3Ware 2003 Annual Report Download - page 59

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APPLIED MICRO CIRCUITS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Fiscal Years Ended March 31,
2001 2002 2003
Net revenues ................................................ $435,543 $ 152,840 $ 101,591
Cost of revenues (1) .......................................... 165,986 150,924 61,900
Gross profit ................................................. 269,557 1,916 39,691
Operating expenses:
Research and development ................................. 105,178 154,622 131,909
Selling, general and administrative ........................... 69,172 75,656 59,588
Stock-based compensation:
Research and development ............................... 41,350 71,760 70,840
Selling, general and administrative ......................... 35,667 66,425 58,510
Amortization of goodwill and purchased intangibles ............. 308,835 239,563 —
Purchased intangible asset impairment charges ................. — — 204,284
Goodwill impairment charges ............................... — 3,101,817 186,389
Restructuring charges ..................................... — 11,577 7,250
Acquired in-process research and development ................. 202,100 — —
Total operating expenses ............................... 762,302 3,721,420 718,770
Operating loss ............................................... (492,745) (3,719,504) (679,079)
Other income (expense), net .................................... 113 (14,592) (11,952)
Interest income, net ........................................... 55,336 47,477 47,719
Loss before income taxes and cumulative effect of accounting change . . . (437,296) (3,686,619) (643,312)
Income tax expense (benefit) ................................... (1,081) (80,929) —
Loss before cumulative effect of accounting change ................. (436,215) (3,605,690) (643,312)
Cumulative effect of accounting change ........................... — — (102,229)
Net loss .................................................... $(436,215) $(3,605,690) $(745,541)
Net loss per share:
Basic and diluted net loss per share before cumulative effect of
accounting change ...................................... $ (1.63) $ (12.08) $ (2.14)
Cumulative effect of accounting change ....................... — — (0.33)
Basic and diluted net loss per share .......................... $ (1.63) $ (12.08) $ (2.47)
Shares used in calculating basic and diluted loss per share ........ 267,363 298,502 301,252
(1) Cost of revenues includes the following (in thousands):
Stock-based compensation ................................. $ 2,831 $ 8,880 $ 2,536
Amortization of developed technology ........................ 25,280 58,339 6,287
Amortization of purchased inventory fair value adjustment ........ 26,907 — —
$ 55,018 $ 67,219 $ 8,823
See accompanying notes.
F-4