Apple 1995 Annual Report Download - page 23

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Consolidated Statements of Income
(Dollars in millions, except per share amounts)
See accompanying notes.
21
Three fiscal years ended
September 29, 1995 1995 1994 1993
Net sales $ 11,062 $ 9,189 $ 7,977
Costs and expenses:
Cost of sales 8,204 6,846 5,249
Research and development 614 564 665
Selling, general and
administrative 1,583 1,384 1,632
Restructuring costs (23) (127) 321
10,378 8,667 7,867
Operating income 684 522 110
Interest and other income
(expense), net (10) (22) 30
Income before income taxes 674 500 140
Provision for income taxes 250 190 53
Net income $ 424 $ 310 $ 87
Earnings per common and common
equivalent share $ 3.45 $ 2.61 $ 0.73
Common and common equivalent
shares used in the calculations
of earnings per share
(in thousands) 123,047 118,735 119,125