Pier 1 2010 Annual Report Download - page 43

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Pier 1 Imports, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands except per share amounts)
Year Ended
2010 2009 2008
Net sales $ 1,290,852 $ 1,320,677 $ 1,511,832
Operating costs and expenses:
Cost of sales (including buying and store
occupancy costs) 850,438 957,213 1,072,280
Selling, general and administrative expenses 421,179 453,471 487,898
Depreciation and amortization 22,488 30,556 39,792
1,294,105 1,441,240 1,599,970
Operating loss (3,253) (120,563) (88,138)
Nonoperating (income) and expenses:
Interest and investment income (1,681) (4,250) (8,677)
Interest expense 23,726 14,592 15,916
Gain on retirement of debt (49,654) - -
Other income (7,695) (2,276) (1,960)
(35,304) 8,066 5,279
Income (loss) before income taxes 32,051 (128,629) (93,417)
Provision (benefit) for income taxes (54,796) 624 2,594
Net income (loss) $ 86,847 $ (129,253) $ (96,011)
Earnings (loss) per share:
Basic and diluted $ 0.86 $ (1.45) $ (1.09)
Average shares outstanding during period:
Basic and diluted 100,715 88,912 88,083
The accompanying notes are an integral part of these financial statements.
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