Circuit City 2004 Annual Report Download - page 13

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2003 High Low
---- ---- ---
First quarter....................... $1.99 $1.29
Second quarter...................... 4.28 1.95
Third quarter....................... 8.45 3.47
Fourth quarter...................... 7.78 6.49
On April 14, 2005, the last reported sale price of our common stock on the New York Stock Exchange was $6.92
per share. As of April 14, 2005, we had 240 shareholders of record.
We have not paid any dividends since our initial public offering and anticipate that all of our cash provided by
operations in the foreseeable future will be retained for the development and expansion of our business, and therefore
do not anticipate paying dividends on our common stock in the foreseeable future.
12
Item 6. Selected Financial Data.
The following selected financial information is qualified by reference to, and should be read in conjunction with,
the Company's Consolidated Financial Statements and the notes thereto, and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" contained elsewhere in this report. The selected statement of
operations data for the years ended December 31, 2004, 2003 and 2002 and the selected balance sheet data as of
December 31, 2004 and 2003 are derived from the audited consolidated financial statements which are included
elsewhere in this report. The selected balance sheet data as of December 31, 2002, 2001 and 2000 and the selected
statement of operations data for the years ended December 31, 2001 and 2000 are derived from the audited
consolidated financial statements of the Company which are not included in this report.
Years Ended December 31*
------------------------
(In millions, except per common share data and number
of catalog titles)
-----------------------------------------------------
2004 2003 2002 2001 2000
-----------------------------------------------------
Statement of Operations Data:
----------------------------
Net sales $1,928.1 $1,655.7 $1,551.9 $1,550.8 $1,690.3
Gross profit $286.5 $264.9 $266.3 $275.7 $211.9
Selling, general & administrative expenses $260.1 $251.5 $256.1 $271.6 $270.9
Restructuring and other charges $7.4 $1.7 $17.3 $2.8 -
Income (loss) from operations $19.0 $9.2 $(7.0) $2.5 $(59.0)
Provision (benefit) for income taxes $6.4 $4.4 $(0.8) $(.1) $(23.5)
Income (loss) before cumulative effect of change in accounting
principle, net of tax $10.2 $3.2 $(7.4) - $(39.7)
Cumulative effect of change in accounting principle, net of tax - - $(51.0) - -
Net income (loss) $10.2 $3.2 $(58.4) - $(39.7)
Net income (loss) per common share, basic:
Income (loss) before cumulative effect of change in accounting
principle, net of tax $.30 $.09 $(.21) - $(1.16)
Cumulative effect of change in accounting principle, net of tax - - $(1.50) - -