EMC 2004 Annual Report Download - page 51

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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,
2004 2003 2002
Revenues:
Product sales $ 6,055,121 $ 4,723,554 $ 4,219,156
Services 2,174,367 1,513,254 1,219,196
8,229,488 6,236,808 5,438,352
Costs and expenses:
Cost of product sales 3,040,560 2,664,162 2,614,482
Cost of services 974,321 730,588 705,028
Research and development 847,899 718,470 781,457
Selling, general and administrative 2,266,665 1,656,164 1,680,814
Restructuring and other special charges 56,050 66,267 150,402
Operating income (loss) 1,043,993 401,157 (493,831)
Investment income 156,726 187,803 256,153
Interest expense (7,516) (3,030) (11,415)
Other expense, net (8,173) (14,907) (47,394)
Income (loss) before taxes 1,185,030 571,023 (296,487)
Income tax provision (benefit) 313,841 74,915 (177,781)
Net income (loss) $ 871,189 $ 496,108 $ (118,706)
Net income (loss) per weighted average share, basic $ 0.36 $ 0.22 $ (0.05)
Net income (loss) per weighted average share, diluted $ 0.36 $ 0.22 $ (0.05)
Weighted average shares, basic 2,402,198 2,211,544 2,206,294
Weighted average shares, diluted 2,450,570 2,237,656 2,206,294
The accompanying notes are an integral part of the consolidated financial statements.
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