Pier 1 2010 Annual Report Download - page 59

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Year Ended February 28, 2009
(in thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Total
Net sales $ - $ 1,312,426 $ 14,674 $ (6,423) $ 1,320,677
Cost of sales (including buying and
store occupancy costs) - 950,710 13,244 (6,741) 957,213
Selling, general and administrative
(including depreciation and
amortization) 3,788 479,724 515 - 484,027
Operating income (loss) (3,788) (118,008) 915 318 (120,563)
Nonoperating (income) expenses (2,398) 10,881 (417) - 8,066
Income (loss) before income taxes (1,390) (128,889) 1,332 318 (128,629)
Provision (benefit) for income taxes - 637 (13) - 624
Net income (loss) (1,390) (129,526) 1,345 318 (129,253)
Net income (loss) from subsidiaries (128,181) 1,345 - 126,836 -
Net income (loss) $ (129,571) $ (128,181) $ 1,345 $ 127,154 $ (129,253)
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Year Ended March 1, 2008
(in thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Total
Net sales $ - $ 1,505,011 $ 38,155 $ (31,334) $ 1,511,832
Cost of sales (including buying and
store occupancy costs) - 1,068,371 35,466 (31,557) 1,072,280
Selling, general and administrative
(including depreciation and
amortization) 1,829 525,279 582 - 527,690
Operating income (loss) (1,829) (88,639) 2,107 223 (88,138)
Nonoperating (income) expenses (2,106) 7,999 (614) - 5,279
Income (loss) before income taxes 277 (96,638) 2,721 223 (93,417)
Provision for income taxes - 2,380 214 - 2,594
Net income (loss) 277 (99,018) 2,507 223 (96,011)
Net income (loss) from subsidiaries (96,511) 2,507 - 94,004 -
Net income (loss) $ (96,234) $ (96,511) $ 2,507 $ 94,227 $ (96,011)
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