Activision 2008 Annual Report Download - page 50
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36
ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in millions, except per share data)
For the years ended
December 31,
2008 2007 2006
(As Adjusted)
Net revenues
Product sales..................................................................................................... $1,872 $457 $421
Subscription, licensing, and other revenues ..................................................... 1,154 892 597
Total net revenues.............................................................................................. 3,026 1,349 1,018
Costs and expenses
Cost of sales—product costs ............................................................................ 1,160 171 153
Cost of sales—software royalties and amortization ......................................... 267 52 71
Cost of sales—intellectual property licenses.................................................... 219 9 24
Cost of sales—MMORPG................................................................................ 193 204 119
Product development........................................................................................ 592 397 246
Sales and marketing ......................................................................................... 464 172 147
Restructuring costs........................................................................................... 93 (1) 4
General and administrative............................................................................... 271 166 133
Total costs and expenses .............................................................................. 3,259 1,170 897
Operating income (loss) ....................................................................................... (233) 179 121
Investment income (loss), net............................................................................... 46 (4) (15)
Income (loss) before income tax benefit.............................................................. (187) 175 106
Income tax benefit................................................................................................ (80) (52) (33)
Net income (loss) ................................................................................................. $(107) $227 $139
Net income (loss) per share
Basic and diluted.............................................................................................. $(0.11) $0.38 $0.24
Weighted average number of shares outstanding
Basic and diluted.............................................................................................. 946 591 591
The accompanying notes are an integral part of these Consolidated Financial Statements.