Rayovac 2007 Annual Report Download - page 12

Download and view the complete annual report

Please find page 12 of the 2007 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 84

  • 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

10 SPECTRUM BRANDS | 2007 ANNUAL REPORT
The following selected historical fi nancial data is derived from our audited consolidated fi nancial statements. Only our Consolidated
Balance Sheets as of September 30, 2007 and 2006 and our Consolidated Statements of Operations, Consolidated Statements of
Shareholders’ Equity (Defi cit) and Comprehensive Income (Loss) and Consolidated Statements of Cash Flows for the years ended
September 30, 2007, 2006 and 2005 are included elsewhere in this Annual Report on Form 10-K. As of October 1, 2005, we began
reporting the results of operations of Nu-Gro Pro and Tech as discontinued operations. Additionally, we began reporting the results of
operations of our Home and Garden Business as discontinued operations as of October 1, 2006. Therefore, the presentation of all
historical continuing operations has been changed to exclude Nu-Gro Pro and Tech and our Home and Garden Business. 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) 2007(1) 2006(2) 2005(3) 2004(4) 2003(5)
Statement of Operations Data:
Net sales $ 1,994.5 $ 1,894.7 $ 1,762.2 $ 1,417.2 $ 922.1
Gross profi t 736.3 707.2 675.3 606.1 351.5
Operating (loss) income(6) (161.5) (319.1) 154.1 156.2 59.6
(Loss) income from continuing operations
before income taxes (356.4) (438.1) 45.1 90.5 23.0
(Loss) income from discontinued operations, net of tax(7) (184.6) (18.5) 17.2 (0.4) –
Net (loss) income(8)(9) (596.7) (434.0) 46.8 55.8 15.5
Restructuring and related charges – cost of goods sold $ 31.3 $ 22.5 $ 10.5 $ (0.8) $ 21.1
Restructuring and related charges – operating expenses 59.7 12.2 6.2 12.2 11.5
Other (income) expense, net(10) (0.3) (3.9) 1.4 – (0.6)
Interest expense $ 195.2 $ 123.0 $ 107.6 $ 65.7 $ 37.2
Per Share Data:
Net (loss) income per common share:
Basic $ (11.72) $ (8.77) $ 1.07 $ 1.67 $ 0.49
Diluted (11.72) (8.77) 1.03 1.61 0.48
Average shares outstanding:
Basic 50.9 49.5 43.7 33.4 31.8
Diluted 50.9 49.5 45.6 34.6 32.6
Cash Flow and Related Data:
Net cash (used) provided by operating activities $ (36.0) $ 44.5 $ 216.6 $ 96.1 $ 76.2
Capital expenditures(11) 22.1 54.9 56.7 26.9 26.1
Depreciation and amortization
(excluding amortization of debt issuance costs)(11) 77.4 70.5 57.3 40.6 35.0
Balance Sheet Data (at fi scal year end):
Cash and cash equivalents $ 69.9 $ 28.4 $ 29.9 $ 14.0 $ 105.6
Working capital(12) 779.4 397.2 490.6 251.9 269.8
Total assets 3,211.4 3,549.3 4,022.1 1,634.2 1,543.1
Total long-term debt, net of current maturities 2,416.9 2,234.5 2,268.0 806.0 870.5
Total debt 2,460.4 2,277.2 2,307.3 829.9 943.4
Total shareholders’ equity (103.8) 452.2 842.7 316.0 202.0
SELECTED FINANCIAL DATA
Spectrum Brands, Inc.