3Ware 2005 Annual Report Download - page 84

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APPLIED MICRO CIRCUITS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following is a further breakdown of the options outstanding at March 31, 2005 (options in thousands):
Range of Exercise Prices
Options
Outstanding
Weighted
Average
Remaining
Contractual
Life
Weighted
Average
Exercise Price
Options
Exercisable
Weighted
Average
Exercise Price
$ 0.05–$ 3.59 11,325 8.23 $ 2.45 3,404 $ 1.90
$ 3.60–$ 4.88 12,290 8.02 $ 3.97 5,563 $ 4.17
$ 4.89–$ 6.48 13,564 7.51 $ 5.70 7,221 $ 5.83
$ 6.49–$ 6.54 20,569 5.37 $ 6.54 20,421 $ 6.54
$ 6.55–$23.75 8,149 5.15 $15.61 7,831 $15.90
$23.76–$87.24 817 5.07 $33.66 815 $33.66
$ 0.05–$87.24 66,714 6.75 $ 6.64 45,255 $ 7.89
Employee Stock Purchase Plans
The Company has in effect an employee stock purchase plan under which 14.4 million shares of common
stock have been reserved for issuance. Under the terms of this plan, purchases are made semiannually and the
purchase price of the common stock is equal to 85% of the fair market value of the common stock on the first or
last day of the offering period, whichever is lower. At March 31, 2005 approximately 11.1 million shares had
been issued under this plan and approximately 3.3 million shares were available for future issuance.
Common Shares Reserved for Future Issuance
At March 31, 2005, the Company has the following shares of common stock reserved for issuance upon the
exercise of equity instruments (in thousands):
Stock Options:
Granted and outstanding ................................................... 66,714
Authorized for future grants ................................................ 45,824
Stock purchase plans ......................................................... 3,301
115,839
6. Income Taxes
Income tax expense (benefit) consists of the following (in thousands):
Fiscal Years Ended March 31,
2005 2004 2003
Current:
Federal ....................................................... $ — $(2,395) $ —
Foreign ....................................................... 3,023 490 194
State ......................................................... (162) 129 293
Total current ............................................... 2,861 (1,776) 487
Deferred:
Federal ....................................................... — — (425)
State ......................................................... — — (62)
Total deferred .............................................. — — (487)
$2,861 $(1,776) $ —
F-22