Rayovac 2005 Annual Report Download - page 36

ITEM 6. SELECTED FINANCIAL DATA
The following selected historical fi nancial data is derived from our audited consolidated fi nancial statements.
Only the most recent three fi scal years audited statements are included elsewhere in this Annual Report on
Form 10-K. The following selected fi nancial data should be read in conjunction with our consolidated fi nancial
statements and notes thereto and the information contained in “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” included elsewhere herein.
Fiscal Year Ended September 30,
(In millions, except per share data) 2005(1) 2004(2) 2003(3) 2002(4) 2001(5)
Statement of Operations Data:
Net sales(6) $2,359.5 $1,417.2 $ 922.1 $572.7 $616.2
Gross profi t(6) 883.9 606.1 351.5 237.4 232.9
Operating income(7) 204.5 156.2 59.6 63.0 54.4
Income from continuing operations before income taxes(8) 71.3 90.5 23.0 45.7 17.5
Loss from discontinued operations – 0.4 – – –
Net income 46.8 55.8 15.5 29.2 11.5
Restructuring and related charges – cost of goods sold $ 10.5 $ (0.8) $ 21.1 $ 1.2 $ 22.1
Restructuring and related charges – operating expenses 15.8 12.2 11.5 – 0.2
Other (income) expense, net(8) (0.9) – (0.6) 1.3 9.7
Interest expense $ 134.1 $ 65.7 $ 37.2 $ 16.0 $ 27.2
Per Share Data:
Net income per common share:
Basic $ 1.07 $ 1.67 $ 0.49 $ 0.92 $ 0.40
Diluted 1.03 1.61 0.48 0.90 0.39
Average shares outstanding:
Basic 43.7 33.4 31.8 31.8 28.7
Diluted 45.6 34.6 32.6 32.4 29.7
Cash Flow and Related Data:
Net cash provided by operating activities $ 227.3 $ 105.2 $ 76.3 $ 66.8 $ 18.0
Capital expenditures 63.9 26.9 26.1 15.6 19.7
Depreciation and amortization (excluding amortization
of debt issuance costs)(7) 60.9 35.3 31.6 19.0 21.1
Balance Sheet Data (at fi scal year end):
Cash and cash equivalents $ 29.9 $ 14.0 $ 105.6 $ 7.6 $ 11.4
Working capital(9) 490.6 251.9 269.8 140.5 158.5
Total assets(6) 4,022.1 1,634.2 1,543.1 518.6 566.5
Total long-term debt, net of current maturities 2,268.0 806.0 870.5 188.5 233.5
Total debt 2,307.3 829.9 943.4 201.9 258.0
Total shareholders’ equity 842.7 316.0 202.0 174.8 157.6
(1) Fiscal 2005 selected fi nancial data is impacted by two signifi cant acquisitions completed during the fi scal year. The United acquisition was completed on February 7, 2005, and the Tetra
acquisition was completed on April 29, 2005. See further discussion of acquisitions in Item 1: Business, and in Note 16, Acquisitions, of the Notes to Consolidated Financial Statements
included in this Annual Report on Form 10-K.
Fiscal 2005 includes restructuring and related charges – cost of goods sold of $10.5 million, and restructuring and related charges – operating expenses of $15.8 million. See Note 15,
Restructuring and Related Charges, of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K for further discussion.
(2) Fiscal 2004 selected fi nancial data is impacted by two acquisitions completed during the fi scal year. The Ningbo acquisition was completed on March 31, 2004 and the Microlite acquisition
was completed on May 28, 2004. See further discussion of acquisitions in Item 1: Business, and in Note 16, Acquisitions, of the Notes to Consolidated Financial Statements included in this
Annual Report on Form 10-K.
Fiscal 2004 includes restructuring and related charges – cost of goods sold of $(0.8) million, and restructuring and related charges – operating expenses of $12.2 million. See Note 15,
Restructuring and Related Charges, of the Notes to Consolidated Financial Statements included in this Annual Report on Form 10-K for further discussion.
2005 Form 10-K Annual Report
Spectrum Brands, Inc.
SPECTRUM BRANDS, INC.16