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10-K.Info (Beta Test)
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SALESFORCE, INC.

Ticker: CRM   Fiscal Year: 2010

Consolidated Statements of Operations

Period Ending Jan 31, 2011 10-K (Filed: Mar 23, 2011)

(In Thousands)
 12 Months Ended12 Months Ended12 Months Ended
 Jan 31, 2011Jan 31, 2010Jan 31, 2009
Revenues:
Subscription and support
$
1,551,145
1,209,472984,574
Professional services and other105,99496,11192,195
Total revenues1,657,1391,305,5831,076,769
 
Cost of revenues (1):
Subscription and support208,243159,172127,082 [1]
Professional services and other115,57098,75393,389
Total cost of revenues323,813257,925220,471
 
Gross profit1,333,3261,047,658856,298
 
Operating expenses (1):
Research and development187,887131,89799,530
Marketing and sales792,029605,199534,413
General and administrative255,913195,290158,613
Total operating expenses1,235,829932,386792,556
 
Income from operations97,497115,27263,742
 
Investment income37,73530,40822,774
Interest expense(24,909)(2,000)(107)
Other expense(6,025)(1,299)(817)
Income before provision for income taxes and noncontrolling interest104,298142,38185,592
 
Provision for income taxes(34,601)(57,689)(37,557)
Consolidated net income69,69784,69248,035
 
Less: Net income attributable to noncontrolling interest(5,223)(3,973)(4,607)
Net income attributable to salesforce.com64,47480,71943,428
 
Earnings per share-basic and diluted:
Basic net income per share attributable to salesforce.com common shareholders0.500.650.36
Diluted net income per share attributable to salesforce.com common shareholders0.470.630.35
Shares used in computing basic net income per share130,222124,462121,183
Shares used in computing diluted net income per share136,598128,114125,228
[1] Amounts include stock-based expenses, as follows (see Note 1): Cost of revenues $ 12,158 $ 12,570 $ 11,051; Research and development $18,897 $ 13,129 $ 9,852; Marketing and sales $ 56,451 $ 39,722 $ 36,028; General and administrative $ 32,923 $ 23,471 $ 20,435.
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SALESFORCE, INC.

Ticker: CRM   Fiscal Year: 2010

Consolidated Statements of Cash Flows

Period Ending Jan 31, 2011 10-K (Filed: Mar 23, 2011)

(In Thousands, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Jan 31, 2011Jan 31, 2010Jan 31, 2009
Operating activities:
Consolidated net income
$
69,697
84,69248,035
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization75,74653,17735,971
Amortization of debt discount and transaction costs19,6217280
Amortization of deferred commissions80,15963,89158,732
Expenses related to stock-based awards120,42988,89277,366
Excess tax benefits from employee stock plans(35,991)(51,539)(54,597)
Loss on securities001,783
Changes in assets and liabilities:
Accounts receivable, net(102,507)(54,522)(44,798)
Deferred commissions(121,247)(82,336)(63,701)
Prepaid expenses and other current assets2,001(3,899)(4,746)
Other assets(9,770)(1,405)(1,292)
Accounts payable1,246(1,588)8,512
Accrued expenses and other current liabilities132,00464,49855,440
Deferred revenue227,693110,322112,852
Net cash provided by operating activities459,081270,911229,557
 
Investing activities:
Business combinations, net of cash acquired(403,331)(11,999)(27,907)
Land activity and building improvements(277,944)00
Strategic investments(20,105)(4,400)0
Purchases of marketable securities(1,682,549)(1,317,952)(449,035)
Sales of marketable securities1,197,492874,573154,287
Maturities of marketable securities214,770130,663284,339
Capital expenditures(90,887)(49,501)(61,059)
Net cash used in investing activities(1,062,554)(378,616)(99,375)
 
Financing activities:
Proceeds from borrowings on convertible debt0567,0940
Proceeds from issuance of warrants059,2830
Purchase of convertible note hedge0(126,500)0
Purchase of subsidiary stock(171,964)0(21,622)
Proceeds from the exercise of stock options160,40293,85643,311
Excess tax benefits from employee stock plans35,99151,53954,597
Principal payments on capital lease obligations(10,355)(8,119)(997)
Net cash provided by financing activities14,074637,15375,289
 
Effect of exchange rate changes2,385(1,976)(732)
Net increase (decrease) in cash and cash equivalents(587,014)527,472204,739
 
Cash and cash equivalents, beginning of period1,011,306483,834
Cash and cash equivalents, end of period424,2921,011,306483,834
 
Supplemental cash flow disclosure:
Cash paid during the period for:
Interest, net1,2501,069107
Income taxes, net of tax refunds9028,4799,600
Noncash financing and investing activities
Fixed assets acquired under capital leases13,22417,0006,406
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SALESFORCE, INC.

Ticker: CRM   Fiscal Year: 2010

Consolidated Balance Sheets

Period Ending Jan 31, 2011 10-K (Filed: Mar 23, 2011)

(In Thousands, except shares in actual)
 As ofAs of
 Jan 31, 2011Jan 31, 2010
Assets
Current assets:
Cash and cash equivalents
$
424,292
1,011,306
Short-term marketable securities72,678230,659
Accounts receivable, net of allowance for doubtful accounts of $1,711 and $1,050 at January 31, 2011 and 2010, respectively426,943320,956
Deferred commissions67,77447,388
Deferred income taxes27,51640,116
Prepaid expenses and other current assets55,72155,734
Total current assets1,074,9241,706,159
 
Marketable securities, noncurrent910,587485,083
Property and equipment, net387,17489,711
Deferred commissions, noncurrent48,84228,140
Deferred income taxes, noncurrent41,19927,579
Capitalized software, net127,98734,809
Goodwill396,08148,955
Other assets, net104,37139,765
Total assets3,091,1652,460,201
 
Liabilities and stockholders' equity
Current liabilities:
Accounts payable18,10614,791
Accrued expenses and other current liabilities345,121203,162
Deferred revenue913,239690,177
Total current liabilities1,276,466908,130
 
0.75% convertible senior notes due 2015, net472,538450,198
Income taxes payable, noncurrent18,48117,551
Long-term lease liabilities and other25,48713,485
Deferred revenue, noncurrent21,70214,171
Total liabilities1,814,6741,403,535
 
Commitments and contingencies (Notes 8 and 9)  
Salesforce.com stockholders' equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized and none issued and outstanding00
Common stock, $0.001 par value; 400,000,000 shares authorized, 132,921,147 and 127,152,449 issued and outstanding at January 31, 2011 and 2010, respectively133127
Additional paid-in capital1,098,604938,544
Accumulated other comprehensive income (loss)6,719(1,430)
Retained earnings171,035106,561
Total stockholders' equity controlling interest1,276,4911,043,802
 
Total stockholders' equity noncontrolling interest012,864
Total stockholders' equity1,276,4911,056,666
 
Total liabilities and stockholders' equity3,091,1652,460,201
 
External Links 
SALESFORCE, INC. (CRM) Fiscal Year 2010
Statements of 10-K in Excel https://www.sec.gov/.../Financial.xlxs
Complete 10-K in HTML https://www.sec.gov/.../10-K.html
Complete 10-K in XBRL https://www.sec.gov/.../10-K-xbrl.zip