EX-99.1 3 dex991.htm ITEM 6. SELECTED FINANCIAL DATA Item 6. Selected Financial Data

Exhibit 99.1

 

Item 6. SELECTED FINANCIAL DATA

The following table sets forth selected consolidated financial data for the periods indicated and should be read in conjunction with and is qualified by reference to “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, the consolidated financial statements, the notes thereto and the other financial data contained in Items 7 and 8 of this report on Form 10-K.

Income Statement Data:

 

     Year ended December 31,  
     2004     2005     2006     2007     2008  

Net sales

   $ 580,744      $ 749,415      $ 944,108      $ 1,189,822      $ 1,647,004   

Cost of goods sold

     506,413        627,368        745,721        941,060        1,224,899   
                                        

Gross profit

     74,331        122,047        198,387        248,762        422,105   

Sales, general and administrative expenses

     45,946        70,404        106,805        130,677        223,373   
                                        

Operating income

     28,385        51,643        91,582        118,085        198,732   

Non-operating income / (expense), net

          

Interest income / (expense), net

     (2,115     (15,828     (31,750     (35,829     (-53,447

Other financial income / (expense), net

     (19     (7,678     17,212        13,594        (132,936

Other income / (expense), net

     193        (262     1,119        (1,770     410   
                                        

Income before taxes, equity in net income from unconsolidated investments and noncontrolling interests in subsidiaries

     26,444        27,875        78,163        94,080        12,759   

Income tax (expense)

     (4,614     (5,346     (13,986     (15,910     (11,872
                                        

Equity in net earnings of affiliates

     —          —          —          —          (9,002
                                        

Net income / (loss)

   $ 21,830      $ 22,529      $ 64,177      $ 78,170      $ (8,115
                                        

Less: Net income / (loss) attributable to noncontrolling interests in subsidiaries

     —          2,261        8,727        1,068        3,680   

Less: Net income / (loss) attributable to redeemable noncontrolling interests in Whitehall Group

             6,803   

Net income /(loss) attributable to CEDC

   $ 21,830      $ 20,268      $ 55,450      $ 77,102      $ (18,598
                                        

Net income / (loss) per common share, basic

   $ 0.89      $ 0.72      $ 1.55      $ 1.93      $ (0.42
                                        

Net income / (loss) per common share, diluted

   $ 0.87      $ 0.70      $ 1.53      $ 1.91      $ (0.42
                                        

Average number of outstanding shares of common stock at year end

     24,462        28,344        35,799        39,871        44,088   

Balance Sheet Data:

          
     2004     2005     2006     2007     2008  

Cash and cash equivalents

   $ 10,491      $ 60,745      $ 159,362      $ 87,867      $ 107,601   

Working capital

     50,910        85,950        182,268        170,913        205,712   

Total assets

     291,704        1,084,472        1,326,033        1,782,168        2,483,686   

Long-term debt and capital lease obligations, less current portion

     4,013        369,039        394,564        469,958        806,362   

CEDC Stockholders’ equity

     120,316        374,942        520,973        815,436        956,629   

 

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