Rayovac 2014 Annual Report Download - page 87

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SPECTRUM BRANDS HOLDINGS, INC.
Consolidated Statements of Operations
Years ended September 30, 2014, 2013 and 2012
(Amounts in thousands, except per share figures)
2014 2013 2012
Net sales .................................................. $4,429,109 $4,085,581 $3,252,435
Cost of goods sold ........................................... 2,856,527 2,685,285 2,126,922
Restructuring and related charges ............................... 3,713 9,984 9,835
Gross profit ............................................ 1,568,869 1,390,312 1,115,678
Selling .................................................... 678,152 636,958 521,191
General and administrative .................................... 321,645 286,370 218,832
Research and development .................................... 47,855 43,334 33,087
Acquisition and integration related charges ....................... 20,102 48,445 31,066
Restructuring and related charges ............................... 19,182 24,028 9,756
Total operating expenses .................................. 1,086,936 1,039,135 813,932
Operating income ........................................... 481,933 351,177 301,746
Interest expense ............................................. 202,118 375,625 191,911
Other expense, net ........................................... 6,286 3,506 878
Income (loss) from continuing operations before income taxes ........ 273,529 (27,954) 108,957
Income tax expense .......................................... 59,023 27,359 60,385
Net income (loss) ........................................... 214,506 (55,313) 48,572
Less: Net income (loss) attributable to non-controlling interest ........ 414 (67) —
Net income (loss) attributable to controlling interest ................ $ 214,092 $ (55,246) $ 48,572
Basic earnings (loss) per share:
Weighted average shares of common stock outstanding ............. 52,634 52,034 51,608
Net income (loss) per share attributable to controlling interest ........ $ 4.07 $ (1.06) $ 0.94
Diluted earnings (loss) per share:
Weighted average shares and equivalents outstanding ............... 53,261 52,034 53,309
Net income (loss) per share attributable to controlling interest ........ $ 4.02 $ (1.06) $ 0.91
Cash dividends declared per common share ....................... $ 1.15 $ 0.75 $ 1.00
See accompanying notes which are an integral part of these consolidated financial statements.
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