Blizzard 2005 Annual Report Download - page 57

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(In thousands, except per share data)
For the years ended March 31, 2005 2004 2003
Net฀revenues $ 1,405,857 $ 947,656 $ 864,116
Costs฀and฀expenses:
฀ ฀Cost฀of฀sales—product฀costs 658,949 475,541 440,977
฀ ฀Cost฀of฀sales—software฀royalties฀and฀amortization 123,800 59,744 79,194
฀ ฀Cost฀of฀sales—intellectual฀property฀licenses 62,197 31,862 45,002
฀ ฀Product฀development 86,543 97,859 56,971
฀ ฀Sales฀and฀marketing 230,058 128,221 100,646
฀ ฀General฀and฀administrative 59,739 44,612 46,479
฀ ฀ ฀Total฀costs฀and฀expenses 1,221,286 837,839 769,269
Income฀from฀operations 184,571 109,817 94,847
Investment฀income,฀net 13,092 6,175 8,560
฀ ฀ ฀Income฀before฀income฀tax฀provision 197,663 115,992 103,407
Income฀tax฀provision 59,328 38,277 37,227
Net฀income $ 138,335 $ 77,715 $ 66,180
Basic฀earnings฀per฀share $ 0.74 $ 0.44 $ 0.34
Weighted฀average฀common฀shares฀outstanding 187,517 177,665 192,479
Diluted฀earnings฀per฀share $ 0.66 $ 0.40 $ 0.32
Weighted฀average฀common฀shares฀outstanding—assuming฀dilution 209,145 193,191 207,310
The accompanying notes are an integral part of these consolidated financial statements.
Consolidated Statements of Operations
page 55
Activision, Inc. — 2005 Annual Report