Cisco 2002 Annual Report Download - page 27

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Consolidated Statements of Operations
(In millions, except per-share amounts)
Cisco Systems, Inc. 2002 Annual Report 25
Years Ended July 27, 2002 July 28, 2001 July 29, 2000
NET SALES:
Product $15,669 $ 19,559 $17,002
Service 3,246 2,734 1,926
Total net sales 18,915 22,293 18,928
COST OF SALES:
Product 5,914 10,198 5,970
Service 988 1,023 776
Total cost of sales 6,902 11,221 6,746
GROSS MARGIN 12,013 11,072 12,182
OPERATING EXPENSES:
Research and development 3,448 3,922 2,704
Sales and marketing 4,264 5,296 3,946
General and administrative 618 778 633
Restructuring costs and other special charges –1,170 –
Amortization of goodwill –690 154
Amortization of purchased intangible assets 699 365 137
In-process research and development 65 855 1,373
Total operating expenses 9,094 13,076 8,947
OPERATING INCOME (LOSS) 2,919 (2,004) 3,235
Interest and other income (loss), net (209) 1,130 1,108
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES 2,710 (874) 4,343
Provision for income taxes 817 140 1,675
NET INCOME (LOSS) $ 1,893 $ (1,014) $ 2,668
Net income (loss) per share—basic $ 0.26 $ (0.14) $ 0.39
Net income (loss) per share—diluted $ 0.25 $ (0.14) $ 0.36
Shares used in per-share calculation—basic 7,301 7,196 6,917
Shares used in per-share calculation—diluted 7,447 7,196 7,438
See Notes to Consolidated Financial Statements.