THQ 2004 Annual Report Download - page 56

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Year Ended March 31, Transition Years Ended December 31,
(In thousands, except per share data) 2004 2003 2002 2001
Net sales $ 640,846 $ 66,800 $ 480,529 $ 378,992
Costs and expenses:
Cost of sales 229,218 26,378 185,593 154,898
License amortization and royalties 71,132 5,576 40,476 33,144
Software development amortization 105,632 12,018 83,698 35,144
Product development 36,850 8,899 34,696 17,774
Selling and marketing 92,475 14,294 66,443 46,745
Payment to venture partner 9,675 644 10,146 8,673
General and administrative 47,006 8,442 34,993 28,470
Total costs and expenses 591,988 76,251 456,045 324,848
Income (loss) from operations 48,858 (9,451) 24,484 54,144
Interest income, net 2,378 878 5,277 2,572
Other income (expense) 4,000 (2,403) (10,006) —
Income (loss) before income taxes 55,236 (10,976) 19,755 56,716
Income taxes 19,397 (3,290) 6,761 20,703
Net income (loss) $ 35,839 $ (7,686) $ 12,994 $ 36,013
Net income (loss) per share — basic $ 0.94 $ (0.20) $ 0.33 $ 1.10
Net income (loss) per share — diluted $ 0.92 $ (0.20) $ 0.32 $ 1.01
Shares used in per share calculation — basic 38,186 38,319 39,203 32,717
Shares used in per share calculation — diluted 39,004 38,319 41,243 35,623
THQ INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
See notes to consolidated financial statements.