1999 Annual Report
Letter to Shareholders
Year in Review
Financial Highlights
Report of Independent Accountants
About Gallaudet University
Board of Directors and Executive Officers
Annual Report Download


(in thousands, except per share amounts)

1995 1996 1997 1998 1999
 Operating Results
Net sales

$3,676,328 $5,035,228 $6,293,680 $7,467,925 $8,645,561
Gross margin

$606,094 $936,155 $1,076,441 $1,546,274 $1,899,817
Net income

$172,981 $250,679 $109,797 $346,399 $427,944
Net income per share:
   Basic
   Diluted


$0.60
$0.55

$0.82
$0.80

$0.36
$0.35

$1.11
$1.09

$1.36
$1.32
 Financial Position
Total assets

$1,124,011 $1,673,411 $2,039,271 $2,890,380 $3,954,688
Long-term obligations, net of current maturities

$10,805 $7,244 $7,240 $3,360 $2,998
 Key Ratios
Days of sales in
accounts receivable

29 26 23 22 24
Days inventory
on hand

20 17 17 9 9
Days in
accounts payable

21 29 27 36 43
Cash
conversion cycle

28 14 13 (5) (10)
 Other Data
Employees
(year end, approximate)

9,300 9,700 13,300 19,300 21,000
Weighted average
shares outstanding:
   Basic
   Diluted



290,512
315,976


305,490
312,474


307,680
312,402


311,084
317,857


313,974
324,421
Closing stock price

$6.13 $13.39 $16.38 $25.59 $72.06
Market capitalization $1,828,036 $4,111,051 $5,049,233 $8,013,201 $23,080,353

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