SanDisk 2013 Annual Report Download - page 171
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SANDISK CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal years ended
December 29, December 30, January 1,
2013 2012 2012
(In thousands, except per share amounts)
Revenue ........................................... $6,170,003 $5,052,509 $5,662,145
Cost of revenue ...................................... 3,252,988 3,326,747 3,183,257
Amortization of acquisition-related intangible assets .............. 49,532 42,542 39,742
Total cost of revenue ................................ 3,302,520 3,369,289 3,222,999
Gross profit ................................... 2,867,483 1,683,220 2,439,146
Operating expenses:
Research and development ............................ 742,268 602,765 547,373
Sales and marketing ................................ 276,312 224,054 199,422
General and administrative ............................ 192,310 150,401 157,766
Amortization of acquisition-related intangible assets ........... 11,155 9,045 4,485
Impairment of acquisition-related intangible assets ............ 83,228 860 —
Total operating expenses .......................... 1,305,273 987,125 909,046
Operating income ..................................... 1,562,210 696,095 1,530,100
Interest income ....................................... 48,785 58,991 60,412
Gain (loss) on investments ............................... 3,219 (7,762) 21,540
Interest (expense) and other income (expense), net .............. (98,065) (120,408) (135,298)
Total other income (expense), net .......................... (46,061) (69,179) (53,346)
Income before income taxes .............................. 1,516,149 626,916 1,476,754
Provision for income taxes ............................... 473,492 209,512 489,764
Net income ...................................... $1,042,657 $ 417,404 $ 986,990
Net income per share:
Basic ........................................... $ 4.44 $ 1.72 $ 4.12
Diluted ......................................... $ 4.34 $ 1.70 $ 4.04
Shares used in computing net income per share:
Basic ........................................... 234,886 242,076 239,484
Diluted ......................................... 240,236 245,253 244,553
Cash dividends declared per share .......................... $ 0.45 $ — $ —
The accompanying notes are an integral part of these consolidated financial statements.
F-5
Annual Report