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This excerpt taken from the LUX 20-F filed Jun 25, 2009. Net
Income from Continuing Operations. Income before taxes
increased by Euro 102.5 million, or 15.1 percent, to Euro 780.7 million in 2007
from Euro 678.2 million in 2006, despite the inclusion of Oakley’s income before taxes for the period
from the acquisition date of Euro (7.2) million. We expect Oakley in
future periods to have a positive impact on net income from continuing
operations. As a percentage of
net sales, income before taxes increased to 15.7 percent in 2007 from 14.5
percent in 2006. Minority interests increased to Euro 15.0 million in 2007 from
Euro 8.7 million in 2006. Our effective tax rate was 35.0 percent in 2007, as
compared to 35.2 percent in 2006.
Net income from continuing operations increased by Euro 61.5 million, or 14.3 percent, to Euro 492.2 million in 2007 from Euro 430.7 million in 2006, despite the inclusion of Oakley’s net income for the period from the acquisition date of Euro (4.7) million. Net income from continuing operations as a percentage of net sales increased to 9.9 percent in 2007 from 9.2 percent in 2006.
Basic earnings per share from continuing operations were Euro 1.08 in 2007 as compared to Euro 0.95 in 2006. Diluted earnings per share from continuing operations were Euro 1.07 in 2007 as compared to Euro 0.94 in 2006.
Discontinued Operations. Discontinued operations resulted in a loss in 2006 mainly due to the seasonal nature of the operations of the discontinued Things Remembered business, in which substantially all operational profits were realized during the second and fourth quarters. The operations were sold before the fourth quarter of 2006.
46 This excerpt taken from the LUX 20-F filed Jun 26, 2008. Net Income from Continuing
Operations.
Income before taxes increased by 25.7 percent to Euro 678.2 million in
2006 from Euro 539.3 million in 2005. As a percentage of net sales, income
before taxes increased to 14.5 percent in 2006 from 13.0 percent in 2005.
Minority interest decreased to Euro 8.7 million in 2006 from Euro 9.3 million
in 2005. The Company’s effective tax
rate was 35.2 percent in 2006, as compared to 37.0 percent in 2005 due to a
reduction in taxes in foreign jurisdictions.
The most significant portion of the benefit is due to the adoption in
Australia of a consolidated tax regime, which resulted in an increase in the
tax basis of certain assets. We have completed our evaluation of the impact of
adoption of FIN 48, Accounting for Uncertainty
in Income Taxes—an interpretation of FASB Statement No. 109. See “—Income Taxes” above for a more detailed
discussion.
Net income from continuing operations increased by 30.2 percent to Euro 430.7 million in 2006 from Euro 330.8 million in 2005. Net income from continuing operations as a percentage of net sales increased to 9.2 percent in 2006 from 8.0 percent in 2005.
Basic earnings per share from continuing operations for 2006 were Euro 0.95 as compared to Euro 0.73 in 2005. Diluted earnings per share from continuing operations for 2006 were Euro 0.94 as compared to Euro 0.73 in 2005.
Discontinued Operations. Discontinued operations resulted in income in 2005 and a loss in 2006 mainly attributable to the seasonal nature of the operations of the Things Remembered discontinued business, which results in substantially all operational profits being realized during the fourth quarter. The operations were sold before the fourth quarter of 2006. In addition, the sale resulted in an accrual recorded by the Company for a potential tax liability.
This excerpt taken from the LUX 20-F filed Jun 29, 2007. Net Income from Continuing
Operations. Income before taxes increased by 21.3 percent to
Euro 539.3 million in 2005 from Euro 444.6 million in 2004. As a percentage of
net sales, income before taxes decreased to 13.0 percent in 2005 from 14.0
percent in 2004, mainly due to the integration of the Cole operations. Minority
interest increased to Euro (9.3) million in 2005 from Euro (8.6) million in
2004. Our effective tax rate was 37.0 percent in 2005, while it was 35.4 percent
in 2004. Net income increased by 18.5 percent to Euro 330.8 million in 2005
from Euro 279.1 million in 2004. Net income from continuing operations as a
percentage of net sales decreased to 8.0 percent in 2005 from 8.8 percent in
2004.
Basic earnings per share from continuing operations for 2005 were Euro 0.73, increasing from Euro 0.62 for 2004. Diluted earnings per share from continuing operations for 2005 were Euro 0.73 increasing from Euro 0.62 for 2004. Discontinued Operations. Discontinued operations resulted in income of Euro 11.5 million in 2005, as compared to Euro 7.8 million in 2004. The increase was due to the consolidation of the Things Remembered operations only for three months in 2004 because the acquisition date occurred on October 4, 2004. | EXCERPTS ON THIS PAGE:
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