Barnes and Noble 2007 Annual Report Download - page 20

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CONSOLIDATED STATEMENTS OF OPERATIONS
FISCAL YEAR (In thousands, except per share data) 2007 2006 2005
Sales $ 5,410,828 5,261,254 5,103,004
Cost of sales and occupancy 3,770,007 3,622,962 3,535,837
Gross profi t 1,640,821 1,638,292 1,567,167
Selling and administrative expenses 1,250,089 1,201,673 1,131,448
Depreciation and amortization 172,210 170,338 172,957
Pre-opening expenses 10,387 12,897 10,938
Operating profi t 208,135 253,384 251,824
Interest income (expense) (net of interest expense of $2,410, $4,252 and
$8,428, respectively) and amortization of deferred fi nancing fees 7,135 1,537 (1,415)
Earnings before taxes and minority interest 215,270 254,921 250,409
Income taxes 76,917 102,606 102,042
Earnings before minority interest 138,353 152,315 148,367
Minority interest (2,554) (1,788) (1,686)
Net earnings $ 135,799 150,527 146,681
Earnings per common share
Basic $ 2.13 2.31 2.17
Diluted $ 2.03 2.17 2.03
Weighted average common shares outstanding
Basic 63,662 65,212 67,560
Diluted 67,050 69,226 72,150
See accompanying notes to consolidated fi nancial statements.
18 Barnes & Noble, Inc.