ITEM 6. SELECTED FINANCIAL DATA
The following table sets forth selected financial date for each of the five years in the period ended December 31, 2008 (amounts in thousands, except per share amounts). This financial data should be read together with our consolidated financial statements and related notes, Management’s Discussion and Analysis of Financial Condition and Results of Operations, and other financial data appearing elsewhere in this report.
| STATEMENT OF OPERATIONS DATA Year Ended December 31, | 2008 | 2007 | 2006 | 2005(1) | 2004(1) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross revenues | $ | 8,578,614 | $ | 7,316,223 | $ | 6,556,194 | $ | 5,688,948 | $ | 4,341,538 | |||||
| Gross profits | 1,374,963 | 1,243,778 | 1,082,544 | 879,750 | 660,991 | ||||||||||
| Income from operations | 571,586 | 509,684 | 417,845 | 326,361 | 222,768 | ||||||||||
| Net income | 359,177 | 324,261 | 266,925 | 203,358 | 137,254 | ||||||||||
| Net income per share Basic |
$ | 2.12 | $ | 1.90 | $ | 1.56 | $ | 1.20 | $ | .81 | |||||
| Diluted | $ | 2.08 | $ | 1.86 | $ | 1.53 | $ | 1.16 | $ | .79 | |||||
| Weighted average number of shares outstanding (in thousands) Basic |
169,056 | 170,493 | 170,888 | 170,052 | 169,228 | ||||||||||
| Diluted | 172,733 | 174,040 | 174,787 | 174,698 | 173,144 | ||||||||||
| Dividends per share | $ | .900 | $ | .760 | $ | .570 | $ | .355 | $ | .255 | |||||
| BALANCE SHEET DATA As of December 31, |
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| Working capital | $ | 650,218 | $ | 631,537 | $ | 569,199 | $ | 472,298 | $ | 393,168 | |||||
| Total assets | 1,815,721 | 1,811,307 | 1,631,693 | 1,395,068 | 1,080,696 | ||||||||||
| Total long-term debt | — | — | — | — | — | ||||||||||
| Stockholders’ investment | 1,107,221 | 1,042,249 | 943,722 | 780,037 | 620,856 | ||||||||||
| OPERATING DATA | |||||||||||||||
| Branches | 228 | 218 | 214 | 196 | 176 | ||||||||||
| Employees | 7,961 | 7,332 | 6,768 | 5,776 | 4,806 | ||||||||||
| Average gross profits per employee(2) | $ | 178 | $ | 177 | $ | 172 | $ | 166 | $ | 149 | |||||
(1) On October 14, 2005, the company’s shareholders approved a 2-for-1 stock split. All share and per share amounts have been restated to reflect the retroactive effect of the stock split.
(2) Management uses gross profits per employee as a key performance to analyze our productivity, to benchmark the financial performance of our branches, and to analyze impacts of technology and other investments in our business.
