Christian Louboutin Shoes 31
March 9, 2010Primarily all of these U.S. retail stores are located in factory direct
outlet malls.
Amortization of intangibles decreased due to the write-down in tile
fourth quarter of 1995 of the carrying value of Avia to estimated fair
value on sale.
Minority interest represents the minority shareholders’ proportionate
share of the net income of certain of the Company’s consolidated
subsidiaries.
Interest expense increased from $25.7 million in 1995 to $4.2.2 million
in 1996 as a result of increased borrowings to fund the purchase of
approximately 17.0 million shares of the Company’s common stock in
connection with the Company’s Dutch Auction self-tender offer, which
was completed in August 1996.
Year-to-year earnings per share comparisons benefited from the
Company’s share repurchase programs and the repurchase of shares
pursuant to the Dutch Auction. Weighted average common shares
outstanding for the year ended December 31, 1996 declined to 69.6
million, compared to 79.5 million shares for the year ended December
31, 1995.
The Company’s footwear and apparel production operations are subject to
the usual risks of doing business abroad, such as import duties, quotas
and other threats to free trade, foreign currency fluctuations, labor
unrest and political instability. The Company believes that it has the
ability to develop, over time, adequate substitute sources of supply
for the products obtained from present foreign suppliers. If, however,Christian Louboutin Shoes,
events should prevent the Company from acquiring products from its
suppliers in Indonesia, China, Thailand or the Philippines, or
significantly increase the cost to the Company of such products, the
Company’s operations could be seriously disrupted until alternative
suppliers are found.
