Adaptec 2009 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 27,
2009
December 28, 2008
As adjusted-Note 1
December 30, 2007
As adjusted-Note 1
Net revenues ....................................... $496,139 $525,075 $449,381
Cost of revenues .................................... 165,231 181,642 158,297
Gross profit .................................... 330,908 343,433 291,084
Other costs and expenses:
Research and development ........................ 149,184 157,642 159,134
Selling, general and administrative ................. 84,942 93,532 100,486
Amortization of purchased intangible assets .......... 39,344 39,344 39,343
Restructuring costs and other charges ............... 888 824 14,837
Income (loss) from operations ......................... 56,550 52,091 (22,716)
Other income (expense):
Gain on repurchase of senior convertible notes, net and
amortization of debt issue costs .................. (200) 14,568 (680)
Foreign exchange (loss) gain ...................... (2,371) 8,068 (18,486)
Loss on subleased facilities ....................... (538) — —
Asset impairment ............................... — (4,300) —
Interest (expense) income, net ..................... (2,511) (757) 1,497
Recovery on investments ......................... — 400 —
Gain (loss) on investment securities ................. 171 (11,790) —
Income before (provision for) recovery of income taxes ..... 51,101 58,280 (40,385)
(Provision for) recovery of income taxes ................. (4,224) 70,017 (16,848)
Net income (loss) ................................... $ 46,877 $128,297 $ (57,233)
Net income (loss) per common share—basic .............. $ 0.21 $ 0.58 $ (0.26)
Net income (loss) per common share—diluted ............ $ 0.20 $ 0.57 $ (0.26)
Shares used in per share calculation—basic ............... 226,225 221,659 216,330
Shares used in per share calculation—diluted ............. 229,567 223,687 216,330
See notes to the consolidated financial statements.
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