NVIDIA 2007 Annual Report Download - page 63

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NVIDIA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Year Ended
January 28,
2007
Year Ended
January 29,
2006
Year Ended
January 30,
2005
Revenue $ 3,068,771 $ 2,375,687 $ 2,010,033
Cost of revenue 1,768,322 1,465,654 1,362,478
Gross profit 1,300,449 910,033 647,555
Operating expenses:
Research and development 553,467 357,123 348,220
Sales, general and administrative 293,530 202,088 204,159
Settlement costs − 14,158 −−
Total operating expenses 846,997 573,369 552,379
Income from operations 453,452 336,664 95,176
Interest income 41,820 20,698 11,422
Interest expense (21) (72) (164)
Other income (expense), net (771) (502) 594
Income before income tax expense 494,480 356,788 107,028
Income tax expense 46,350 55,612 18,413
Income before change in accounting principle 448,130 301,176 88,615
Cumulative effect of change in accounting principle, net of tax 704 − −
Net income $ 448,834 $ 301,176 $ 88,615
Basic income per share
Income before change in accounting principle $ 1.27 $ 0.89 $ 0.27
Cumulative effect of change in accounting principle − − −
Basic net income per share $ 1.27 $ 0.89 $ 0.27
Shares used in basic per share computation (1) 352,404 339,380 332,124
Diluted income per share:
Income before change in accounting principle $ 1.15 $ 0.82 $ 0.25
Cumulative effect of change in accounting principle − − −
Diluted net income per share $ 1.15 $ 0.82 $ 0.25
Shares used in diluted per share computation (1) 391,504 365,704 351,624
(1) Reflects a two−for−one stock split effective on April 6, 2006.
See accompanying notes to consolidated financial statements.
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Source: NVIDIA CORP, 10−K, March 16, 2007