3Ware 2005 Annual Report Download - page 23

Item 6. Selected Financial Data.
The following table sets forth selected financial data for each of our last five fiscal years ended March 31,
2005. This information includes the results of operations of acquisitions accounted for using the purchase method
of accounting commencing as of their respective acquisition dates (Note 4 to the Consolidated Financial
Statements). You should read this data together with the Consolidated Financial Statements and related Notes, as
well as “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, contained
elsewhere in this report. March 31,
2005 2004 2003 2002 2001
(In thousands, except per share data)
Consolidated Statements of Operations Data:
Net revenues .................................... $ 253,756 $ 131,177 $ 101,591 $ 152,840 $ 435,543
Cost of revenues ................................. 123,253 57,601 61,900 150,924 165,986
Gross profit ..................................... 130,503 73,576 39,691 1,916 269,557
Operating expenses:
Research and development ....................... 118,665 112,594 131,909 154,622 105,178
Selling, general and administrative ................ 59,821 45,121 59,588 75,656 69,172
Stock-based compensation:
Research and development ..................... 3,407 15,444 70,840 71,760 41,350
Selling, general and administrative .............. 5,259 5,195 58,510 66,425 35,667
Amortization of goodwill and purchased intangibles . . . 6,960 1,097 — 239,563 308,835
Purchased intangible asset impairment charges ....... 27,330 — 204,284 — —
Goodwill impairment charges .................... — — 186,389 3,101,817 —
Restructuring charges ........................... 9,622 22,325 7,250 11,577 —
Acquired in-process research and development ....... 13,400 21,800 — — 202,100
Litigation settlement, net ........................ 29,250 — — — —
Total operating expenses .................... 273,714 223,576 718,770 3,721,420 762,302
Operating loss ................................... (143,211) (150,000) (679,079) (3,719,504) (492,745)
Interest income, net .............................. 18,699 35,007 47,719 47,477 55,336
Other income (expense), net ........................ — 8,340 (11,952) (14,592) 113
Loss before income taxes and cumulative effect of
accounting change ............................. (124,512) (106,653) (643,312) (3,686,619) (437,296)
Income tax expense (benefit) ....................... 2,861 (1,776) — (80,929) (1,081)
Loss before cumulative effect of accounting change ..... (127,373) (104,877) (643,312) (3,605,690) (436,215)
Cumulative effect of accounting change .............. — — (102,229) — —
Net loss ........................................ $ (127,373) $ (104,877) $ (745,541) $(3,605,690) $ (436,215)
Basic and diluted net loss per share:
Loss per share before cumulative effect of accounting
change ..................................... $ (0.41) $ (0.34) $ (2.14) $ (12.08) $ (1.63)
Cumulative effect of accounting change ............ — — (0.33) — —
Net loss per share .............................. $ (0.41) $ (0.34) $ (2.47) $ (12.08) $ (1.63)
Shares used in calculating basic and diluted net loss per
share ...................................... 309,456 306,476 301,252 298,502 267,363
Consolidated Selected Balance Sheet Data:
Working capital ................................. $ 396,258 $ 841,467 $1,021,175 $ 1,060,364 $1,208,226
Goodwill and intangible assets, net .................. 534,514 240,193 88,219 590,610 4,008,440
Total assets ..................................... 1,102,395 1,188,103 1,223,588 1,829,193 5,453,278
Long-term debt including current portion ............. 34 303 1,265 2,283 3,530
Total stockholders’ equity ......................... $ 977,198 $1,120,547 $1,172,188 $ 1,771,251 $5,238,101
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