Symantec 2008 Annual Report Download - page 150
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SYMANTEC CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
March 28,
2008
March 30,
2007
March 31,
2006
Year Ended
(In thousands, except net income per share)
Net revenues:
Content, subscriptions, and maintenance ................... $4,561,566 $3,917,572 $2,873,211
Licenses ........................................... 1,312,853 1,281,794 1,270,181
Total net revenues .................................. 5,874,419 5,199,366 4,143,392
Cost of revenues:
Content, subscriptions, and maintenance ................... 826,339 823,525 621,636
Licenses ........................................... 44,664 49,968 45,943
Amortization of acquired product rights .................... 349,327 342,333 314,290
Total cost of revenues ............................... 1,220,330 1,215,826 981,869
Gross profit ........................................ 4,654,089 3,983,540 3,161,523
Operating expenses:
Sales and marketing .................................. 2,415,264 2,007,651 1,499,904
Research and development ............................. 895,242 866,882 682,125
General and administrative ............................. 347,642 316,783 228,563
Amortization of other purchased intangible assets ............ 225,131 201,502 148,822
Acquired in-process research and development............... — — 285,100
Restructuring ....................................... 73,914 70,236 24,918
Integration ......................................... — 744 15,926
Loss on sale of a business .............................. 94,616 — —
Patent settlement..................................... — — 2,200
Total operating expenses ............................. 4,051,809 3,463,798 2,887,558
Operating income ...................................... 602,280 519,742 273,965
Interest income ...................................... 76,896 122,043 108,404
Interest expense ..................................... (29,480) (27,233) (17,996)
Settlements of litigation, net ............................ 58,500 — —
Other income (expense), net ............................ 4,327 17,070 (1,650)
Income before income taxes .............................. 712,523 631,622 362,723
Provision for income taxes ............................. 248,673 227,242 205,871
Net income .......................................... $ 463,850 $ 404,380 $ 156,852
Earnings per share — basic ............................... $ 0.53 $ 0.42 $ 0.16
Earnings per share — diluted ............................. $ 0.52 $ 0.41 $ 0.15
Shares used to compute earnings per share — basic ............. 867,562 960,575 998,733
Shares used to compute earnings per share — diluted............ 884,136 983,261 1,025,856
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
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