Netgear 2012 Annual Report Download - page 37

Table of Contents
The following selected consolidated financial data are qualified in their entirety, and should be read in conjunction with, the consolidated financial
statements and related notes thereto, and “Management's Discussion and Analysis of Financial Condition and Results of Operations”
included
elsewhere in this Form 10-K.
We derived the selected consolidated statement of operations data for the years ended December 31, 2012 , 2011 and 2010
and the selected
consolidated balance sheet data as of December 31, 2012 and 2011
from our audited consolidated financial statements appearing elsewhere in this
Form 10-K. We derived the selected consolidated statement of operations data for the years ended December 31, 2009 and 2008
and the selected
consolidated balance sheet data as of December 31, 2010 , 2009 and 2008
from our audited consolidated financial statements, which are not included
in this Form 10-K. Historical results are not necessarily indicative of results to be expected for future periods.
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Item 6. Selected Financial Data
Year Ended December 31,
2012 2011 2010 2009 2008
(In thousands, except per share data)
Consolidated Statement of Operations Data:
Net revenue
$
1,271,921
$
1,181,018
$
902,052
$
686,595
$
743,344
Cost of revenue (2)
888,368
811,572
602,805
480,195
502,320
Gross profit
383,553
369,446
299,247
206,400
241,024
Operating expenses:
Research and development (2)
61,066
48,699
39,972
30,056
33,773
Sales and marketing (2)
149,766
154,562
131,570
106,162
121,687
General and administrative (2)
45,027
39,423
36,220
32,727
31,733
Restructuring and other charges (2)
1,190
2,094
(88
)
809
1,929
In-process research and development
—
—
—
—
1,800
Technology license arrangements
—
—
—
2,500
—
Litigation reserves, net
390
(201
)
211
2,080
711
Total operating expenses
257,439
244,577
207,885
174,334
191,633
Income from operations
126,114
124,869
91,362
32,066
49,391
Interest income
498
477
426
629
4,336
Other income (expense), net
2,670
(1,136
)
(564
)
(128
)
(8,384
)
Income before income taxes
129,282
124,210
91,224
32,567
45,343
Provision for income taxes
42,743
32,842
40,315
23,234
27,293
Net income
$
86,539
$
91,368
$
50,909
$
9,333
$
18,050
Net income per share:
Basic (1)
$
2.27
$
2.46
$
1.44
$
0.27
$
0.51
Diluted (1)
$
2.23
$
2.41
$
1.41
$
0.27
$
0.51
(1) Information regarding calculation of per share data is described in Note 6, Net Income Per Share , in Notes to Consolidated Financial Statements in Item 8 of Part II of this Annual
Report on Form 10-K.