Adaptec 2003 Annual Report Download - page 54

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PMC−Sierra, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except for per share amounts)
Year Ended December 31,
2003 2002 2001
Net revenues 249,483 218,093 322,738
Cost of revenues 87,875 89,542 137,262
Gross profit 161,608 128,551 185,476
Other costs and expenses:
Research and development 119,473 137,734 201,087
Marketing, general and administrative 45,974 63,419 90,302
Amortization of deferred stock compensation:
Research and development 317 2,645 32,506
Marketing, general and administrative 691 168 8,678
Impairment of property and equipment — 1,824 —
Restructuring costs and other special charges 15,314 — 195,186
Impairment of goodwill and purchased intangible assets — — 269,827
Amortization of goodwill — — 44,010
Loss from operations (20,161) (77,239) (656,120)
Interest and other income, net 202 4,953 13,894
Gain on extinguishment of debt 1,700 — —
Gain (loss) on investments 2,416 (11,579) (14,591)
Loss before recovery of income taxes (15,843) (83,865) (656,817)
Recovery of income taxes (7,852) (18,858) (17,763)
Net loss $ (7,991) $ (65,007) $ (639,054)
Net loss per common share − basic $ (0.05) $ (0.38) $ (3.80)
Net loss per common share − diluted $ (0.05) $ (0.38) $ (3.80)
Shares used in per share calculation − basic 173,568 170,107 167,967
Shares used in per share calculation − diluted 173,568 170,107 167,967
See notes to the consolidated financial statements.
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