|
Condensed Consolidated Statements of Income
(In thousands, except per share data) |
|
| |
|
|
Three Months Ended |
|
Six Months Ended |
| |
|
|
|
|
|
| |
|
|
(Unaudited)
May 31
2002
|
|
(Unaudited)
June 1
2001
|
|
(Unaudited)
May 31
2002
|
|
(Unaudited)
June 1
2001
|
| Revenue |
|
$317,359 |
|
$344,093 |
|
$585,255 |
|
$673,062 |
| |
|
|
|
|
|
|
|
|
|
| Direct costs |
|
25,133 |
|
22,359 |
|
46,130 |
|
42,375 |
| |
|
|
|
|
|
|
|
|
|
| Gross profit |
|
292,226 |
|
321,734 |
|
539,125 |
|
630,687 |
| |
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
| |
Research and development |
|
62,858 |
|
59,597 |
|
122,155 |
|
115,284 |
| |
Sales and marketing |
|
103,898 |
|
109,582 |
|
193,216 |
|
213,442 |
| |
General and administrative |
|
29,066 |
|
31,075 |
|
54,665 |
|
61,445 |
| |
Restructuring and other charges |
|
1,605 |
|
-- |
|
1,605 |
|
-- |
| |
Acquired in-process research and development |
|
410 |
|
-- |
|
5,769 |
|
-- |
| |
Amortization of goodwill and purchased intangibles |
|
3,541 |
|
3,581 |
|
7,082 |
|
7,163 |
| |
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
201,378 |
|
203,835 |
|
384,492 |
|
397,334 |
| |
|
|
|
|
|
|
|
|
|
| Operating income |
|
90,848 |
|
117,899 |
|
154,633 |
|
233,353 |
| |
|
|
|
|
|
|
|
|
|
| Nonoperating income, net: |
|
|
|
|
|
|
|
|
| |
Investment (loss) |
|
(13,728) |
|
(31,031) |
|
(9,195) |
|
(48,069) |
| |
Interest and other income |
|
2,735 |
|
4,632 |
|
7,664 |
|
10,329 |
| |
|
|
|
|
|
|
|
|
|
| Total nonoperating loss, net |
|
(10,993) |
|
(26,399) |
|
(1,531) |
|
(37,740) |
| |
|
|
|
|
|
|
|
|
|
| Income before income taxes |
|
79,855 |
|
91,500 |
|
153,102 |
|
195,613 |
|
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
25,554 |
|
30,195 |
|
48,993 |
|
64,552 |
| |
|
|
|
|
|
|
|
|
|
| Net income |
|
$54,301 |
|
$61,305 |
|
$104,109 |
|
$131,061 |
| |
|
|
|
|
|
|
|
|
|
| Basic net income per share |
|
$ .23 |
|
$.26 |
|
$.44 |
|
$.55 |
| |
|
|
|
|
|
|
|
|
|
| Shares used in computing basic net income per share |
|
238,202 |
|
238,163 |
|
237,369 |
|
239,212 |
| |
|
|
|
|
|
|
|
|
|
| Diluted net income per share |
|
$.22 |
|
$.25 |
|
$.42 |
|
$.52 |
| |
|
|
|
|
|
|
|
|
|
| Shares used in computing diluted net income per share |
|
247,687 |
|
250,127 |
|
246,358 |
|
252,115
|
| |
|
|
|
|
|
|
|
|
|
| |
| Return to the 2002 Second Quarter Earnings Release |
###
Copyright © 2002 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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