Cracker Barrel 2004 Annual Report Download - page 46

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CBRL GROUP, INC.
Consolidated Statement of Income
(In thousands except share data)
Fiscal years ended
July 30,
2004
August 1,
2003
August 2,
2002
(As Restated,
see Note 2)
(As Restated,
see Note 2)
(As Restated,
see Note 2)
Total revenue $2,380,947 $2,198,182 $2,071,784
Cost of goods sold 785,703 703,915 677,738
Gross profit 1,595,244 1,494,267 1,394,046
Labor & other related expenses 880,617 819,957 777,617
Other store operating expenses 405,139 380,534 354,040
Store operating income 309,488 293,776 262,389
General and administrative 126,501 121,898 115,179
Operating income 182,987 171,878 147,210
Interest expense 8,444 8,892 6,769
Interest income 5 73 --
Income before income taxes 174,548 163,059 140,441
Provision for income taxes 62,663 57,951 49,997
Net income $ 111,885 $ 105,108 $ 90,444
Net income per share – basic $ 2.29 $ 2.13 $ 1.67
Net income per share – diluted $ 2.23 $ 2.06 $ 1.61
Basic weighted average shares
outstanding 48,877,306 49,274,373 54,198,845
Diluted weighted average shares
outstanding 50,369,845 50,998,339 56,090,940
See Notes to Consolidated Financial Statements.