EX-13 3 c88104exv13.txt REGISTRANT'S 2004 ANNUAL REPORT TO STOCKHOLDERS . . . EXHIBIT 13 REGISTRANT'S 2004 ANNUAL REPORT TO SHAREHOLDERS FINANCIAL HIGHLIGHTS:
Fiscal Year Ended Income Statement Data (1) --------------------------------------------------------------- ------------------------- June 30, June 30, June 30, June 30, June 30, (in thousands, except share and per share data) 2004 2003 2002 2001 2000 ----------------------------------------------- ----------- ----------- ----------- ----------- ----------- Net sales $ 2,251,190 $ 2,223,388 $ 2,453,748 $ 1,645,993 $ 1,458,047 Gross profit 103,395 90,699 102,831 68,824 56,422 Income from operations 31,739 36,387 46,339 26,946 22,299 Net income 10,214 9,686 21,059 9,144 8,199 Pro forma net income (2) 10,214 15,140 21,059 9,144 8,199 Diluted earnings per share (2) 0.71 0.65 1.42 1.01 0.92 Pro forma diluted earnings per share(2)(3) 0.71 1.03 1.42 1.01 0.92 Diluted common shares outstanding 14,137,044 14,513,116 14,677,781 9,131,514 9,099,752
Balance Sheet Data ------------------ (in thousands) June 30, 2004 June 30, 2003 June 30, 2002 June 30, 2001 June 30, 2000 ------------------ ------------- ------------- ------------- ------------- ------------- Current assets $634,300 $404,129 $413,914 $270,050 $237,494 Working capital 382,900 215,639 182,636 97,533 93,556 Total assets 743,871 472,695 483,138 330,204 294,419 Long-term debt 307,693 110,423 81,457 94,489 99,647 Stockholders' equity 179,330 170,079 167,397 57,510 45,265
(1) Refer to page 2 of the Form 10-K for a description of significant company events that explain income statement and balance sheet trends. (2) In fiscal 2003, pro forma net income and pro forma diluted earnings per share exclude a one-time charge for an accounting change related to the adoption of SFAS 142 (reduced diluted EPS by $0.30 and net income by $4,249) and the termination of the company's accounts receivable securitization program (reduced diluted EPS by $0.08 and net income by $1,205). (3) Adjusted to reflect 2-for-1 stock split effective April 12, 2002. PRICE RANGE PER COMMON SHARE: D&K Healthcare's common stock trades on the Nasdaq Stock Market under the trading symbol "DKHR". Prior to July 1, 2003, D&K Healthcare's common stock was traded on the Nasdaq Stock Market under the trading symbol "DKWD". As of September 7, 2004, there were approximately 4,600 shareholders based on the number of record holders and an estimated number of beneficial holders of the company's common stock. The following table sets forth the high and low sale prices of D&K Healthcare common stock for the periods indicated.
2004 Low High First Quarter $ 13.09 $ 18.35 Second Quarter 12.02 15.90 Third Quarter 9.70 14.50 Fourth Quarter 10.00 14.91
2003 Low High First Quarter $ 8.12 $ 34.81 Second Quarter 7.38 10.75 Third Quarter 8.25 10.56 Fourth Quarter 10.18 16.43
CORPORATE OFFICES: D&K Healthcare Resources, Inc. 8235 Forsyth Boulevard St. Louis, Missouri 63105 (888) 727-3485 (314) 727-3485 Fax: (314) 727-5759 web: www.dkhealthcare.com TRANSFER AGENT REGISTRAR: Computershare Investor Services LLC 2 North LaSalle Street Chicago, Illinois 60602 (312) 588-4192 www.computershare.com/contactus AUDITORS: KPMG LLP St. Louis, Missouri COUNSEL: Armstrong Teasdale LLP St. Louis, Missouri ANNUAL MEETING: The annual meeting of stockholders will be held at 10:00 a.m. Wednesday, November 10, 2004, at the company's corporate office, 8235 Forsyth Boulevard, 9th Floor, St. Louis, Missouri.