Callaway 1997 Annual Report Download - page 6

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7
(in thousands, except per share data) Year ended December 31,
1 9 9 7 1 9 9 6 1 9 9 5 1 9 9 4 1 9 9 3
Statement of Income Data:
Net sales $842,927 $678,512 $553,287 $448,729 $254,645
Cost of goods sold 400,127 317,353 270,125 208,906 115,458
Gross profit 442,800 361,159 283,162 239,823 139,187
Selling, general and administrative expenses 191,313 155,177 120,201 106,913 67,118
Research and development costs 30,298 16,154 8,577 6,380 3,653
Litigation settlement 12,000
Income from operations 209,189 189,828 154,384 126,530 68,416
Other income, net 4,576 5,767 4,017 2,875 1,184
Income before income taxes and cumulative
effect of accounting change 213,765 195,595 158,401 129,405 69,600
Provision for income taxes 81,061 73,258 60,665 51,383 28,396
Income before cumulative effect
of accounting change 132,704 122,337 97,736 78,022 41,204
Cumulative effect of accounting change 1,658
Net income $132,704 $122,337 $97,736 $78,022 $42,862
Earnings per Common Share (Note 1):
Income before cumulative effect
of accounting change
Basic $1.94 $1.83 $1.47 $1.14 $0.65
Diluted $1.85 $1.73 $1.40 $1.07 $0.60
Cumulative effect of accounting change
Basic $0.03
Diluted $0.02
Net income
Basic $1.94 $1.83 $1.47 $1.14 $0.68
Diluted $1.85 $1.73 $1.40 $1.07 $0.62
Dividends paid per share $0.28 $0.24 $0.20 $0.10 $0.03
(in thousands) December 31,
1 9 9 7 1 9 9 6 1 9 9 5 1 9 9 4 1 9 9 3
Balance Sheet Data:
Cash and cash equivalents $26,204 $108,457 $59,157 $54,356 $48,996
Working capital $209,402 $250,461 $146,871 $130,792 $83,683
Total assets $561,714 $428,428 $289,975 $243,622 $144,360
Long-term liabilities $7,905 $5,109 $2,207 $610
Total shareholders’ equity $481,425 $362,267 $224,934 $186,414 $116,577
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