Electronic Arts 2008 Annual Report Download - page 104
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Item 6: Selected Financial Data
ELECTRONIC ARTS INC. AND SUBSIDIARIES
SELECTED FIVE-YEAR CONSOLIDATED FINANCIAL DATA
(In millions, except per share data)
STATEMENTS OF OPERATIONS DATA 2008 2007
(a)
2006 2005 2004
Year Ended March 31,
Net revenue .................................... $3,665 $3,091 $2,951 $3,129 $2,957
Cost of goods sold ............................... 1,805 1,212 1,181 1,197 1,103
Gross profit .................................. 1,860 1,879 1,770 1,932 1,854
Operating expenses:
Marketing and sales ............................ 588 466 431 391 370
General and administrative ....................... 339 288 215 221 185
Research and development ....................... 1,145 1,041 758 633 511
Amortization of intangibles ....................... 34 27 7 3 3
Acquired in-process technology .................... 138 3 8 13 —
Restructuring charges ........................... 103 15 26 2 9
Total operating expenses ....................... 2,347 1,840 1,445 1,263 1,078
Operating income (loss) ......................... (487) 39 325 669 776
Losses on strategic investments ...................... (118) — — — —
Interest and other income, net ....................... 98 99 64 56 21
Income (loss) before provision for (benefit from) income
taxes and minority interest ...................... (507) 138 389 725 797
Provision for (benefit from) income taxes .............. (53) 66 147 221 220
Income (loss) before minority interest ............... (454) 72 242 504 577
Minorityinterest................................. — 4 (6) — —
Net income (loss) .............................. $ (454) $ 76 $ 236 $ 504 $ 577
Net income (loss) per share:
Basic ..................................... $(1.45) $ 0.25 $ 0.78 $ 1.65 $ 1.95
Diluted.................................... $(1.45) $ 0.24 $ 0.75 $ 1.59 $ 1.87
Number of shares used in computation:
Basic ..................................... 314 308 304 305 295
Diluted.................................... 314 317 314 318 308
BALANCE SHEET DATA
Cash and cash equivalents .......................... $1,553 $1,371 $1,242 $1,270 $2,150
Short-term investments ............................ 734 1,264 1,030 1,688 264
Marketable equity securities ........................ 729 341 160 140 1
Working capital ................................. 2,626 2,571 2,143 2,899 2,185
Total assets..................................... 6,059 5,146 4,386 4,370 3,464
Long-term liabilities .............................. 421 88 97 54 42
Total liabilities .................................. 1,720 1,114 966 861 786
Minorityinterest................................. — — 12 11 —
Total stockholders’ equity .......................... 4,339 4,032 3,408 3,498 2,678
(a)
Beginning in fiscal 2007, we adopted Statement of Financial Accounting Standard No. 123 (revised 2004)
(“SFAS No. 123(R)”), “Share-Based Payment” which requires us to begin expensing stock-based compen-
sation. See Note 12 of the Notes to Consolidated Financial Statements for a detailed functional line-item
breakdown of our stock-based compensation expense.
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