3Ware 2000 Annual Report Download - page 14
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12 2000
AMCC
SELECTED CONSOLIDATED FINANCIAL DATA
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
March 31,
(in thousands, except per share data) 1996 1997 1998 1999 2000
Net revenues $50,264 $57,468 $76,618 $105,000 $172,352
Increase in revenues over prior year 7% 14% 33% 37% 64%
Cost of revenues 34,169 30,057 34,321 37,937 50,218
Gross profit 16,095 27,411 42,297 67,063 122,134
% of revenues 32% 48% 55% 64% 71%
Research and development 8,283 7,870 13,268 22,472 32,815
% of revenues 16% 14% 17% 21% 19%
Selling, general and administrative 11,232 12,537 14,278 18,325 28,199
% of revenues 22% 22% 19% 17% 16%
Merger-related costs — — — 2,350 —
% of revenues — — — 2% —
Total operating expenses 19,515 20,407 27,546 43,147 61,014
% of revenues 39% 36% 36% 41% 35%
Operating income (loss) (3,420) 7,004 14,751 23,916 61,120
% of revenues (7%) 12% 19% 23% 35%
Interest income (expense), net (242) (29) 871 3,450 12,872
Income (loss) before income taxes (3,662) 6,975 15,622 27,366 73,992
% of revenues (7%) 12% 20% 26% 43%
Provision for income taxes 32 659 406 10,233 25,367
Effective income tax rate 0% 10% 3% 37% 34%
Net income (loss) $ (3,694) $ 6,316 $15,216 $ 17,133 $ 48,625
Increase in net income over prior year NM NM 141% 13% 184%
% of revenues (7%) 11% 20% 16% 28%
Diluted earnings (loss) per share $ (0.05) $ 0.09 $ 0.19 $ 0.16 $ 0.41
Shares used in calculating diluted earnings (loss)
per share 69,576 71,628 81,176 109,720 119,152
NM=Not Meaningful