|
Condensed Consolidated Statements of Income
(In thousands, except per share data) |
|
| |
|
|
Three Months Ended |
|
Six Months Ended |
| |
|
|
|
|
|
| |
|
|
June 2
2000
|
|
June 4
1999
|
|
June 2
2000
|
|
June 4
1999
|
| Revenue |
|
$300,085 |
|
$245,886 |
|
$582,317 |
|
$472,788 |
| |
|
|
|
|
|
|
|
|
|
| Direct costs |
|
20,604 |
|
23,704 |
|
41,326 |
|
46,203 |
| |
|
|
|
|
|
|
|
|
|
| Gross margin |
|
279,481 |
|
222,182 |
|
540,991 |
|
426,585 |
| |
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
| |
Research and development |
|
60,912 |
|
47,596 |
|
118,370 |
|
92,473 |
| |
Sales and marketing |
|
93,622 |
|
79,475 |
|
181,382 |
|
157,955 |
| |
General and administrative |
|
27,920 |
|
27,052 |
|
54,677 |
|
52,455 |
| |
Restructuring and other charges |
|
6,301 |
|
15,340 |
|
5,629 |
|
15,340 |
| |
Amortization of goodwill and purchased intangibles |
|
1,215 |
|
1,198 |
|
2,418 |
|
2,388 |
| |
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
189,970 |
|
170,661 |
|
362,476 |
|
320,611 |
| |
|
|
|
|
|
|
|
|
|
| Operating income |
|
89,511 |
|
51,521 |
|
178,515 |
|
105,974 |
| |
|
|
|
|
|
|
|
|
|
| Nonoperating income, net: |
|
|
|
|
|
|
|
|
| |
Investment gain |
|
7,691 |
|
14,015 |
|
12,367 |
|
13,995 |
| |
Interest and other income |
|
3,993 |
|
5,252 |
|
9,644 |
|
11,138 |
| |
|
|
|
|
|
|
|
|
|
| Total nonoperating income, net |
|
11,684 |
|
19,267 |
|
22,011 |
|
25,133 |
| |
|
|
|
|
|
|
|
|
|
| Income before income taxes |
|
101,195 |
|
70,788 |
|
200,526 |
|
131,107 |
|
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
35,418 |
|
25,827 |
|
70,184 |
|
47,870 |
| |
|
|
|
|
|
|
|
|
|
| Net income |
|
$65,777 |
|
$44,961 |
|
$130,342 |
|
$83,237 |
| |
|
|
|
|
|
|
|
|
|
| Basic net income per share |
|
$ .55 |
|
$ .37 |
|
$1.10 |
|
$ .68 |
| |
|
|
|
|
|
|
|
|
|
| Shares used in computing basic net income per share |
|
118,758 |
|
121,144 |
|
118,573 |
|
121,534 |
| |
|
|
|
|
|
|
|
|
|
| Diluted net income per share |
|
$ .52 |
|
$ .35 |
|
$1.02 |
|
$ .65 |
| |
|
|
|
|
|
|
|
|
|
| Shares used in computing diluted net income per share |
|
127,674 |
|
128,100 |
|
127,356 |
|
127,728 |
| |
|
|
|
|
|
|
|
|
|
| |
| Return to the 2000 Second Quarter Earnings Release |
###
Copyright © 2000 Adobe Systems Incorporated. All rights reserved. Adobe and the Adobe logo are trademarks of Adobe Systems Incorporated. All other trademarks are properties of their respective owners.
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