EX-99.1 3 dex991.txt CONSOLIDATED STATEMENTS OF INCOME FOR THE 13 WEEKS EXHIBIT 99.1 DELHAIZE AMERICA, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) For the 13 and 12 Weeks ended Sept 29, 2001 and Sept 9, 2000 (Dollars in thousands)
Pro forma 13 Weeks 13 Weeks 12 Weeks Sep 29, 2001 Sep 30, 2000 Sep 9, 2000 (A) (B) (C) A% B% C% ----------------------------------------------- ----------------------------- Net sales and other revenues $3,822,390 $3,645,114 $3,053,999 100.00 100.00 100.00 Cost of goods sold 2,851,378 2,771,101 2,326,531 74.60 76.02 76.18 Selling and administrative expenses 789,957 750,662 609,895 20.66 20.59 19.97 Asset impairment provision - 26,961 26,961 0.00 0.74 0.88 Store closing provision 1,750 34,237 37,875 0.05 0.94 1.24 Merger expense - 24,127 10,919 0.00 0.66 0.36 ----------------------------------------------- ----------------------------- Operating income 179,305 38,026 41,818 4.69 1.05 1.37 Interest expense 87,901 84,831 54,623 2.30 2.33 1.79 ----------------------------------------------- ----------------------------- Income before income taxes 91,404 (46,805) (12,805) 2.39 -1.28 -0.42 Provision for income taxes 45,508 (6,478) (2,167) 1.19 -0.17 -0.07 ----------------------------------------------- ----------------------------- Net income $ 45,896 $ (40,327) $ (10,638) 1.20 -1.11 -0.35 =============================================== ============================= EBITDA (FIFO) $ 317,919 $ 247,140 $ 208,750 8.32 6.78 6.84
Note: Pro forma consolidated statements of income for the thirteen and thirty-nine week periods ended Sept 30, 2000 are presented to reflect the impact of the calendar change to a thirteen week calendar quarter and to include the results of operations of Hannaford Bros. Co. which was acquired on July 31, 2000. EBITDA is defined by our company as earnings before interest, taxes, depreciation, amortization, LIFO income/expense, merger expense, store closing provision and asset impairment provision. We do not represent EBITDA as an alternative measure to net income or cash flow from operations, which is determined in accordance with U.S. GAAP. Investors should note that our calculation of EBITDA might differ from similarly titled measures for other companies.