Columbia Sportswear 2002 Annual Report Download - page 36

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COLUMBIA SPORTSWEAR COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Year Ended December 31,
2002 2001 2000
Net sales ....................................................... $816,319 $779,581 $614,825
Cost of sales .................................................... 437,782 422,430 334,689
Grossprofit..................................................... 378,537 357,151 280,136
Selling, general, and administrative .................................. 214,862 208,970 183,743
Income from operations ........................................... 163,675 148,181 96,393
Interest income .................................................. (2,790) (1,712) (1,074)
Interest expense ................................................. 2,436 4,280 5,312
Incomebeforeincometax ......................................... 164,029 145,613 92,155
Incometaxexpense(Note9) ....................................... 61,511 56,789 33,544
Netincome ..................................................... $102,518 $ 88,824 $ 58,611
Earnings per share:
Basic ...................................................... $ 2.60 $ 2.27 $ 1.52
Diluted .................................................... 2.56 2.23 1.48
Weighted average shares outstanding (Note 14):
Basic ...................................................... 39,449 39,051 38,541
Diluted .................................................... 40,063 39,840 39,608
See accompanying notes to consolidated financial statements.
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