Symantec 2000 Annual Report Download - page 33

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0{ 33
SYMANTEC CORPORATION CONSOLIDATED STATEMENTS OF INCOME
Year Ended March 31,
(In thousands, except net income per share) 2000 1999 1998
Net revenues $ 745,725 $ 592,628 $ 532,940
Cost of revenues 121,073 96,558 87 ,431
Gross margin 624,652 496,070 445,509
Operating expenses:
Research and development 108,425 101,563 91,332
Sales and marketing 306,755 286,144 261 , 190
General and administrative 42,150 35,722 38 ,063
Amortization of goodwill 17,884 6 , 175 —
Amortization of intangibles from acquisitions 917 230 —
Acquired in-process research and development 4,300 27,465 —
Restructuring and other expenses 9,018 5,105 —
Litigation judgment — 5,825 —
Total operating expenses 489,449 468,229 390,585
Operating income 135,203 27,841 54,924
Interest income 13,408 13,552 13,160
Interest expense (22) (1,839) (1,218)
Income, net of expense, from sale of technologies and product lines 107,358 41,155 45,421
Other income (expense), net 1,344 2,464 (190)
Income before income taxes 257,291 83,173 112,097
Provision for income taxes 87,143 32,972 27,008
Net income $ 170,148 $ 50,201 $ 85,089
Net income per share - basic $ 2.94 $ 0.89 $ 1.52
Net income per share - diluted $ 2.73 $ 0.86 $ 1.42
Shares used to compute net income per share - basic 57,870 56,601 56 ,097
Shares used to compute net income per share - diluted 62,214 59,289 60,281
The accompanying summary of significant accounting policies and notes to consolidated financial statements are an integral part of these statements.