Adobe 2009 Annual Report Download - page 77

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77
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Years Ended
November 27,
2009
November 28,
2008
November 30,
2007
Revenue:
Products ....................................................
$
2,759,391
$
3,396,542
$
3,019,524
Services and support ..........................................
186,462
183,347
138,357
Total revenue ..............................................
2,945,853
3,579,889
3,157,881
Cost of revenue:
Products ....................................................
228,897
266,389
270,818
Services and support ..........................................
67,835
96,241
83,876
Total cost of revenue .......................................
296,732
362,630
354,694
Gross profit ...................................................
2,649,121
3,217,259
2,803,187
Operating expenses:
Research and development .....................................
565,141
662,057
613,242
Sales and marketing ..........................................
981,903
1,089,341
984,388
General and administrative .....................................
298,749
337,291
274,982
Restructuring charges .........................................
41,260
32,053
555
Amortization of purchased intangibles and incomplete technology
71,555
68,246
72,435
Total operating expenses ....................................
1,958,608
2,188,988
1,945,602
Operating income ..............................................
690,513
1,028,271
857,585
Non-operating income (expense):
Interest and other income, net ..................................
31,380
43,847
82,724
Interest expense ..............................................
(3,407
)
(10,019
)
(253
)
Investment gains (losses), net ...................................
(16,966
)
16,409
7,134
Total non-operating income (expense), net ......................
11,007
50,237
89,605
Income before income taxes ......................................
701,520
1,078,508
947,190
Provision for income taxes .......................................
315,012
206,694
223,383
Net income ....................................................
$
386,508
$
871,814
$
723,807
Basic net income per share .......................................
$
0.74
$
1.62
$
1.24
Shares used in computing basic income per share ....................
524,470
539,373
584,203
Diluted net income per share .....................................
$
0.73
$
1.59
$
1.21
Shares used in computing diluted income per share ...................
530,610
548,553
598,775
See accompanying Notes to Consolidated Financial Statements.