Famous Footwear 2004 Annual Report Download - page 73

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Table of Contents
Notes to Consolidated Financial Statements (continued)
BROWN SHOE COMPANY, INC. 2003 FORM 10-K
recorded over the performance period based on the anticipated number of shares to be awarded. Compensation expense for performance
shares was $4.0 million in 2003 and $1.3 million in 2002. In fiscal 2001, projections indicated there would be no awards at the end of the
performance periods for grants made in 2001 and prior years. Accordingly, accrued expenses for those plans were reversed, resulting in
income in 2001 of $0.8 million.
17. QUARTERLY FINANCIAL DATA (Unaudited)
Quarters
First Second Third Fourth
(13 Weeks) (13 Weeks) (13 Weeks) (13 Weeks)
2003
Net sales $446,444 $458,384 $493,433 $433,847
Gross profit 185,127 187,865 204,712 180,962
Net earnings 9,003 11,556 21,200 5,135
Per share of common stock:
Net earnings — basic 0.51 0.66 1.19 0.29
Net earnings — diluted 0.49 0.62 1.13 0.27
Dividends paid 0.10 0.10 0.10 0.10
Market value:
High 30.36 31.75 36.25 39.73
Low 25.10 25.00 28.30 31.85
2002
Net sales $446,738 $456,255 $486,318 $452,132
Gross profit 180,606 177,837 198,637 183,709
Net earnings 7,633 7,169 21,022 9,348
Per share of common stock:
Net earnings — basic 0.44 0.41 1.21 0.54
Net earnings — diluted 0.43 0.40 1.18 0.51
Dividends paid 0.10 0.10 0.10 0.10
Market value:
High 21.36 28.10 22.45 29.39
Low 14.81 19.20 13.80 19.66
Note 1: Net earnings for the fourth quarter of fiscal 2003 include special charges of $2.0 million for costs of the Redfield litigation and
$2.7 million for closing the Company’s last remaining footwear manufacturing facility.
Note 2: Net earnings for the fourth quarter of fiscal 2002 include $1.2 million of recoveries related to charges recorded in fiscal 2001 for
Naturalizer Retail and severance.
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