Pier 1 2011 Annual Report Download - page 42

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Pier 1 Imports, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands except per share amounts)
Year Ended
2011 2010 2009
Net sales $ 1,396,470 $ 1,290,852 $ 1,320,677
Operating costs and expenses:
Cost of sales (including buying and store
occupancy costs) 841,083 850,438 957,213
Selling, general and administrative expenses 431,900 421,179 453,471
Depreciation and amortization 19,739 22,488 30,556
1,292,722 1,294,105 1,441,240
Operating income (loss) 103,748 (3,253) (120,563)
Nonoperating (income) and expenses:
Interest and investment income (1,506) (1,681) (4,250)
Interest expense 5,368 23,726 14,592
Gain on retirement of debt - (49,654) -
Other income (3,658) (7,695) (2,276)
204 (35,304) 8,066
Income (loss) before income taxes 103,544 32,051 (128,629)
Income tax provision (benefit) 3,419 (54,796) 624
Net income (loss) $ 100,125 $ 86,847 $ (129,253)
Earnings (loss) per share:
Basic $ 0.86 $ 0.86 $ (1.45)
Diluted $ 0.85 $ 0.86 $ (1.45)
Average shares outstanding during period:
Basic 116,466 100,715 88,912
Diluted 117,484 100,715 88,912
The accompanying notes are an integral part of these financial statements.
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