Adobe 2007 Annual Report Download - page 66
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See accompanying Notes to Consolidated Financial Statements.
66
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Years Ended
November 30,
2007
December 1,
2006
December 2,
2005
Revenue:
Products................................................ $ 3,019,524 $ 2,484,710 $ 1,923,278
Services and support...................................... 138,357 90,590 43,043
Total revenue.......................................... 3,157,881 2,575,300 1,966,321
Costs of revenue:
Products................................................ 270,818 226,506 89,942
Services and support...................................... 83,876 65,951 22,636
Total cost of revenue ................................... 354,694 292,457 112,578
Gross profit ............................................... 2,803,187 2,282,843 1,853,743
Operating expenses:
Research and development................................. 613,242 539,684 365,328
Sales and marketing ...................................... 984,388 867,145 593,323
General and administrative................................. 274,982 234,597 166,658
Restructuring and other charges............................. 555 20,251 —
Amortization of purchased intangibles and
incomplete technology .................................... 72,435 69,873 —
Total operating expenses ................................ 1,945,602 1,731,550 1,125,309
Operating income .......................................... 857,585 551,293 728,434
Non-operating income:
Investment gain (loss), net................................. 7,134 61,249 (1,301)
Interest and other income, net .............................. 82,471 67,185 38,643
Total non-operating income.............................. 89,605 128,434 37,342
Income before income taxes.................................. 947,190 679,727 765,776
Provision for income taxes................................... 223,383 173,918 162,937
Net income................................................ $ 723,807 $ 505,809 $ 602,839
Basic net income per share................................... $ 1.24 $ 0.85 $ 1.23
Shares used in computing basic income per share ................ 584,203 593,750 489,921
Diluted net income per share................................. $ 1.21 $ 0.83 $ 1.19
Shares used in computing diluted income per share............... 598,775 612,222 508,070
Cash dividends declared per share............................. — — $ 0.00625