Apple 2000 Annual Report Download - page 37

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CONSOLIDATED STATEMENTS OF OPERATIONS
(IN MILLIONS, EXCEPT SHARE AND PER SHARE AMOUNTS)
See accompanying notes to consolidated financial statements
34
THREE FISCAL YEARS ENDED SEPTEMBER 30, 2000 2000 1999 1998
------------------------------------------- -------- -------- ---------
Net sales................................................... $ 7,983 $ 6,134 $ 5,941
Cost of sales............................................... 5,817 4,438 4,462
-------- -------- ---------
Gross margin................................................ 2,166 1,696 1,479
-------- -------- ---------
Operating expenses:
Research and development.................................. 380 314 303
Selling, general, and administrative...................... 1,166 996 908
Special charges:
Executive bonus......................................... 90 -- --
Restructuring costs..................................... 8 27 --
In-process research and development..................... -- -- 7
-------- -------- ---------
Total operating expenses.............................. 1,644 1,337 1,218
-------- -------- ---------
Operating income............................................ 522 359 261
Gains from sales of investment.............................. 367 230 40
Interest and other income, net.............................. 203 87 28
-------- -------- ---------
Total interest and other income, net........................ 570 317 68
-------- -------- ---------
Income before provision for income taxes.................... 1,092 676 329
Provision for income taxes.................................. 306 75 20
-------- -------- ---------
Net income.................................................. $ 786 $ 601 $ 309
======== ======== =========
Earnings per common share:
Basic..................................................... $ 2.42 $ 2.10 $ 1.17
Diluted................................................... $ 2.18 $ 1.81 $ 1.05
Shares used in computing earnings per share (in thousands):
Basic..................................................... 324,568 286,314 263,948
Diluted................................................... 360,324 348,328 335,834