Antigua Enterprises Inc. saw net sales for the full fiscal year increase 5.1% to $45.9 million from $43.7 million the year before. Net income, however, slipped 11.5% to $2.1 million from $2.4 million one year ago. Diluted earnings per share reflected this, decreasing to 5 cents per share, from 6 cents per share last year.
Consolidated Statements of Income for
Years Ended Dec. 31, 2005 & 2004 (in U.S. Dollars):
2005 2004
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Sales $45,902,005 $43,672,907
Cost of Sales 28,613,589 26,999,417
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Gross Profit 17,288,416 16,673,490
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Selling Expenses 9,172,921 8,551,801
General and Administrative Expenses 4,682,946 4,415,598
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Operating Expenses 13,855,867 12,967,399
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Income before other income (expense) and
provision for income taxes 3,432,549 3,706,091
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Other Income (Expense):
Interest Expense (1,421,593) (1,371,022)
Income from investment subject to significant
influence 169,480 -
Other 78,396 106,319
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(1,173,717) (1,264,703)
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Income Before Income Taxes 2,258,832 2,441,388
Provision for Income Taxes (130,000) (37,000)
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Net Income $2,128,832 $2,404,388
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Net Income Per Share $0.05 $0.06
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Weighted Average
Common Shares Outstanding 42,569,930 41,999,202
