O'Reilly Auto Parts 2000 Annual Report Download - page 21

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2000 AR
19
Quarterly Results
The following table sets forth certain quarterly unaudited operating
data for fiscal 2000 and 1999. The unaudited quarterly information
includes all adjustments which management considers necessary
for a fair presentation of the information shown.
The unaudited operating data presented below should be read in
conjunction with our consolidated financial statements and related
notes included elsewhere in this annual report, and the other
financial information included here.
(In thousands, except per share data)
First Second Third Fourth
Fiscal 2000 Quarter Quarter Quarter Quarter
Product sales $ 195,758 $ 226,359 $ 251,413 $ 216,891
Gross profit 84,712 97,261 105,863 94,865
Operating income 19,486 24,793 28,805 16,945
Net income 11,567 14,359 16,572 9,210
Basic net income per
common share 0.23 0.28 0.32 0.18
Net income per
common share –
assuming dilution 0.23 0.28 0.32 0.18
(In thousands, except per share data)
First Second Third Fourth
Fiscal 1999 Quarter Quarter Quarter Quarter
Product sales $ 166,404 $ 196,107 $ 208,401 $ 183,210
Gross profit 70,957 81,823 88,001 84,509
Operating income 16,241 19,630 22,231 18,818
Net income 8,603 11,769 13,412 11,855
Basic net income per
common share 0.20 0.23 0.26 0.23
Net income per
common share –
assuming dilution 0.20 0.23 0.26 0.23
New Accounting Standards
In 1998, the Financial Accounting Standards Board issued SFAS No.
133, “Accounting for Derivative Instruments and Hedging Activities,”
which is required to be adopted in years beginning after June 15,
2000. We do not anticipate that the adoption of SFAS No. 133 will
have a significant effect on the financial position or the results of
our operations.