Dick's Sporting Goods 2010 Annual Report Download - page 2

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SALES
(in millions)
$3,114
$3,888
$4,130
$4,413
$4,871
20102009200820072006
ADJUSTED NET INCOME1
(in millions)
$108.5
$150.6
$134.1
$141.4
$198.4
2009200820072006 2010
6.3%
6.9%
5.8%
5.3%
6.9%
OPERATING MARGINS1
2009200820072006 2010
GROSS PROFIT MARGINS
28.8%
29.8%
28.7%
27.6%
29.7%
20102009200820072006
FINANCIAL HIGHLIGHTS
Fiscal Year 2010 2009 2008
(dollars in thousands, except per share data)
Net sales $ 4,871,492 $ 4,412,835 $ 4,130,128
Gross profit 1,449,030 1,216,936 1,184,049
Gross profit margin 29.7% 27.6% 28.7%
Selling, general and administrative expenses 1,129,293 972,025 928,170
Pre-opening expenses 10,488 9,227 16,272
Merger and integration costs — 10,113 15,877
Impairment of goodwill and other intangible assets — — 164,255
Impairment of store assets — — 29,095
Income from operations 309,249 225,571 30,380
Net income (loss) $ 182,077 $ 135,359 $ (39,865)
Adjusted net income1 $ 198,396 $ 141,427 $ 134,138
Diluted earnings (loss) per common share $ 1.50 $ 1.15 $ (0.36)
Adjusted diluted earnings per common share1 $ 1.63 $ 1.20 $ 1.15
Diluted weighted average shares outstanding (in thousands) 121,724 117,955 111,662
Adjusted diluted weighted average shares outstanding (in thousands) 121,724 117,955 116,650
Total stockholders’ equity $ 1,363,581 $ 1,083,227 $ 893,577
EBITDA $ 421,921 $ 328,667 $ 121,983
Adjusted EBITDA1 $ 449,118 $ 336,302 $ 326,462
Same store sales increase (decrease) 2 7.4% (1.4%) (4.8%)
Store count (Dick’s Sporting Goods stores) 444 419 384
1 Results exclude goodwill, other intangible and store asset impairment charges, merger and integration costs, expenses associated with the
closure of 12 underperforming Golf Galaxy stores in 2010 and a litigation settlement charge in 2010.
2 2008 same store sales include Dick’s Sporting Goods sales only. 2009 same store sales include Dick’s Sporting Goods and Golf Galaxy sales.
2010 same store sales include Dick’s Sporting Goods, Golf Galaxy and the Company’s e-commerce business.