Adobe 2012 Annual Report Download - page 80

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80
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Years Ended
November 30,
2012 December 2,
2011 December 3,
2010
Revenue:
Products .................................................................................................... $ 3,342,843 $ 3,416,483 $ 3,159,161
Subscription.............................................................................................. 673,206 458,634 386,805
Services and support................................................................................. 387,628 341,141 254,034
Total revenue........................................................................................ 4,403,677 4,216,258 3,800,000
Cost of revenue:
Products .................................................................................................... 121,663 125,640 127,453
Subscription.............................................................................................. 219,102 194,033 195,595
Services and support................................................................................. 143,017 118,200 80,454
Total cost of revenue............................................................................ 483,782 437,873 403,502
Gross profit ................................................................................................. 3,919,895 3,778,385 3,396,498
Operating expenses:
Research and development ....................................................................... 742,823 738,053 680,332
Sales and marketing.................................................................................. 1,516,159 1,385,822 1,244,197
General and administrative....................................................................... 434,982 414,605 383,499
Restructuring and other related charges (credits)..................................... (2,917) 97,773 23,266
Amortization of purchased intangibles..................................................... 48,657 42,833 72,130
Total operating expenses...................................................................... 2,739,704 2,679,086 2,403,424
Operating income........................................................................................ 1,180,191 1,099,299 993,074
Non-operating income (expense):
Interest and other income (expense), net.................................................. (3,414)(2,974) 13,139
Interest expense ........................................................................................ (67,487)(66,952)(56,952)
Investment gains (losses), net................................................................... 9,504 5,857 (6,110)
Total non-operating income (expense), net.......................................... (61,397)(64,069)(49,923)
Income before income taxes ....................................................................... 1,118,794 1,035,230 943,151
Provision for income taxes.......................................................................... 286,019 202,383 168,471
Net income.................................................................................................. $ 832,775 $ 832,847 $ 774,680
Basic net income per share.......................................................................... $ 1.68 $ 1.67 $ 1.49
Shares used to compute basic net income per share ................................... 494,731 497,469 519,045
Diluted net income per share ...................................................................... $ 1.66 $ 1.65 $ 1.47
Shares used to compute diluted net income per share................................. 502,721 503,921 525,824
See accompanying Notes to Consolidated Financial Statements.
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