Avid 2014 Annual Report Download - page 47
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41
Operating Expenses and Operating Income
Operating Expenses and Operating Income for the Years Ended December 31, 2014 and 2013
(dollars in thousands)
2014 Change 2013
Expenses $ % Expenses
Research and development expenses $ 90,390 $ (4,859) (5.1)% $ 95,249
Marketing and selling expenses 133,049 (841) (0.6)% 133,890
General and administrative expenses 81,181 3,603 4.6% 77,578
Amortization of intangible assets 1,626 (1,022) (38.6)% 2,648
Restructuring (recoveries) costs, net (165)(5,535) (103.1)% 5,370
Total operating expenses $ 306,081 $ (8,654) (2.7)% $ 314,735
Operating income $ 19,699 $ (5,069) (20.5)% $ 24,768
Operating Expenses and Operating Income for the Years Ended December 31, 2013 and 2012
(dollars in thousands)
2013 Change 2012
Expenses $ % Expenses
Research and development expenses $ 95,249 $ (3,630) (3.7)% $ 98,879
Marketing and selling expenses 133,890 (19,591) (12.8)% 153,481
General and administrative expenses 77,578 25,512 49.0% 52,066
Amortization of intangible assets 2,648 (1,606) (37.8)% 4,254
Restructuring costs, net 5,370 (19,468) (78.4)% 24,838
Total operating expenses $ 314,735 $ (18,783) (5.6)% $ 333,518
Operating income $ 24,768 $ (28,409) (53.4)% $ 53,177
Research and Development Expenses
Research and development, or R&D, expenses include costs associated with the development of new products and the
enhancement of existing products, and consist primarily of employee salaries and benefits; facilities costs; depreciation; costs for
consulting and temporary employees; and prototype and other development expenses. R&D expenses decreased $4.9 million, or
5.1%, during the year ended December 31, 2014, compared to 2013, primarily due to decreased salary expenses on lower
employee headcount.