Qualcomm 2002 Annual Report Download - page 59

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PAGE 57
QUALCOMM 2002 ANNUAL REPORT
Years Ended September 30,
2002 2001* 2000*
Revenues:
Equipment and services $2,203,610 $1,907,856 $2,525,595
Licensing and royalty fees 835,950 771,930 671,185
3,039,560 2,679,786 3,196,780
Operating expenses:
Cost of equipment and services revenues 1,137,360 1,035,103 1,507,122
Research and development 451,678 414,760 340,407
Selling, general and administrative 508,644 367,155 342,940
Amortization of goodwill and other acquisition-related intangible assets 259,196 255,230 145,643
Purchased in-process technology — — 60,030
Asset impairment and related charges 459 518,026 45,743
Other 8,955 50,825 32,257
Total operating expenses 2,366,292 2,641,099 2,474,142
Operating income 673,268 38,687 722,638
Interest expense (25,731) (10,235) (4,923)
Investment (expense) income, net (Note 6) (186,412) (317,091) 446,126
Distributions on Trust Convertible
Preferred Securities of subsidiary trust — — (13,039)
Other (Note 4) — (167,001) (2,062)
Income (loss) before income taxes and accounting changes 461,125 (455,640) 1,148,740
Income tax expense (101,448) (104,501) (526,594)
Income (loss) before accounting changes 359,677 (560,141) 622,146
Accounting changes, net of tax (Note 1) — (17,937) —
Net income (loss) $ 359,677 $ (578,078) $ 622,146
Basic net earnings (loss) per common share:
Income (loss) before accounting changes $ 0.47 $ (0.74) $ 0.87
Accounting changes, net of tax — (0.02) —
Net income (loss) $ 0.47 $ (0.76) $ 0.87
Diluted net earnings (loss) per common share:
Income (loss) before accounting changes $ 0.44 $ (0.74) $ 0.79
Accounting changes, net of tax — (0.02) —
Net income (loss) $ 0.44 $ (0.76) $ 0.79
Shares used in per share calculations:
Basic 770,887 755,969 717,205
Diluted 809,329 755,969 800,121
* As adjusted (Note 13)
See accompanying notes.
CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data)