Circuit City 1997 Annual Report Download - page 20

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GLOBAL DIRECTMAIL CORP
STATEMENTS OF CONSOLIDATED SHAREHOLDERS' EQUITY
FOR THE YEARS ENDED DECEMBER 31, 1995, 1996 AND 1997
(IN THOUSANDS)
Notes
Receivable
Additional Cumulative from
Common Paid-in Retained Translation Related
SHARES CAPITAL EARNINGS ADJUSTMENT PARTIES
------ --------- -------- ----------- ---------
BALANCES, JANUARY 1, 1995 $ 24,934 $ 14,539 $ 39,591 $ 315 $ (10,273)
Differences arising from translation of
foreign statements - - - 165 -
Dividends paid - - (2,000) - -
Other (30) - 30 - -
Effect of exchange of common
shares, issuance of notes and collection of
notes receivable (24,620) (14,528) (58,653) - 10,273
Initial public offering of common shares 83 134,329 - - -
Issuance of common shares for the acquisition
of TigerDirect, Inc. 2 4,130 - - -
Net income - - 35,720 - -
-------- --------- --------- ------- ---------
BALANCES, DECEMBER 31, 1995 369 138,470 14,688 480 -
Differences arising from translation of
foreign statements - - - 1,030 -
Net proceeds from sale of common shares 10 29,886 - - -
Net income - - 43,704 - -
-------- --------- --------- ------- ----------
BALANCES, DECEMBER 31, 1996 379 168,356 58,392 1,510 -
Differences arising from translation of
foreign statements - - - (3,640) -
Issuance of 375,000 common shares as partial consideration
for the acquisition of the net assets of Infotel, Inc. 3 8,387 - - -
Net income - - 38,812 - -
-------- --------- --------- ---------- --------
BALANCES, DECEMBER 31, 1997 $ 382 $ 176,743 $ 97,204 $ (2,130) $ -
======== ========= ========= ========== ========
See notes to consolidated financial statements.