Circuit City 1999 Annual Report Download - page 20

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See notes to consolidated financial statements.
SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF NET INCOME
FOR THE YEARS ENDED DECEMBER 31, 1999, 1998 AND 1997
(IN THOUSANDS, EXCEPT PER COMMON SHARE AMOUNTS)
1999 1998 1997
---- ---- ----
NET SALES $ 1,754,472 $ 1,435,654 $ 1,145,388
COST OF SALES 1,439,947 1,147,098 879,846
---------- ----------- -------------
GROSS PROFIT 314,525 288,556 265,542
SELLING, GENERAL AND ADMINISTRATIVE
EXPENSES 254,690 224,208 206,280
---------- ----------- -------------
INCOME FROM OPERATIONS 59,835 64,348 59,262
INTEREST AND OTHER INCOME (1,153) (3,225) (3,261)
INTEREST EXPENSE 465 497 425
---------- ----------- ------------
INCOME BEFORE INCOME TAXES 60,523 67,076 62,098
PROVISION FOR INCOME TAXES 24,511 25,824 23,286
---------- ----------- ------------
NET INCOME $ 36,012 $ 41,252 $ 38,812
========== =========== ============
NET INCOME PER COMMON SHARE:
BASIC $ 1.01 $ 1.11 $ 1.02
=========== =========== =============
DILUTED $ 1.01 $ 1.11 $ 1.02
=========== =========== =============