O'Reilly Auto Parts 2002 Annual Report Download - page 28

(In thous ands , e xce pt pe r s hare data and s e le cte d ope rating data)
YEARS ENDED DECEMBER 31, 2002 2001 2000
INCOME STATEMENT DATA:
Product sales $1,312,490 $1,092,112 $ 890,421
Cost of goods sold, including warehouse and distribution expenses 759,090 624,294 507,720
Gross profit 553,400 467,818 382,701
Operating, selling, general and administrative expenses 415,099 353,987 292,672
Operating income 138,301 113,831 90,029
Other income (expense), net (7,319) (7,104) (6,870)
Provision for income taxes 48,990 40,375 31,451
Income from continuing operations 81,992 66,352 51,708
Income from discontinued operations —— —
Net income $81,992 $66,352 $ 51,708
BASIC EARNINGS PER COMMON SHARE:
Income per share from continuing operations $1.54 $1.27 $ 1.01
Income per share from discontinued operations —— —
Net income per share $1.54 $1.27 $ 1.01
Weighted-average common shares outstanding 53,114 52,121 51,168
EARNINGS PER COMMON SHARE – ASSUMING DILUTION:
Income per share from continuing operations $1.53 $1.26 $ 1.00
Income per share from discontinued operations —— —
Net income per share $1.53 $1.26 $ 1.00
Weighted-average common shares outstanding – adjusted 53,692 52,786 51,728
SELECTED OPERATING DATA:
Number of stores at year-end(a) 981 875 672
Total store square footage at year-end (in 000’s)(a)(b) 6,617 5,882 4,491
Weighted-average product sales per store (in 000’s)(a)(b) $1,415 $1,425 $ 1,412
Weighted-average product sales per square foot(b)(e) $210.70 $213.00 $ 212.60
Percentage increase in same-store product sales open two full periods(c) 3.1% 8.2% 4.0%
Percentage increase in same-store product sales open one year(b) 3.7% 8.8% 5.0%
BALANCE SHEET DATA:
Working capital $483,623 $429,527 $ 296,272
Total assets 1,009,419 856,859 715,995
Short-term debt 682 16,843 49,121
Long-term debt, less current portion 190,470 165,618 90,463
Shareholders’ equity 650,524 556,291 463,731
(a) Store c o unt for 2 002 do e s no t include 2 7 s tore s acquire d from Dick Smith Ente rprise s and Davie Automotive , Inc. in De ce mbe r 2 0 02 .
(b) Total s quare footage include s normal s e lling, office , s tockroo m and re ce iving s pace . We ighte d-ave rage product s ale s pe r s tore and pe r s quare foo t are
we ighte d to c o ns ide r the approximate date s of s to re o pe nings o r e xpans ions .
(c) Same -s to re product s ale s data are c alculate d bas e d on the c hange in product s ales of o nly thos e s tore s ope n during bo th full pe riods be ing com-
pare d. Pe rce ntage incre as e in s ame -sto re produc t s ale s is c alculate d bas e d o n s tore s ales re s ults, which e xclude s ale s o f s pe cialty machine ry, s ales by
outs ide s ale s me n and s ales to e mploye e s.
(d) Be ginning January 20 0 0, s ame -s tore produc t s ale s data are calculate d bas e d o n the change in product s ale s o f s tores ope n at le as t o ne ye ar.
Pe rce ntage incre as e in s ame -sto re product s ale s is calculate d bas e d on s tore s ales res ults, which e xc lude s ales of s pe cialty machine ry, s ales by outs ide
s ale sme n and s ale s to e mploye e s .
(e ) 1 99 8 do e s no t include s tore s acquired from Hi/LO. Co ns o lidate d we ighte d-ave rage produc t s ale s pe r s quare foo t we re $ 2 07 .3 0.
SELECTED CONSOLIDATED FINANCIAL DATA
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