Rayovac 2006 Annual Report Download - page 76

Download and view the complete annual report

Please find page 76 of the 2006 Rayovac annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

64 SPECTRUM BRANDS | 2006 ANNUAL REPORT
Consolidated Statements of Operations
Years ended September 30, 2006, 2005 and 2004
(in thousands, except per share amounts) 2006 2005 2004
Net sales $2,551,752 $2,307,154 $1,417,186
Cost of goods sold 1,576,066 1,427,135 811,894
Restructuring and related charges 22,452 10,496 (781)
Gross profi t 953,234 869,523 606,073
Operating expenses:
Selling 557,299 475,640 293,118
General and administrative 181,975 152,651 121,319
Research and development 30,568 29,339 23,192
Restructuring and related charges 33,642 15,820 12,224
Goodwill and intangibles impairment 432,978 – –
1,236,462 673,450 449,853
Operating (loss) income (283,228) 196,073 156,220
Interest expense 176,955 134,053 65,702
Other income, net (4,097) (856) (14)
(Loss) income from continuing operations before income taxes (456,086) 62,876 90,532
Income tax (benefi t) expense (27,634) 21,513 34,372
(Loss) income from continuing operations (428,452) 41,363 56,160
(Loss) income from discontinued operations, net of tax (5,520) 5,469 (380)
Net (loss) income $ (433,972) $ 46,832 $ 55,780
Basic net income per common share:
(Loss) income from continuing operations $ (8.66) $ 0.95 $ 1.68
(Loss) income from discontinued operations (0.11) 0.12 (0.01)
Net (loss) income $ (8.77) $ 1.07 $ 1.67
Weighted average shares of common stock outstanding 49,459 43,716 33,433
Diluted net income per common share:
(Loss) income from continuing operations $ (8.66) $ 0.91 $ 1.62
(Loss) income from discontinued operations (0.11) 0.12 (0.01)
Net (loss) income $ (8.77) $ 1.03 $ 1.61
Weighted average shares of common stock and equivalents outstanding 49,459 45,631 34,620
See accompanying notes to consolidated financial statements.
2006 Form 10-K Annual Report
Spectrum Brands, Inc.