Pier 1 2008 Annual Report Download - page 51

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CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Year Ended March 3, 2007
(In thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Total
Net sales . .................... $ — $1,615,951 $42,780 $ (35,515) $1,623,216
Cost of sales (including buying
and store occupancy costs) .... — 1,145,765 39,114 (35,622) 1,149,257
Selling, general and administrative
(including depreciation and
amortization) .............. 1,585 697,075 1,529 — 700,189
Operating income (loss) ........ (1,585) (226,889) 2,137 107 (226,230)
Nonoperating (income) expenses.... (3,660) 6,251 (698) — 1,893
Income (loss) from continuing
operations before income
taxes .................... 2,075 (233,140) 2,835 107 (228,123)
Provision (benefit) for income
taxes . . .................... — (1,101) 216 — (885)
Net income (loss) from continuing
operations ................. 2,075 (232,039) 2,619 107 (227,238)
Net income (loss) from
subsidiaries ................ (229,827) 2,212 — 227,615 —
Discontinued operations:
Loss from discontinued
operations ................. — — (638) — (638)
Benefit for income taxes ........ — — (231) — (231)
Net loss from discontinued
operations ............... — — (407) — (407)
Net income (loss) ............... $(227,752) $ (229,827) $ 2,212 $227,722 $ (227,645)
49
Pier 1 Imports, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)