Napa Auto Parts 2010 Annual Report Download - page 41
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Table of Contents
Net sales $10,057,512 $11,015,263
Cost of goods sold 7,047,750 7,742,773
Gross margin 3,009,762 3,272,490
Operating expenses:
Selling, administrative, and other expenses 2,219,935 2,359,829
Depreciation and amortization 90,411 88,698
Provision for doubtful accounts 28,463 23,883
Total operating expenses 2,338,809 2,472,410
Non-operating expenses (income):
Interest expense 27,885 31,721
Other (1,097) (109)
Total non-operating expenses 26,788 31,612
Income before income taxes 644,165 768,468
Income taxes 244,590 293,051
Net income $ 399,575 $ 475,417
Basic net income per common share $ 2.51 $ 2.93
Diluted net income per common share $ 2.50 $ 2.92
Weighted average common shares outstanding 159,410 162,351
Dilutive effect of stock options and non-vested restricted stock awards 297 635
Weighted average common shares outstanding — assuming dilution 159,707 162,986
See accompanying notes.
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