Blizzard 2005 Annual Report Download - page 27

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SELECTED CONSOLIDATED STATEMENTS OF OPERATIONS DATA
The฀following฀table฀sets฀forth฀certain฀consolidated฀statements฀of฀operations฀data฀for฀the฀periods฀indicated฀as฀a฀percentage฀of฀consolidated฀net฀revenues฀and฀also฀breaks฀
down฀net฀revenues฀by฀territory฀and฀platform,฀as฀well฀as฀operating฀income฀by฀business฀segment:
(In thousands)
Year ended March 31, 2005 2004 2003
Net฀revenues $ 1,405,857 100% $ 947,656 100% $ 864,116 100%
Costs฀and฀expenses:
฀ ฀Cost฀of฀sales—product฀costs 658,949 47 475,541 50 440,977 51
฀ ฀Cost฀of฀sales—software฀royalties฀and฀amortization 123,800 9 59,744 6 79,194 9
฀ ฀Cost฀of฀sales—intellectual฀property฀licenses 62,197 5 31,862 3 45,002 5
฀ ฀Product฀development 86,543 6 97,859 10 56,971 7
฀ ฀Sales฀and฀marketing 230,058 16 128,221 14 100,646 12
฀ ฀General฀and฀administrative 59,739 4 44,612 5 46,479 5
฀ ฀ ฀ ฀Total฀costs฀and฀expenses 1,221,286 87 837,839 88 769,269 89
Income฀from฀operations 184,571 13 109,817 12 94,847 11
Investment฀income,฀net 13,092 1 6,175 — 8,560 1
฀ ฀Income฀before฀income฀tax฀provision 197,663 14 115,992 12 103,407 12
Income฀tax฀provision฀ 59,328 4 38,277 4 37,227 4
Net฀income฀ $ 138,335 10% $ 77,715 8% $ 66,180 8%
NE T R E V E N U E S B Y TE R R I T O R Y:
฀ ฀North฀America $ 696,325 50% $ 446,812 47% $ 432,261 50%
฀ ฀Europe 675,074 48 479,224 51 413,125 48
฀ ฀Other 34,458 2 21,620 2 18,730 2
฀ ฀ ฀ ฀Total฀net฀revenues $ 1,405,857 100% $ 947,656 100% $ 864,116 100%
NE T R E V E N U E S B Y SE G M E N T / PL A T F O R M MI X :
฀ ฀Publishing:
฀ ฀ ฀Console $ 713,947 51% $ 508,418 54% $ 466,116 54%
฀ ฀ ฀Hand-held 138,695 10 24,945 2 49,966 6
฀ ฀ ฀PC 220,087 15 132,369 14 99,893 11
฀ ฀ ฀ ฀Total฀publishing฀net฀revenues 1,072,729 76 665,732 70 615,975 71
฀ ฀Distribution:
฀ ฀ ฀Console $ 256,452 18% $ 223,802 24% $ 208,505 24%
฀ ฀ ฀Hand-held 23,282 2 18,361 2 14,103 2
฀ ฀ ฀PC 53,394 4 39,761 4 25,533 3
฀ ฀ ฀ ฀Total฀distribution฀net฀revenues 333,128 24 281,924 30 248,141 29
฀ ฀ ฀ ฀Total฀net฀revenues $ 1,405,857 100% $ 947,656 100% $ 864,116 100%
OP E R A T I N G IN C O M E B Y SE G M E N T :
฀ ฀Publishing $ 160,826 11% $ 93,223 10% $ 79,139 9%
฀ ฀Distribution 23,745 2 16,594 2 15,708 2
฀ ฀ ฀ ฀Total฀operating฀income $ 184,571 13% $ 109,817 12% $ 94,847 11% page 25
Activision, Inc. — 2005 Annual Report