Apple 2012 Annual Report Download - page 44

Download and view the complete annual report

Please find page 44 of the 2012 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 88

  • 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

CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except number of shares which are reflected in thousands and per share amounts)
Years ended
September 29, 2012 September 24, 2011 September 25, 2010
Net sales ..................................... $156,508 $108,249 $ 65,225
Cost of sales .................................. 87,846 64,431 39,541
Gross margin .............................. 68,662 43,818 25,684
Operating expenses:
Research and development ................... 3,381 2,429 1,782
Selling, general and administrative ............. 10,040 7,599 5,517
Total operating expenses ................. 13,421 10,028 7,299
Operating income .............................. 55,241 33,790 18,385
Other income/(expense), net . . . . . . . . . . . . . . . . . . . . . . 522 415 155
Income before provision for income taxes ........... 55,763 34,205 18,540
Provision for income taxes ....................... 14,030 8,283 4,527
Net income ................................... $ 41,733 $ 25,922 $ 14,013
Earnings per share:
Basic .................................... $ 44.64 $ 28.05 $ 15.41
Diluted ................................... $ 44.15 $ 27.68 $ 15.15
Shares used in computing earnings per share:
Basic .................................... 934,818 924,258 909,461
Diluted ................................... 945,355 936,645 924,712
Cash dividends declared per common share .......... $ 2.65 $ 0.00 $ 0.00
See accompanying Notes to Consolidated Financial Statements.
43