Barnes and Noble 2002 Annual Report Download - page 25

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Fiscal Year 2002 2001 2000
(Thousands of dollars, except per share data)
Sales $ 5,269,335 4,870,390 4,375,804
Cost of sales and occupancy 3,855,842 3,560,038 3,169,724
Gross profit 1,413,493 1,310,352 1,206,080
Selling and administrative expenses 965,135 904,280 812,992
Legal settlement expense -- 4,500 --
Depreciation and amortization 148,691 147,826 144,760
Pre-opening expenses 10,227 7,959 7,669
Impairment charge 25,328 -- 106,833
Operating profit 264,112 245,787 133,826
Interest (net of interest income of $3,499, $1,319
and $939, respectively) and amortization
of deferred financing fees ( 21,506 ) ( 36,334 ) ( 53,541 )
Equity in net loss of Barnes & Noble.com ( 26,795 ) ( 88,378 ) ( 103,936 )
Other expense ( 16,498 ) ( 11,730 ) (9,346 )
Earnings (loss) before taxes and minority interest 199,313 109,345 ( 32,997 )
Income taxes 80,223 45,378 18,969
Earnings (loss) before minority interest 119,090 63,967 ( 51,966 )
Minority interest ( 19,142 ) -- --
Net earnings (loss) $ 99,948 63,967 ( 51,966 )
Earnings (loss) per common share
Basic $ 1.51 0.96 ( 0.81 )
Diluted $ 1.39 0.94 ( 0.81 )
Weighted average common shares outstanding
Basic 66,362,000 66,393,000 64,341,000
Diluted 77,680,000 77,839,000 64,341,000
[CONSOLIDATED STATEMENTS OF OPERATIONS ]
24
2002 Annual ReportBarnes & Noble, Inc.
See accompanying notes to consolidated financial statements.