................................. 142,316 116,745 119,116
Income before income taxes.................................................................. 1,033,746 1,007,389 936,150
Income taxes .......................................................................................... 376,697 365,783 340,478
Net income ............................................................................................. $ 657,049 $ 641,606 $ 595,672
Weighted average shares for basic earnings per share ......................... 55,282 63,295 69,101
Effect of dilutive stock equivalents....................................................... 710 580 743
Adjusted weighted average shares for diluted earnings per share ....... 55,992 63,875 69,844
Basic earnings per share........................................................................ $ 11.89 $ 10.14 $ 8.62
Diluted earnings per share..................................................................... $ 11.73 $ 10.04 $ 8.53
See Notes to Consolidated Financial Statements.
39
10-K