GameStop Reports Third Quarter 2014 Results
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GameStop Corp.
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Condensed Consolidated Statements of Operations
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(in millions, except per share data)
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(unaudited)
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39 weeks
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39 weeks
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ended
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ended
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Nov 1, 2014
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Nov 2, 2013
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Net sales
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$
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5,819.9
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$
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5,355.7
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Cost of sales
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4,020.4
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3,697.6
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Gross profit
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1,799.5
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1,658.1
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Selling, general and administrative
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expenses
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1,450.7
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1,319.3
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Depreciation and amortization
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116.4
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123.7
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Operating earnings
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232.4
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215.1
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Interest expense, net
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4.8
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2.9
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Earnings before income tax expense
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227.6
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212.2
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Income tax expense
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78.6
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78.5
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Net income
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$
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149.0
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$
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133.7
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Net income per common share:
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Basic
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$
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1.31
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$
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1.14
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Diluted
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$
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1.30
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$
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1.12
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Dividends per common share
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$
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0.99
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$
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0.825
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Weighted average common shares
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outstanding:
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Basic
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113.5
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117.7
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Diluted
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114.4
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118.9
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Percentage of Net Sales:
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Net sales
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100.0
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%
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100.0
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%
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Cost of sales
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69.1
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%
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69.0
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%
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Gross profit
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30.9
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%
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31.0
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%
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Selling, general and administrative
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expenses
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24.9
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%
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24.6
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%
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Depreciation and amortization
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2.0
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%
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2.3
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%
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Operating earnings
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4.0
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%
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4.1
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%
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Interest expense, net
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0.1
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%
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0.1
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%
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Earnings before income tax expense
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3.9
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%
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4.0
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%
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Income tax expense
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1.3
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%
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1.5
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%
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Net income
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2.6
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%
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2.5
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%
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