Petsmart 2006 Annual Report Download - page 60

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PetSmart, Inc. and Subsidiaries
Consolidated Statements of Operations and Comprehensive Income
January 28,
2007
January 29,
2006
January 30,
2005
Fiscal Year Ended
(In thousands, except per share data)
Net sales . . .......................................... $4,233,857 $3,760,499 $3,363,452
Cost of sales ......................................... 2,926,087 2,587,498 2,324,865
Gross profit .......................................... 1,307,770 1,173,001 1,038,587
Operating, general and administrative expenses ................ 985,936 861,621 781,248
Operating income ...................................... 321,834 311,380 257,339
Interest income ........................................ 10,551 9,037 4,791
Interest expense ....................................... (42,268) (31,208) (21,326)
Income before income tax expense ......................... 290,117 289,209 240,804
Income tax expense .................................... 105,048 106,719 83,351
Net income .......................................... 185,069 182,490 157,453
Other comprehensive income (loss), net of income tax:
Foreign currency translation adjustments ................... (478) (12) 160
Comprehensive income ................................ $ 184,591 $ 182,478 $ 157,613
Earnings per common share:
Basic . . . .......................................... $ 1.36 $ 1.30 $ 1.09
Diluted . . .......................................... $ 1.33 $ 1.25 $ 1.05
Weighted average shares outstanding:
Basic . . . .......................................... 135,836 140,791 143,888
Diluted . . .......................................... 139,537 145,577 149,652
Dividends declared per common share....................... $ 0.12 $ 0.12 $ 0.12
The accompanying notes are an integral part of these consolidated financial statements.
F-4