Circuit City 1998 Annual Report Download - page 25

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GLOBAL DIRECTMAIL CORP
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
FOR THE YEARS ENDED DECEMBER 31, 1996, 1997 AND 1998
(IN THOUSANDS)
COMMON STOCK
-------------------- ACCUMULATED
ADDITIONAL OTHER TREASURY
NUMBER OF PAID-IN RETAINED COMPREHENSIVE STOCK
SHARES AMOUNT CAPITAL EARNINGS INCOME AT COST
--------- ------ ----------- ------------- ------------- --------
BALANCES, JANUARY 1, 1996 36,857 $ 369 $ 138,470 $ 14,688 $ 480
Change in cumulative translation adjustment 1,030
Net proceeds from sale of common shares 1,000 10 29,886
Net income 43,704
--------- --------- --------- --------- --------- --------
BALANCES, DECEMBER 31, 1996 37,857 379 168,356 58,392 1,510
Change in cumulative translation adjustment (3,640)
Issuance of shares as partial consideration
for the acquisition of the net assets of
Infotel, Inc. 375 3 8,387
Net income 38,812
--------- --------- --------- --------- --------- --------
BALANCES, DECEMBER 31, 1997 38,232 382 176,743 97,204 (2,130)
Change in cumulative translation adjustment 1,782
Purchase of treasury shares (2,104) $ (28,604)
Net income 41,252
--------- --------- --------- --------- --------- ---------
BALANCES, DECEMBER 31, 1998 36,128 $ 382 $ 176,743 $138,456 $ (348) $ (28,604)
========= ========= ========= ========= ========= ==========
See notes to consolidated financial statements.