SanDisk 2009 Annual Report Download - page 117

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This is a TAB type table. Insert
conts here. Annual Report
SANDISK CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal Years Ended
January 3,
2010
December 28,
2008
December 30,
2007
(In thousands, except per share amounts)
Revenues
Product ............................................. $3,154,314 $ 2,843,243 $ 3,446,125
License and royalty .................................... 412,492 508,109 450,241
Total revenues ............................................ 3,566,806 3,351,352 3,896,366
Cost of product revenues .................................... 2,269,651 3,233,753 2,628,838
Amortization of acquisition-related intangible assets .............. 12,529 54,512 64,809
Total cost of product revenues ............................... 2,282,180 3,288,265 2,693,647
Gross profit .............................................. 1,284,626 63,087 1,202,719
Operating expenses
Research and development .............................. 384,158 429,949 418,066
Sales and marketing ................................... 208,514 328,079 294,594
General and administrative .............................. 171,359 204,765 181,509
Impairment of goodwill ................................. — 845,453 —
Impairment of acquisition-related intangible assets ........... — 175,785 —
Amortization of acquisition-related intangible assets .......... 1,167 17,069 25,308
Restructuring and other ................................. 38 35,467 6,728
Total operating expenses ............................ 765,236 2,036,567 926,205
Operating income (loss) .................................... 519,390 (1,973,480) 276,514
Interest income ........................................... 63,273 94,417 133,355
Loss in equity investments .................................. (1,646) (39,568) (9,949)
Interest (expense) and other income (expense), net ............... (77,216) (33,743) (47,262)
Total other income (expense), net ............................. (15,589) 21,106 76,144
Income (loss) before provision for income taxes ................. 503,801 (1,952,374) 352,658
Provision for income taxes .................................. 88,491 34,250 156,831
Net income (loss) ......................................... 415,310 (1,986,624) 195,827
Less: Income attributable to non-controlling interests ............. — — 5,211
Net income (loss) attributable to common stockholders ............ $ 415,310 $(1,986,624) $ 190,616
Net income (loss) attributable to common stockholders per share:
Basic ............................................... $ 1.83 $ (8.82) $ 0.84
Diluted .............................................. $ 1.79 $ (8.82) $ 0.81
Shares used in computing net income (loss) attributable to common
stockholders per share:
Basic ............................................... 227,435 225,292 227,744
Diluted .............................................. 231,959 225,292 235,857
The accompanying notes are an integral part of these consolidated financial statements.
F-5