2K Sports 2008 Annual Report Download - page 73

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TAKE-TWO INTERACTIVE SOFTWARE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
For the Years Ended October 31,
2008 2007 2006
Net revenue $1,537,530 $ 981,791 $1,037,840
Cost of goods sold 988,695 735,034 825,476
Gross profit 548,835 246,757 212,364
Selling and marketing 167,380 130,652 139,250
General and administrative 171,440 150,432 156,191
Research and development 63,929 48,455 64,258
Business reorganization and related 4,478 17,467 —
Impairment of goodwill and long-lived assets —— 15,608
Depreciation and amortization 25,755 27,449 26,399
Total operating expenses 432,982 374,455 401,706
Income (loss) from operations 115,853 (127,698) (189,342)
Interest and other (expense) income, net (3,710) (517) 4,860
Income (loss) before income taxes 112,143 (128,215) (184,482)
Provision for income taxes 15,046 10,191 407
Net income (loss) $ 97,097 $(138,406) $ (184,889)
Earnings (loss) per share:
Basic $ 1.29 $ (1.93) $ (2.60)
Diluted $ 1.28 $ (1.93) $ (2.60)
Weighted average shares outstanding:
Basic 75,039 71,860 71,012
Diluted 75,943 71,860 71,012
See accompanying Notes.
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