Apple 1995 Annual Report Download - page 38

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Selected Quarterly Financial Information (Unaudited)
(Tabular amounts in millions, except per share amounts)
At September 29, 1995, there were 29,247 shareholders of record.
The Company began declaring quarterly cash dividends on its common stock in April 1987. The dividend policy is determined quarterly by the
Board of Directors and is dependent on the Company's earnings, capital requirements, financial condition, and other factors.
The price range per common share represents the highest and lowest closing prices for the Company's common stock on the Nasdaq National
Market during each quarter.
Net income for the first quarter of 1995 includes a restructuring adjustment that increased income by $17 million ($11 million, or $0.09 per
share, after taxes). Net income for the third quarter of 1995 includes a restructuring adjustment that increased income by $6 million ($4 million,
or $0.03 per share, after taxes). Net income for the third quarter of 1994 includes a restructuring adjustment that increased income by $127
million ($79 million, or $0.66 per share, after taxes).
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Not applicable.
36
Fourth Third Second First
Quarter Quarter Quarter Quarter
1995
Net sales $ 3,003 $ 2,575 $ 2,652 $ 2,832
Gross margin $ 621 $ 728 $ 695 $ 814
Net income $ 60 $ 103 $ 73 $ 188
Earnings per common and
common equivalent share $ 0.48 $ 0.84 $ 0.59 $ 1.55
Cash dividends declared
per common share $ 0.12 $ 0.12 $ 0.12 $ 0.12
Price range per common
share $49 7/8- $50 1/8- $48- $43 3/4-
$34 11/16 $33 5/8 $33 7/8 $32 1/2
1994
Net sales $ 2,493 $ 2,150 $ 2,077 $ 2,469
Gross margin $ 679 $ 574 $ 499 $ 592
Net income $ 115 $ 138 $ 17 $ 40
Earnings per common and
common equivalent share $ 0.95 $ 1.16 $ 0.15 $ 0.34
Cash dividends declared
per common share $ 0.12 $ 0.12 $ 0.12 $ 0.12
Price range per common
share $36 3/8- $33 1/2- $38 1/8- $ 34-
$26 1/8 $25 1/8 $29 1/4 $22 1/2