Dick's Sporting Goods 2007 Annual Report Download - page 2

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NET INCOME1
(DOLLARS IN MILLIONS)
2003
$50.3
2004
$74.5
2005
$94.5
2005P
$81.1
2006
$112.6
2007
$155.0
OPERATING MARGINS2
(PERCENTAGE)
2003
5.8%
2004
6.2%
2005
6.5%
2005P
5.6%
2006
6.3%
2007
6.9%
SALES
(DOLLARS IN MILLIONS)
2003
$1,471
2004
$2,109
2005
$2,625
2006
$3,114
2007
$3,888
GROSS PROFIT MARGINS
(PERCENTAGE)
2003
27.7%
2004
27.8%
2005
28.1%
2006
28.8%
2007
29.8%
FINANCIAL HIGHLIGHTS
Fiscal Year 2007 20062005
(Dollars in thousands, except per share data)
Net sales $3,888,422 $3,114,162$2,624,987
Gross profit 1,158,063 896,699 737,640
Gross profit margin 29.8%28.8% 28.1%
Selling, general and administrative expenses 870,415 682,625 556,320
Pre-opening expenses 18,831 16,364 10,781
Merger integration and store closing costs ——37,790
Income from operations 268,817 197,710 132,749
Net Income155,036 112,611 72,980
Adjusted Net Income3$155,036 $112,611 $81,064
Diluted earnings per common share 1.33 1.02 0.68
Adjusted Diluted earnings per common share3$1.33 $1.02 $0.75
Diluted weighted average shares outstanding (in thousands) 116,504 110,790 107,958
Total stockholders’ equity$ 888,520 $620,550 $414,793
EBITDA $343,869 $252,639$184,454
Adjusted EBITDA 3$343,869 $252,639$197,058
Comparable store net sales increase (Dick’s stores) 2.4% 6.0% 2.6%
Store count (Dick’s stores) 340 294 255
Diluted earnings applicable to common stockholders and diluted weighted average shares outstanding are adjusted for the two-for-one stock split, in the form of a
stock dividend, which became effective October 19, 2007.
1Results exclude merger integration and store closing costs, gain on sale of investment, and loss on write-down of non-cash investment
2Results exclude merger integration and store closing costs
3Results exclude merger integration and store closing costs, gain on sale of investment, and are adjusted for the effect of expensing stock options as if we had applied
SFAS 123, “Accounting for Stock-Based Compensation”, in 2005
2005P: Proforma results adjusted for stock option expense
OUR GOAL is to be the number one sports and fitness specialty retailer for all athletes
and outdoor enthusiasts, through the relentless improvement of everything we do.