This excerpt taken from the GPS 8-K filed Feb 23, 2006.
Company Delivers Nearly $1 Billion of Free Cash Flow and Earnings Per Share of $1.24
SAN FRANCISCO February 23, 2006 Gap Inc. (NYSE:GPS) today announced net earnings for the fourth quarter of $337 million, or $0.39 per share on a diluted basis, compared to $378 million, or $0.40 per share for the same period last year. Fiscal year 2005 earnings per share were $1.24, up from $1.21 for fiscal year 2004.
Despite challenges in 2005, we delivered on our growth initiatives, and our strong cash flow enabled us to significantly increase our dividend and repurchase shares, said Gap Inc. CEO and President Paul Pressler. In 2006, we are aggressively taking actions to improve product and win back our customers.