Apple 1997 Annual Report Download - page 35
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CONSOLIDATED STATEMENTS OF OPERATIONS
(DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
See accompanying notes to consolidated financial statements.
32
THREE FISCAL YEARS ENDED SEPTEMBER 26, 1997 1997 1996 1995
--------------------------------------------------------------------------------- --------- --------- ---------
Net sales........................................................................ $ 7,081 $ 9,833 $ 11,062
--------- --------- ---------
Costs and expenses:
Cost of sales.................................................................. 5,713 8,865 8,204
Research and development....................................................... 485 604 614
Selling, general and administrative............................................ 1,286 1,568 1,583
Special charges:
In-process research and development.......................................... 375 -- --
Restructuring costs.......................................................... 217 179 (23)
Termination of license agreement............................................. 75 -- --
--------- --------- ---------
8,151 11,216 10,378
--------- --------- ---------
Operating income (loss).......................................................... (1,070) (1,383) 684
Interest and other income (expense), net 25 88 (10)
--------- --------- ---------
Income (loss) before provision (benefit) for income taxes........................ (1,045) (1,295) 674
Provision (benefit) for income taxes............................................. -- (479) 250
--------- --------- ---------
Net income (loss)................................................................ $ (1,045) $ (816) $ 424
--------- --------- ---------
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Earnings (loss) per common and common equivalent share........................... $ (8.29) $ (6.59) $ 3.45
--------- --------- ---------
--------- --------- ---------
Common and common equivalent shares used in the calculations of earnings (loss)
per share (in thousands)....................................................... 126,062 123,734 123,047
--------- --------- ---------
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