Iraq Terror Chief Rejects New Government
This is an image made from video originally posted Tuesday, April 25, 2006 on the Internet showing al-Qaida in Iraq leader Abu Musab al-Zarqawi, center right, unmasked. In the rare video, al-Zarqawi accused the West and the United States of waging a "crusader" war against Islam but said Muslim holy warriors were standing firm. This image was provided via the IntelCenter, which is a private contractor working for intelligence agencies. (AP Photo/via IntelCenter)
BAGHDAD, Iraq (AP) _ Terror mastermind Abu Musab al-Zarqawi revealed his face for the first time Tuesday in a dramatic video in which he dismissed Iraq's new government as an American "stooge" and called it a "poisoned dagger" in the heart of the Muslim world. The video, in which he also warned of more attacks to come, was posted on the Internet only days after a breakthrough in Iraq's political process allowing its Shiite, Sunni and Kurdish leaders to start assembling a government.
Bush Eases Environmental Rules on Gasoline
President Bush delivers remarks on energy, Tuesday, April 25, 2006, in Washington. President Bush, under pressure to do something about gasoline prices that are expected to stay high through the summer, has ordered an investigation into possible cheating in the markets. (AP Photo/Manuel Balce Ceneta)
WASHINGTON (AP) _ Under election-year pressure to reduce surging gasoline prices, President Bush on Tuesday halted filling of the nation's emergency oil reserve, urged the waiver of clean air rules to ease local gas shortages and called for the repeal of $2 billion in tax breaks for profit-heavy oil companies. Still, experts said Bush's actions wouldn't have much impact on prices at the pump. The president warned that motorists would have to dig deep into their pockets all summer long.
Port Workers to Undergo Background Checks
Trucks exit the Port of Long Beach, Calif., Monday, April 17, 2006. Cargo industry officials are worried that a federal ID system aimed at boosting security could cost many port workers their jobs, something that would bottle up the flow of goods destined for virtually every U.S. community.(AP Photo/Ric Francis)
WASHINGTON (AP) _ Seaport workers will undergo background checks for links to terrorism and to ensure they are legal U.S. residents, the Bush administration said Tuesday. The announcement came after months of scathing criticism about security gaps at the nation's ports.
30 Arrests Made in Egypt Resort Attack
Candles burn near the site of Monday's bomb attack in Dahab, Egypt Tuesday, April 25, 2006 . Three nearly simultaneous bombings hit this Egyptian beach resort popular with foreigners Monday, killing at least 24 people on streets filled with tourists and Egyptians enjoying a long weekend marking a national holiday. (AP Photo/Anja Niedringhaus)
DAHAB, Egypt (AP) _ Egyptian authorities, already struggling with elusive terror cells in the rugged Sinai Peninsula, moved quickly Tuesday _ arresting 30 men in the triple bombings that ripped apart a resort town on a tranquil holiday evening. Radical Muslim groups moved just as rapidly to distance themselves from the Dahab attacks, which killed 24 people. The leader of Egypt's banned Muslim brotherhood condemned them as "aggression on human souls created by God."
Fox Host to Be Named White House Spokesman
WASHINGTON (AP) _ Conservative pundit Tony Snow will be named White House press secretary, Republican officials said Tuesday night, in the latest move in President Bush's effort to remake his troubled White House. Snow is expected to be named on Wednesday.
Jury Convicts Calif. Man in Terrorism Case
The family members of terror probe suspect Umer Hayat; wife, Salma Hayat, right; and daughter, Raheela, 11; and son, Arslan Hayat, 17, background; smile as they leave the federal courthouse in Sacramento, Calif., after a mistrial was declared, Tuesday, April 25, 2006. U.S. District Judge Garland E. Burrell declared the mistrial after the jury told the judge that it was hopelessly deadlocked. Umer Hayat faced up to 16 years in prison if he had been convicted of the two counts against him, both related to making false statements to federal agents about his son, Hamid Hayat's attending an al-Qaida training camp in Pakistan. (AP Photo/Rich Pedroncelli)
SACRAMENTO, Calif. (AP) _ A federal jury on Tuesday convicted a 23-year-old man of supporting terrorists by attending an al-Qaida training camp in Pakistan three years ago. Hamid Hayat, a seasonal farm worker in Lodi, an agricultural town south of Sacramento, was convicted of one count of providing material support to terrorists and three counts of lying to the FBI.
NASA Chief Eyes 2011 for New Spacecraft
NASA Administrator Michael Griffin fields questions during a news conference at Kennedy Space Center in Cape Canaveral, Fla. Friday, May 20, 2005. (AP Photo/Peter Cosgrove, FILE)
WASHINGTON (AP) _ A new spaceship could be ready to replace the nation's aging shuttle fleet by 2011 _ three years ahead of schedule _ if lawmakers added money to NASA's proposed budget, the head of the space agency told a congressional panel on Tuesday. NASA Administrator Michael Griffin said that date is the earliest the new spaceship, or crew exploration vehicle, could be developed no matter how much money the agency received.
'Lost' Actress Chooses Jail Over Service
This photo provided by the Honolulu Police Department shows actress Michelle Rodriguez after being arrested for suspicion of drunk driving on Dec. 1, 2005. Rodriguez, of the hit ABC series "Lost," pleaded guilty on Tuesday, April 25, 2006 to a single count of driving under the influence, choosing to pay a $500 fine and spend five days in jail rather than do 240 hours of community service. (AP Photo/Honolulu Police Department via The Honolulu Advertiser, File)
HONOLULU (AP) _ "Lost" actress Michelle Rodriguez pleaded guilty on Tuesday to a single count of driving under the influence, choosing to pay a $500 fine and spend five days in jail rather than do 240 hours of community service. Rodriguez, who portrays police officer Ana Lucia, and cast member Cynthia Watros were both charged with drunken driving after they were pulled over Dec. 1 in separate cars within 15 minutes of each other.
Amazon.com 1Q Earnings Slide 35 Percent
Amazon.com worker David Brendoff, left, moves boxes with merchandise for shipment in a file photo from Dec. 13, 2005, at the Amazon.com fulfillment center in Fernley, Nevada. Amazon.com Inc. reports first quarter earnings after the bell, with analysts expecting the online retailer to earn 12 cents per share on revenue of $2.22 billion. (AP Photo/Ben Margot, File)
SEATTLE (AP) _ Amazon.com Inc. said Tuesday that earnings fell nearly 35 percent in the first quarter, compared to the same period last year in which the online retailer had a big one-time gain. But the earnings results met analysts' expectations, and sales were slightly higher than Wall Street had anticipated.
NFL Suspends Ricky Williams for 2006
Miami Dolphins' Ricky Williams smiles in the final seconds of Miami's 33-21 win over the Oakland Raiders in this Nov. 27, 2005,file photo in Oakland, Calif. Ricky Williams was suspended for the 2006 season by the NFL on Tuesday, April 25, 2006 for violating the league's substance abuse policy for the fourth time. (AP Photo/Marcio Jose Sanchez)
MIAMI (AP) _ Ricky Williams will sit out another season. The NFL suspended the troubled Miami Dolphins running back for one year Tuesday after he violated the league's substance abuse policy for the fourth time. Williams met April 10 with NFL counsel Jeff Pash in an attempt to have the league overturn the test. He had been participating in the offseason training program at the Dolphins' complex, and he was there working out shortly before league announced that his appeal had been rejected.
The good news: Shopping online for the holidays will be easier and faster than it was last year. The bad news: It's likely to cost more, as many e-tailers struggle to survive the dot.com slump.
How can readers make the most of their holiday surfing? Two full-color, broadsheet pages from the Saint Paul Pioneer Press, posted on KRT Direct and PressLink Online, look at the business of gift-buying on the Web.
The "help" page prepares shoppers by focusing on shipping, returns, security and "shop bots" and offers profiles on typical e-shoppers and the top problems they encountered last season. The "buy" page guides shoppers through the Web, pointing them to the best sites for decorations, toys, gadgets, electronics, accessories, books and CDs and edibles.
For previews and downloads on KRT Direct, go to http://www.krtdirect.com/onepages. If you already have a KRT Direct user ID and password, you can download any OnePage immediately.
To obtain a KRT Direct user ID and password, call Tribune Media Services at (800) 346-8798 or e-mail tms(AT)tribune.com.
Publications outside the United States and Canada, contact Atlantic Syndication Partners, phone: (941) 371-2252: fax: (941) 342-0999 or e-mail: sales(AT)atlanticsyndication.com.
OnePages also are available on an a la carte basis on the PressLink Online KRT Forum page under the BROWSE KRT ONEPAGES & SPECIAL SECTIONS pop-up menu. Here is the PressLink URL: http://online.presslink.com. Call 800-888-6195 for pricing, download charges or to become a PressLink Online member.
For content information on OnePages, please call (202) 383-6151 or e-mail specialstaff(AT)krtinfo.com.
X X X
A SAMPLE OF THE ARTICLE
By Ann Perry
Knight Ridder Newspapers
The good news: Shopping online for the holidays will be easier and faster than it was last year. The bad news: It's likely to cost more.
"The days of discounting have come to an end," says Heather Dougherty, a retail analyst with Jupiter Media Metrix. "We'll see a lot less of the free shipping."
Perhaps with good reason, at least from the businesses' perspective.
Many e-retailers are struggling financially and can't afford to give anything away, says Christopher M. Kelley, an analyst with Forrester Research. Some may be seeing their last holiday season. But low prices might not have mattered this season, says Kelley, because shoppers are more concerned with an e-retailer's reliability.
Following last year's holiday season, shoppers complained about slow Web sites, product unavailability and late delivery, according to a survey by BizRate.com.
The online stakes, although still a sliver of all retail sales, are growing. In the November-December holiday shopping months, sales are expected to jump 66 percent to $11.6 billion from the same period last year, according to Jupiter Communications Inc.
All retail analysts agree that online shopping is here to stay, despite the frustrations and quirks. Here's why:
_Convenience: "For families with children, it's a whole lot easier than sneaking off to the store and battling somebody for a parking space," says Kelley. Online shopping also allows shoppers to avoid commission-oriented sales staff at consumer electronic stores.
_Access: A growing number of people are able to tap into the Internet, thanks to the falling prices of personal computers and the low- to no-charge for Internet service. By the end of 2000, more than half of U.S. households will be online.
X X X
Not for publication or retransmission without permission of KRT.
(c) 2000, Knight Ridder/Tribune Information Services.
Not for publication or retransmission without permission of KRT.
Rush-hour commuters could get wired to the roadway -- with real-time traffic information available via the Internet, pagers and cellular phones -- if a $40 million plan for an "intelligent transportation system" goes forward.
``You could literally check the highways before you go out," said Karen Lenehan, spokeswoman for the Ohio Department of Transportation.
The department, the Greater Cleveland Regional Transit Authority and Cuyahoga County want to copy cities such as Atlanta and Houston that have extensive "intelligent transportation systems" that help emergency personnel and drivers deal with accidents or delays.
``You can't keep widening highways to address congestion," Ms. Lenehan said. "This is a softer approach to make traffic flow better."
Closed-circuit TV cameras along highways would relay pictures of traffic over the Internet, flashing message boards on highways would warn of coming delays or accidents, and traffic updates could be delivered via a special radio station or by electronic mail, pager or cellular phone. Even buses and trains would be equipped with location sensors to improve scheduling and transfers.
``It's such a neat thing that could happen for the city of Cleveland and the surrounding areas, but it's also an expensive thing," Ms. Lenehan said.
About $18 million of the $40 million is earmarked for a new downtown building that would consolidate about 190 RTA transit police and dispatch employees and Cuyahoga County's 30-person emergency management division. The county division handles the dispatch of 911 emergency phone calls.
The new center might not be up and running for four to five years, but the RTA and the county are planning now to construct or buy a building to house the employees and communications equipment.
The RTA will ask for $22 million for the transportation system from the state Transportation Review Advisory Council, which controls federal dollars for major transportation projects. If the plan for the computerized system goes forward, it could help improve the response time and coordination of emergency officials when there's an accident, said Murray Withrow, manager of the county's emergency services.
``If you get a live picture of an accident, you can almost begin a preliminary assessment of how you should enter a scene," Mr. Withrow said.
Ms. Lenehan said the technology could have prevented thousands of rush- hour commuters from getting stuck in two-hour traffic jam in March when a tanker truck leaked hydrochloric acid on the East Shoreway.
``People were getting on the highway not knowing there was an accident two miles ahead," she said.
FOREX Income Engine (FIE) Trade Alert Software, a new FOREX trading alert instrument, is quickly emerging as an industry leader among novice and seasoned foreign exchange traders alike. The custom trade alert software combines both human and artificial intelligence to a strategic degree never previously achieved, according to Profits Run, Inc. founder Bill Poulos, a renowned trader and FOREX educator.
Mr. Poulos states that the most frequent feedback he and his FOREX Income Engine trading education staff receive from the thousands of students they mentor is a prominent desire for a true FX trade alert software. According to Poulos, "It's not a robot, it's not an EA or Expert Advisor of any kind, it's not even a plugin. It is one hundered percent custom and all it requires is an Internet connection" Technical superiority with operator simplicity allows for automatic indications of when a trade has set up and entry should occur, in conjunction with Poulos' FOREX Income Engine methodology.
Among the particular advantages of FOREX Income Engine Trade Alert Software is the ability to automatically filter out bad markets in which trading involvement is inadvisable. FIE Trade Alert Software offers investors an intuitive, user-friendly interface with multiple timeframes for executing profitable trades in multiple types of markets throughout the trading day in order to diversify risk.
Additional features of FOREX Income Engine Trade Alert Software include:
o Custom software which provides flexible methods to suit individual investor schedules
o Ability to instantly send trade alerts via email and text message
o Choices among 3 trading methods at investor's discretion
o Multiple currency pairs and timeframes: 5-, 10-, 15-, 30-, 60-minute charted bars
o Appropriate for new traders seeking to supplement income
o Ideal for seasoned traders as a complimentary, additional method for seizing PIPs and profit-taking by "day trading" the FOREX market
o Ample trading blueprints, tutorials, guides, and reference manuals
o Ability to execute full strategic flexibility with a $500 trading account
o 24/7 unlimited student email support and mentoring for one year
FOREX Income Engine Trade Alert Software (http://forexincomeengineer.com) demonstrates a unique industry leading response to growing investor demands for next generation FOREX trading support tools offering higher degrees of individual flexibility and strategically elegant versatility.
To learn more about Forex Income Engine Trade Alert Software, please go to http://forexincomeengineer.com
Keywords: Artificial Intelligence, Emerging Technologies, Machine Learning, Software.
This article was prepared by Computer Weekly News editors from staff and other reports. Copyright 2011, Computer Weekly News via VerticalNews.com.
Endeca Technologies, Inc., a search and business intelligence (BI) company announced that Endeca technology has been selected by kalahari.net, South Africa's largest online retailer. kalahari.net will take advantage of the solution's Guided Navigation[R] and advanced search engine capabilities to deliver a highly searchable, easy-to-use online shopping experience for its expanded eCommerce website. The site, built on the best-of-breed hybris eCommerce Platform, will be a significant expansion of kalahari.net's eCommerce operations and its consumer-to-consumer (C2C) and business-to-consumer (B2C) marketplace.
Owned by MIH Internet Holdings, a Naspers company that specialises in pay-television and Internet subscriber platforms, kalahari.net is a pioneer in the South African e-commerce industry. As the market leader, it retails millions of books, eBooks, music, DVDs, games, cameras, and electronics online. It also trades in Kenya and Nigeria.
Statistics show that eCommerce is on a sharp upward curve in South Africa. The most recent survey on online shopping habits by MasterCard Worldwide show that 77 percent of connected South Africans are shopping online and have done so in the past three months. 49 percent bought CDs and DVDs online, surpassing the purchase of online airline tickets at 44 percent.
Michael Needham, CTO, MIH Africa & Middle East, confirms that eCommerce is a rapidly growing sector in South Africa. "Our consumers are increasingly drawn to the online experience as access to the Internet expands. Being an early mover that rapidly grew to a market leading position, our platforms needed to match the challenge. We turned to Endeca to enhance the overall engagement with our customers and to ensure that we kept pace with the marketplace's anticipated growth. With Endeca's proven scalability and merchandising functionality, we are well positioned to build a world class offering that will both retain customers and attract new ones." Endeca's technology provides customers with the most relevant and targeted content where it matters most - in the decision making process. It dynamically presents the most relevant and targeted content, based on the customer's actions, at each step of the shopping experience. The patented Endeca MDEX Engine™ technology, a new class of technology optimized for helping shoppers explore content, regardless of its source or format, delivers the user experience and advanced merchandising capabilities that improve traffic, conversion and online sales.
"Online consumers want control over their shopping experience with the best user experience possible, combining search, navigation, and access to content in context," said John Andrews, vice president, marketing and product management, eBusiness at Endeca. "This is why more and more retailers around the world are turning to Endeca to maximize the value of their content and create a customer experience that increases sales and customer loyalty, while reducing site management costs." About kalahari.net A pioneer in the South African e-commerce industry, kalahari.net is the market leader in South African e-commerce. Established in 1999, kalahari.net is SA's largest online retailer of millions of books, eBooks, music, DVDs, games, cameras, and electronics. About Endeca Endeca is a search and business intelligence software company that improves daily decisions for employees and purchase decisions for customers. Endeca's unique innovation, the hybrid search-analytical database, enables IT organizations to deliver solutions with consumer ease-of-use on diverse and changing information. Endeca solutions drive hundreds of millions of dollars in reduced costs and increased revenues in the world's most demanding decision-making environments in organizations like Boeing, the United States Department of Justice, Ford Motor Company, Hyatt, IBM, the Library of Congress, Texas Instruments, and Walmart.com.
Headquartered in Cambridge, Mass., Endeca has operations in North America, Europe, and Asia.
For more information: endeca.com, http://eBusinessfacets.com, or info@endeca.com. Endeca, Endeca Latitude, Guided Navigation and MDEX Engine are trademarks or registered trademarks of Endeca Technologies, Inc. in the United States and other countries.
Keywords: Advertising, Airlines, Asia, China, Electronics, Endeca Technologies, Endeca Technologies Inc., Industry, Information Technology Service Companies, Marketing, Software, Technology Companies, Transportation.
This article was prepared by Defense & Aerospace Week editors from staff and other reports. Copyright 2011, Defense & Aerospace Week via VerticalNews.com.
Earnings Per Share Rise 17%
Digital Sales Expand 53%
GRAPEVINE, Texas -- GameStop Corp. (NYSE: GME), the world's largest multichannel video game retailer, today reported record sales and earnings for the first quarter ended April 30, 2011.
Financial Results
Total sales for the first quarter of 2011 increased 9.5% to $2.28 billion, in comparison to $2.08 billion in the prior year quarter. Total company comparable store sales were 5.3%, driven primarily by strong HD console sales, the Nintendo 3DS launch and a 9.5% growth of pre-owned products. Digital sales increased 53% over last year as each digital segment experienced strong growth.
The top five selling games during the quarter were Nintendo's Pokemon Black and White, Mortal Kombat from Warner Home Video Games, Capcom's Marvel vs. Capcom 3: Fate of Two Worlds, Call of Duty: Black Ops from Activisionand THQ's Homefront.
Net earnings increased 6.9% to $80.4 million, as compared to net earnings of $75.2 million in the prior year quarter. Diluted earnings per share increased 16.7% to $0.56, as compared to $0.48 in the prior year quarter.
Paul Raines, chief executive officer, stated, "GameStop continues to execute its strategic plan. Our strong comparable store sales reflect record share gains, pre-owned sales acceleration, robust digital sales growth and extraordinary consumer acceptance of our PowerUp Rewards[TM] loyalty program. Our unique, multichannel business model makes the GameStop network the premier gaming provider."
Rob Lloyd, chief financial officer, said, "We delivered record financial results while continuing to make investments in our digital channel, including the acquisitions of Spawn Labs and Impulse, Inc. The strength of our balance sheet and consistent cash flow allows us to invest in future growth channels while returning value to shareholders."
Earnings Guidance
For the second quarter of fiscal 2011, the company expects comparable store sales to range from -2.0% to flat. Diluted earnings per share are expected to range from $0.20 to $0.23. As expected, the decline in year-over-year earnings stems primarily from the previously announced planned investments GameStop is making in its strategic initiatives, which will be approximately $0.04 per share in the second quarter.
GameStop is reiterating its full year diluted earnings per share guidance range of $2.82 to $2.92, representing a 6.4% to 10.2% increase over fiscal 2010. Full year comparable store sales are still expected to range from 3.5% to 5.5%.
Share Repurchase Update
During the first quarter, GameStop purchased 5.92 million shares at an average price of $19.88, or $117.7 million worth of stock.
Note that earnings guidance only includes the effect of the shares purchased thus far in fiscal 2011 from the $500 million share and debt repurchase plan authorized in February 2011.
Conference Call and Webcast Information
A conference call with GameStop Corp.'s management is scheduled for May 19, 2011 at 10:00 a.m. CT to discuss the first quarter sales and earnings results. The conference call will be simulcast on the Internet at http://investor.gamestop.com/. The conference call will be archived on the website until July 19, 2011.
GameStop is scheduled to present at Citi's 2011 Global Consumer Conference at 10:00 a.m. ET on Tuesday, May 24 at the Westin Times Square Hotel in New York City.
About GameStop
GameStop Corp. (NYSE: GME), a Fortune 500 and S&P 500 company headquartered in Grapevine, Texas, is the world's largest multichannel video game retailer. GameStop's retail network and family of brands include 6,573 company-operated stores in 17 countries worldwide and online at www.GameStop.com. Our network also includes: www.Kongregate.com, a leading browser-based game site; Game Informer(R) magazine, the leading multi-platform video game publication; Spawn Labs, a streaming technology company; and Impulse, Inc., a digital distribution platform available at www.impulsedriven.com.
General information on GameStop Corp. can be obtained at the company's corporate website. Follow GameStop on Twitter @ www.twitter.com/GameStop and find GameStop on Facebook @ www.facebook.com/GameStop.
Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, the outlook for fiscal 2011, future financial and operating results, projected store openings, the company's plans, objectives, expectations and intentions, and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of GameStop's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. GameStop undertakes no obligation to publicly update or revise any forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the inability to obtain sufficient quantities of product to meet consumer demand, including console hardware and accessories; the timing of release of video game titles for current generation consoles; the risks associated with expanded international operations and the integration of acquisitions; the impact of increased competition and changing technology in the video game industry, including browser and mobile games and alternative methods of distribution; and economic, regulatory and other events, including litigation, that could reduce or impact consumer demand or affect the company's business. Additional factors that could cause GameStop's results to differ materially from those described in the forward-looking statements can be found in GameStop's Annual Report on Form 10-K for the fiscal year ended January 29, 2011 filed with the SEC and available at the SEC's Internet site at http://www.sec.gov or http://investor.gamestop.com.
| GameStop Corp. | ||||||||
| Statements of Operations | ||||||||
| (in millions, except per share data) | ||||||||
| 13 weeks | 13 weeks | |||||||
| ended | ended | |||||||
| April 30, 2011 | May 1, 2010 | |||||||
| Sales | $2,281.4 | $2,082.7 | ||||||
| Cost of sales | 1,661.2 | 1,511.9 | ||||||
| Gross profit | 620.2 | 570.8 | ||||||
| Selling, general and administrative | ||||||||
| expenses | 442.7 | 403.8 | ||||||
| Depreciation and amortization | 46.4 | 42.5 | ||||||
| Operating earnings | 131.1 | 124.5 | ||||||
| Interest expense, net | 6.1 | 9.6 | ||||||
| Earnings before income | ||||||||
| tax expense | 125.0 | 114.9 | ||||||
| Income tax expense | 45.0 | 40.1 | ||||||
| Consolidated net income | 80.0 | 74.8 | ||||||
| Net loss attributable to noncontrolling interests | 0.4 | 0.4 | ||||||
| Consolidated net income attributable to GameStop | $80.4 | $75.2 | ||||||
| Net income per common share: | ||||||||
| Basic1 | $0.56 | $0.49 | ||||||
| Diluted1 | $0.56 | $0.48 | ||||||
| Weighted average common shares | ||||||||
| outstanding: | ||||||||
| Basic | 142.7 | 153.6 | ||||||
| Diluted | 143.7 | 156.5 | ||||||
| Percentage of Sales: | ||||||||
| Sales | 100.0% | 100.0% | ||||||
| Cost of sales | 72.8% | 72.6% | ||||||
| Gross profit | 27.2% | 27.4% | ||||||
| Selling, general and administrative | ||||||||
| expenses | 19.4% | 19.4% | ||||||
| Depreciation and amortization | 2.0% | 2.0% | ||||||
| Operating earnings | 5.8% | 6.0% | ||||||
| Interest expense, net | 0.3% | 0.5% | ||||||
| Earnings before income | ||||||||
| tax expense | 5.5% | 5.5% | ||||||
| Income tax expense | 2.0% | 1.9% | ||||||
| Consolidated net income | 3.5% | 3.6% | ||||||
| Net loss attributable to noncontrolling interests | 0.0% | 0.0% | ||||||
| Consolidated net income attributable to GameStop | 3.5% | 3.6% | ||||||
| 1 Basic net income per share and diluted net income per share are calculated based on consolidated net income attributable to GameStop. |
| GameStop Corp. | ||||||||||
| Balance Sheets | ||||||||||
| (in millions, except per share data) | ||||||||||
| April 30, | May 1, | |||||||||
| 2011 | 2010 | |||||||||
| ASSETS: | ||||||||||
| Current assets: | ||||||||||
| Cash and cash equivalents | $395.8 | $431.9 | ||||||||
| Receivables, net | 50.6 | 36.0 | ||||||||
| Merchandise inventories | 1,306.1 | 1,152.1 | ||||||||
| Prepaid expenses and other current assets | 106.2 | 99.8 | ||||||||
| Deferred taxes | 24.1 | 16.6 | ||||||||
| Total current assets | 1,882.8 | 1,736.4 | ||||||||
| Property and equipment: | ||||||||||
| Land | 25.7 | 11.7 | ||||||||
| Buildings & leasehold improvements | 590.8 | 530.2 | ||||||||
| Fixtures and equipment | 840.7 | 731.1 | ||||||||
| 1,457.2 | 1,273.0 | |||||||||
| Less accumulated depreciation and amortization | 837.8 | 697.7 | ||||||||
| Net property and equipment | 619.4 | 575.3 | ||||||||
| Goodwill, net | 2,081.2 | 1,941.3 | ||||||||
| Other noncurrent assets | 344.0 | 282.4 | ||||||||
| Total assets | $4,927.4 | $4,535.4 | ||||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY: | ||||||||||
| Current liabilities: | ||||||||||
| Accounts payable | $872.2 | $767.5 | ||||||||
| Accrued liabilities | 629.1 | 517.9 | ||||||||
| Total current liabilities | 1,501.3 | 1,285.4 | ||||||||
| Other long-term liabilities | 177.2 | 122.5 | ||||||||
| Senior notes payable, net of discount | 249.2 | 447.6 | ||||||||
| Total liabilities | 1,927.7 | 1,855.5 | ||||||||
| Stockholders' equity: | ||||||||||
| Preferred stock - authorized 5.0 shares; no shares | ||||||||||
| issued or outstanding | 0.0 | 0.0 | ||||||||
| Class A common stock - $.001 par value; authorized 300.0 shares; | ||||||||||
| 141.3 and 152.9 shares outstanding, respectively | 0.1 | 0.2 | ||||||||
| Additional paid-in-capital | 823.1 | 1,091.9 | ||||||||
| Accumulated other comprehensive income | 292.3 | 115.4 | ||||||||
| Retained earnings | 1,886.2 | 1,472.9 | ||||||||
| Equity attributable to GameStop Corp. stockholders | 3,001.7 | 2,680.4 | ||||||||
| Equity (deficit) attributable to noncontrolling interest | (2.0) | (0.5) | ||||||||
| Total equity | 2,999.7 | 2,679.9 | ||||||||
| Total liabilities and stockholders' equity | $4,927.4 | $4,535.4 |
| Schedule I | ||||||||||||
| GameStop Corp. | ||||||||||||
| Sales Mix | ||||||||||||
| 13 Weeks Ended | 13 Weeks Ended | |||||||||||
| April 30, 2011 | May 1, 2010 | |||||||||||
| Percent | Percent | |||||||||||
| Sales | of Total | Sales | of Total | |||||||||
| Sales (in millions): | ||||||||||||
| New video game hardware | $432.4 | 19.0% | $348.3 | 16.7% | ||||||||
| New video game software | 914.7 | 40.1% | 873.1 | 41.9% | ||||||||
| Used video game products | 625.0 | 27.4% | 570.8 | 27.4% | ||||||||
| Other | 309.3 | 13.5% | 290.5 | 14.0% | ||||||||
| Total | $2,281.4 | 100.0% | $2,082.7 | 100.0% | ||||||||
| Schedule II | ||||||||||||
| GameStop Corp. | ||||||||||||
| Gross Profit Mix | ||||||||||||
| 13 Weeks Ended | 13 Weeks Ended | |||||||||||
| April 30, 2011 | May 1, 2010 | |||||||||||
| Gross | Gross | |||||||||||
| Gross | Profit | Gross | Profit | |||||||||
| Profit | Percent | Profit | Percent | |||||||||
| Gross Profit (in millions): | ||||||||||||
| New video game hardware | $30.1 | 7.0% | $21.2 | 6.1% | ||||||||
| New video game software | 174.9 | 19.1% | 174.5 | 20.0% | ||||||||
| Used video game products | 300.0 | 48.0% | 274.4 | 48.1% | ||||||||
| Other | 115.2 | 37.2% | 100.7 | 34.7% | ||||||||
| Total | $620.2 | 27.2% | $570.8 | 27.4% |
