Pier 1 2013 Annual Report Download - page 39

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Pier 1 Imports, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands except per share amounts)
Year Ended
2013 2012 2011
Net sales $ 1,704,885 $ 1,533,611 $ 1,396,470
Cost of sales 961,826 882,449 841,083
Gross profit 743,059 651,162 555,387
Selling, general and administrative expenses 513,085 475,162 431,900
Depreciation and amortization 30,988 21,240 19,739
Operating income 198,986 154,760 103,748
Nonoperating (income) and expenses:
Interest, investment income and other (2,757) (12,434) (5,164)
Interest expense 743 3,087 5,368
(2,014) (9,347) 204
Income before income taxes 201,000 164,107 103,544
Income tax provision (benefit) 71,556 (4,831) 3,419
Net income $ 129,444 $ 168,938 $ 100,125
Earnings per share:
Basic $ 1.22 $ 1.50 $ 0.86
Diluted $ 1.20 $ 1.48 $ 0.85
Average shares outstanding during period:
Basic 106,222 112,534 116,466
Diluted 108,259 114,390 117,484
The accompanying notes are an integral part of these financial statements.
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