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SCANSOURCE, INC. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
Years Ended June 30, 2007, 2006 and 2005
(In thousands, except per share data)
2007 2006 2005
Net sales $1,986,927 $1,665,600 $1,469,094
Cost of goods sold 1,776,255 1,497,248 1,319,368
Gross profit 210,672 168,352 149,726
Operating expenses:
Selling, general and administrative expenses 135,339 105,042 90,970
Operating income 75,333 63,310 58,756
Other expense (income):
Interest expense 7,689 2,187 2,127
Interest income (885) (567) (863)
Other, net (144) 57 (413)
Total other expense 6,660 1,677 851
Income before income taxes and minority interest 68,673 61,633 57,905
Provision for income taxes 25,987 21,592 22,010
Income before minority interest 42,686 40,041 35,895
Minority interest in income of consolidated subsidiaries, net of income taxes of $36, $101 and $170, at June 30, 2007,
2006, and 2005, respectively 60 225 291
Net income $ 42,626 $ 39,816 $ 35,604
Per share data:
Net income per common share, basic $ 1.65 $ 1.56 $ 1.41
Weighted-average shares outstanding, basic 25,773 25,491 25,254
Net income per common share, assuming dilution $ 1.63 $ 1.53 $ 1.37
Weighted-average shares outstanding, assuming dilution 26,213 26,034 25,927
See accompanying notes to consolidated financial statements.
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