EMC 2002 Annual Report Download - page 43

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Table of Contents
EMC CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
For the Year Ended December 31,
2002 2001 2000
Revenues:
Net sales $4,219,156 $5,915,695 $7,966,974
Services 1,219,196 1,174,938 905,842
5,438,352 7,090,633 8,872,816
Costs and expenses:
Cost of sales 2,614,482 3,525,145 3,125,908
Cost of services 705,028 721,897 603,857
Research and development 781,457 928,701 783,166
Selling, general and administrative 1,680,814 2,214,223 2,102,982
Restructuring and other special charges 150,402 398,508 —
Operating income (loss) (493,831) (697,841) 2,256,903
Investment income 256,153 265,285 206,240
Interest expense (11,415) (11,338) (14,604)
Other expense, net (47,394) (133,141) (7,341)
Income (loss) before taxes (296,487) (577,035) 2,441,198
Income tax provision (benefit) (177,781) (69,323) 659,123
Net income (loss) $ (118,706) $ (507,712) $1,782,075
Net income (loss) per weighted average share, basic $ (0.05) $ (0.23) $ 0.82
Net income (loss) per weighted average share, diluted $ (0.05) $ (0.23) $ 0.79
Weighted average shares, basic 2,206,294 2,211,273 2,164,180
Weighted average shares, diluted 2,206,294 2,211,273 2,245,203
The accompanying notes are an integral part of the consolidated financial statements.
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