SanDisk 2008 Annual Report Download - page 70

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SANDISK CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal Years Ended
December 28,
2008
December 30,
2007
December 31,
2006
(In thousands, except per share amounts)
Revenues
Product ............................................. $2,843,243 $ 3,446,125 $ 2,926,472
License and royalty .................................... 508,109 450,241 331,053
Total revenues ............................................ 3,351,352 3,896,366 3,257,525
Cost of product revenues .................................... 3,233,753 2,628,838 2,007,684
Amortization of acquisition-related intangible assets .............. 54,512 64,809 10,368
Total cost of product revenues ............................... 3,288,265 2,693,647 2,018,052
Gross profit .............................................. 63,087 1,202,719 1,239,473
Operating expenses
Research and development .............................. 429,949 418,066 306,866
Sales and marketing ................................... 328,079 294,594 203,406
General and administrative .............................. 204,765 181,509 159,835
Impairment of goodwill ................................. 845,453 — —
Impairment of acquisition-related intangible assets ........... 175,785 — —
Amortization of acquisition-related intangible assets .......... 17,069 25,308 17,432
Write-off of acquired in-process technology ................ — — 225,600
Restructuring and other ................................. 35,467 6,728 —
Total operating expenses ............................ 2,036,567 926,205 913,139
Operating income (loss) .................................... (1,973,480) 276,514 326,334
Interest income ........................................... 94,417 133,355 101,088
Income (loss) in equity investments ........................... (39,568) (9,949) 6,678
Interest (expense) and other income (expense), net ............... 15,597 (1,504) (3,392)
Total other income ........................................ 70,446 121,902 104,374
Income (loss) before provision for income taxes ................. (1,903,034) 398,416 430,708
Provision for income taxes .................................. 153,742 174,848 230,193
Income (loss) after taxes .................................... (2,056,776) 223,568 200,515
Minority interest .......................................... — 5,211 1,619
Net income (loss) ......................................... $(2,056,776) $ 218,357 $ 198,896
Net income (loss) per share:
Basic ............................................... $ (9.13) $ 0.96 $ 1.00
Diluted .............................................. $ (9.13) $ 0.93 $ 0.96
Shares used in computing net income (loss) per share:
Basic ............................................... 225,292 227,744 198,929
Diluted .............................................. 225,292 235,857 207,451
The accompanying notes are an integral part of these consolidated financial statements.
F-5