SanDisk 2014 Annual Report Download - page 145
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SANDISK CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal years ended
December 28, December 29, December 30,
2014 2013 2012
(In thousands, except per share amounts)
Revenue ......................................... $ 6,627,701 $ 6,170,003 $ 5,052,509
Cost of revenue .................................... 3,458,954 3,252,988 3,326,747
Amortization of acquisition-related intangible assets ........... 100,899 49,532 42,542
Total cost of revenue ............................. 3,559,853 3,302,520 3,369,289
Gross profit ................................ 3,067,848 2,867,483 1,683,220
Operating expenses:
Research and development ......................... 852,310 742,268 602,765
Sales and marketing .............................. 383,288 276,312 224,054
General and administrative ......................... 214,902 192,310 150,401
Amortization of acquisition-related intangible assets ........ 26,423 11,155 9,045
Impairment of acquisition-related intangible assets ......... — 83,228 860
Restructuring and other ........................... 32,991 — —
Total operating expenses ........................ 1,509,914 1,305,273 987,125
Operating income ......................... 1,557,934 1,562,210 696,095
Interest income .................................... 51,811 48,785 58,991
Gain (loss) on investments ............................. 4,763 3,219 (7,762)
Interest (expense) and other income (expense), net ............ (125,478) (98,065) (120,408)
Total other income (expense), net ..................... (68,904) (46,061) (69,179)
Income before income taxes .................. 1,489,030 1,516,149 626,916
Provision for income taxes ............................. 481,584 473,492 209,512
Net income .................................... $ 1,007,446 $ 1,042,657 $ 417,404
Net income per share:
Basic ........................................ $ 4.52 $ 4.44 $ 1.72
Diluted ....................................... $ 4.23 $ 4.34 $ 1.70
Shares used in computing net income per share:
Basic ........................................ 222,714 234,886 242,076
Diluted ....................................... 238,209 240,236 245,253
Cash dividends declared per share ....................... $ 1.05 $ 0.45 $ —
The accompanying notes are an integral part of these consolidated financial statements.
F-5
Annual Report