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72
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Years Ended
November 29,
2002
November 30,
2001
December 1,
2000
Revenue:
Products ....................................................................................... $ 1,153,16
9
$ 1,229,720 $ 1,266,37
8
Services and support .................................................................... 11,619
—
—
Total revenue ........................................................................... 1,164,788 1,229,720 1,266,378
Cost of revenue:
Products ....................................................................................... 96,853 81,451 87,255
Services and support .................................................................... 7,435
—
—
Total cost of revenue ............................................................... 104,288 81,451 87,255
Gross profit...................................................................................... 1,060,500 1,148,269 1,179,123
Operating expenses:
Research and development........................................................... 246,082 224,122 240,212
Sales and marketing ..................................................................... 380,367 403,720 401,188
General and administrative........................................................... 108,134 115,626 116,528
Restructuring and other charges................................................... 12,148 12,063 5,629
Acquired in-process research and development ........................... 5,769
—
470
Amortization and impairment of goodwill and purchased
intangibles................................................................................. 20,973 14,281 7,013
Total operating expenses ................................................................. 773,473 769,812 771,040
Operating income ............................................................................ 287,027 378,457 408,083
Nonoperating income (loss), net:
Investment gain (loss), net ........................................................... (17,185) (93,414) 14,345
Interest and other income ............................................................. 14,847 21,888 21,311
Total nonoperating income (loss), net ............................................. (2,338) (71,526) 35,656
Income before income taxes ............................................................ 284,689 306,931 443,739
Income tax provision ....................................................................... 93,290 101,287 155,931
Net income....................................................................................... $ 191,39
9
$ 205,644 $ 287,80
8
Basic net income per share .............................................................. $ 0.81 $ 0.86 $ 1.21
Shares used in computing basic net income per share..................... 236,834 238,461 238,292
Diluted net income per share ........................................................... $ 0.7
9
$ 0.83 $ 1.13
Shares used in computing diluted net income per share .................. 243,119 249,145 255,774
See accompanying Notes to Consolidated Financial Statements.