Cracker Barrel 2009 Annual Report Download - page 57

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55
C R A C K E R B A R R E L O L D C O U N T R Y S T O R E , I N C .
Consolidated Statement of Income
(In thousands except share data)
Fiscal years ended
July 31, August 1, August 3,
2009 2008 2007
Total revenue $ 2,367,285 $ 2,384,521 $ 2,351,576
Cost of goods sold 764,909 773,757 744,275
Gross profit 1,602,376 1,610,764 1,607,301
Labor and other related expenses 916,256 909,546 892,839
Impairment and store closing charges 2,088 877 —
Other store operating expenses 421,594 422,293 410,131
Store operating income 262,438 278,048 304,331
General and administrative expenses 120,199 127,273 136,186
Operating income 142,239 150,775 168,145
Interest expense 52,177 57,445 59,438
Interest income — 185 7,774
Income before income taxes 90,062 93,515 116,481
Provision for income taxes 24,105 28,212 40,498
Income from continuing operations 65,957 65,303 75,983
(Loss) income from discontinued operations, net of tax (31) 250 86,082
Net income $ 65,926 $ 65,553 $ 162,065
Basic net income per share:
Income from continuing operations $ 2.94 $ 2.87 $ 2.75
(Loss) income from discontinued operations, net of tax — 0.01 3.11
Net income per share $ 2.94 $ 2.88 $ 5.86
Diluted net income per share:
Income from continuing operations $ 2.89 $ 2.79 $ 2.52
(Loss) income from discontinued operations, net of tax — 0.01 2.71
Net income per share $ 2.89 $ 2.80 $ 5.23
Basic weighted average shares outstanding 22,458,971 22,782,608 27,643,098
Diluted weighted average shares outstanding 22,787,633 23,406,044 31,756,582
See Notes to Consolidated Financial Statements.
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