CHH » Topics » Item 6. Selec ted Financial Data.

This excerpt taken from the CHH 10-K filed Feb 29, 2008.

Item 6.    Selec ted Financial Data.

 

Company results (in millions, except per share data)

 

     As of and for the year ended December 31,

     2003

   2004

   2005

   2006

   2007

Total Revenues

   $ 380.4    $ 423.4    $ 472.1    $ 539.9    $ 615.5

Net Income

     71.9      74.3      87.6      112.8      111.3

Basic Earnings per Share(1)

     1.01      1.12      1.36      1.72      1.73

Diluted Earnings per Share(1)

     0.98      1.08      1.32      1.68      1.70

Total Assets

     267.3      263.4      265.3      303.3      328.4

Long-Term Debt

     246.7      328.7      274.1      172.5      272.4

Cash Dividends Declared Per Common Share(1)

     0.10      0.425      0.485      0.56      0.64

(1)

 

Per share amounts have been retroactively adjusted for a two-for-one stock split effected in the form of a stock dividend distributed on October 21, 2005 to shareholders of record on October 7, 2005.

 

Matters that affect the comparability of our annual results are as follows:

 

   

Net income in 2003 included a $3.4 million ($0.05 per share) gain on the prepayment of a note receivable from Sunburst. As a result of this prepayment, interest income earned on this note receivable totaling approximately $4.5 million per annum will not be received in future years.

 

   

Net income in 2004 included a $0.7 million loss on extinguishment of debt related to the refinancing of the Company’s senior credit facility. In addition, results reflect a reduction of income tax expense related to the resolution of certain tax contingencies of approximately $1.2 million. Those items represent an increase in diluted EPS of $0.01, net.

 

   

Net income in 2005 included additional income tax expense of approximately $1.2 million related to the Company’s repatriation of foreign earnings pursuant to the American Jobs Creation Act and a reduction of income tax expense related to the resolution of certain tax contingencies of approximately $4.9 million. Those items represent an increase in diluted EPS of $0.06, net.

 

   

Net income in 2006 included a $0.3 million loss on extinguishment of debt related to the refinancing of the Company’s senior credit facility and a reduction of income tax expense related to the resolution of certain tax contingencies of approximately $12.8 million. In addition, the Company’s adoption of SFAS No. 123R reduced net income by approximately $0.3 million. Those items represent an increase in diluted EPS of $0.18, net.

 

   

Net income in 2007 included termination benefit expense totaling $3.7 million resulting from the termination of certain executive officers. This represented a decline in diluted EPS of $0.04.

 

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