Dick's Sporting Goods 2011 Annual Report Download - page 2

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FINANCIAL HIGHLIGHTS
Fiscal Year 2011 2010 2009
(dollars in thousands, except per share data)
Net sales $ 5,211,802 $ 4,871,492 $ 4,412,835
Gross profi t 1,594,881 1,449,030 1,216,936
Gross profi t margin 30.6% 29.7% 27.6%
Selling, general and administrative expenses 1,148,268 1,129,293 972,025
Pre-opening expenses 14,593 10,488 9,227
Merger and integration costs — — 10,113
Income from operations 432,020 309,249 225,571
Net income $ 263,906 $ 182,077 $ 135,359
Adjusted net income1 $ 253,879 $ 198,396 $ 141,427
Diluted earnings per common share $ 2.10 $ 1.50 $ 1.15
Adjusted diluted earnings per common share1 $ 2.02 $ 1.63 $ 1.20
Diluted weighted average shares outstanding (in thousands) 125,768 121,724 117,955
Total stockholders’ equity $ 1,632,745 $ 1,363,581 $ 1,083,227
EBITDA $ 562,475 $ 421,921 $ 328,667
Adjusted EBITDA1 $ 546,427 $ 449,118 $ 336,302
Same store sales increase (decrease) 2 2.0% 7.2% (1.4%)
Store count (Dick’s Sporting Goods stores) 480 444 419
1 Results exclude merger and integration costs, expenses associated with the closure of 12 underperforming Golf Galaxy stores and a litigation
settlement charge in 2010, and a gain on sale of investment and the favorable impact of lower litigation settlement costs in 2011.
2 2009 same store sales include Dick’s Sporting Goods and Golf Galaxy sales. 2010 and 2011 same
store sales include Dick’s Sporting Goods, Golf Galaxy and the Company’s eCommerce business.
3 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, litigation settlement charges and a gain on sale of investment.
NET SALES
(in millions)
$3,888
2007
$4,130
2008
$4,413
2009
$4,871
2010
$5,212
2011
6.9%
2007
5.8%
2008
5.3%
2009
6.9%
2010
8.2%
2011
OPERATING MARGINS
3
$150.6
2007
$134 .1
2008
$141.4
2009
$198.4
2010
$253.9
2011
ADJUSTED NET INCOME
3
(in millions)
29.8%
2007
28.7%
2008
27.6%
2009
29.7%
2010
30.6%
2011
GROSS PROFIT MARGINS