Lowe's 2005 Annual Report Download - page 44

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42฀
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฀ L O W E ’ S ฀ ฀2 0 0 5 ฀ ฀A N N U A L ฀ ฀R E P O RT
(In฀millions,฀except฀per฀share฀data)฀ ฀ ฀ ฀ ฀ ฀ ฀ 2005*฀ 2004฀ 2003฀ 2002฀ 2001
Selected฀statement฀of฀earnings฀data:
฀ Net฀sales฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ $
฀
43,243฀ $
฀
36,464฀ $
฀
30,838฀ $
฀
26,112฀ $
฀
21,714
฀ Gross฀margin฀ ฀ ฀ ฀ ฀ ฀ ฀ 14,800฀ 12,256฀ 9,569฀ 7,925฀ 6,265
฀ Earnings฀from฀continuing฀operations฀ ฀ ฀ ฀ ฀ ฀ 2,771฀ 2,176฀ 1,829฀ 1,479฀ 969
฀ Earnings฀from฀discontinued฀operations,฀net฀of฀tax฀ ฀ ฀ ฀ ฀ –฀ –฀ 15฀ 12฀ 13
฀ Net฀earnings฀ ฀ ฀ ฀ ฀ ฀ ฀ 2,771฀ 2,176฀ 1,844฀ 1,491฀ 982
฀ Basic฀earnings฀per฀share฀–฀continuing฀operations฀ ฀ ฀ ฀ ฀ 3.56฀ 2.80฀ 2.33฀ 1.89฀ 1.25
฀ Basic฀earnings฀per฀share฀–฀discontinued฀operations฀ ฀ ฀ ฀ ฀ –฀ –฀ 0.02฀ 0.02฀ 0.02
฀ Basic฀earnings฀per฀share฀ ฀ ฀ ฀ ฀ ฀ ฀ 3.56฀ 2.80฀ 2.35฀ 1.91฀ 1.27
฀ Diluted฀earnings฀per฀share฀–฀continuing฀operations฀ ฀ ฀ ฀ ฀ 3.46฀ 2.71฀ 2.26฀ 1.84฀ 1.21
฀ Diluted฀earnings฀per฀share฀–฀discontinued฀operations฀ ฀ ฀ ฀ ฀ –฀฀ –฀ 0.02฀ 0.02฀ 0.02
฀ Diluted฀earnings฀per฀share฀ ฀ ฀ ฀ ฀ ฀ ฀ 3.46฀ 2.71฀ 2.28฀ 1.86฀ 1.23
฀ Dividends฀per฀share฀ ฀ ฀ ฀ ฀ ฀ ฀ $฀฀ ฀ 0.22฀ $฀฀ ฀ 0.15฀ $฀฀ ฀ 0.11฀ $฀฀ ฀ 0.09฀ $฀฀ ฀ 0.08
Selected฀balance฀sheet฀data:
฀ Total฀assets฀฀ ฀ ฀ ฀ ฀ ฀ ฀ $฀24,682฀ $฀21,138฀ $฀18,695฀ $฀15,796฀ $฀13,546
฀ Long-term฀debt,฀excluding฀current฀maturities฀ ฀ ฀ ฀ ฀ ฀ $฀฀ 3,499฀฀ $฀฀ 3,060฀฀ $฀฀ 3,678฀฀ $฀฀ 3,736฀฀ $฀฀ 3,734฀
Selected฀Quarterly฀Data:
(In฀millions,฀except฀per฀share฀data)฀฀ First฀ Second฀ Third฀ Fourth*
2005
Net฀sales฀ ฀ ฀ $฀9,913฀฀ $฀11,929฀฀ $฀10,592฀฀ $฀10,808
Gross฀margin฀ ฀ 3,404฀ 4,026฀ 3,584฀ 3,786
Net฀earnings฀ ฀ 590฀ 838฀ 649฀ 694
Basic฀earnings฀per฀share฀ 0.76฀ 1.08฀ 0.83฀ 0.89
Diluted฀earnings฀per฀share฀ $฀฀ 0.74฀ $฀฀ ฀ 1.05฀฀ $฀฀ ฀ 0.81฀฀ $฀฀ ฀ 0.87
(In฀millions,฀except฀per฀share฀data)฀฀ First฀ Second฀ Third฀ Fourth
2004
Net฀sales฀ ฀ ฀ $
฀
8,681฀฀ $
฀
10,169฀฀ $
฀
฀ 9,064฀฀ $
฀
฀ 8,550
Gross฀margin฀ ฀ 2,860฀ 3,378฀ 3,040฀ 2,978
Net฀earnings฀ ฀ 452฀ 700฀ 516฀ 508
Basic฀earnings฀per฀share฀ 0.58฀ 0.90฀ 0.67฀ 0.66
Diluted฀earnings฀per฀share฀ $
฀
฀ 0.56฀฀ $
฀
฀ ฀ 0.87฀฀ $
฀
฀ ฀ 0.65฀฀ $
฀
฀ ฀ 0.64
Note:฀The฀selected฀financial฀data฀has฀been฀adjusted฀to฀present฀the฀2003฀disposal฀of฀the฀Contractor฀Yards฀as฀a฀discontinued฀operation฀for฀all฀periods.
*฀The฀fourth฀quarter฀of฀fiscal฀2005฀contained฀an฀additional฀week.฀Therefore฀fiscal฀2005฀contained฀53฀weeks,฀while฀all฀other฀years฀contained฀52฀weeks.
Lowe’s฀Companies,฀Inc.
Selected฀Financial฀Data฀(Unaudited)