Rayovac 2008 Annual Report Download - page 34

Table of Contents
Index to Financial Statements
ITEM 6. SELECTED FINANCIAL DATA
The following selected historical financial data is derived from our audited consolidated financial statements. Only our Consolidated Balance Sheets as of
September 30, 2008 and 2007 and our Consolidated Statements of Operations, Consolidated Statements of Shareholders’ Equity (Deficit) and Comprehensive
Income (Loss) and Consolidated Statements of Cash Flows for the years ended September 30, 2008, 2007 and 2006 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. We also began reporting
the results of operations of the Canadian division of our Home and Garden Business as discontinued operations as of October 1, 2006, which business was sold
on November 1, 2007. Additionally, we decided in the second quarter of Fiscal 2008 to present the Home and Garden Business as continuing operations.
Therefore, the presentation of all historical continuing operations has been changed to exclude Nu-Gro Pro and Tech and the Canadian division of our Home and
Garden Business but to include the remaining portion of the Home and Garden Business. The following selected financial data should be read in conjunction with
our consolidated financial 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,
2008(1) 2007(2) 2006(3) 2005(4) 2004(5)
(In millions, except per share data)
Statement of Operations Data:
Net sales $ 2688.0 $ 2,564.7 $ 2,462.2 $ 2,247.4 $ 1,417.2
Gross profit 968.6 933.7 932.0 858.4 606.1
Operating (loss) income(6) (711.7) (245.5) (283.9) 197.2 156.2
(Loss) income from continuing operations before income taxes (941.9) (500.9) (455.7) 63.8 90.5
(Loss) income from discontinued operations, net of tax(7) (1.2) (40.0) (5.8) 5.7 (0.4)
Net (loss) income(8)(9)(10) (931.5) (596.7) (434.0) 46.8 55.8
Restructuring and related charges—cost of goods sold $ 16.5 $ 31.3 $ 21.1 $ 10.5 $ (0.8)
Restructuring and related charges—operating expenses 22.8 66.7 33.6 15.8 12.2
Other expense (income), net(11) 1.2 (0.3) (4.1) (0.7) —
Interest expense $ 229.0 $ 255.8 $ 175.9 $ 134.1 $ 65.7
Per Share Data:
Net (loss) income per common share:
Basic $ (18.29) $ (11.72) $ (8.77) $ 1.07 $ 1.67
Diluted (18.29) (11.72) (8.77) 1.03 1.61
Average shares outstanding:
Basic 50.9 50.9 49.5 43.7 33.4
Diluted(12) 50.9 50.9 49.5 45.6 34.6
Cash Flow and Related Data:
Net cash (used) provided by operating activities $ (10.2) $ (32.6) $ 44.5 $ 216.6 $ 96.1
Capital expenditures(13) 21.6 24.3 59.9 62.8 26.9
Depreciation and amortization (excluding amortization of debt issuance
costs)(13) 90.9 77.4 85.4 68.6 40.6
Balance Sheet Data (at fiscal year end):
Cash and cash equivalents $ 104.8 $ 69.9 $ 28.4 $ 29.9 $ 14.0
Working capital(14) 371.5 370.2 397.2 490.6 251.9
Total assets 2,247.5 3,211.4 3,549.3 4,022.1 1,634.2
Total long-term debt, net of current maturities 2,474.8 2,416.9 2,234.5 2,268.0 806.0
Total debt 2,523.4 2,460.4 2,277.2 2,307.3 829.9
Total shareholders’ (deficit) equity (1,027.2) (103.8) 452.2 842.7 316.0
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Source: Spectrum Brands, Inc, 10-K, December 10, 2008