Avid 2004 Annual Report Download - page 29

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15
ITEM 6. SELECTED FINANCIAL DATA
The following table sets forth our selected condensed consolidated financial data. The selected consolidated
financial data below should be read in conjunction with "Management's Discussion and Analysis of Financial Condition and
Results of Operations" and the consolidated financial statements and notes thereto included elsewhere in this filing.
CONSOLIDATED STATEMENTS OF OPERATIONS DATA:
In thousands (except per share data)
For the Year Ended December 31,
2004
2003
2002
2001
2000
Net revenues
$589,605
$471,912
$418,719
$434,638
$476,090
Cost of revenues
255,496
209,373
207,236
213,572
234,424
Gross profit
334,109
262,539
211,483
221,066
241,666
Operating expenses:
Research and development
94,940
85,552
82,346
86,140
82,900
Marketing and selling
135,811
109,704
100,761
113,053
119,469
General and administrative
29,780
23,208
19,819
23,313
27,504
Restructuring and other costs, net
–
3,194
2,923
8,268
–
Amortization of intangible assets
3,641
1,316
1,153
31,168
66,872
Impairment of intangible assets
1,187
–
–
–
–
Total operating expenses
265,359
222,974
207,002
261,942
296,745
Operating income (loss)
68,750
39,565
4,481
(40,876)
(55,079)
Other income, net
1,339
1,874
218
5,529
3,730
Income (loss) before income taxes
70,089
41,439
4,699
(35,347)
(51,349)
Provision for (benefit from) income taxes
(1,612)
550
1,700
2,800
5,000
Net income (loss)
$71,701
$40,889
$2,999
($38,147)
($56,349)
Net income (loss) per common share – basic
$2.21
$1.40
$0.11
($1.49)
($2.28)
Net income (loss) per common share – diluted
$2.05
$1.25
$0.11
($1.49)
($2.28)
Weighted average common shares outstanding - basic
32,485
29,192
26,306
25,609
24,683
Weighted average common shares outstanding - diluted
35,003
32,653
26,860
25,609
24,683
CONSOLIDATED BALANCE SHEET DATA:
In thousands
As of December 31,
2004
2003
2002
2001
2000
Cash, cash equivalents and marketable securities
$155,419
$196,309
$89,034
$72,961
$83,206
Working capital
176,384
196,605
94,130
85,490
96,585
Total assets
576,234
348,119
235,803
215,806
266,482
Long-term debt and other liabilities
1,689
607
1,427
13,020
13,449
Total stockholders' equity
424,621
227,105
123,564
104,758
137,850