Stein Mart 2008 Annual Report Download - page 27

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The accompanying notes are an integral part of these consolidated financial statements.
F-3
Stein Mart, Inc.
Consolidated Statements of Operations
(In thousands, except for share amounts)
Year Ended
January 31, 2009
Year Ended
February 2, 2008
Year Ended
February 3, 2007
Net sales $1,326,469 $1,457,645 $1,501,296
Cost of merchandise sold 1,032,232 1,096,235 1,084,975
Gross profit 294,237 361,410 416,321
Selling, general and administrative expenses 394,767 388,572 376,611
Other income, net 20,401 21,376 18,214
Income (loss) from operations (80,129) (5,786) 57,924
Interest (expense) income, net (1,753) (794) 1,006
Income (loss) before income taxes (81,882) (6,580) 58,930
Income tax benefit (provision) 10,581 2,050 (21,754)
Net income (loss) $ (71,301) $ (4,530) $ 37,176
Net income (loss) per share:
Basic $(1.72) $(0.11) $0.86
Diluted $(1.72) $(0.11) $0.85
Weighted-average shares outstanding:
Basic 41,366 42,123 43,196
Diluted 41,366 42,123 43,877