3Ware 2004 Annual Report Download - page 74

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APPLIED MICRO CIRCUITS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Fiscal Years Ended March 31,
2004 2003 2002
Net revenues ................................................ $131,177 $ 101,591 $ 152,840
Cost of revenues (1) .......................................... 57,601 61,900 150,924
Gross profit ................................................. 73,576 39,691 1,916
Operating expenses:
Research and development ................................. 112,594 131,909 154,622
Selling, general and administrative ........................... 45,121 59,588 75,656
Stock-based compensation:
Research and development ............................... 15,444 70,840 71,760
Selling, general and administrative ......................... 5,195 58,510 66,425
Acquired in-process research and development ................. 21,800 — —
Purchased intangible asset impairment charges ................. — 204,284 —
Goodwill impairment charges ............................... — 186,389 3,101,817
Amortization of goodwill and purchased intangibles ............. 1,097 — 239,563
Restructuring charges ..................................... 22,325 7,250 11,577
Total operating expenses ............................... 223,576 718,770 3,721,420
Operating loss ............................................... (150,000) (679,079) (3,719,504)
Interest income, net ........................................... 35,007 47,719 47,477
Other income (expense), net .................................... 8,340 (11,952) (14,592)
Loss before income taxes and cumulative effect of accounting change . . . (106,653) (643,312) (3,686,619)
Income tax expense (benefit) ................................... (1,776) — (80,929)
Loss before cumulative effect of accounting change ................. (104,877) (643,312) (3,605,690)
Cumulative effect of accounting change ........................... — (102,229) —
Net loss .................................................... $(104,877) $(745,541) $(3,605,690)
Basic and diluted net loss per share:
Loss per share before cumulative effect of accounting change ..... $ (0.34) $ (2.14) $ (12.08)
Cumulative effect of accounting change ....................... — (0.33) —
Net loss per share ........................................ $ (0.34) $ (2.47) $ (12.08)
Shares used in calculating basic and diluted net loss per share ..... 306,476 301,252 298,502
(1) Cost of revenues includes the following (in thousands):
Stock-based compensation ................................. $ 564 $ 2,536 $ 8,880
Amortization of developed technology ........................ 8,971 6,287 58,339
Amortization of purchased inventory fair value adjustment ........ 1,379 — —
$10,914 $ 8,823 $ 67,219
See Accompanying Notes to Consolidated Financial Statements.
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