Apple 2011 Annual Report Download - page 45

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CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
See accompanying Notes to Consolidated Financial Statements.
43
Three years ended September 24, 2011
2011
2010
2009
Net sales
$
108,249
$
65,225
$
42,905
Cost of sales
64,431
39,541
25,683
Gross margin
43,818
25,684
17,222
Operating expenses:
Research and development
2,429
1,782
1,333
Selling, general and administrative
7,599
5,517
4,149
Total operating expenses
10,028
7,299
5,482
Operating income
33,790
18,385
11,740
Other income and expense
415
155
326
Income before provision for income taxes
34,205
18,540
12,066
Provision for income taxes
8,283
4,527
3,831
Net income
$
25,922
$
14,013
$
8,235
Earnings per common share:
Basic
$
28.05
$
15.41
$
9.22
Diluted
$
27.68
$
15.15
$
9.08
Shares used in computing earnings per share:
Basic
924,258
909,461
893,016
Diluted
936,645
924,712
907,005