O'Reilly Auto Parts 2003 Annual Report Download - page 28

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selected consolidated financial data
page 26
(In thousands, except per share data)
years ended december 31, 2003 2002 2001
income statement data:
Product sales $1,511,816 $1,312,490 $1,092,112
Cost of goods sold, including warehouse and distribution expenses 873,481 759,090 624,294
Gross profit 638,335 553,400 467,818
Operating, selling, general and administrative expenses 473,060 415,099 353,987
Operating income 165,275 138,301 113,831
Other income (expense), net (5,233) (7,319) (7,104)
Provision for income taxes 59,955 48,990 40,375
Net income $ 100,087 $ 81,992 $ 66,352
basic earnings per common share:
Net income per share $ 1.86 $ 1.54 $ 1.27
Weighted-average common shares outstanding 53,908 53,114 52,121
earnings per common share-assuming dilution:
Net income per share $ 1.84 $ 1.53 $ 1.26
Weighted-average common shares outstanding – adjusted 54,530 53,692 52,786
selected operating data:
Number of stores at year-end (a) 1,109 981 875
Total store square footage at year-end (in 000’s) (a) (b) 7,348 6,408 5,882
Weighted-average product sales per store (in 000’s) (a) (b) $ 1,413 $ 1,372 $ 1,426
Weighted-average product sales per square foot (b) (d) $ 215 $211 $ 219
Percentage increase in same-store product sales (c) 7.8% 3.7% 8.8%
balance data sheet:
Working capital $ 441,617 $ 483,623 $ 429,527
Total assets 1,187,592 1,009,419 856,859
Short-term debt 925 682 16,843
Long-term debt, less current portion 120,977 190,470 165,618
Shareholders’ equity 784,285 650,524 556,291
(a) Store count for 2002 does not include 27 stores acquired from Dick Smith Enterprises and Davie Automotive, Inc. in December 2002.
(b) Total square footage includes normal selling, office, stockroom and receiving space. Weighted-average product sales per store and per square foot are weighted to consider the
approximate dates of store openings or expansions.
(c) Same-store product sales data are calculated based on the change in product sales of stores open at least one year. Prior to 2000, same-store product sales data
were calculated based on the change in product sales of only those stores open during both full periods being compared. Percentage increase in same-store product sales is calculated
based on store sales results, which exclude sales of specialty machinery, sales by outside salesmen and sales to employees.
(d) 1998 does not include stores acquired from Hi/LO. Consolidated weighted average product sales per square foot were $207.