Netgear 2010 Annual Report Download - page 44

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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:
42
Year Ended December 31,
2010
Percentage
Change
2009
Percentage
Change
2008
(In thousands, except percentage data)
Net revenue
$
902,052
31.4
%
686,595
(7.6
%)
743,344
Cost of revenue
602,805
25.5
%
480,195
(4.4
%)
502,320
Gross profit
299,247
45.0
%
206,400
(14.4
%)
241,024
Operating expenses:
Research and development
39,972
33.0
%
30,056
(11.0
%)
33,773
Sales and marketing
131,570
23.9
%
106,162
(12.8
%)
121,687
General and administrative
36,220
10.7
%
32,727
3.1
%
31,733
Restructuring
(88
)
*
*
809
(58.1
%)
1,929
In
-
process research and development
—
*
*
—
(
100.0
%)
1,800
Technology license arrangements
—
(
100.0
%)
2,500
*
*
—
Litigation reserves, net
211
(89.9
%)
2,080
192.5
%
711
Total operating expenses
207,885
19.2
%
174,334
(9.0
%)
191,633
Income from operations
91,362
184.9
%
32,066
(35.1
%)
49,391
Interest income, net
426
(32.3
%)
629
(85.5
%)
4,336
Other income (expense), net
(564
)
340.6
%
(128
)
(98.5
%)
(8,384
)
Income before income taxes
91,224
180.1
%
32,567
(28.2
%)
45,343
Provision for income taxes
40,315
73.5
%
23,234
(14.9
%)
27,293
Net income
$
50,909
445.5
%
9,333
(48.3
%)
18,050
**
Percentage change not meaningful.