Sunbeam 2005 Annual Report Download - page 39

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Jarden Corporation
Consolidated Statements of Income
(in thousands, except share and per share data)
Years Ended December 31,
2005 2004 2003
Net sales ..................................................... $3,189,066 $838,609 $587,657
Cost of sales .............................................. 2,402,228 563,210 374,614
Selling, general and administrative expenses (including non-cash
compensation of $62,368, $32,455 and $21,899 for the years
ended December 31, 2005, 2004 and 2003, respectively) ....... 571,732 179,316 141,593
Reorganization and acquisition-related integration costs .......... 29,074 — —
Operating earnings ............................................. 186,032 96,083 71,450
Interest expense, net ........................................... 84,318 27,608 19,184
Loss on early extinguishment of debt ............................. 6,046 — —
Income before taxes ........................................... 95,668 68,475 52,266
Income tax provision ........................................... 34,952 26,041 20,488
Net income ................................................... 60,716 42,434 31,778
Paid-in-kind dividends on Series B and C preferred stock ............ (9,688) — —
Charges from beneficial conversions of Series B and C preferred
stock ...................................................... (38,952) — —
Income available to common stockholders ......................... $ 12,076 $ 42,434 $ 31,778
Basic earnings per share ........................................ $ 0.23 $ 1.03 $ 0.93
Diluted earnings per share ...................................... $ 0.22 $ 0.99 $ 0.90
Weighted average shares outstanding (in millions):
Basic .................................................... 52.9 41.0 34.0
Diluted .................................................. 54.7 42.7 35.3
The accompanying notes are an integral part of the consolidated financial statements.
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