Red Lobster 1999 Annual Report Download - page 6

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Consolidated Statements
of Earnings (Loss)
27
Fiscal Year Ended
(In thousands, except per share data) May 30, 1999 May 31, 1998 May 25, 1997
Sales $ 3,458,107)$ 3,287,017 $ 3,171,810)
Costs and Expenses:
Cost of sales:
Food and beverages 1,133,705)1,083,629 1,077,316)
Restaurant labor 1,117,401)1,062,490 1,017,315)
Restaurant expenses 493,811)482,311 481,348)
Total Cost of Sales $ 2,744,917)$ 2,628,430 $ 2,575,979)
Selling, general and administrative 360,909)358,542 361,263)
Depreciation and amortization 125,327)126,289 136,876)
Interest, net 19,540)20,084 22,291)
Restructuring and asset impairment expense or (credit) (8,461) 229,887)
Total Costs and Expenses $ 3,242,232)$ 3,133,345 $ 3,326,296)
Earnings (Loss) before Income Taxes 215,875)153,672 (154,486)
Income Taxes 75,337)51,958 (63,457)
Net Earnings (Loss) $ 140,538)$ 101,714 $ (91,029)
Net Earnings (Loss) per Share:
Basic $ 1.02)$ 0.69 $ (0.59)
Diluted $ 0.99)$ 0.67 $ (0.59)
Average Number of Common Shares Outstanding:
Basic 137,300)148,300 155,600)
Diluted 141,400)151,400 155,600)
See accompanying notes to consolidated financial statements.