Ingram Micro 2010 Annual Report Download - page 51

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INGRAM MICRO INC.
CONSOLIDATED STATEMENT OF INCOME
(In 000s, except per share data)
2010 2009 2008
Fiscal Year Ended
Net sales.......................................... $34,588,984 $29,515,446 $34,362,152
Cost of sales ....................................... 32,696,693 27,845,237 32,422,061
Gross profit ....................................... 1,892,291 1,670,209 1,940,091
Operating expenses:
Selling, general and administrative ..................... 1,406,721 1,337,696 1,512,578
Impairment of goodwill ............................. — 2,490 742,653
Reorganization costs ............................... 1,137 34,083 17,029
1,407,858 1,374,269 2,272,260
Income (loss) from operations . . ........................ 484,433 295,940 (332,169)
Other expense (income):
Interest income ................................... (4,858) (9,088) (18,337)
Interest expense................................... 39,259 28,177 64,548
Net foreign exchange loss (gain) ...................... (424) 3,886 1,105
Other .......................................... 12,395 3,717 2,653
46,372 26,692 49,969
Income (loss) before income taxes ....................... 438,061 269,248 (382,138)
Provision for income taxes ............................ 120,001 67,110 12,783
Net income (loss) ................................... $ 318,060 $ 202,138 $ (394,921)
Basic earnings (loss) per share. . ........................ $ 1.98 $ 1.24 $ (2.37)
Diluted earnings (loss) per share ........................ $ 1.94 $ 1.22 $ (2.37)
See accompanying notes to these consolidated financial statements.
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