iRobot 2014 Annual Report Download - page 116

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43
iROBOT CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
Fiscal Year Ended
December 27,
2014 December 28,
2013 December 29,
2012
(In thousands, except per share amounts)
Revenue $ 556,846 $ 487,401 $ 436,244
Cost of revenue(1) 298,791 266,247 241,896
Gross margin 258,055 221,154 194,348
Operating expenses:
Research and development(1) 69,408 63,649 57,066
Selling and marketing(1) 86,091 71,529 66,412
General and administrative(1) 49,439 53,358 45,698
Total operating expenses 204,938 188,536 169,176
Operating income 53,117 32,618 25,172
Other income (expense), net (708)(203) 435
Income before income taxes 52,409 32,415 25,607
Income tax expense 14,606 4,774 8,310
Net income $ 37,803 $ 27,641 $ 17,297
Net income per share
Basic $ 1.28 $ 0.97 $ 0.63
Diluted $ 1.25 $ 0.94 $ 0.61
Number of shares used in per share calculations
Basic 29,485 28,495 27,577
Diluted 30,210 29,354 28,301
__________________________
(1) Stock-based compensation recorded in fiscal 2014, 2013 and 2012 breaks down by expense classification as follows:
Fiscal Year Ended
December 27,
2014 December 28,
2013 December 29,
2012
(In thousands)
Cost of revenue $ 865 $ 700 $ 889
Research and development 3,359 2,700 1,904
Selling and marketing 1,296 1,246 808
General and administrative 8,258 8,763 7,382
See accompanying Notes to Consolidated Financial Statements