Cabela's 2006 Annual Report Download - page 65

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61
CABELA’S INCORPORATED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands Except Earnings Per Share)
Fiscal Years
2006 2005 2004
REVENUE:
Merchandise sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,908,801 $ 1,664,272 $ 1,474,415
Financial services revenue........................... 137,423 105,831 69,060
Other revenue..................................... 17,300 29,558 12,499
Total revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,063,524 1,799,661 1,555,974
COST OF REVENUE:
Cost of merchandise sales . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,199,851 1,044,028 918,206
Cost of other revenue ............................... 4,548 20,294 7,459
Total cost of revenue (exclusive of depreciation and
amortization). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,204,399 1,064,322 925,665
SELLING, GENERAL AND ADMINISTRATIVE
EXPENSES ...................................... 715,380 620,376 533,094
OPERATING INCOME ............................... 143,745 114,963 97,215
OTHER INCOME (EXPENSE):
Interest income.................................... 1,821 672 601
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (17,947 ) (10,928 ) (8,178 )
Other income, net (Note 8) .......................... 9,637 10,663 10,443
Total other income (expense) . . . . . . . . . . . . . . . . . . . . . . (6,489) 407 2,866
INCOME BEFORE PROVISION FOR INCOME TAXES . . . . 137,256 115,370 100,081
PROVISION FOR INCOME TAXES (Note 9). . . . . . . . . . . . . . 51,471 42,801 35,085
NET INCOME....................................... $ 85,785 $ 72,569 $ 64,996
EARNINGS PER COMMON SHARE (Note 1):
Basic............................................ $ 1.32 $ 1.12 $ 1.06
Diluted .......................................... $ 1.29 $ 1.10 $ 1.03
WEIGHTED AVERAGE SHARES OUTSTANDING (Note 1):
Basic............................................ 65,221,339 64,668,973 61,277,352
Diluted .......................................... 66,643,856 66,268,374 63,277,400
See notes to consolidated financial statements.