Electronic Arts 2000 Annual Report Download - page 15

EA 2000 AR
13
SELECTED FIVE-YEAR FINANCIAL DATA
SELECTED FIVE-YEAR FINANCIAL DATA
ELECTRONIC ARTS AND SUBSIDIARIES
Years Ended March 31 2000 1999 1998 1997 1996
(In thousands, except per share data)
INCOME STATEMENT DATA
Net revenues $1,420,011 $1,221,863 $ 908,852 $ 673,028 $ 587,299
Cost of goods sold 705,808 627,823 481,233 328,943 291,491
Gross profit 714,203 594,040 427,619 344,085 295,808
Operating expenses:
Marketing and sales 188,628 163,407 128,308 102,072 85,771
General and administrative 92,502 76,219 57,838 48,489 37,711
Research and development 260,759 199,141 145,732 130,755 108,043
Charge for acquired in-process technology 6,539 44,115 1,500 – 2,232
Merger costs – – 10,792 – –
Amortization of intangibles 11,989 5,880–––
Total operating expenses 560,417 488,762 344,170 281,316 233,757
Operating income 153,786 105,278 83,449 62,769 62,051
Interest and other income, net 16,028 13,180 24,811 13,279 7,514
Income before provision for income taxes
and minority interest 169,814 118,458 108,260 76,048 69,565
Provision for income taxes 52,642 45,414 35,726 26,003 22,584
Income before minority interest 117,172 73,044 72,534 50,045 46,981
Minority interest in consolidated joint venture (421) (172) 28 1,282 (304)
Net income $ 116,751(a) $72,872(b) $72,562(c) $51,327 $ 46,677(d)
Net income per share amounts:
Basic $ 1.86(a) $1.20(b) $1.23(c) $0.89 $ 0.84(d)
Diluted $ 1.76(a) $1.15(b) $1.19(c) $0.86 $ 0.80(d)
Number of shares used in computation:
Basic 62,830 60,748 58,867 57,544 55,685
Diluted 66,371 63,272 60,958 59,557 58,190
BALANCE SHEET DATA AT FISCAL YEAR END
Cash, cash equivalents and
short-term investments $ 339,804 $ 312,822 $ 374,560 $ 268,141 $ 190,873
Marketable securities 236 4,884 3,721 5,548 37,869
Working capital 440,021 333,256 408,098 284,863 247,001
Long-term investments 8,400 18,400 24,200 34,478 30,319
Total assets 1,192,312 901,873 745,681 584,041 489,496
Total liabilities 265,302 236,209 181,713 136,237 108,668
Minority interest 3,617 2,733 – 28 1,277
Total stockholders’ equity 923,393 662,931 563,968 447,776 379,551
NOTE: THE SELECTED FIVE-YEAR FINANCIAL DATA HAS BEEN RESTATED TO REFLECT THE ACQUISITION OF MAXIS, INC. WHICH WAS ACCOUNTED FOR AS A POOLING OF INTEREST.
(a) NET INCOME AND NET INCOME PER SHARE INCLUDE ONE-TIME ACQUISITION RELATED CHARGES OF $4.5 MILLION, NET OF TAXES, INCURRED IN CONNECTION WITH THE ACQUISITION OF KESMAI AND OTHER BUSI-
NESS COMBINATIONS MADE DURING THE YEAR AS WELL AS GOODWILL AMORTIZATION OF $8.3 MILLION, NET OF TAXES.
(b) NET INCOME AND NET INCOME PER SHARE INCLUDE ONE-TIME ACQUISITION RELATED CHARGES OF $37.5 MILLION, NET OF TAXES, INCURRED IN CONNECTION WITH THE ACQUISITION OF WESTWOOD STUDIOS
AND OTHER BUSINESS COMBINATIONS MADE DURING THE YEAR AS WELL AS GOODWILL AMORTIZATION OF $4.0 MILLION, NET OF TAXES.
(c) NET INCOME AND NET INCOME PER SHARE INCLUDE ONE-TIME ACQUISITION RELATED CHARGES OF $1.0 MILLION, NET OF TAXES, INCURRED IN CONNECTION WITH THE ACQUISITION OF THE REMAINING MINOR-
ITY OWNERSHIP INTEREST IN ELECTRONIC ARTS VICTOR, INC. AS WELL AS MERGER COSTS OF $7.2 MILLION, NET OF TAXES, ASSOCIATED WITH THE MERGER WITH MAXIS, OFFSET BY A ONE-TIME GAIN ON SALE
OF CREATIVE WONDERS. LLC IN THE AMOUNT OF $8.5 MILLION, NET OF TAXES.
(d) NET INCOME AND NET INCOME PER SHARE INCLUDE ONE-TIME ACQUISITION RELATED CHARGES OF $1.5 MILLION, NET OF TAXES, INCURRED IN CONNECTION WITH THE ACQUISITION OF CINEMATRONICS LLC MADE
BY MAXIS PRIOR TO THE MAXIS MERGER WITH ELECTRONIC ARTS.
PLEASE REFER TO MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR DISCUSSIONS OF EA CORE AND EA.COM PROFORMA FINANCIAL STATEMENTS.