Circuit City 2006 Annual Report Download - page 32

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Other liabilities 4,226 2,346
Commitments and contingencies
Shareholders' equity:
Preferred stock, par value $.01 per share, authorized 25 million shares,
issued none
Common stock, par value $.01 per share, authorized 150 million shares,
issued 38,331,990 shares; outstanding 35,341,377 (2006) issued 38,231,990
shares; outstanding 34,761,174 (2005) shares 383 382
Additional paid-in capital 172,983 177,574
Accumulated other comprehensive income, net of tax 7,181 893
Retained earnings 144,074 98,927
Common stock in treasury at cost - 2,990,613 (2006) and 3,470,816 (2005) (35,131)
shares (40,772)
Unearned restricted stock compensation (4,162)
-------- -------
Total shareholders' equity 289,490 232,842
-------- -------
Total liabilities and shareholders' equity $584,161 $504,544
======== =======
See notes to consolidated financial statements.
SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED
DECEMBER 31, 2006, 2005 AND 2004
(IN THOUSANDS, except per common share amounts)
2006 2005 2004*
---- ---- ----
Net sales $2,345,165 $2,115,518 $1,928,147
Cost of sales 2,002,246 1,808,231 1,641,681
------------------ ----------------- --------------
Gross profit 342,919 307,287 286,466
Selling, general and administrative expenses 281,015 268,327 260,111
Restructuring and other charges - 4,151 7,356
------------------ ----------------- --------------
Income from operations 61,904 34,809 18,999
Interest and other income, net (9,475) (735) (630)
Interest expense 1,684 2,670 3,073
------------------ ----------------- --------------
Income before income taxes 69,695 32,874 16,556
Provision for income taxes 24,548 21,433 6,368
------------------ ----------------- --------------
Net income $45,147 $11,441 $10,188
================== ================= ==============
Net income per common share, basic: $1.29 $.33 $.30
Net income per common share, diluted: $1.22 $.31 $.29
Weighted average common and common equivalent shares:
Basic 34,960 34,646 34,373
Diluted 36,881 36,488 35,489
* 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, 2006, 2005 AND 2004
(IN THOUSANDS)
Common Accumulated
Number Other Unearned
of Shares Additional Comprehensive Treasury Restricted
Out- Stock Paid-in Retained Income (Loss), Stock, Stock Comprehensive
Standing Amount Capital Earnings Net of Tax At Cost Compensation Income (Loss)
------------ ---------- ------------ ----------- --------------- ------------- ------------ --------------
Balances, January
1, 2004* $34,288 $382 $175,343 $77,298 $1,933 $(46,330) $- $-
-------- ---- -------- ------- ------ --------- -------- ------