Rayovac 2013 Annual Report Download - page 89
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SPECTRUM BRANDS HOLDINGS, INC.
Consolidated Statements of Operations
Years ended September 30, 2013, 2012 and 2011
(Amounts in thousands, except per share figures)
2013 2012 2011
Net sales .................................................. $4,085,581 $3,252,435 $3,186,916
Cost of goods sold ........................................... 2,685,285 2,126,922 2,050,208
Restructuring and related charges ............................... 9,984 9,835 7,841
Gross profit ............................................ 1,390,312 1,115,678 1,128,867
Selling .................................................... 636,958 521,191 536,535
General and administrative .................................... 286,370 218,832 241,631
Research and development .................................... 43,334 33,087 32,901
Acquisition and integration related charges ....................... 48,445 31,066 36,603
Restructuring and related charges ............................... 24,028 9,756 20,803
Intangible asset impairment ................................... — — 32,450
Total operating expenses .................................. 1,039,135 813,932 900,923
Operating income ........................................... 351,177 301,746 227,944
Interest expense ............................................. 375,625 191,911 208,329
Other expense, net ........................................... 3,506 878 2,491
(Loss) income from continuing operations before income taxes ....... (27,954) 108,957 17,124
Income tax expense .......................................... 27,359 60,385 92,295
Net (loss) income ........................................... (55,313) 48,572 (75,171)
Less: Net loss attributable to noncontrolling interest, net of tax ....... (67) — —
Net (loss) income attributable to controlling interest ................ $ (55,246) $ 48,572 $ (75,171)
Basic earnings per share:
Weighted average shares of common stock outstanding ............. 52,034 51,608 51,092
Net (loss) income per share attributable to controlling interest ........ $ (1.06) $ 0.94 $ (1.47)
Diluted earnings per share:
Weighted average shares of common stock outstanding ............. 52,034 53,309 51,092
Net (loss) income per share attributable to controlling interest ........ $ (1.06) $ 0.91 $ (1.47)
Cash dividends declared per common share ....................... $ 0.75 $ 1.00 $ —
See accompanying notes which are an integral part of these consolidated financial statements.
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