Circuit City 2002 Annual Report Download - page 29

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-------- ---------
TOTAL$437,904 $454,447
======== ========
See notes to consolidated financial statements.
SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2002, 2001 AND 2000
(IN THOUSANDS, EXCEPT PER COMMON SHARE AMOUNTS)
2002 2001 2000
---- ---- ----
Net sales$1,551,517 $1,546,975 $1,686,103
Cost of sales1,285,929 1,270,051 1,476,248
----------- ------------ -------------
Gross profit265,588 276,924 209,855
Selling, general and administrative expenses256,075 271,636 270,863
Restructuring and other charges17,294 2,758
----------- ------------ -------------
Income (loss) from operations(7,781) 2,530 (61,008)
----------- ------------ -------------
Interest and other income, net(427) (276) (106)
Interest expense1,653 1,764 4,352
----------- ------------ -------------
Income (loss) before income taxes(9,007) 1,042 (65,254)
Provision (benefit) for income taxes(1,039) 389 (24,483)
----------- ------------ -------------
Income (loss) before cumulative effect of change in accounting(7,968) 653 (40,771)
principle, net of tax
Cumulative effect of change in accounting principle, net of tax(50,971)
----------- ------------ -------------
Net income (loss)$(58,939) $653 $(40,771)
=========== ============ =============
Net income (loss) per common share, basic and diluted:
Income (loss) before cumulative effect of change in accounting
principle, net of tax$(.23) $.02 $(1.19)
Cumulative effect of change in accounting principle, net of tax(1.50)
----------- ------------ -------------
Net income (loss)$(1.73) $.02 $(1.19)
=========== ============ =============
See notes to consolidated financial statements.
SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2002, 2001 AND 2000
(IN THOUSANDS)
Accumulated
Common Stock Other
-------------------- Additional Comprehensive Treasury
Number of Paid-in Retained Income (Loss), Stock Comprehensive
Shares Amount Capital Earnings Net of Tax At Cost Income (Loss)
------------------------------------------------------------------------------------
Balances, January 1, 2000 35,238 $382 $176,743 $174,468 $(2,748) $(38,659)
Change in cumulative translation (3,914) $(3,914)
adjustment
Purchase of treasury shares (1,134) (9,830)
Net loss (40,771) (40,771)
------- ------ -------- -------- ------- ---------- --------
Total comprehensive loss $(44,685)
=========
Balances. December 31, 2000 34,104 382 176,743 133,697 (6,662) (48,489)