3Ware 2002 Annual Report Download - page 57

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APPLIED MICRO CIRCUITS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Fiscal Years Ended March 31,
2000 2001 2002
Net revenues ................................................. $172,352 $ 435,543 $ 152,840
Cost of revenues(1)(2) ......................................... 50,218 163,166 142,055
Gross profit .................................................. 122,134 272,377 10,785
Operating expenses:
Research and development(1) ............................... 32,527 105,225 154,625
Selling, general and administrative(1) ......................... 28,035 69,232 75,656
Stock-based compensation(1) ................................ 452 79,730 147,051
Amortization of goodwill and purchased intangibles .............. — 308,835 239,563
Goodwill impairment charge ................................ — — 3,101,817
Restructuring costs ........................................ — — 11,577
Acquired in-process research and development .................. — 202,100 —
Total operating expenses ............................... 61,014 765,122 3,730,289
Operating income (loss) ........................................ 61,120 (492,745) (3,719,504)
Other income (expense), net ..................................... 1 113 (14,592)
Interest income, net ........................................... 12,871 55,336 47,477
Income (loss) before income taxes ................................ 73,992 (437,296) (3,686,619)
Income tax expense (benefit) .................................... 25,367 (1,081) (80,929)
Net income (loss) ............................................. $ 48,625 $(436,215) $(3,605,690)
Basic earnings (loss) per share:
Earnings (loss) per share ................................... $ 0.23 $ (1.63) $ (12.08)
Shares used in calculating basic earnings (loss) per share .......... 215,640 267,363 298,502
Diluted earnings (loss) per share:
Earnings (loss) per share ................................... $ 0.20 $ (1.63) $ (12.08)
Shares used in calculating diluted earnings (loss) per share ........ 238,304 267,363 298,502
(1) Stock-based compensation expense related to acquired companies is excluded from the following (in
thousands):
Cost of revenues .......................................... $ — $ 2,820 $ 8,869
Research and development .................................. 288 41,303 71,757
Selling, general and administrative ........................... 164 35,607 66,425
$ 452 $ 79,730 $ 147,051
(2) Cost of revenues includes the following acquisition-related charges (in thousands):
Amortization of developed technology ........................ $ — $ 25,280 $ 58,339
Amortization of purchased inventory fair value adjustment ........ — 26,907 —
$ — $ 52,187 $ 58,339
See accompanying notes.
F-4