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In 2006, POOLCORP was presented with numerous
challenges. These challenges offered a plethora of opportunities
to determine the best allocation of resources in order to maximize
long-term growth. The following list illustrates some of our choices
to achieve that goal:
2006 Investments for the Future:
• 17 new sales centers opened (a record)
to further expand our SCP, SPP, Horizon and international networks.
Though these new openings cost us an estimated $0.06 in 2006 diluted
earnings per share, they will provide long-term growth in sales
and earnings.
• The acquisition of Wickham Supply in August
2006 added 14 sales centers to our Horizon network. This provides
us an important presence in the strategic Texas market coupled with
an entry into the southeastern states.
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With these investments for the future and
despite reduced home building and a slowing economy, we still managed
to increase earnings per share by 20%. This marked our 11th consecutive
year of 20% plus earnings per share growth.
In 2007, we look for more of the same: Continued
investments for future growth; customer centric enhancements to
our business; and continued strong earnings growth.
We are very fortunate to be part of a young
and vibrant industry with tremendous growth potential. Our managers
and employees are the ones that convert opportunity into positive
results. We are very grateful to each of them as we share in our
collective success.
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