Choice Hotels International Income Statement

Quarterly: March 2012 - December 2009 Previous Quarters
Annual

Income	2012-03	2011-12	2011-09	2011-06	2011-03	2010-12	2010-09	2010-06	2010-03	2009-12
Revenue	129.17M	165.89M	192.32M	165.30M	115.28M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Cost of Revenue	0.809M	0.873M	0.90M	0.86M	0.833M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Gross Profit	128.36M	165.02M	191.42M	164.44M	114.45M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Research & Development Expense						Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Selling, General, & Admin. Expense	95.28M	124.31M	126.95M	117.37M	86.81M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Depreciation & Amortization	2.017M	2.048M	2.073M	1.948M	1.955M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Operating Interest Expense						Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Other Operating Income (Expense)						Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Total Operating Expenses	98.10M	127.23M	129.92M	120.18M	89.60M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Operating Income	31.06M	38.66M	62.40M	45.12M	25.68M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Non-Operating Income	-0.832M	-1.608M	-5.434M	-3.008M	-3.756M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Pretax Income	30.23M	37.05M	56.97M	42.11M	21.92M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Provision for Income Taxes	10.24M	12.27M	14.66M	14.54M	6.193M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Income after Tax	20.00M	24.79M	42.30M	27.58M	15.73M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Minority Interest						Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Minority Interest						Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Equity In Affiliates						Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Income Before Extraordinaries & Disc. Operations	20.00M	24.79M	42.30M	27.58M	15.73M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Investment Gains/Losses						Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Other Income/Charges						Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Income from Discontinued Operations						Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Net Income	20.00M	24.79M	42.30M	27.58M	15.73M	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Earnings Per Share Data	2012-03	2011-12	2011-09	2011-06	2011-03	2010-12	2010-09	2010-06	2010-03	2009-12
Average Shares to compute diluted EPS	57.72	58.93	59.22	59.32	59.23	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
Average Shares used to compute basic EPS	57.62	58.86	59.18	59.24	59.08	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
EPS - Basic net	0.34	0.43	0.71	0.46	0.26	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro
EPS - Diluted net	0.34	0.42	0.71	0.46	0.26	Go Pro	Go Pro	Go Pro	Go Pro	Go Pro