National Oilwell Varco 2000 Annual Report Download - page 23

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21
NATIONAL-OILWELL, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended December 31,
2000 1999 1998
Revenues 1,149,920$ 839,648$ 1,449,248$
Cost of revenues:
Cost of products and services sold 884,774 686,510 1,116,967
Merger related inventory write-offs 15,684 - -
Gross profit 249,462 153,138 332,281
Selling, general, and administrative 186,924 150,034 175,443
Special charge 14,082 1,779 17,023
Operating income 48,456 1,325 139,815
Interest and financial costs (19,069) (15,872) (14,261)
Interest income 2,908 2,276 3,238
Other income (expense), net (5,258) (2,588) (3,771)
Income (loss) before income taxes 27,037 (14,859) 125,021
Provision/(benefit) for income taxes 13,901 (5,474) 43,685
Net income (loss) 13,136$ (9,385)$ 81,336$
Net income (loss) per share:
Basic 0.17$ (0.13)$ 1.19$
Diluted 0.16$ (0.13)$ 1.19$
Weighted average shares outstanding:
Basic 79,325 71,672 68,178
Diluted 80,760 71,672 68,363
The accompanying notes are an integral part of these statements.