National Oilwell Varco 2003 Annual Report Download - page 30

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29
NATIONAL-OILWELL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended December 31,
2003 2002 2001
Revenues 2,004,920$ 1,521,946$ 1,747,455$
Cost of products and services sold 1,540,743 1,160,082 1,319,621
Gross profit 464,177 361,864 427,834
Selling, general, and administrative 305,189 227,541 238,557
Operating income 158,988 134,323 189,277
Interest and financial costs (38,928) (27,279) (24,929)
Interest income 2,317 2,638 1,775
Other income (expense), net (5,726) 3,656 1,894
Income before income taxes and minority interest 116,651 113,338 168,017
Provision for income taxes 33,685 39,396 63,954
Income before minority interest 82,966 73,942 104,063
Minority interest in income of consolidated subsidiaries (6,145) (873) -
Net income 76,821$ 73,069$ 104,063$
Net income per share:
Basic 0.91$ 0.9
0
$ 1.29$
Diluted 0.9
0
$ 0.89$ 1.2
7
$
Weighted average shares outstanding:
Basic 84,549 80,974 80,813
Diluted 84,985 81,709 81,733
The accompanying notes are an integral part of these statements.