TESSCO TECHNOLOGIES

 

TESSCO TECHNOLOGIES 2002

 

Annual Report

TABLE OF CONTENTS:  




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Item 8. Consolidated Financial Statements and Supplementary Data.

Consolidated Statements of Income


FISCAL YEARS ENDED

 

MARCH 31, 2002

 

APRIL 1, 2001

 

MARCH 26, 2000

Revenues

 

$ 248,915,100      

 

$ 258,769,800      

 

$ 196,830,300      
Cost of goods sold

 

180,432,600      

 

188,271,200      

 

142,523,000      

        Gross profit

 

68,482,500      

 

70,498,600      

 

54,307,300      

Selling, general and administrative expenses

 

60,596,500      

 

59,953,000      

 

44,027,400      

        Income from operations

 

7,886,000      

 

10,545,600      

 

10,279,900      
Interest and other expense, net

 

1,496,100      

 

2,039,100      

 

1,340,300      

        Income before provision for income taxes

 

6,389,900      

 

8,506,500      

 

8,939,600      
Provision for income taxes

 

2,484,000      

 

3,232,500      

 

3,397,000      

        Net income

 

$ 3,905,900      

 

$ 5,274,000      

 

$ 5,542,600      

Basic earnings per share

 

$ 0.87      

 

$ 1.17      

 

$ 1.24      

Diluted earnings per share

 

$ 0.85      

 

$ 1.13      

 

$ 1.20      

Basic weighted average shares outstanding

 

4,500,800      

 

4,494,800      

 

4,472,500      

Diluted weighted average shares outstanding

 

4,575,900      

 

4,682,600      

 

4,559,500      


The accompanying Notes to the Consolidated Financial Statements are an integral part of these consolidated balance sheets.




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