Apple 2005 Annual Report Download - page 99

Download and view the complete annual report

Please find page 99 of the 2005 Apple annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 13—Selected Quarterly Financial Information (Unaudited)
Basic and diluted earnings per share are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and
diluted per share information may not equal annual basic and diluted earnings per share.
Net income during the fourth quarter of 2005 benefited by $81 million from the reversal of certain tax contingency reserves and adjustments to
net deferred tax assets, including reductions to valuation allowances.
Net income during the fourth, third, and second quarters of 2004 included restructuring charges, net of tax, of $4 million, $6 million, and $7
million, respectively. Net income during the fourth quarter of 2004 included after-tax gains related to non-current investments of $3 million.
97
Fourth Quarter
Third Quarter
Second Quarter
First Quarter
(Tabular amounts in millions, except per share amounts)
2005
Net sales
$
3,678
$
3,520
$
3,243
$
3,490
Gross margin
$
1,035
$
1,044
$
968
$
996
Net income
$
430
$
320
$
290
$
295
Earnings per common share:
Basic
$
0.52
$
0.39
$
0.36
$
0.37
Diluted
$
0.50
$
0.37
$
0.34
$
0.35
2004
Net sales
$
2,350
$
2,014
$
1,909
$
2,006
Gross margin
$
634
$
559
$
530
$
536
Net income
$
106
$
61
$
46
$
63
Earnings per common share:
Basic
$
0.14
$
0.08
$
0.06
$
0.09
Diluted
$
0.13
$
0.08
$
0.06
$
0.08