Netgear 2007 Annual Report Download - page 33

Download and view the complete annual report

Please find page 33 of the 2007 Netgear annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 90

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90

Table of Contents
Results of Operations
The following table sets forth the consolidated statements of operations and the percentage change from the
preceding year for the periods indicated:
29
Year Ended December 31,
Percentage
Percentage
2004
Change
2005
Change
2006
(In thousands, except percentage data)
Net revenue
$
383,139
17.3
%
$
449,610
27.6
%
$
573,570
Cost of revenue
260,318
14.4
297,911
27.5
379,911
Gross profit
122,821
23.5
151,699
27.7
193,659
Operating expenses:
Research and development
10,316
24.4
12,837
43.7
18,443
Sales and marketing
62,247
14.6
71,345
28.8
91,881
General and administrative
14,905
(2.3
)
14,559
43.6
20,905
In
-
process research and development
—
**
—
**
2,900
Litigation reserves
—
**
802
(100.0
)
—
Total operating expenses
87,468
13.8
99,543
34.7
134,129
Income from operations
35,353
47.5
52,156
14.1
59,530
Interest income
1,593
157.6
4,104
69.9
6,974
Other income (expense), net
(560
)
216.1
(1,770
)
**
2,495
Income before income taxes
36,386
49.8
54,490
26.6
68,999
Provision for income taxes
12,921
61.5
20,867
33.5
27,867
Net income
$
23,465
43.3
%
$
33,623
22.3
%
$
41,132
**
Percentage change not meaningful as prior year basis is zero or a negative amount.