Invacare 2007 Annual Report Download - page 67

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CONSOLIDATED STATEMENT OF OPERATIONS
INVACARE CORPORATION AND SUBSIDIARIES
Years Ended December 31,
2007 2006 2005
(In thousands, except per share data)
Net sales .................................................. $1,602,237 $1,498,035 $1,529,732
Cost of products sold ......................................... 1,155,933 1,080,965 1,083,533
Gross Profit ........................................... 446,304 417,070 446,199
Selling, general and administrative expenses ...................... 366,846 373,846 342,039
Charges related to restructuring activities ......................... 9,591 17,277 7,295
Debt finance charges, interest and fees associated with debt
refinancing ............................................... 13,408 3,745 —
Asset write-downs related to goodwill and other intangibles .......... — 300,417 —
Interest expense ............................................. 44,309 34,084 27,246
Interest income ............................................. (2,340) (2,775) (1,683)
Earnings (loss) before Income Taxes ....................... 14,490 (309,524) 71,302
Income taxes ............................................... 13,300 8,250 22,450
Net Earnings (loss) ..................................... $ 1,190 $ (317,774) $ 48,852
Net Earnings (loss) per Share—Basic ...................... $ .04 $ (10.00) $ 1.55
Weighted Average Shares Outstanding—Basic .................... 31,840 31,789 31,555
Net Earnings (loss) per Share—Assuming Dilution ........... $ .04 $ (10.00) $ 1.51
Weighted Average Shares Outstanding—Assuming Dilution ......... 31,927 31,789 32,452
See notes to consolidated financial statements.
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