THQ 2008 Annual Report Download - page 65

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THQ INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Fiscal Year Ended March 31,
2008 2007 2006
Net sales .......................................... $1,030,467 $1,026,856 $806,560
Costs and expenses:
Cost of sales—product costs .......................... 389,097 351,449 287,946
Cost of sales—software amortization and royalties .......... 231,800 165,462 116,371
Cost of sales—license amortization and royalties ............ 99,524 99,533 80,508
Cost of sales—venture partner expense .................. 24,056 16,730 12,572
Product development ............................... 128,869 97,105 94,575
Selling and marketing ............................... 175,288 139,958 124,809
General and administrative ........................... 69,901 78,413 57,944
Total costs and expenses ............................. 1,118,535 948,650 774,725
Income (loss) from continuing operations .................. (88,068) 78,206 31,835
Interest and other income, net ......................... 15,433 12,822 7,955
Income (loss) from continuing operations before income taxes and
minority interest ................................... (72,635) 91,028 39,790
Income taxes ..................................... (35,785) 26,206 7,621
Income (loss) from continuing operations before minority interest . (36,850) 64,822 32,169
Minority interest ................................... — 136 (63)
Income (loss) from continuing operations .................. (36,850) 64,958 32,106
Gain on sale of discontinued operations, net of tax ........... 1,513 3,080 —
Net income (loss) .................................... $ (35,337) $ 68,038 $ 32,106
Earnings (loss) per share—basic:
Continuing operations ............................... $ (0.55) $ 1.00 $ 0.51
Discontinued operations ............................. 0.02 0.05 —
Earnings (loss) per share—basic ....................... $ (0.53) $ 1.05 $ 0.51
Earnings (loss) per share—diluted:
Continuing operations ............................... $ (0.55) $ 0.96 $ 0.49
Discontinued operations ............................. 0.02 0.05 —
Earnings (loss) per share—diluted ...................... $ (0.53) $ 1.01 $ 0.49
Shares used in per share calculation—basic ................. 66,475 65,039 62,615
Shares used in per share calculation—diluted ................ 66,475 67,593 65,520
See notes to consolidated financial statements.
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