Apple 2003 Annual Report Download - page 17

Plaintiff UNOVA filed this patent infringement action against the Company and six other defendants on May 8, 2002 in the Central District of
California for infringement of eight UNOVA patents related to "Smart Battery Management." Plaintiff alleges that the Company's portable
computers manufactured since 1996 infringe these eight patents. Plaintiff has filed similar lawsuits against other companies in addition to the
co-defendants in this case. Plaintiff seeks unspecified damages and other relief. The Company has answered the complaint, denying all
allegations and asserting numerous affirmative defenses. The Company also asserted counterclaims requesting a declaratory judgment for non-
infringement, invalidity and unenforceability. The case is in discovery and is set for trial on March 16, 2004.
Item 4. Submission of Matters to a Vote of Security Holders
No matters were submitted to a vote of security holders during the fourth quarter of the Company's fiscal year ended September 27, 2003.
18
PART II
Item 5. Market for the Registrant's Common Equity and Related Shareholder Matters
The Company's common stock is traded on the over-the-
counter market and is quoted on the Nasdaq National Market under the symbol AAPL,
on the Tokyo Stock Exchange under the symbol APPLE, and on the Frankfurt Stock Exchange under the symbol APCD. As of December 5,
2003, there were 29,015 shareholders of record.
On June 21, 2000, the Company effected a two-for-one stock split in the form of a Common Stock dividend to shareholders of record as of
May 19, 2000. All share price and per share data and numbers of common shares have been retroactively adjusted to reflect the stock split. The
Company did not pay cash dividends in either fiscal 2003 or 2002. The Company anticipates that, for the foreseeable future, it will retain any
earnings for use in the operation of its business. The price range per share of common stock presented below represents the highest and lowest
closing prices for the Company's common stock on the Nasdaq National Market during each quarter.
Item 6. Selected Financial Data
The following selected financial information has been derived from the audited consolidated financial statements. The information set forth
below is not necessarily indicative of results of future operations, and should be read in conjunction with Item 7, "Management's Discussion
and Analysis of Financial Condition and Results of Operations" and the consolidated financial statements and related notes thereto included in
Item 8 of this Form 10-K in order to fully understand factors that may affect the comparability of the information presented below.
Fourth Quarter Third Quarter Second Quarter First Quarter
Fiscal 2003 price range per common share
$
23.10
-
$19.06
$
19.29
-
$13.12
$
15.27
-
$13.80
$
17.22
-
$13.59
Fiscal 2002 price range per common share
$
18.74
-
$13.99
$
26.11
-
$16.55
$
25.45
-
$20.78
$
23.76
-
$14.98
Five fiscal years ended September 27, 2003
(In millions, except share and per share amounts)
2003 2002 2001 2000 1999
Net sales
$
6,207
$
5,742
$
5,363
$
7,983
$
6,134
Net income (loss)
$
69
$
65
$
(25
)
$
786
$
601
Earnings (loss) per common share:
Basic
$
0.19
$
0.18
$
(0.07
)
$
2.42
$
2.10
Diluted
$
0.19
$
0.18
$
(0.07
)
$
2.18
$
1.81
Cash dividends declared per common share
$
—
$
—
$
—
$
—
$
—
Shares used in computing earnings (loss) per share (in
thousands):
Basic
360,631
355,022
345,613
324,568
286,314
Diluted
363,466
361,785
345,613
360,324
348,328
Cash, cash equivalents, and short
-
term investments
$
4,566
$
4,337
$
4,336
$
4,027
$
3,226
Total assets
$
6,815
$
6,298
$
6,021
$
6,803
$
5,161
Long
-
term debt (including current maturities)
$
304
$
316
$
317
$
300
$
300
Total liabilities
$
2,592
$
2,203
$
2,101
$
2,696
$
2,057
Shareholders' equity
$
4,223
$
4,095
$
3,920
$
4,107
$
3,104