Fleetwood Enterprises Inc, Year 2000 Annual Report Financial Statements

 

Consolidated Statements of Income

Years ended April (Amounts in thousands except per share data)
2000
1999
1998
Net sales:
Manufacturing
$3,419,294 
$3,336,618 
$3,050,567
Retail
591,895 
332,309 
– 
Less intercompany
(298,224)
(178,764)
–
3,712,965 
3,490,163 
3,050,567
Cost of products sold
2,890,002 
2,736,324 
2,456,288
Gross profit
822,963 
753,839 
594,279
Operating expenses
660,787 
563,528 
424,084
Operating income
162,176 
190,311 
170,195
Other income (expense):
Investment income
11,147 
16,590 
12,542 
Interest on long-term debt
(4,459)
(3,523)
(3,567)
Interest on inventory floor plan financing
(10,784)
(6,314)
– 
Distribution on preferred securities of Fleetwood Capital Trust
(17,525)
(17,523)
(3,936)
Other
979 
(649)
(285)
(20,642)
(11,419)
4,754 
Income before provision for income taxes
141,534 
178,892 
174,949 
Provision for income taxes
(58,040)
(71,771)
(66,404)
Net income
$     83,494 
$   107,121 
$   108,545 
Earnings per share:
Basic
$         2.51 
$         3.16 
$         3.09 
Diluted
2.41 
2.94 
3.01 
Weighted average Common shares:
Basic
33,255 
33,880 
35,090 
Diluted
39,194 
40,171 
36,933 
The accompanying notes are an integral part of these statements.