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18
ITEM 6. SELECTED FINANCIAL DATA
The following table sets forth our selected condensed consolidated financial data. The selected condensed 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. See
Note G to our Consolidated Financial Statements in Item 8 for information regarding our acquisitions and divestitures that
affect the comparability of the selected condensed consolidated financial data presented.
CONSOLIDATED STATEMENTS OF OPERATIONS DATA:
(in thousands except per share data)
For the Year Ended December 31,
2009
2008
2007
2006
2005
Net revenues
$
628,970
$
844,901
$
929,570
$
910,578
$
775,443
Cost of revenues
305,948
452,476
480,427
465,894
364,687
Gross profit
323,022
392,425
449,143
444,684
410,756
Operating expenses:
Research and development
120,989
148,598
150,707
141,363
111,334
Marketing and selling
173,601
208,735
210,456
203,967
170,787
General and administrative
61,087
78,591
77,463
63,250
47,147
Amortization of intangible assets
10,511
12,854
13,726
14,460
9,194
Impairment of goodwill and intangible assets
—
129,972
—
53,000
—
Restructuring costs, net
26,873
25,412
9,410
2,613
3,155
In-process research and development
—
—
—
879
32,390
Gain on sale of assets
(155
)
(13,287
)
—
—
—
Total operating expenses
392,906
590,875
461,762
479,532
374,007
Operating income (loss)
(69,884
)
(198,450
)
(12,619
)
(34,848
)
36,749
Interest and other income, net
(123
)
2,936
7,637
7,274
5,586
Income (loss) before income taxes
(70,007
)
(195,514
)
(4,982
)
(27,574
)
42,335
(Benefit from) provision for income taxes
(1,652
)
2,663
2,997
15,353
8,355
Net income (loss)
$
(68,355
)
$
(198,177
)
$
(7,979
)
$
(42,927
)
$
33,980
Net income (loss) per common share – basic
$
(1.83
)
$
(5.28
)
$
(0.19
)
$
(1.03
)
$
0.90
Net income (loss) per common share – diluted
$
(1.83
)
$
(5.28
)
$
(0.19
)
$
(1.03
)
$
0.86
Weighted-average common shares outstanding - basic
37,293
37,556
40,974
41,736
37,762
Weighted-average common shares outstanding - diluted
37,293
37,556
40,974
41,736
39,517
CONSOLIDATED BALANCE SHEET DATA:
(in thousands)
As of December 31,
2009
2008
2007
2006
2005
Cash, cash equivalents and marketable securities
$
108,877
$
147,694
$
224,460
$
172,107
$
238,430
Working capital
143,499
191,838
308,589
287,757
299,276
Total assets
611,038
703,585
1,005,953
997,034
1,062,046
Long-term liabilities
14,483
11,823
17,495
20,471
20,048
Total stockholders' equity
443,118
492,655
779,783
780,381
839,597