Cabela's 2004 Annual Report Download - page 48

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The following table sets forth unaudited Ñnancial and operating data in each quarter during Ñscal
years 2004 and 2003. This quarterly information has been prepared on a basis consistent with our audited
Ñnancial statements and includes all normal recurring adjustments that we consider necessary for a fair
presentation of the information shown. This information should be read in conjunction with our selected
Ñnancial data and audited consolidated Ñnancial statements and the notes thereto appearing elsewhere in
this report. Our quarterly operating results may Öuctuate signiÑcantly as a result of these and a variety of
other factors, and operating results for any quarter are not necessarily indicative of results for a full Ñscal
year. See ""Ì Factors AÅecting Future Results'' and ""Ì InÖuences on Period Comparability''.
Unaudited
2004 (52 Weeks) 2003 (53 Weeks)
First Second Third Fourth First Second Third Fourth
Quarter Quarter(2) Quarter Quarter Quarter(1) Quarter Quarter Quarter
(Dollars in thousands except EPS)
Net revenue ÏÏÏÏÏÏÏ $313,917 $279,139 $383,810 $579,108 $262,303 $250,846 $331,209 $548,065
Gross proÑt ÏÏÏÏÏÏÏÏ 125,242 106,853 156,421 241,793 103,331 97,788 132,259 231,517
Operating income ÏÏÏ 12,703 3,232 25,495 55,785 6,315 5,342 17,559 55,715
Net income ÏÏÏÏÏÏÏÏ 8,046 1,987 16,503 38,460 3,077 3,090 10,237 34,987
Earnings per share Ì
basic(3)ÏÏÏÏÏÏÏÏÏ $ 0.14 $ 0.03 $ 0.26 $ 0.60 $ 0.06 $ 0.06 $ 0.20 $ 0.62
Earnings per share Ì
diluted(3) ÏÏÏÏÏÏÏ $ 0.14 $ 0.03 $ 0.25 $ 0.58 $ 0.06 $ 0.06 $ 0.19 $ 0.60
As a percentage of
full year results:
RevenueÏÏÏÏÏÏÏÏÏ 20.2% 17.9% 24.7% 37.2% 18.8% 18.0% 23.8% 39.4%
Gross proÑt ÏÏÏÏÏÏ 19.9% 17.0% 24.8% 38.3% 18.3% 17.3% 23.4% 41.0%
Operating income 13.1% 3.3% 26.2% 57.4% 7.4% 6.3% 20.7% 65.6%
Net income ÏÏÏÏÏÏ 12.4% 3.1% 25.4% 59.1% 6.0% 6.0% 19.9% 68.1%
(1) We recognized an oÅset to revenue in the Ñrst Ñscal quarter of Ñscal 2003 of $1.3 million as a result
of the completion of a securitization transaction in that quarter. See ""Ì InÖuences on Period
Comparability.''
(2) We recognized an oÅset to revenue in the second Ñscal quarter of Ñscal 2004 as a result of the
completion of a securitization transaction in that quarter.
(3) Basic and diluted earnings per share are computed independently for each of the quarters presented.
Due to the recapitalization transaction in 2003 and our initial public oÅering in the second Ñscal
quarter of 2004, the sum of the quarterly earnings per share may not total the amounts for the
applicable periods.
36