Adobe 1999 Annual Report Download - page 80

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ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In thousands, except share and per share data)
(Continued)
79
NOTE 16. INDUSTRY SEGMENT AND GEOGRAPHIC INFORMATION (Continued)
The following results are broken out by operating segments for the fiscal years 1999, 1998, and 1997:
OEM
Web Print ePaper PostScript
Publishing Publishing Solutions and Other Total
Fiscal 1999
Revenue ......................... $394,073 $353,863 $129,333 $138,165 $1,015,434
Direct costs ....................... 33,505 33,792 14,533 12,710 94,540
Gross profit ....................... 360,568 320,071 114,800 125,455 920,894
Direct operating expenses* ............ 53,913 47,811 20,521 50,198 172,443
Contribution margin ................. $306,655 $272,260 $ 94,279 $ 75,257 $ 748,451
78% 77% 73% 54% 74%
Fiscal 1998
Revenue ......................... $354,245 $272,200 $ 57,954 $210,392 $ 894,791
Direct costs ....................... 42,110 23,431 6,524 28,969 101,034
Gross profit ....................... 312,135 248,769 51,430 181,423 793,757
Direct operating expenses* ............ 40,243 46,226 19,660 69,902 176,031
Contribution margin ................. $271,892 $202,543 $ 31,770 $111,521 $ 617,726
77% 74% 55% 53% 69%
Fiscal 1997
Revenue ......................... $311,912 $320,982 $ 47,160 $231,840 $ 911,894
Direct costs ....................... 51,401 29,477 5,373 29,937 116,188
Gross profit ....................... 260,511 291,505 41,787 201,903 795,706
Direct operating expenses* ............ 30,599 48,078 16,114 78,880 173,671
Contribution margin ................. $229,912 $243,427 $ 25,673 $123,023 $ 622,035
74% 76% 54% 53% 68%
* Direct operating expenses include research and development and product marketing.