Apple 2009 Annual Report Download - page 59

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Table of Contents
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except share amounts which are reflected in thousands and per share amounts)
See accompanying Notes to Consolidated Financial Statements.
56
Three years ended September 26, 2009
2009
2008
2007
Net sales
$
36,537
$
32,479
$
24,006
Cost of sales
23,397
21,334
15,852
Gross margin
13,140
11,145
8,154
Operating expenses:
Research and development
1,333
1,109
782
Selling, general and administrative
4,149
3,761
2,963
Total operating expenses
5,482
4,870
3,745
Operating income
7,658
6,275
4,409
Other income and expense
326
620
599
Income before provision for income taxes
7,984
6,895
5,008
Provision for income taxes
2,280
2,061
1,512
Net income
$
5,704
$
4,834
$
3,496
Earnings per common share:
Basic
$
6.39
$
5.48
$
4.04
Diluted
$
6.29
$
5.36
$
3.93
Shares used in computing earnings per share:
Basic
893,016
881,592
864,595
Diluted
907,005
902,139
889,292