O'Reilly Auto Parts 2008 Annual Report Download - page 41

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O’REILLY AUTOMOTIVE 2008 ANNUAL REPORT PG.39
CONSOL IDATED S TATEMENT S OF INCOME
(In thousands, except per share data)
Years ended December 31, 2008 2007 2006
Sales $ 3,576,553 $ 2,522,319 $ 2,283,222
Cost of goods sold, including warehouse and distribution expenses 1,948,627 1,401,859 1,276,511
Gross prot 1,627,926 1,120,460 1,006,711
Selling, general and administrative expenses 1,292,309 815,309 724,396
Operating income 335,617 305,151 282,315
Other income (expense), net:
Debt prepayment costs (7,157) -- --
Interim facility commitment fee (4,150) -- --
Interest expense (26,138) (3,723) (4,322)
Interest income 3,185 4,077 1,573
Other, net 1,175 1,983 2,699
Total other income (expense), net (33,085) (2,337) (50)
Income before income taxes 302,532 307,488 282,265
Provision for income taxes 116,300 113,500 104,180
Net income $ 186,232 $ 193,988 $ 178,085
Basic income per common share:
Net income per common share $ 1.50 $ 1.69 $ 1.57
Weighted-average common shares outstanding 124,526 114,667 113,253
Income per common share-assuming dilution:
Net income per common share-assuming dilution $ 1.48 $ 1.67 $ 1.55
Adjusted weighted-average common shares outstanding 125,413 116,080 115,119
See accompanying Notes to Consolidated Financial Statements.