Apple 2005 Annual Report Download - page 63

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CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except share and per share amounts)
See accompanying notes to consolidated financial statements.
61
Three fiscal years ended September 24, 2005
2005
2004
2003
Net sales
$
13,931
$
8,279
$
6,207
Cost of sales
9,888
6,020
4,499
Gross margin
4,043
2,259
1,708
Operating expenses:
Research and development
534
489
471
Selling, general, and administrative
1,859
1,421
1,212
Restructuring costs
—
23
26
Total operating expenses
2,393
1,933
1,709
Operating income (loss)
1,650
326
(1
)
Other income and expense:
Gains on non
-
current investments, net
—
4
10
Interest and other income, net
165
53
83
Total other income and expense
165
57
93
Income before provision for income taxes
1,815
383
92
Provision for income taxes
480
107
24
Income before accounting changes
1,335
276
68
Cumulative effects of accounting changes, net of income taxes
—
—
1
Net income
$
1,335
$
276
$
69
Earnings per common share before accounting changes:
Basic
$
1.65
$
0.37
$
0.09
Diluted
$
1.56
$
0.36
$
0.09
Earnings per common share:
Basic
$
1.65
$
0.37
$
0.10
Diluted
$
1.56
$
0.36
$
0.09
Shares used in computing earnings per share (in thousands):
Basic
808,439
743,180
721,262
Diluted
856,780
774,622
726,932