Adaptec 2009 Annual Report Download - page 28

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Quarterly Comparisons
Quarterly Data
(in thousands except for per share data)
Year Ended December 27, 2009 Year Ended December 28, 2008
Fourth(1) Third(2) Second(3) First(4)
Fourth(5)
As adjusted*
Third(6)
As adjusted*
Second(7)
As adjusted*
First(8)
As adjusted*
STATEMENT OF
OPERATIONS
DATA:
Net revenues ..........$139,497 $130,876 $123,194 $102,572 $120,840 $139,356 $139,839 $125,040
Cost of revenues ....... 44,583 44,432 39,413 36,803 41,890 47,373 49,073 43,306
Gross profit ........... 94,914 86,444 83,781 65,769 78,950 91,983 90,766 81,734
Research and
development ........ 38,350 35,823 36,383 38,628 40,649 39,688 39,995 37,310
Selling, general and
administrative ....... 21,088 19,743 22,222 21,889 21,578 23,565 24,180 24,209
Amortization of
purchased intangible
assets .............. 9,836 9,836 9,836 9,836 9,836 9,836 9,836 9,836
Restructuring costs and
other charges ........ 75 175 303 335 39 (259) 157 887
Income (loss) from
operations .......... 25,565 20,867 15,037 (4,919) 6,848 19,153 16,598 9,492
Gain on sale of
investment
securities ........... 171 — — — ————
Gain on repurchase of
senior convertible
notes and amortization
of debt issue costs .... (50) (50) (50) (50) 9,969 (94) (93) 4,786
Loss on subleased
facilities ............ — — — (538) ————
Asset impairment ...... ————(4,300) — — —
Interest income, net ..... (372) (487) (841) (811) (1,379) 181 114 327
Foreign exchange gain
(loss) .............. (2,480) (1,094) (2,867) 4,070 5,103 873 (1,066) 3,158
Recovery on
investments ......... ————— 400— —
Loss on investment
securities ........... —————(11,790) — —
(Provision for) recovery
of income taxes ...... (7,708) 8,583 (3,430) (1,669) (7,428) (4,266) 120,397 (38,686)
Net income (loss) ......$ 15,126 $ 27,819 $ 7,849 $ (3,917) $ 8,813 $ 4,457 $135,950 $ (20,923)
Net income (loss) per
share—basic ........$ 0.07 $ 0.12 $ 0.03 $ (0.02) $ 0.04 $ 0.02 $ 0.62 $ (0.10)
Net income (loss) per
share—diluted .......$ 0.06 $ 0.12 $ 0.03 $ (0.02) $ 0.04 $ 0.02 $ 0.60 $ (0.10)
Shares used in per share
calculation—basic .... 229,070 227,123 224,861 223,844 223,363 222,335 221,008 219,931
Shares used in per share
calculation—diluted . . 233,751 231,863 227,883 223,844 224,029 225,803 224,984 219,931
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