THQ 2005 Annual Report Download - page 77

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See notes to consolidated financial statements.
54
THQ INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Year Ended
March 31, Transition
Year Ended
December 31,
2005 2004 2003 2002
Net sales ......................................... $756,731 $640,846 $66,800 $ 4 80,529
Costs and expenses:
Cost of sales .................................... 250,055 229,21826,378 185,593
License amortization and royalties ................ 85,926 71,132 5,57640,476
Software development amortization ............... 93,622 105,63212,018 83,698
Productdevelopment............................ 72,959 36,850 8,89934,696
Selling and marketing............................ 115,64692,475 14,294 66,443
Payment to venture partner....................... 9,7749,675 64410,146
General and administrative....................... 54,831 47,006 8,44234,993
Total costs and expenses........................... 682,813591,988 76,251 456,045
Income (loss) from operations .................. 73,918 48,858 (9,451) 24,484
Interestincome................................... 4,337 2,378 8785
,277
Other income (expense). ........................... —4,000 (2, 403) (10,006)
Income (loss) before income taxes and minority
interest...................................... 78,255 55,236 (10,976 ) 19,755
Income taxes..................................... 15,204 19,397 (3,290) 6,761
Income (loss) before minority interest............. 63,051 35,839 (7,686) 12,994
Minority interest.................................. (261) —— —
Net income (loss) ............................... $62,790 $35,83 9 $(7,686) $ 12,994
Net income (loss) per share—basic ................ $1.61 $0.94$(0.20 ) $ 0.33
Net income (loss) per share—diluted .............. $1.56$ 0.92 $(0.20) $ 0.32
Shares used in per share calculation—basic ........... 39,030 38,186 38,319 39,203
Shares used in per share calculation—diluted ......... 40,243 39,004 38,319 41,243