Rue 21 2010 Annual Report Download - page 52

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rue21, inc. and subsidiary
Consolidated Statements of Income
January 29,
2011
January 30,
2010
January 31,
2009
Fiscal Year Ended
(In thousands, except share and
per share data)
Net sales............................................... $634,728 $525,600 $391,414
Cost of goods sold (includes certain buying, occupancy and
distribution center expenses) .............................. 399,896 337,693 257,853
Gross profit ............................................ 234,832 187,907 133,561
Selling, general, and administrative expense ..................... 163,006 134,078 99,886
Depreciation and amortization expense . . ...................... 21,852 16,898 11,532
Income from operations.................................... 49,974 36,931 22,143
Interest expense, net ...................................... 202 532 1,477
Income before income taxes ................................ 49,772 36,399 20,666
Provision for income taxes ................................. 19,528 14,382 8,027
Net income ............................................. $ 30,244 $ 22,017 $ 12,639
Basic income per common share ............................. $ 1.25 $ 0.99 $ 0.58
Diluted income per common share............................ $ 1.21 $ 0.96 $ 0.55
Weighted average basic common shares outstanding............... 24,277 22,267 21,914
Weighted average diluted common shares outstanding ............. 25,002 23,037 22,814
See accompanying notes to the consolidated financial statements.
48