Coach 2012 Annual Report Download - page 54
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COACH, INC.
CONSOLIDATED STATEMENTS OF INCOME
(amounts in thousands, except per share data)
Fiscal Year Ended
June 30,
2012
July 2,
2011
July 3,
2010
Net sales ................................ $4,763,180 $4,158,507 $3,607,636
Cost of sales .............................. 1,297,102 1,134,966 973,945
Gross profit ............................. 3,466,078 3,023,541 2,633,691
Selling, general and administrative expenses ........ 1,954,089 1,718,617 1,483,520
Operating income ......................... 1,511,989 1,304,924 1,150,171
Interest income, net ......................... 720 1,031 7,961
Other expense ............................. (7,046) (4,736) —
Income before provision for income taxes ........ 1,505,663 1,301,219 1,158,132
Provision for income taxes .................... 466,753 420,419 423,192
Net income .......................... $1,038,910 $ 880,800 $ 734,940
Net income per share
Basic ............................... $ 3.60 $ 2.99 $ 2.36
Diluted .............................. $ 3.53 $ 2.92 $ 2.33
Shares used in computing net income per share
Basic ............................... 288,284 294,877 311,413
Diluted .............................. 294,129 301,558 315,848
See accompanying Notes to Consolidated Financial Statements.
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