Adaptec 2002 Annual Report Download - page 78

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Year Ended December 31,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
(in thousands) 2002 2001 2000
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Net revenues
United States $ 120,083 $ 187,723 $ 432,649
Asia − excluding China 39,302 32,501 87,554
Canada 24,822 35,448 83,747
China 18,959 34,746 46,485
Europe and Middle East 11,554 31,825 43,101
Other foreign 3,373 495 1,148
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Total $ 218,093 $ 322,738 $ 694,684
===========================================
Long−lived assets
Canada $ 38,412 $ 65,634 $ 193,143
United States 25,497 37,968 256,850
Other 1,268 2,803 3,690
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Total $ 65,177 $ 106,405 $ 453,683
===========================================
During 2002, the Company had two customers whose purchases represented a significant portion of net
revenues, based on billing, including contract manufacturers and distributors. Net revenues from one
customer represented approximately 15.9% of the Company's net revenues in 2002 but less than 10% of net
revenues in 2001 and 2000. Net revenues from a second customer were 13.4% in 2002, 12.3% in 2001 and 18.6%
of the Company's net revenues for the respective year. Net revenues for a third customer were approximately
12.8% of the Company's net revenues in 2001, but were less than 10% of the Company's net revenues in 2002
and 2000.
NOTE 14. Net Income (Loss) Per Share
The following table sets forth the computation of basic and diluted net income
(loss) per share:
Year ended December 31,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
(in thousands, except per share amounts) 2002 2001 2000
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Numerator:
Net income (loss) $ (65,007) $ (639,054) $ 75,298
================================================
Denominator:
Basic weighted average common shares outstanding (1) 170,107 167,967 162,377
Effect of dilutive securities:
Stock options − − 19,341
Stock warrants − − 173
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Diluted weighted average common shares outstanding 170,107 167,967 181,891
================================================
Basic net income (loss) per share $ (0.38) $ (3.80) $ 0.46
================================================
Diluted net income (loss) per share $ (0.38) $ (3.80) $ 0.41
================================================
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