Logitech 2011 Annual Report Download - page 196

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The accompanying notes are an integral part of these consolidated financial statements.
LOGITECH INTERNATIONAL S.A.
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
Year ended March 31,
2011 2010 2009
Net sales................................................. $2,362,886 $1,966,748 $2,208,832
Cost of goods sold ......................................... 1,526,380 1,339,852 1,517,606
Gross profit .............................................. 836,506 626,896 691,226
Operating expenses:
Marketing and selling.................................... 420,580 304,788 319,167
Research and development................................ 156,390 135,813 128,755
General and administrative................................ 116,880 106,147 113,103
Restructuring charges.................................... — 1,784 20,547
Total operating expenses .............................. 693,850 548,532 581,572
Operating income ......................................... 142,656 78,364 109,654
Interest income, net ........................................ 2,316 2,120 8,628
Other income, net ......................................... 3,476 3,139 8,511
Income before income taxes ................................. 148,448 83,623 126,793
Provision for income taxes .................................. 19,988 18,666 19,761
Net income............................................... $ 128,460 $ 64,957 $ 107,032
Net income per share:
Basic................................................. $ 0.73 $ 0.37 $ 0.60
Diluted ............................................... $ 0.72 $ 0.36 $ 0.59
Shares used to compute net income per share:
Basic................................................. 176,928 177,279 178,811
Diluted ............................................... 178,790 179,340 182,911