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Table of Contents
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 prior to the spin-off.
For information about the shares used in computing earnings per share, see Note 10 of Notes to Consolidated Financial Statements.
19
ITEM 6.
SELECTED FINANCIAL DATA
Year Ended December 31,
2010
2009
2008
2007
2006
(In thousands, except per share data)
Statement of Operations Data:
Net sales
$
2,996,780
$
2,749,609
$
2,823,593
$
2,908,242
$
2,877,954
Asset impairments (1)
—
—
3,186,650
—
—
Operating income (loss)
196,087
155,654
(3,102,311
)
169,791
213,196
Income (loss) from continuing operations
98,562
72,578
(2,387,478
)
105,233
133,532
Net income (loss) (2)
98,523
72,488
(2,390,888
)
164,804
122,817
Income (loss) from continuing operations per share:
Basic
$
1.72
$
1.29
$
(42.48
)
$
1.87
$
2.38
Diluted
$
1.66
$
1.27
$
(42.48
)
$
1.86
$
2.36
Net income (loss) per share:
Basic
$
1.72
$
1.29
$
(42.54
)
$
2.93
$
2.19
Diluted
$
1.65
$
1.26
$
(42.54
)
$
2.91
$
2.17
Shares used in computing earnings per share:
Basic
57,414
56,383
56,208
56,206
56,206
Diluted
59,546
57,330
56,208
56,649
56,649
Dividends per common share
—
—
—
—
—
Balance Sheet Data (end of period):
Working capital
$
451,406
$
332,964
$
306,354
$
147,185
$
340,592
Total assets
1,345,743
1,218,650
1,152,457
4,220,631
4,458,167
Total debt, including current maturities
308,758
338,722
408,528
—
—
Other long
-
term liabilities, including deferred income taxes
100,107
90,372
96,392
828,902
846,280
(1)
See Note 3 of Notes to Consolidated Financial Statements for discussion of the goodwill and intangible assets impairment charges.
(2)
See Note 7 of Notes to Consolidated Financial Statements for discussion of the entities included in discontinued operations and net income.