SanDisk 1999 Annual Report Download - page 33

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30 Annual Report 1999
SANDISK CORPORATION CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)
Years Ended December 31, 1999 1998 1997
Revenues
Product $ 2 05,770 $ 103,190 $ 105,675
License and royalty 41,220 32,571 19,578
Total revenues 246,990 135,761 125,253
Cost of revenues 152,143 80,311 72,280
Gross profits 94,847 55,450 52,973
Operating expenses
Research and development 26,883 18,174 13,577
Sales and marketing 25,294 16,933 12,568
General and administrative 12,585 7,533 7,148
Total operating expenses 64,762 42,640 33,293
Operating income 30,085 12,810 19,680
Interest income 8,280 5,307 3,661
Other income (loss), net 1,261 374 ( 1 )
Income before taxes 39,626 18,491 23,340
Provision for income taxes 13 ,076 6,655 3,501
Net income $ 26,550 $ 11,836 $ 19,839
Net income per share
Basic $ 0.4 8 $ 0.23 $ 0.43
Diluted $ 0.43 $ 0.21 $ 0.40
Shares used in computing net income per share
Basic 55,834 52,596 45,760
Diluted 61,433 55,344 49,940
The accompanying notes are an integral part of these consolidated financial statements