Pier 1 2008 Annual Report Download - page 52

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CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Year Ended February 25, 2006
(In thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Total
Net sales . .................... $ — $1,770,323 $ 59,734 $(53,356) $1,776,701
Cost of sales (including buying
and store occupancy costs) .... — 1,174,228 55,161 (54,378) 1,175,011
Selling, general and administrative
(including depreciation and
amortization) .............. 1,163 641,833 1,506 — 644,502
Operating income (loss) ........ (1,163) (45,738) 3,067 1,022 (42,812)
Nonoperating (income) expenses.... 711 (2,288) 677 — (900)
Income (loss) from continuing
operations before income
taxes .................... (1,874) (43,450) 2,390 1,022 (41,912)
Provision (benefit) for income
taxes . . .................... — (14,842) 401 — (14,441)
Net income (loss) from continuing
operations ................. (1,874) (28,608) 1,989 1,022 (27,471)
Net income (loss) from
subsidiaries ................ (38,952) (10,344) — 49,296 —
Discontinued operations:
Loss from discontinued
operations ................. — — (17,583) — (17,583)
Benefit for income taxes ........ — — (5,250) — (5,250)
Net loss from discontinued
operations ............... — — (12,333) — (12,333)
Net income (loss) ............... $(40,826) $ (38,952) $(10,344) $ 50,318 $ (39,804)
50
Pier 1 Imports, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)