Apple 1994 Annual Report Download - page 26

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Consolidated Statements of Income
(In thousands, except per share amounts)
See accompanying notes.
24
Three fiscal years ended 1994 1993 1992
September 30, 1994
Net sales $ 9,188,748 $ 7,976,954 $ 7,086,542
Costs and expenses:
Cost of sales 6,844,915 5,248,834 3,991,337
Research and development 564,303 664,564 602,135
Selling, general and
administrative 1,384,111 1,632,362 1,687,262
Restructuring costs (126,855) 320,856 --
8,666,474 7,866,616 6,280,734
Operating income 522,274 110,338 805,808
Interest and other income
(expense), net (21,988) 29,321 49,634
Income before income taxes 500,286 139,659 855,442
Provision for income taxes 190,108 53,070 325,069
Net income $ 310,178 $ 86,589 $ 530,373
Earnings per common and common
equivalent share $ 2.61 $ .73 $ 4.33
Common and common equivalent
shares used in the calculations
of earnings per share 118,735 119,125 122,490