Invacare 2008 Annual Report Download - page 69

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CONSOLIDATED STATEMENT OF OPERATIONS
INVACARE CORPORATION AND SUBSIDIARIES
Years Ended December 31,
2008 2007 2006
(In thousands, except per share data)
Net sales .................................................. $1,755,694 $1,602,237 $1,498,035
Cost of products sold ......................................... 1,266,802 1,155,933 1,080,965
Gross Profit ........................................... 488,892 446,304 417,070
Selling, general and administrative expenses ...................... 398,254 366,846 373,846
Charges related to restructuring activities ......................... 2,949 9,591 17,277
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 ............................................. 39,233 44,309 34,084
Interest income ............................................. (3,045) (2,340) (2,775)
Earnings (loss) before Income Taxes ....................... 51,501 14,490 (309,524)
Income taxes ............................................... 12,950 13,300 8,250
Net Earnings (loss) ..................................... $ 38,551 $ 1,190 $ (317,774)
Net Earnings (loss) per Share—Basic ...................... $ 1.21 $ .04 $ (10.00)
Weighted Average Shares Outstanding—Basic .................... 31,902 31,840 31,789
Net Earnings (loss) per Share—Assuming Dilution ........... $ 1.21 $ .04 $ (10.00)
Weighted Average Shares Outstanding—Assuming Dilution ......... 31,953 31,927 31,789
See notes to consolidated financial statements.
FS-3