iRobot 2012 Annual Report Download - page 93

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43
iROBOT CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
Fiscal Year Ended
December 29,
2012 December 31,
2011 January 1,
2011
(In thousands, except per share amounts)
Revenue:
Product revenue $ 418,550 $ 426,525 $ 360,394
Contract revenue 17,694 38,975 40,558
Total revenue 436,244 465,500 400,952
Cost of revenue:
Cost of product revenue(1) 239,745 246,905 228,403
Cost of contract revenue(1) 16,783 26,477 27,117
Total cost of revenue 256,528 273,382 255,520
Gross margin 179,716 192,118 145,432
Operating expenses:
Research and development(1) 37,215 36,498 24,809
Selling and marketing(1) 71,631 58,544 50,535
General and administrative(1) 45,698 43,753 36,618
Total operating expenses 154,544 138,795 111,962
Operating income 25,172 53,323 33,470
Other income (expense), net 435 218 504
Income before income taxes 25,607 53,541 33,974
Income tax expense 8,310 13,350 8,460
Net income $ 17,297 $ 40,191 $ 25,514
Net income per share
Basic $ 0.63 $ 1.50 $ 1.00
Diluted $ 0.61 $ 1.44 $ 0.96
Number of shares used in per share calculations
Basic 27,577 26,712 25,394
Diluted 28,301 27,924 26,468
__________________________
(1) Stock-based compensation recorded in fiscal 2012, 2011 and 2010 breaks down by expense classification as follows:
Fiscal Year Ended
December 29,
2012 December 31,
2011 January 1,
2011
(In thousands)
Cost of product revenue $ 1,187 $ 1,197 $ 1,311
Cost of contract revenue 410 478 446
Research and development 1,195 743 725
Selling and marketing 808 724 1,161
General and administrative 7,383 5,642 4,522
See accompanying Notes to Consolidated Financial Statements
Form 10-K