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39
SYSTEMAX INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
Year Ended December 31,
2007 2006
2005
Net sales $2,779,875 $2,345,165 $2,115,518
Cost of sales 2,353,574 2,002,246 1,808,231
Gross profit 426,301 342,919 307,287
Selling, general and administrative expenses 330,797 281,015 268,327
Restructuring and other charges - - 4,151
Operating income 95,504 61,904 34,809
Interest and other income, net (5,505) (9,475) (735)
Interest expense 986 1,684 2,670
Income before income taxes 100,023 69,695 32,874
Provision for income taxes 30,542 24,548 21,433
Net income $69,481 $45,147 $11,441
Net income per common share:
Basic $1.93 $1.29 $.33
Diluted $1.84 $1.22 $.31
Weighted average common and common equivalent shares:
Basic 35,968 34,960 34,646
Diluted 37,688 36,881 36,488
See notes to consolidated financial statements.