Circuit City 2008 Annual Report Download - page 43

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Table of Contents
SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
See notes to consolidated financial statements.
41
Year Ended December 31,
2008
2007
2006
Net sales
$
3,032,961
$
2,779,875
$
2,345,165
Cost of sales
2,568,816
2,353,574
2,002,246
Gross profit
464,145
426,301
342,919
Selling, general and administrative expenses
380,778
332,359
282,189
Operating income
83,367
93,942
60,730
Foreign currency exchange loss (gain)
1,300
(1,562
)
(1,174
)
Interest and other income, net
(1,981
)
(5,505
)
(9,475
)
Interest expense
305
986
1,684
Income before income taxes
83,743
100,023
69,695
Provision for income taxes
30,900
30,542
24,548
Net income
$
52,843
$
69,481
$
45,147
Net income per common share:
Basic
$
1.45
$
1.93
$
1.29
Diluted
$
1.41
$
1.84
$
1.22
Weighted average common and common equivalent shares:
Basic
36,450
35,968
34,960
Diluted
37,411
37,688
36,881