Avid 2009 Annual Report Download - page 51

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46
AVID TECHNOLOGY, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
For the Year Ended December 31,
2009
2008
2007
Net revenues:
Products
$
509,215
$
714,232
$
806,103
Services
119,755
130,669
123,467
Total net revenues
628,970
844,901
929,570
Cost of revenues:
Products
243,362
369,186
390,725
Services
59,754
73,888
68,529
Amortization of intangible assets
2,033
7,526
16,895
Restructuring costs
799
1,876
4,278
Total cost of revenues
305,948
452,476
480,427
Gross profit
323,022
392,425
449,143
Operating expenses:
Research and development
120,989
148,598
150,707
Marketing and selling
173,601
208,735
210,456
General and administrative
61,087
78,591
77,463
Amortization of intangible assets
10,511
12,854
13,726
Impairment of goodwill and intangible assets
—
129,972
—
Restructuring costs, net
26,873
25,412
9,410
Gain on sales of assets
(155
)
(13,287
)
—
Total operating expenses
392,906
590,875
461,762
Operating loss
(69,884
)
(198,450
)
(12,619
)
Interest income
848
3,435
8,256
Interest expense
(906
)
(570
)
(603
)
Other income (expense), net
(65
)
71
(16
)
Loss before income taxes
(70,007
)
(195,514
)
(4,982
)
(Benefit from) provision for income taxes, net
(1,652
)
2,663
2,997
Net loss
$
(68,355
)
$
(198,177
)
$
(7,979
)
Net loss per common share – basic and diluted
$
(1.83
)
$
(5.28
)
$
(0.19
)
Weighted-average common shares outstanding – basic and diluted
37,293
37,556
40,974
The accompanying notes are an integral part of the consolidated financial statements.