Adaptec 2002 Annual Report Download - page 49

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PMC−Sierra, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except for per share amounts)
(unaudited)
Year Ended December 31,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
2002 2001 2000
Net revenues 218,093 322,738 694,684
Cost of revenues 89,542 137,262 166,161
−−−−−−−−−−−−−− −−−−−−−−−−−−−− −−−−−−−−−−−−−−
Gross profit 128,551 185,476 528,523
Other costs and expenses:
Research and development 137,734 201,087 178,806
Marketing, general and administrative 63,419 90,302 100,589
Amortization of deferred stock compensation:
Research and development 2,645 32,506 32,258
Marketing, general and administrative 168 8,678 4,006
Impairment of property and equipment 1,824 − −
Restructuring costs and other special charges − 195,186 −
Impairment of goodwill and purchased intangible assets − 269,827 −
Amortization of goodwill − 44,010 36,397
Costs of merger − − 37,974
Acquisition of in process research and development − − 38,200
−−−−−−−−−−−−−− −−−−−−−−−−−−−− −−−−−−−−−−−−−−
Income (loss) from operations (77,239) (656,120) 100,293
Interest and other income, net 4,953 13,894 18,926
Gain (loss) on investments (11,579) (14,591) 58,491
−−−−−−−−−−−−−− −−−−−−−−−−−−−− −−−−−−−−−−−−−−
Income (loss) before provision for income taxes (83,865) (656,817) 177,710
Provision for (recovery of) income taxes (18,858) (17,763) 102,412
−−−−−−−−−−−−−− −−−−−−−−−−−−−− −−−−−−−−−−−−−−
Net income (loss) $ (65,007) $ (639,054) $ 75,298
============== ============== ==============
Net income (loss) per common share − basic $ (0.38) $ (3.80) $ 0.46
============== ============== ==============
Net income (loss) per common share − diluted $ (0.38) $ (3.80) $ 0.41
============== ============== ==============
Shares used in per share calculation − basic 170,107 167,967 162,377
Shares used in per share calculation − diluted 170,107 167,967 181,891
See notes to the consolidated financial statements.
48