Adobe 2001 Annual Report Download - page 61

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ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Years Ended
November 30, December 1, December 3,
2001 2000 1999
Revenue ......................................... $1,229,720 $1,266,378 $1,015,434
Direct costs ...................................... 81,451 87,255 94,540
Gross profit ...................................... 1,148,269 1,179,123 920,894
Operating expenses:
Research and development .......................... 224,122 240,212 197,476
Sales and marketing .............................. 403,720 401,188 328,505
General and administrative ......................... 115,626 116,528 103,622
Restructuring and other charges ...................... 12,063 5,629 23,028
Amortization of goodwill and purchased intangibles ........ 14,281 7,013 4,830
Acquired in-process research and development ........... — 470 3,580
Total operating expenses ............................. 769,812 771,040 661,041
Operating income .................................. 378,457 408,083 259,853
Nonoperating income (loss), net:
Investment gain (loss), net .......................... (93,414) 14,345 88,891
Interest and other income .......................... 21,888 21,311 25,683
Total nonoperating income (loss), net .................... (71,526) 35,656 114,574
Income before income taxes .......................... 306,931 443,739 374,427
Income tax provision ................................ 101,287 155,931 136,676
Net income ...................................... $ 205,644 $ 287,808 $ 237,751
Basic net income per share ........................... $ 0.86 $ 1.21 $ 0.98
Shares used in computing basic net income per share ........ 238,461 238,292 241,572
Diluted net income per share ......................... $ 0.83 $ 1.13 $ 0.92
Shares used in computing diluted net income per share ...... 249,145 255,774 258,410
See accompanying Notes to Consolidated Financial Statements.
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