Circuit City 2005 Annual Report Download - page 64

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Financial information relating to the Company’s operations by geographic area was as follows (in thousands):
Net sales are attributed to countries based on location of selling subsidiary.
* As previously restated – see Note 2.
Corporate
255
266
265
Consolidated
$9,994
$11,314
$13,938
Income (Loss) from Operations:
Computer products
$41,521
$16,873
$9,574
Industrial products
7,591
10,782
5,036
Software application
(6,803
)
(4,954
)
(2,501
)
Corporate and other expenses
(7,500
)
(3,702
)
(2,959
)
Consolidated
$34,809
$18,999
$9,150
Year Ended December 31,
2005 2004 * 2003 *
Net Sales:
United States:
Industrial products
$ 174,616
$151,630
$131,921
Computer products
1,147,230
1,011,118
866,383
United States total
1,321,846
1,162,748
998,304
Other North America
99,035
69,704
26,384
Europe
694,637
695,695
631,048
Consolidated
$2,115,518
$1,928,147
$1,655,736
Dec 31, 2005 Dec 31, 2004
Long
-
lived Assets:
North America
-
principally United States
$31,435
$34,654
Europe
25,824
30,909
Consolidated
$57,259
$65,563
13. BUSINESS COMBINATIONS AND GOODWILL
During the second quarter of 2003, the Company purchased the minority ownership of its Netherlands subsidiary
pursuant to the terms of the original purchase agreement for approximately $2.6 million. All of the purchase price
was attributable to goodwill and, as a result of an impairment analysis, was written off in accordance with SFAS
142 during that quarter.
14. SUBSEQUENT EVENTS
In December 2005, the Company entered into an agreement to sell its Suwanee, Georgia distribution facility. The
transaction closed in March 2006 and, as a result, the Company repaid its mortgage note (see Note 7). The
Company realized a gain of approximately $7 million, net of a prepayment penalty on the mortgage, which will
be recognized in the Company
’
s first quarter 2006 consolidated financial statements.
15. QUARTERLY FINANCIAL DATA (UNAUDITED)
Quarterly financial data is as follows (in thousands, except for per share amounts):