EX-99.1 3 dex991.htm SELECTED FINANCIAL DATA 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.

 

Statement of Operations data:    2005     2006     2007     2008     2009  

Net sales

   $ 136,493      $ 284,240      $ 398,050      $ 571,242      $ 689,414   

Cost of goods sold

     95,962        173,471        254,615        321,274        340,482   
                                        

Gross profit

     40,531        110,769        143,435        249,968        348,932   

Sales, general and administrative expenses

     23,760        51,614        62,897        114,607        164,467   
                                        

Operating income

     16,771        59,155        80,538        135,361        184,465   

Non-operating income / (expense), net

          

Interest (expense), net

     (13,262     (30,385     (33,867     (47,810     (73,468

Other financial income / (expense), net

     (7,544     17,212        13,594        (123,801     25,193   

Amortization of deferred charges

     0        0        0        0        (38,501

Other income / (expense), net

     (52     978        (2,272     (488     (934
                                        

Income/(loss) before taxes and equity in net income from unconsolidated investments

     (4,087 )      46,960        57,993        (36,738 )      96,755   

Income tax (expense)/benefit

     727        (8,057     (9,054     (1,382     (18,495
                                        

Equity in net earnings/(losses) of affiliates

     0        0        0        1,168        (5,583
                            

Income / (loss) from continuing operations

   ($ 3,360   $ 38,902      $ 48,939      ($ 36,952   $ 72,677   
                                        

Discontinued operations

          

Income from operations of distribution business

     31,962        31,203        36,087        27,203        9,410   

Income tax (expense)

     (6,073     (5,929     (6,856     (5,169     (1,050
                                        

Income on discontinued operations

     25,889        25,275        29,231        22,034        8,360   

Net income / (loss)

     22,529        64,177        78,170        (14,918     81,037   
                                        

Less: Net income attributable to noncontrolling interests in subsidiaries

     2,261        8,727        1,068        3,680        2,708   
                                        

Net income /(loss) attributable to CEDC

   $ 20,268      $ 55,450      $ 77,102      ($ 18,598   $ 78,329   
                                        

Net income per common share, basic

   $ 0.72      $ 1.55      $ 1.96      ($ 0.34   $ 1.51   
                                        

Net income per common share, diluted

   $ 0.70      $ 1.53      $ 1.93      ($ 0.34   $ 1.50   
                                        

Average number of outstanding shares of common stock at year end

     28,344        35,799        39,871        44,088        53,772   
Balance Sheet Data:    2005     2006     2007     2008     2009  

Cash and cash equivalents

   $ 52,337      $ 147,937      $ 70,233      $ 84,639      $ 126,439   

Restricted cash

     0        0        0        0        481,419   

Working capital

     85,950        182,268        170,913        169,061        354,745   

Total assets

     1,128,829        1,377,988        1,859,346        2,436,138        4,414,530   

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

     368,655        394,342        468,509        804,941        1,311,990   

Stockholders’ equity

     373,532        520,599        817,725        993,511        1,685,162