Big 5 Sporting Goods (BGFV) 8-K Big 5 Sporting Goods Corporation Announces Preliminary Fiscal 2004 Fourth Quarter and Full Year Results

BIG 5 SPORTING GOODS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Preliminary and Unaudited)
(in thousands, except earnings per share data)

	As Previously		As Preliminarily
	Reported		Restated		As Previously Reported							As Preliminarily Restated
	13 Weeks Ended		13 Weeks Ended		52 Weeks Ended							52 Weeks Ended
	December 28,		December 28,		December 28,		December 29,		December 30,			December 28,		December 29,		December 30,
	2003		2003		2003		2002		2001			2003		2002		2001
Net sales	$	191,823	$	191,823	$	709,740	$	667,469	$	622,481		$	709,740	$	667,469	$	622,481
Cost of goods sold, buying and occupancy		121,554		123,849		453,814		429,858		407,679			456,109		433,405		409,784
Gross profit		70,269		67,974		255,926		237,611		214,802			253,631		234,064		212,697
Selling and administrative		46,807		46,807		186,798		174,868		160,044			186,798		174,868		160,044
Litigation settlement		—		—		—		—		2,515			—		—		2,515
Depreciation and amortization		2,784		2,784		10,412		9,966		10,031			10,412		9,966		10,031
Operating income		20,678		18,383		58,716		52,777		42,212			56,421		49,230		40,107
Premium and unamortized financing fees related to redemption of debt		1,901		1,901		3,434		4,557		(2,662	)		3,434		4,557		(2,662	)
Interest expense, net		2,661		2,661		11,405		15,825		19,629			11,405		15,825		19,629
Income before income taxes		16,116		13,821		43,877		32,395		25,245			41,582		28,848		23,140
Income tax		6,189		5,269		17,587		13,313		10,280			16,667		11,855		9,423
Net income	$	9,927	$	8,552		26,290		19,082		14,965			24,915		16,993		13,717
Redeemable preferred stock dividends and redemption premium		—		—		—		7,999		7,284			—		7,999		7,284
Net income available to common stockholders		—		—		—	$	11,083	$	7,681			—	$	8,994	$	6,433
Earnings per share:
Basic	$	0.44	$	0.38	$	1.16	$	0.60	$	0.54		$	1.10	$	0.49	$	0.45
Diluted	$	0.43	$	0.37	$	1.16	$	0.57	$	0.48		$	1.10	$	0.46	$	0.40
Shares used to calculate earnings per share:
Basic		22,664		22,664		22,651		18,358		14,247			22,651		18,358		14,249
Diluted		22,832		22,832		22,753		19,476		16,090			22,753		19,476		16,090

BIG 5 SPORTING GOODS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Preliminary and Unaudited)
(in thousands)

	As Previously Reported							As Preliminarily Restated
	December 28,		December 29,			December 30,		December 28,		December 29,			December 30,
	2003		2002			2001		2003		2002			2001
Assets
Current Assets
Cash	$	9,030	$	7,865		$	9,030	$	9,441	$	9,441		$	7,865
Merchandise inventory		179,555		163,680			179,555		169,529		169,529			163,680
Other current assets		16,539		9,698			16,539		11,442		11,442			9,698
Total current assets		205,124		181,243			205,124		190,412		190,412			181,243
Property and equipment, net		46,952		42,650			46,952		45,104		45,104			42,650
Other long-term assets		19,949		29,990			19,949		22,459		22,459			29,990
Total assets	$	272,025	$	253,883		$	272,025	$	257,975	$	257,975		$	253,883
Liabilities and Stockholders’ Equity (Deficit)
Accounts payable	$	76,004	$	62,307		$	84,788	$	67,937	$	74,426		$	65,249
Other accrueds		54,717		52,643			54,147		49,708		47,058			51,451
Deferred rent		—		11,096			—		11,525		11,525			11,096
Long-term debt		—		153,351			—		125,131		125,131			153,351
Total liabilities		130,721		279,397			135,935		254,301		258,140			281,148
Preferred stock		—		58,911			—		—		—			58,911
Net stockholders’ equity(deficit)		29,964		(84,425	)		24,750		3,674		(165	)		(86,175	)
Total liabilities, preferred stock and stockholders’ equity (deficit)	$	272,025	$	253,883		$	272,025	$	257,975	$	257,975		$	253,883