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30
ANNUAL RESULTS OF OPERATIONS
The following tables set forth, for the periods indicated, the consolidated statements of operations data and data by segment. The
financial information and the ensuing discussion should be read in conjunction with the accompanying consolidated financial
statements and notes thereto.
Consolidated
(in thousands)
Net revenues 750,394$ 100.0% 800,154$ 100.0% 856,286$ 100.0%
Cost of revenues 424,140 56.5% 491,339 61.4% 507,181 59.2%
Gross profit 326,254 43.5% 308,815 38.6% 349,105 40.8%
Operating expense:
Research, development and engineering 62,798 8.4% 71,895 9.0% 76,982 9.0%
Selling, general and administrative 153,094 20.4% 182,108 22.7% 189,156 22.1%
Restructuring and other related charges - 0.0% - 0.0% 3,584 0.4%
Gain on sale of land - 0.0% (2,637) (0.3)% - 0.0%
Total operating expenses 215,892 28.8% 251,366 31.4% 269,722 31.5%
Operating income 110,362 14.7% 57,449 7.2% 79,383 9.3%
Interest and other income (expense), net 2,192 0.3% 4,089 0.5% 5,854 0.7%
Income before income taxes 112,554 15.0% 61,538 7.7% 85,237 10.0%
Income tax expense 31,404 4.2% 11,395 1.4% 16,842 2.0%
Net income 81,150$ 10.8% 50,143$ 6.3% 68,395$ 8.0%
Fiscal Year Ended March 31,
2006 2007 2008
Audio Communications Group
(in thousands)
Net revenues 629,725$ 100.0% 676,514$ 100.0% 747,935$ 100.0%
Cost of revenues 340,437 54.1% 381,034 56.3% 403,863 54.0%
Gross profit 289,288 45.9% 295,480 43.7% 344,072 46.0%
Operating expense:
Research, development and engineering 56,570 8.9% 61,583 9.1% 65,733 8.8%
Selling, general and administrative 132,867 21.1% 151,857 22.5% 163,173 21.8%
Gain on sale of land - 0.0% (2,637) (0.4)% - 0.0%
Total operating expenses 189,437 30.0% 210,803 31.2% 228,906 30.6%
Operating income 99,851$ 15.9% 84,677$ 12.5% 115,166$ 15.4%
Fiscal Year Ended March 31,
200820072006