O'Reilly Auto Parts 2000 Annual Report Download - page 34

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2000 AR
32
NOTE 14 – STOCK SPLIT
On November 8, 1999, the Company’s Board of Directors declared
a two-for-one stock split to be effected in the form of a 100%
stock dividend payable to all shareholders of record as of
November 15, 1999. The stock dividend was paid on November
30, 1999. Accordingly, this stock split has been recognized by
reclassifying $254,000, the par value of the additional shares
resulting from the split, from retained earnings to common stock.
All share and per share information included in the accompanying
consolidated financial statements has been restated to reflect the
retroactive effect of the stock split for all periods presented.
NOTE 15 – PUBLIC OFFERING OF COMMON STOCK
In March 1999, the Company completed a secondary public offer-
ing of 7,002,000 shares of common stock. Pursuant to this offer-
ing, the Company issued 7,002,000 shares of common stock
resulting in net proceeds to the Company of $124,570,000. A por-
tion of the proceeds was used to repay the Company’s outstanding
indebtedness under its bank credit facilities. The remaining portion
of the proceeds was used to fund the Company’s expansion.
NOTE 16 – QUARTERLY FINANCIAL DATA – UNAUDITED
(In thousands, except per share data)
Year ended First Second Third Fourth
December 31, 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 share 0.23 0.28 0.32 0.18
Net income
per share –
assuming
dilution 0.23 0.28 0.32 0.18
(In thousands, except per share data)
Year ended First Second Third Fourth
December 31, 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 share 0.20 0.23 0.26 0.23
Net income
per share –
assuming
dilution 0.20 0.23 0.26 0.23
The above quarterly financial data is unaudited, but in the opinion
of management, all adjustments necessary for a fair presentation of the
selected data for these interim periods presented have been included.
NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS continued …
O’REILLY AUTOMOTIVE