Avid 2015 Annual Report Download - page 51
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45
recognition of the deferred costs did not change as a result of our restatement, and our gross margin percentages will be negatively
impacted as these revenues decline.
Operating Expenses and Operating Income
Operating Expenses and Operating Income for the Years Ended December 31, 2015 and 2014
(dollars in thousands)
2015 Change 2014
Expenses $ % Expenses
Research and development expenses $ 95,898 $ 5,508 6.1% $ 90,390
Marketing and selling expenses 122,511 (10,538) (7.9)% 133,049
General and administrative expenses 74,109 (7,072) (8.7)% 81,181
Amortization of intangible assets 2,354 728 44.8% 1,626
Restructuring (recoveries) costs, net 6,305 6,470 (3,921.2)% (165)
Total operating expenses $ 301,177 $ (4,904) (1.6)% $ 306,081
Operating income $ 6,973 $ (12,726) (64.6)% $ 19,699
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 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
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 increased $5.5 million, or
6.1%, during the year ended December 31, 2015, compared to 2014. The table below provides further details regarding the
changes in components of R&D expense.