Adobe 2010 Annual Report Download - page 83

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83
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Years Ended
December 3,
2010
November 27,
2009
November 28,
2008
Revenue:
Products ................................................................................................
$
3,159,161
$
2,684,789
$
3,354,554
Subscription ..........................................................................................
386,805
74,602
41,988
Services and support .............................................................................
254,034
186,462
183,347
Total revenue ....................................................................................
3,800,000
2,945,853
3,579,889
Cost of revenue:
Products ................................................................................................
127,453
180,611
243,180
Subscription ..........................................................................................
195,595
48,286
23,209
Services and support .............................................................................
80,454
67,835
96,241
Total cost of revenue.........................................................................
403,502
296,732
362,630
Gross profit ...............................................................................................
3,396,498
2,649,121
3,217,259
Operating expenses:
Research and development ...................................................................
680,332
565,141
662,057
Sales and marketing ..............................................................................
1,244,197
981,903
1,089,341
General and administrative ...................................................................
383,499
298,749
337,291
Restructuring charges ...........................................................................
23,266
41,260
32,053
Amortization of purchased intangibles and incomplete technology .....
72,130
71,555
68,246
Total operating expenses ..................................................................
2,403,424
1,958,608
2,188,988
Operating income ......................................................................................
993,074
690,513
1,028,271
Non-operating income (expense):
Interest and other income (expense), net ..............................................
13,139
31,380
43,847
Interest expense ....................................................................................
(56,952
)
(3,407
)
(10,019
)
Investment gains (losses), net ...............................................................
(6,110
)
(16,966
)
16,409
Total non-operating income (expense), net .......................................
(49,923
)
11,007
50,237
Income before income taxes .....................................................................
943,151
701,520
1,078,508
Provision for income taxes .......................................................................
168,471
315,012
206,694
Net income ................................................................................................
$
774,680
$
386,508
$
871,814
Basic net income per share .......................................................................
$
1.49
$
0.74
$
1.62
Shares used to compute basic income per share .......................................
519,045
524,470
539,373
Diluted net income per share ....................................................................
$
1.47
$
0.73
$
1.59
Shares used to compute diluted income per share ....................................
525,824
530,610
548,553
See accompanying Notes to Consolidated Financial Statements.