Symantec 1999 Annual Report Download - page 63

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The accompanying Summary of Significant Accounting Policies and Notes to Consolidated Financial Statements are an
integral part of these statements.
49
SYMANTEC CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended March 31,
(In thousands, except net income per share) 1999 1998 1997
Net revenues $592,628 $532,940 $452,933
Cost of revenues 96,558 87,431 83,033
Gross margin 496,070 445,509 369,900
Operating expenses:
Research and development 101,563 91,332 88,924
Sales and marketing 286,144 261,190 220,811
General and administrative 35,722 38,063 34,030
In-process research and development 27,465 -- 3,050
Amortization of goodwill and other intangibles 6,405 -- --
Litigation judgment 5,825 -- --
Restructuring and other expenses 5,105 -- 5,535
Total operating expenses 468,229 390,585 352,350
Operating income 27,841 54,924 17,550
Interest income 13,552 13,160 7,182
Interest expense (1,839) (1,218) (1,402)
Income, net of expense, from sale of technologies
and product lines 41,155 45,421 8,739
Other income (expense), net 2,464 (190) (1,691)
Income before income taxes 83,173 112,097 30,378
Provision for income taxes 32,972 27,008 4,340
Net income $ 50,201 $ 85,089 $ 26,038
Net income per share - basic $ 0.89 $ 1.52 $ 0.48
Net income per share - diluted $ 0.86 $ 1.42 $ 0.47
Shares used to compute net income per share - basic 56,601 56,097 54,705
Shares used to compute net income per share - diluted 59,289 60,281 55,407