Sally Beauty Supply 2013 Annual Report Download - page 106
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SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES
Consolidated Statements of Earnings
Fiscal Years ended September 30, 2013, 2012 and 2011
(In thousands, except per share data)
2013 2012 2011
Net sales ......................................... $3,622,216 $3,523,644 $3,269,131
Cost of products sold and distribution expenses ............. 1,826,953 1,780,385 1,674,526
Gross profit ..................................... 1,795,263 1,743,259 1,594,605
Selling, general and administrative expenses ............... 1,202,709 1,179,206 1,086,414
Depreciation and amortization ......................... 72,192 64,698 59,722
Operating earnings ................................ 520,362 499,355 448,469
Interest expense ................................... 107,695 138,412 112,530
Earnings before provision for income taxes .............. 412,667 360,943 335,939
Provision for income taxes ............................ 151,516 127,879 122,214
Net earnings .................................... $ 261,151 $ 233,064 $ 213,725
Basic earnings per share ............................ $ 1.52 $ 1.27 $ 1.17
Diluted earnings per share .......................... $ 1.48 $ 1.24 $ 1.14
Weighted average shares:
Basic .......................................... 171,682 183,420 183,020
Diluted ........................................ 176,159 188,610 188,093
The accompanying notes to consolidated financial statements are an integral part of these financial
statements.
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