Barnes and Noble 2000 Annual Report Download - page 44

Download and view the complete annual report

Please find page 44 of the 2000 Barnes and Noble annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

Fiscal Year 2000 1999 1998
(Thousands of dollars, except per share data)
Sales $ 4,375,804 3,486,043 3,005,608
Cost of sales and occupancy 3,169,724 2,483,729 2,142,717
Gross profit 1,206,080 1,002,314 862,891
Selling and administrative expenses 812,992 651,099 580,609
Depreciation and amortization 144,760 112,304 88,345
Pre-opening expenses 7,669 6,801 8,795
Impairment charge 106,833 -- --
Operating profit 133,826 232,110 185,142
Interest(net of interest income of $939, $1,449
and $976, respectively) and amortization
of deferred financing fees ( 53,541) ( 23,765 ) ( 24,412 )
Equity in net loss of Barnes & Noble.com ( 103,936 ) ( 42,047 ) ( 71,334 )
Gain on formation of Barnes & Noble.com -- 25,000 63,759
Other income (expense) ( 9,346 ) 27,337 3,414
Earnings (loss) before provision for income
taxes and cumulative effect of a change
in accounting principle ( 32,997 ) 218,635 156,569
Provision for income taxes 18,969 89,637 64,193
Earnings (loss) before cumulative effect
of a change in accounting principle ( 51,966 ) 128,998 92,376
Cumulative effect of a change in accounting principle,
net of tax benefits of $3,125 -- ( 4,500 ) --
Net earnings (loss) $ ( 51,966 ) 124,498 92,376
Earnings (loss) per common share
Basic
Earnings (loss) before cumulative effect
of a change in accounting principle $ ( 0.81 ) 1.87 1.35
Cumulative effect of a change in
accounting principle, net of tax benefits $ -- ( 0.07 ) --
Net earnings (loss) $ ( 0.81 ) 1.80 1.35
Diluted
Earnings (loss) before cumulative effect
of a change in accounting principle $ ( 0.81 ) 1.81 1.29
Cumulative effect of a change in
accounting principle, net of tax benefits $ -- ( 0.06 ) --
Net earnings (loss) $ ( 0.81 ) 1.75 1.29
Weighted average common shares outstanding
Basic 64,341,000 69,005,000 68,435,000
Diluted 64,341,000 71,354,000 71,677,000
CONSOLIDATED STATEMENTS OF OPERATIONS
See accompanying notes to consolidated financial statements.