---

 

 

 

 

 

		February 24,  2007 (Unaudited)			August 26, 2006
ASSETS
Current Assets:
Cash and cash equivalents		$	5,054		$	7,718
Accounts receivable, net of allowance for doubtful accounts			197,894			185,734
Inventories			309,754			298,391
Prepaid expenses and other current assets			20,190			21,341
Deferred income taxes			17,430			14,289
Total current assets			550,322			527,473
Property, plant and equipment, net			127,351			122,100
Goodwill			272,568			271,652
Identifiable intangibles, net			74,675			76,292
Other assets			11,477			16,781
Total Assets		$	1,036,393		$	1,014,298
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Revolving credit notes		$	30,000		$	--
Current maturities of long-term notes payable			23,220			7,843
Accounts payable			67,768			56,877
Accrued liabilities			57,249			88,007
Total current liabilities			178,237			152,727
Long-term notes payable			177,531			192,986
Deferred income tax liabilities			31,419			29,312
Total liabilities			387,187			375,025
Shareholders’ Equity:
Preferred Stock			--			--
Class A common stock			58			57
Class B common stock			19			19
Additional paid-in capital			389,398			379,630
Retained earnings			540,211			477,305
Cumulative translation adjustment			406			27
Class A treasury stock, at cost			(280,886	)		(217,765	)
Total shareholders’ equity			649,206			639,273
Total Liabilities and Shareholders’ Equity		$	1,036,393		$	1,014,298

 

 

 

		Thirteen Weeks Ended						Twenty-Six Weeks Ended
		February 24, 2007			February 25, 2006			February 24, 2007			February 25, 2006
Net sales		$	404,618		$	305,927		$	806,630		$	601,833
Cost of goods sold			217,017			160,487			433,338			317,533
Gross profit			187,601			145,440			373,292			284,300
Operating expenses			118,032			91,358			234,517			178,694
Income from operations			69,569			54,082			138,775			105,606
Other (Expense) Income:
Interest expense			(3,336	)		(7	)		(6,542	)		(14	)
Interest income			161			1,081			437			1,935
Other (expense) income, net			(12	)		58			(33	)		151
Total other (expense) income			(3,187	)		1,132			(6,138	)		2,072
Income before provision for income taxes			66,382			55,214			132,637			107,678
Provision for income taxes			25,875			21,885			51,834			42,414
Net income		$	40,507		$	33,329		$	80,803		$	65,264
Per Share Information:
Net income per common share:
Basic		$	0.62		$	0.50		$	1.22		$	0.98
Diluted		$	0.61		$	0.49		$	1.20		$	0.96
Weighted average shares used in computing net income per common share
Basic			65,599			66,773			66,050			66,571
Diluted			66,781			68,327			67,258			68,054
Cash dividends declared per common share		$	0.14		$	0.14		$	0.28		$	0.26

 

 

 

		Twenty-Six Weeks Ended
		February 24, 2007			February 25, 2006
Cash Flows from Operating Activities:
Net income		$	80,803		$	65,264
Adjustments to reconcile net income to net cash  provided by operating activities:
Depreciation and amortization			12,558			6,272
Gain on sale of securities			--			(858	)
Stock-based compensation			4,296			5,040
Loss on disposal of property, plant and equipment			152			--
Provision for doubtful accounts			2,112			1,320
Deferred income taxes			(1,034	)		(1,974	)
Amortization of bond premiums			--			146
Reclassification of excess tax benefits from stock-based compensation			(1,654	)		(4,081	)
Changes in operating assets and liabilities:
Accounts receivable			(14,272	)		(20,977	)
Inventories			(11,363	)		(10,506	)
Prepaid expenses and other current assets			1,530			2,329
Other assets			5,212			4,298
Accounts payable and accrued liabilities			(4,623	)		1,606
Total adjustments			(7,086	)		(17,385	)
Net cash provided by operating activities			73,717			47,879
Cash Flows from Investing Activities:
Proceeds from sales of investments in available-for-sale securities			--			138,068
Purchases of investments in available-for-sale securities			--			(119,008	)
Business acquisition			(12,798	)		--
Expenditures for property, plant and equipment			(14,729	)		(8,033	)
Net cash (used in) provided by investing activities			(27,527	)		11,027
Cash Flows from Financing Activities:
Purchase of treasury stock			(67,096	)		--
Payment of cash dividends			(18,569	)		(17,390	)
Reclassification of excess tax benefits from stock-based compensation			1,654			4,081
Proceeds from sale of Class A common stock in connection with associate stock purchase plan			1,547			1,222
Proceeds from exercise of Class A common stock options			3,688			8,068
Net proceeds under revolving loans from credit facility			30,000			--
Repayments of notes payable			(78	)		(76	)
Net cash used in financing activities			(48,854	)		(4,095	)
Net (decrease) increase in cash and cash equivalents			(2,664	)		54,811
Cash and cash equivalents - beginning of period			7,718			41,020
Cash and cash equivalents - end of period		$	5,054		$	95,831
Supplemental Disclosure of Cash Flow Information:
Cash paid for income taxes		$	55,917		$	40,073
Cash paid for interest		$	6,174		$	7