Plantronics 2007 Annual Report Download - page 69

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part ii
65A R 2 0 0 7
PLANTRONICS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal Year Ended March 31, (in thousands, except per share data) 2005 2006 2007
Net revenues $559,995 $750,394 $800,154
Cost of revenues 271,537 424,140 491,339
Gross profit 288,458 326,254 308,815
Operating expenses:
Research, development and engineering 45,216 62,798 71,895
Selling, general and administrative 116,621 153,094 182,108
Gain on sale of land — — (2,637)
Total operating expenses 161,837 215,892 251,366
Operating income 126,621 110,362 57,449
Interest and other income, net 3,739 2,192 4,089
Income before income taxes 130,360 112,554 61,538
Income tax expense 32,840 31,404 11,395
Net income $ 97,520 $ 81,150 $ 50,143
Net income per share—basic $ 2.02 $ 1.72 $ 1.06
Shares used in basic per share calculations 48,249 47,120 47,361
Net income per share—diluted $ 1.92 $ 1.66 $ 1.04
Shares used in diluted per share calculations 50,821 48,788 48,020
Cash dividends declared per common share $ 0.15 $ 0.20 $ 0.20
The accompanying notes are an integral part of these consolidated financial statements.