Plantronics 2006 Annual Report Download - page 79

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part ii
PLANTRONICS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal Year Ended March 31, (in thousands, except income per share) 2004 2005 2006
Net revenues $416,965 $559,995 $750,394
Cost of revenues 200,995 271,537 424,140
Gross profit 215,970 288,458 326,254
Operating expenses:
Research, development and engineering 35,460 45,216 62,798
Selling, general and administrative 95,756 116,621 153,094
Total operating expenses 131,216 161,837 215,892
Operating income 84,754 126,621 110,362
Interest and other income, net 1,745 3,739 2,192
Income before income taxes 86,499 130,360 112,554
Income tax expense 24,220 32,840 31,404
Net income $ 62,279 $ 97,520 $ 81,150
Net income per share—basic $ 1.39 $ 2.02 $ 1.72
Shares used in basic per share calculations 44,830 48,249 47,120
Net income per share—diluted $ 1.31 $ 1.92 $ 1.66
Shares used in diluted per share calculations 47,492 50,821 48,788
Cash dividends declared per common share $ — $ 0.15 $ 0.20
The accompanying notes are an integral part of these consolidated financial statements.
AR 2006 ⯗73