Circuit City 2005 Annual Report Download - page 46

Download and view the complete annual report

Please find page 46 of the 2005 Circuit City annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 162

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162

See notes to consolidated financial statements.
SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2005, 2004 AND 2003
(IN THOUSANDS, except per common share amounts)
* As previously restated – see Note 2.
See notes to consolidated financial statements.
SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2005, 2004 AND 2003
(IN THOUSANDS)
Additional paid
-
in capital
177,574
180,640
Accumulated other comprehensive income, net of tax
893
3,920
Retained earnings
87,486
Common stock in treasury at cost
-
3,470,816 (2005) and 3,799,191 (2004) shares
(40,772
)
(44,630
)
Unearned restricted stock compensation
(4,162
)
(5,166
)
Total shareholders' equity
232,842
222,632
TOTAL
$
504,544
$
483,196
2005
2004*
2003*
Net sales
$2,115,518
$1,928,147
$1,655,736
Cost of sales
1,808,231
1,641,681
1,390,840
Gross profit
307,287
286,466
264,896
Selling, general and administrative expenses
268,327
260,111
251,460
Restructuring and other charges
4,151
7,356
1,726
Goodwill impairment
2,560
Income from operations
9,150
Interest and other income, net
(735)
(630)
(755)
Interest expense
2,670
3,073
2,344
Income before income taxes
7,561
Provision for income taxes
6,368
4,354
Net income
$11,441
$10,188
Net income per common share, basic:
$.33
$.30
$.09
Net income per common share, diluted:
$.31
$.29
$.09
Weighted average common and common equivalent shares:
Basic
Diluted
Common
Number
of Shares Additional
Accumulated
Other
Comprehensive
Treasury Unearned
Restricted Comprehensive