Cisco 2014 Annual Report Download - page 82
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CISCO SYSTEMS, INC.
Consolidated Statements of Operations
(in millions, except per-share amounts)
Years Ended July 26, 2014 July 27, 2013 July 28, 2012
REVENUE:
Product ....................................................... $36,172 $38,029 $36,326
Service ....................................................... 10,970 10,578 9,735
Total revenue .............................................. 47,142 48,607 46,061
COST OF SALES:
Product ....................................................... 15,641 15,541 14,505
Service ....................................................... 3,732 3,626 3,347
Total cost of sales ........................................... 19,373 19,167 17,852
GROSS MARGIN ..................................................... 27,769 29,440 28,209
OPERATING EXPENSES:
Research and development ........................................ 6,294 5,942 5,488
Sales and marketing ............................................. 9,503 9,538 9,647
General and administrative ........................................ 1,934 2,264 2,322
Amortization of purchased intangible assets .......................... 275 395 383
Restructuring and other charges .................................... 418 105 304
Total operating expenses ..................................... 18,424 18,244 18,144
OPERATING INCOME ................................................ 9,345 11,196 10,065
Interest income ................................................. 691 654 650
Interest expense ................................................ (564) (583) (596)
Other income (loss), net .......................................... 243 (40) 40
Interest and other income (loss), net ............................ 370 31 94
INCOME BEFORE PROVISION FOR INCOME TAXES ................... 9,715 11,227 10,159
Provision for income taxes ................................................ 1,862 1,244 2,118
NET INCOME ................................................ $ 7,853 $ 9,983 $ 8,041
Net income per share:
Basic ............................................................. $ 1.50 $ 1.87 $ 1.50
Diluted ........................................................... $ 1.49 $ 1.86 $ 1.49
Shares used in per-share calculation:
Basic ............................................................. 5,234 5,329 5,370
Diluted ........................................................... 5,281 5,380 5,404
Cash dividends declared per common share .................................. $ 0.72 $ 0.62 $ 0.28
See Notes to Consolidated Financial Statements.
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