Urban Outfitters 2009 Annual Report Download - page 52

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URBAN OUTFITTERS, INC.
Consolidated Statements of Income
(in thousands, except share and per share data)
Fiscal Year Ended January 31,
2009 2008 2007
Net sales .................................... $ 1,834,618 $ 1,507,724 $ 1,224,717
Cost of sales, including certain buying, distribution
and occupancy costs ......................... 1,121,140 930,952 772,796
Gross profit .............................. 713,478 576,772 451,921
Selling, general and administrative expenses ........ 414,043 351,827 287,932
Income from operations .................... 299,435 224,945 163,989
Interest income ............................... 11,504 9,390 6,531
Other income ................................ 694 575 353
Other expenses ............................... (2,143) (515) (715)
Income before income taxes ................. 309,490 234,395 170,158
Income tax expense ........................... 110,126 74,164 53,952
Net income .............................. $ 199,364 $ 160,231 $ 116,206
Net income per common share:
Basic ................................... $ 1.20 $ 0.97 $ 0.71
Diluted ................................. $ 1.17 $ 0.94 $ 0.69
Weighted average common shares outstanding:
Basic ................................... 166,793,062 165,305,207 164,679,786
Diluted ................................. 170,860,605 169,640,585 168,652,005
The accompanying notes are an integral part of these consolidated financial statements.
F-4