O'Reilly Auto Parts 2003 Annual Report Download - page 9

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page 7
Net income represents more than sales less all expenses and adjustments. It’s a critical metric of performance that is
near and dear to all O’Reilly Team Members and the reward for a job well-done. Our team knows that taking care of
our customers each day and watching our pennies drives net income.
net income
(dollars in millions)
Operating income refers to product sales, less cost of goods sold and operating expenses. Our goal is for operating
income, as a percentage of sales, to be 11% or greater. Our team is committed to achieving this goal by offering excellent
customer service to drive sales, coupled with relentless expense control.
2003200220012000
1999
$165.3
$138.3
$113.8
$90.0
$76.9
operating income
(dollars in millions)
5-year compound annual growth rate: 23.8%
5-year compound annual growth rate: 26.6%