Rayovac 2012 Annual Report Download - page 90
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SPECTRUM BRANDS HOLDINGS, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
Years ended September 30, 2012, 2011 and 2010
(In thousands, except per share amounts)
2012 2011 2010
Net sales .................................................. $3,252,435 $3,186,916 $2,567,011
Cost of goods sold ........................................... 2,126,922 2,050,208 1,638,451
Restructuring and related charges ............................... 9,835 7,841 7,150
Gross profit ................................................ 1,115,678 1,128,867 921,410
Operating expenses:
Selling ................................................ 521,191 536,535 466,813
General and administrative ................................ 218,832 241,631 199,386
Research and development ................................ 33,087 32,901 31,013
Acquisition and integration related charges ................... 31,066 36,603 38,452
Restructuring and related charges ........................... 9,756 20,803 16,968
Intangible asset impairment ............................... — 32,450 —
813,932 900,923 752,632
Operating income ........................................... 301,746 227,944 168,778
Interest expense ............................................. 191,911 208,329 277,015
Other expense, net ........................................... 878 2,491 12,300
Income (loss) from continuing operations before reorganization items
and income taxes .......................................... 108,957 17,124 (120,537)
Reorganization items expense, net .............................. — — 3,646
Income (loss) from continuing operations before income taxes ........ 108,957 17,124 (124,183)
Income tax expense .......................................... 60,385 92,295 63,189
Income (loss) from continuing operations ........................ 48,572 (75,171) (187,372)
Loss from discontinued operations, net of tax ..................... — — (2,735)
Net income (loss) ........................................... $ 48,572 $ (75,171) $ (190,107)
Basic net income (loss) per common share:
Income (loss) from continuing operations ........................ $ 0.94 $ (1.47) $ (5.20)
Loss from discontinued operations .............................. — — (0.08)
Net income (loss) ........................................... $ 0.94 $ (1.47) $ (5.28)
Weighted average shares of common stock outstanding ............. 51,608 51,092 36,000
Diluted net income (loss) per common share:
Income (loss) from continuing operations ........................ $ 0.91 $ (1.47) $ (5.20)
Loss from discontinued operations .............................. — — (0.08)
Net income (loss) ........................................... $ 0.91 $ (1.47) $ (5.28)
Weighted average shares of common stock and common stock
equivalents outstanding ..................................... 53,309 51,092 36,000
Cash dividends declared per common share ....................... 1.00 — —
See accompanying notes to consolidated financial statements.
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