Cabela's 2010 Annual Report Download - page 77

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67
CABELA’S INCORPORATED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in Thousands Except Earnings Per Share)
Fiscal Years
2010 2009 2008
Revenue:
Merchandise sales $ 2,412,486 $2,447,635 $2,380,655
Financial Services revenue 227,675 171,414 158,971
Other revenue 23,081 13,191 13,095
Total revenue 2,663,242 2,632,240 2,552,721
Cost of revenue:
Merchandise costs 1,566,165 1,601,136 1,539,157
Cost of other revenue 9,284 1,485 1,057
Total cost of revenue (exclusive of depreciation and amortization) 1,575,449 1,602,621 1,540,214
Selling, distribution, and administrative expenses 895,405 870,147 865,684
Impairment and restructuring charges 5,626 66,794 5,784
Operating income 186,762 92,678 141,039
Interest expense, net (27,442)(23,109)(29,658)
Other non-operating income, net 7,360 6,955 6,854
Income before provision for income taxes 166,680 76,524 118,235
Provision for income taxes 54,521 26,907 41,831
Net income $ 112,159 $49,617 $76,404
Earnings per basic share $ 1.65 $0.74 $1.15
Earnings per diluted share $ 1.62 $0.74 $1.14
Basic weighted average shares outstanding 67,791,782 67,007,656 66,384,004
Diluted weighted average shares outstanding 69,086,533 67,453,474 67,158,583
Refer to notes to consolidated financial statements.