Circuit City 2005 Annual Report Download - page 19

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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, 2005, 2004 and 2003 and the selected balance sheet data as of
December 31, 2005 and 2004 are derived from the audited consolidated financial statements which are included
elsewhere in this report. The selected balance sheet data as of December 31, 2003, 2002 and 2001 and the selected
statement of operations data for the years ended December 31, 2002 and 2001 are derived from the audited
consolidated financial statements of the Company which are not included in this report.
* As previously restated – see Note 2 to the consolidated financial statements.
Item 7. Management
’
s Discussion and Analysis of Financial Condition and Results of Operations.
Years Ended December 31
(In millions, except per common share data
and number of catalog titles)
2005 2004* 2003* 2002* 2001*
Statement of Operations Data
:
Net sales
$2,115.5
$1,928.1
$1,655.7
$1,551.9
$1,550.8
Gross profit
Selling, general & administrative expenses
Restructuring and other charges
$4.2
$7.4
$1.7
$17.3
$2.8
Income (loss) from operations
$34.8
$19.0
$9.2
$(7.0)
$2.5
Provision (benefit) for income taxes
$21.4
$6.4
$4.4
$(0.8)
$(.1)
Income (loss) before cumulative effect of change in accounting
principle, net of tax
$11.4
$10.2
$3.2
$(7.4)
--
Cumulative effect of change in accounting principle, net of tax
--
--
--
$(51.0)
--
Net income (loss)
$11.4
$10.2
$3.2
$(58.4)
--
Net income (loss) per common share, basic:
Income (loss) before cumulative effect of change in accounting
principle, net of tax
$.33
$.30
$.09
$(.21)
--
Cumulative effect of change in accounting principle, net of tax
--
--
--
$(1.50)
--
Net income (loss) per common share
$.33
$.30
$.09
$(1.71)
--
Net income (loss) per common share, diluted:
Income (loss) before cumulative effect of change in accounting
principle, net of tax
$.31
$.29
$.09
$(.21)
--
Cumulative effect of change in accounting principle, net of tax
--
--
--
$(1.50)
--
Net income (loss) per common share
$.31
$.29
$.09
$(1.71)
--
Weighted average common shares outstanding:
Basic
34.6
34.4
34.2
34.1
34.1
Diluted
36.5
35.5
34.9
34.1
34.1
Selected Operating Data
:
Orders entered
6.2
5.2
4.4
4.0
4.0
Number of catalogs distributed
66
88
97
106
126
Number of catalog titles
22
22
30
37
38
Balance Sheet Data
:
Working capital
Total assets
Short
-
term debt
$26.8
$25.0
$20.8
$21.2
$2.8
Long
-
term debt, excluding current portion
$8.0
$8.6
$18.4
$17.5
--
Shareholders' equity