Apple 2008 Annual Report Download - page 90
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Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 11—Selected Quarterly Financial Information (Unaudited)
The following tables set forth a summary of the Company’s quarterly financial information for each of the four quarters ended September 27,
2008 and September 29, 2007 (in millions, except per share amounts):
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.
87
Fourth Quarter
Third Quarter
Second Quarter
First Quarter
2008
Net sales
$
7,895
$
7,464
$
7,512
$
9,608
Gross margin
$
2,739
$
2,600
$
2,474
$
3,332
Net income
$
1,136
$
1,072
$
1,045
$
1,581
Earnings per common share:
Basic
$
1.28
$
1.21
$
1.19
$
1.81
Diluted
$
1.26
$
1.19
$
1.16
$
1.76
2007
Net sales
$
6,217
$
5,410
$
5,264
$
7,115
Gross margin
$
2,090
$
1,995
$
1,849
$
2,220
Net income
$
904
$
818
$
770
$
1,004
Earnings per common share:
Basic
$
1.04
$
0.94
$
0.89
$
1.17
Diluted
$
1.01
$
0.92
$
0.87
$
1.14