O'Reilly Auto Parts 2004 Annual Report Download - page 3

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In thousands, except earnings per share data and operating data (a)
Year ended December 31 2004 2003 2002 2001 2000
Product Sales $1,721,241 $1,511,816 $1,312,490 $1,092,112 $890,421
Operating Income 190,458 165,275 138,301 113,831 90,029
Net Income 117,674 100,087 81,992 66,352 51,708
Working Capital 479,662 441,617 483,623 429,527 296,272
Total Assets 1,432,357 1,157,033 1,009,419 856,859 715,995
Long-Term Debt 100,322 120,977 190,470 165,618 90,463
Shareholders' Equity 947,817 784,285 650,524 556,291 463,731
Net Income Per Common Share
(assuming dilution) 2.11 1.84 1.53 1.26 1.00
Weighted-Average Common Share
(assuming dilution) 55,711 54,530 53,692 52,786 51,728
Stores At Year-End 1,249 1,109 981 875 672
Same-Store Sales Gain 6.8% 7.8% 3.7% 8.8% 5.0%
2004 FINANCIAL HIGHLIGHTS
In 2001, we set our 2-4-Your Future goal of reaching $2 billion in sales by December 31, 2005. In 2005, Team O’Reilly is revved up and geared
toward providing outstanding customer service, driving us to reach our goal of $2 billion in sales, this year.
Earnings per share, assuming dilution,
increased 14.7% over 2003.
Earnings Per Share (a)
(assuming dilution)
Continued focus on driving sales and
taking market share along with our
relentless watch over expenses, gave us a
17.6% increase in net income in
2004 over 2003.
Net Income (a)
(in millions)
As a result of our excellent customer
service, which drives sales and our
continued efforts in controlling expenses,
our operating margin for 2004 was 11.1%.
Operating Income (a)
(in millions)
20042003200220012000
$1.53
$2.11
$1.26
$1.84
$1.00
20042003200220012000
$82.0
$117.7
$66.4
$100.1
$51.7
20042003200220012000
$138.3
$190.5
$113.8
$165.3
$90.0
(a) 2004 figures are based on income before cumulative effect of accounting change.