Adaptec 2011 Annual Report Download - page 25

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Table of Contents
ITEM 6. SELECTED FINANCIAL DATA
The following tables set forth data from our consolidated financial statements for each of the last five fiscal years.
Year Ended
(in thousands, except for per share data)
December 31,
2011(1)
December 26,
2010(2)
December 27,
2009(3)
December 28,
2008(4)
December 30,
2007(5)
STATEMENT OF OPERATIONS DATA:
Net revenues $ 654,304 $ 635,082 $ 496,139 $ 525,075 $ 449,381
Cost of revenues 211,630 204,518 165,231 181,642 158,297
Gross profit 442,674 430,564 330,908 343,433 291,084
Research and development 227,106 187,467 149,184 157,642 159,134
Selling, general and administrative 118,601 104,117 84,942 93,532 100,486
Amortization of purchased intangible assets 44,182 29,932 39,344 39,344 39,343
Restructuring costs and other charges — 403 888 824 14,837
Income (loss) from operations 52,785 108,645 56,550 52,091 (22,716)
Revaluation of liability for contingent consideration 29,376 — — — —
Gain (loss) on sale of investment securities and other 845 3,978 (367) (15,690) —
Amortization of debt issue costs and gain on extinguishment of debt (200) (200) (200) 14,568 (680)
Foreign exchange gain (loss) 344 (2,360) (2,371) 8,068 (18,486)
Interest (expense) income, net (2,267) (1,248) (2,511) (757) 1,497
Gain on disposition of investment in Wintegra, Inc. — 4,509 — — —
Recovery of (provision for) income taxes 3,816 (30,162) (4,224) 70,017 (16,848)
Net income (loss) $ 84,699 $ 83,162 $ 46,877 $ 128,297 $ (57,233)
Net income (loss) per share—basic $ 0.36 $ 0.36 $ 0.21 $ 0.58 $ (0.26)
Net income (loss) per share—diluted $ 0.36 $ 0.35 $ 0.20 $ 0.57 $ (0.26)
Shares used in per share calculation—basic 233,210 231,427 226,225 221,659 216,330
Shares used in per share calculation—diluted 235,184 234,787 229,567 223,687 216,330
As at
December 31,
2011(1)
December 26,
2010(2)
December 27,
2009(3)
December 28,
2008(4)
December 30,
2007(5)
(in thousands)
BALANCE SHEET DATA:
Working capital $ 213,780 $ 154,264 $ 229,547 $ 284,316 $ 280,575
Cash and cash equivalents 182,571 293,355 192,841 97,839 364,922
Short-term investments 104,391 54,801 67,928 209,685 —
Long-term investment securities 226,619 235,369 192,636 — —
Total assets 1,399,439 1,526,546 1,115,477 969,965 1,130,535
Short-term loan — 180,991 — — —
Convertible notes 65,122 61,605 58,356 55,357 173,130
Liability for contingent consideration — 28,194 — — —
Long-term obligations 1,284 8,940 6,211 503 958
Stockholders' equity 1,104,473 1,019,071 880,523 779,258 646,403
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