Pier 1 2007 Annual Report Download - page 59

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CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Year Ended February 26, 2005
(In thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Total
Net sales . .................... $ — $1,820,003 $61,934 $(56,594) $1,825,343
Cost of sales (including buying
and store occupancy costs) .... — 1,124,380 53,808 (56,491) 1,121,697
Selling, general and administrative
(including depreciation and
amortization) .............. 1,332 602,667 1,398 — 605,397
Operating income (loss) ........ (1,332) 92,956 6,728 (103) 98,249
Nonoperating (income) expenses.... 446 (1,828) 482 — (900)
Income (loss) from continuing
operations before income
taxes .................... (1,778) 94,784 6,246 (103) 99,149
Provision for income taxes ........ — 35,313 1,071 — 36,384
Net income (loss) from continuing
operations ................. (1,778) 59,471 5,175 (103) 62,765
Net income (loss) from
subsidiaries ................ 62,338 2,867 — (65,205) —
Discontinued operations:
Loss from discontinued
operations ................. — — (2,308) — (2,308)
Benefit for income taxes ........ — — — — —
Net loss from discontinued
operations ............... — — (2,308) — (2,308)
Net income (loss) ............... $60,560 $ 62,338 $ 2,867 $(65,308) $ 60,457
57
Pier 1 Imports, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)