Home Shopping Network 2008 Annual Report Download - page 22

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19
ITEM 6. SELECTED FINANCIAL DATA
The following table presents selected consolidated financial data for HSNi. The information in this table is
not necessarily indicative of future performance and should be read in conjunction with "Management's Discussion
and Analysis of Financial Condition and Results of Operations," and our audited consolidated financial statements
and related notes included herein. Our consolidated financial statements present our results of operations, financial
position, shareholders’ equity and comprehensive income and cash flows on a combined basis up through the spin-
off on August 20, 2008, and on a consolidated basis thereafter. However, this financial information does not
necessarily reflect what the historical financial position and results of operations of HSNi would have been had
HSNi been a stand-alone company during the periods presented.
For information about the shares used in computing earnings per share, see Note 10 of Notes to
Consolidated Financial Statements.
2008 2007 2006 2005 (1) 2004
(unaudited)
(unaudited)
Statement of Operations Data:
Net sales
$ 2,823,593
$ 2,908,242
$ 2,877,954
2,670,951$ 1,905,903$
Asset impairments (2)
3,186,650
-
-
- -
Operating (loss) income
(3,102,311)
169,791
213,196
195,152 127,748
(Loss) income from continuing operations
(2,387,478)
105,233
133,532
127,077
84,235
Net (loss) income (3)
(2,390,888)
164,804
122,817
223,221 79,048
(Loss) income from continuing operations
per share:
Basic $ (42.48) $ 1.87 $ 2.38 2.26$ 1.50$
Diluted $ (42.48) $ 1.86 $ 2.36 2.24$ 1.49$
Net (loss) income per share:
Basic $ (42.54) $ 2.93 $ 2.19 3.97$ 1.41$
Diluted
$ (42.54)
$ 2.91
$ 2.17
3.94
$
1.40
$
Shares used in computing earnings per share:
Basic 56,208 56,206 56,206 56,206
56,206
Diluted
56,208
56,649
56,649
56,649
56,649
Dividends per common share - - - - -
Balance Sheet Data (end of period):
Working capital $ 306,354 $ 147,185 $ 340,592 320,991$ 214,871$
Total assets
1,152,457
4,220,631
4,458,167
4,527,376
3,988,728
Total debt, including current maturities 408,528 - - - -
Other long-term liabilities, including
deferred income taxes
96,392
828,902
846,280
845,840
762,415
Year Ended December 31,
(In thousands, except per share data)
(1) Includes the results of Cornerstone Brands, Inc. since its acquisition on April 1, 2005.
(2) See Note 3 of Notes to Consolidated Financial Statements for discussion of the goodwill and intangible assets impairment charges.
(3) See Note 7 of Notes to Consolidated Financial Statements for discussion of the sale of HSE which is included in discontinued
operations and net income.