Harman Kardon 2007 Annual Report Download - page 33

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20
We did not repurchase any shares of our common stock in the quarter ended June 30, 2007. Our share
repurchase program was first publicly announced on June 16, 1998. In August 2005, the Board
authorized the purchase of up to an additional four million shares, bringing the total number of authorized
shares to 20 million. The total number of shares repurchased through June 30, 2007 was 18,198,082. Our
share repurchase program has been suspended due to our proposed merger with Parent.
For a description of limitations on repurchases of shares and on the payment of dividends, see
“Management’s Discussion and Analysis of Financial Condition and Results of Operations – Financial
Condition” located in Item 7 of Part II of this report.
Item 6. Selected Financial Data
The following table presents selected historical financial data derived from the audited Consolidated
Financial Statements for each of the five years presented. The information should be read in conjunction
with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the
audited Consolidated Financial Statements and the Notes thereto.
Years Ended June 30,
(In thousands except per share data) 2007
2006
2005
2004
2003
Net sales $3,551,144 3,247,897 3,030,889 2,711,374 2,228,519
Operating income $ 386,387 397,241 350,981 254,465 166,894
Income before income taxes $ 382,205 376,187 335,337 227,520 142,471
Net income $ 313,963 255,295 232,848 157,883 105,428
Diluted earnings per share (a) $ 4.72 3.75 3.31 2.27 1.55
Weighted average shares outstanding
– diluted (a) 66,449 68,105 70,399 69,487 68,048
Total assets (b) $2,508,868 2,375,752 2,201,983 1,999,875 1,711,918
Total debt $ 76,528 197,554 333,917 394,925 503,068
Shareholders’ equity $1,494,041 1,228,164 1,060,948 874,996 655,785
Dividends per share (a) $ 0.05 0.05 0.05 0.05 0.05
(a) Share and per share data has been adjusted to reflect the two-for-one stock split in November 2003.
(b) Prior year amounts have been reclassified to conform to current year presentation.