Western Digital 1998 Annual Report Download - page 35

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30
WESTERN DIGITAL CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
Years ended
June 29,
1996 June 28,
1997 June 27,
1998
Revenues, net .......................................................................................... $2,865,219 $4,177,857 $3,541,525
Costs and expenses:
Cost of revenues.................................................................................... 2,483,155 3,527,574 3,441,475
Research and development.................................................................... 150,112 150,157 203,733
Selling, general and administrative (Note 8)......................................... 154,497 198,530 192,142
Total costs and expenses............................................................... 2,787,764 3,876,261 3,837,350
Operating income (loss).......................................................................... 77,455 301,596 (295,825)
Net interest income (Note 2)................................................................... 13,134 13,223 3,817
Gain on sale of multimedia business (Note 8)......................................... 17,275 — —
Income (loss) before income taxes.......................................................... 107,864 314,819 (292,008)
Provision (benefit) for income taxes (Note 5)......................................... 10,970 47,223 (1,791)
Net income (loss).................................................................................... $ 96,894 $ 267,596 $ (290,217)
Earnings (loss) per common share (Note 9):
Basic..................................................................................................... $ 1.05 $ 3.07 $ (3.32)
Diluted .................................................................................................. $ 1.01 $ 2.86 $ (3.32)
Common shares used in computing per share amounts
(Note 9):
Basic..................................................................................................... 92,559 87,261 87,525
Diluted .................................................................................................. 96,248 93,522 87,525
See notes to consolidated financial statements.