Apple 2009 Annual Report Download - page 38

Table of Contents
The information set forth below for the five years ended September 26, 2009, 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 to fully understand factors that may affect the
comparability of the information presented below (in millions, except share amounts which are reflected in thousands and per share amounts).
This section and other parts of this Form 10-K contain forward-looking statements that involve risks and uncertainties. Forward-
looking
statements can also be identified by words such as “anticipates,” “expects,” “believes,” “plans,” “predicts,” and similar terms. Forward-
looking statements are not guarantees of future performance and the Company’
s actual results may differ significantly from the results discussed
in the forward-
looking statements. Factors that might cause such differences include, but are not limited to, those discussed in the subsection
entitled “Risk Factors”
above, which are incorporated herein by reference. The following discussion should be read in conjunction with the
consolidated financial statements and notes thereto included in Item 8 of this Form 10-
K. All information presented herein is based on the
Company’s fiscal calendar. Unless otherwise stated, references in this report to particular years or quarters refer to the Company’
s fiscal years
ended in September and the associated quarters of those fiscal years. The Company assumes no obligation to revise or update any forward-
looking statements for any reason, except as required by law.
Executive Overview
The Company designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video
players and sells a variety of related software, services, peripherals, and networking solutions. The Company’
s products and services include the
Mac line of desktop and portable computers, iPhone, the iPod line of portable digital music and video players, Apple TV, Xserve, a portfolio of
consumer and professional software applications, the Mac OS X operating system, third-
party digital content and applications through the iTunes
Store, and a variety of accessory, service and support offerings. The Company sells its products worldwide through its online stores, its retail
stores, its direct sales force, and third-party wholesalers, retailers, and value-added resellers. In addition, the Company sells a variety of third-
party Mac, iPhone and iPod compatible products, including application software, printers, storage devices, speakers, headphones, and various
other accessories and peripherals through its online and retail stores. The Company sells to consumer, small and mid-sized business (“SMB”
),
education, enterprise, government, and creative markets.
35
Item 6.
Selected Financial Data
2009 2008 2007 2006 2005
Net sales
$
36,537
$
32,479
$
24,006
$
19,315
$
13,931
Net income
$
5,704
$
4,834
$
3,496
$
1,989
$
1,328
Earnings per common share:
Basic
$
6.39
$
5.48
$
4.04
$
2.36
$
1.64
Diluted
$
6.29
$
5.36
$
3.93
$
2.27
$
1.55
Cash dividends declared per common share
$
—
$
—
$
—
$
—
$
—
Shares used in computing earnings per share:
Basic
893,016
881,592
864,595
844,058
808,439
Diluted
907,005
902,139
889,292
877,526
856,878
Cash, cash equivalents and marketable securities
$
33,992
$
24,490
$
15,386
$
10,110
$
8,261
Total assets
$
53,851
$
39,572
$
25,347
$
17,205
$
11,516
Long
-
term debt
$
—
$
—
$
—
$
—
$
—
Total liabilities
$
26,019
$
18,542
$
10,815
$
7,221
$
4,088
Shareholders
’
equity
$
27,832
$
21,030
$
14,532
$
9,984
$
7,428
Item 7.
Management
’
s Discussion and Analysis of Financial Condition and Results of Operations