Adobe 2000 Annual Report Download - page 50

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23
22
Consolidated Statements of Income (In thousands, except per share data)
DECEMBER 1 DECEMBER 3 NOVEMBER 27
YEARS ENDED 2000 1999 1998
Revenue $ 1,266,378 $ 1,015,434 $ 894,791
Direct costs 87,255 94,540 101,034
Gross profi t 1,179,123 920,894 793,757
Operating expenses:
Research and development 240,212 197,476 188,261
Sales and marketing 401,188 328,505 315,544
General and administrative 116,528 103,622 118,615
Restructuring and other charges 5,629 23,028 38,245
Amortization of goodwill and purchased intangibles 7,013 4,830 7,745
Acquired in-process research and development 470 3,580 —
Total operating expenses 771,040 661,041 668,410
Operating income 408,083 259,853 125,347
Nonoperating income, net:
Investment gain, net 14,345 88,891 14,994
Interest and other income 21,311 25,683 27,353
Total nonoperating income, net 35,656 114,574 42,347
Income before income taxes 443,739 374,427 167,694
Income tax provision 155,931 136,676 62,550
Net income $ 287,808 $ 237,751 $ 105,144
Basic net income per share $ 1.21 $ 0.98 $ 0.40
Shares used in computing basic net income per share 238,292 241,572 265,732
Diluted net income per share $ 1.13 $ 0.92 $ 0.39
Shares used in computing diluted net income per share 255,774 258,410 271,896
See accompanying Notes to Consolidated Financial Statements.