Plantronics 2000 Annual Report Download - page 23

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CO N SO LIDATED statements of operations
FISCAL YEAR ENDED M ARCH 3 1 ,
(IN TH OUSANDS, EXCEPT EARNINGS PER SHARE) 1 9 9 8 1 9 9 9 2 0 0 0
Net sales $236,112 $286,261 $315,012
Cost of sales 108,514 125,698 129,513
Gross profit 127,598 160,563 185,499
Operating expenses:
Research, development and engineering 17,543 19,521 21,868
Selling, general and administrative 47,682 57,528 70,326
Total operating expenses 65,225 77,049 92,194
Operating income 62,373 83,514 93,305
Interest expense, including amortization
of debt issuance costs 6,984 5,785 86
Interest income and other income, net (2,243) (3,525) (1,659)
Income before income taxes 57,632 81,254 94,878
Income tax expense 18,443 26,001 30,361
Income before extraordinary item 39,189 55,253 64,517
Extraordinary item—retirement of debt,
net of taxes (note 4) —1,049 —
Net income $ 39,189 $ 54,204 $ 64,517
Net income per share: basic
Income before extraordinary item $ 2.38 $ 3.33 $ 3.91
Extraordinary item —0.06 —
Basic earnings per common share $ 2.38 $ 3.27 $ 3.91
Shares used in basic per share calculations 16,481 16,574 16,505
Net income per share: diluted
Income before extraordinary item $ 2.15 $ 3.02 $ 3.65
Extraordinary item —0.06 —
Diluted earnings per common share $ 2.15 $ 2.96 $ 3.65
Shares used in diluted per share calculations 18,223 18,282 17,673
THE ACCOMPANYING NOTES ARE AN IN TEGRAL PART OF THESE CONSOLIDATED FINANCIAL STATEMENTS.
PLANTRONICS ANN UAL REPORT 2 0 0 0 page 21