Supercuts 2004 Annual Report Download - page 27

Download and view the complete annual report

Please find page 27 of the 2004 Supercuts annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 148

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

Table of Contents
Item 6. Selected Financial Data
The following table sets forth, in thousands (except per share data), for the periods indicated, selected financial data derived from the
Company’s Consolidated Financial Statements in Item 8.
21
2004
2003
2002
2001
2000
Revenues
$
1,923,143
$
1,684,530
$
1,454,191
$
1,311,621
$
1,142,993
Operating income
180,718
158,940
133,864
109,281
97,216
(a)
Net income
(d)
105,478
86,675
72,054
(b)
53,088
49,654
(a)
Net income per diluted share
2.29
1.92
1.63
1.26
1.19
Total assets
1,271,859
1,112,955
957,190
736,505
628,355
Long
-
term debt, including current portion
301,143
301,757
299,016
261,558
234,601
Dividends declared
$
0.14
$
0.12
$
0.12
$
0.12
$
0.12
(c)
(a)
The following information is provided to facilitate comparisons of operating income and net income. Fiscal year 2000 operating income
was decreased by $2,940 related primarily to merger and restructuring charges. These items reduced fiscal year 2000 net income by
$2,726.
(b)
An income tax benefit increased reported net income by approximately $1.8 million in fiscal year 2002. See Note 8 to the Consolidated
Financial Statements.
(c)
In addition, Supercuts UK declared dividends of $367 during fiscal year 2000.
(d)
Effective July 1, 2001, Regis changed its accounting to discontinue the amortization of goodwill. In fiscal year 2001 and 2000, goodwill
amortization reduced reported net income by $8,866 and $7,741, respectively.