Electronic Arts 2000 Annual Report Download - page 39

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EA 2000 AR
37
CONSOLIDATED STATEMENTS OF INCOME
Years Ended March 31, 2000 1999 1998
(In thousands, except per share data)
Net revenues $ 1,420,011 $ 1,221,863 $ 908,852
Cost of goods sold 705,808 627,823 481,233
Gross profit 714,203 594,040 427,619
Operating expenses:
Marketing and sales 188,628 163,407 128,308
General and administrative 92,502 76,219 57,838
Research and development 260,759 199,141 145,732
Charge for acquired in-process technology 6,539 44,115 1,500
Merger costs – – 10,792
Amortization of intangibles 11,989 5,880 –
Total operating expenses 560,417 488,762 344,170
Operating income 153,786 105,278 83,449
Interest and other income, net 16,028 13,180 24,811
Income before provision for income taxes
and minority interest 169,814 118,458 108,260
Provision for income taxes 52,642 45,414 35,726
Income before minority interest 117,172 73,044 72,534
Minority interest in consolidated joint venture (421) (172) 28
Net income $ 116,751 $ 72,872 $ 72,562
Net income per share:
Basic $ 1.86 $ 1.20 $ 1.23
Diluted $ 1.76 $ 1.15 $ 1.19
Number of shares used in computation:
Basic 62,830 60,748 58,867
Diluted 66,371 63,272 60,958
SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, INCLUDING SEGMENT INFORMATION IN NOTE 18.
CONSOLIDATED STATEMENTS OF INCOME
ELECTRONIC ARTS AND SUBSIDIARIES