HP 2005 Annual Report Download - page 139

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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Quarterly Summary
(Unaudited)
Three-month periods ended
January 31 April 30 July 31 October 31
In millions, except per share amounts
2005
Net revenue .......................................... $21,454 $21,570 $20,759 $22,913
Cost of sales(1) ......................................... 16,537 16,429 15,942 17,532
Research and development ................................. 878 890 863 859
Selling, general and administrative ............................ 2,704 2,933 2,761 2,786
Amortization of purchased intangible assets ...................... 167 151 168 136
Pension curtailment gain .................................. — — — (199)
Restructuring charges .................................... 3 4 112 1,565
In-process research and development charges ..................... — — — 2
Total costs and expenses ................................... 20,289 20,407 19,846 22,681
Earnings from operations .................................. 1,165 1,163 913 232
Interest and other, net .................................... 25 (87) 119 132
(Losses) gains on investments ............................... (24) 3 (6) 14
Dispute settlement ...................................... (116) — 7 3
Earnings before taxes .................................... 1,050 1,079 1,033 381
Provision for taxes ...................................... 107 113 960 (35)
Net earnings .......................................... 943 966 73 416
Net earnings per share:(2)
Basic ............................................. $ 0.32 $ 0.33 $ 0.03 $ 0.15
Diluted ............................................ $ 0.32 $ 0.33 $ 0.03 $ 0.14
Cash dividends paid per share ............................... $ 0.08 $ 0.08 $ 0.08 $ 0.08
Range of per share closing stock prices on the New York Stock Exchange and
Nasdaq Stock Market:
Low.............................................. $18.76 $ 19.57 $ 20.15 $ 23.70
High ............................................. $21.33 $ 22.00 $ 24.94 $ 29.20
2004(3)
Net revenue .......................................... $19,514 $20,113 $18,889 $21,389
Cost of sales(1) ......................................... 14,691 15,182 14,545 16,393
Research and development ................................. 889 924 877 873
Selling, general and administrative ............................ 2,578 2,665 2,621 2,632
Amortization of purchased intangible assets ...................... 144 148 146 165
Restructuring charges .................................... 54 38 9 13
Acquisition-related charges ................................. 15 9 6 24
In-process research and development charges ..................... — 9 28 —
Total costs and expenses ................................... 18,371 18,975 18,232 20,100
Earnings from operations .................................. 1,143 1,138 657 1,289
Interest and other, net .................................... 11 2 20 2
Gains (losses) on investments ............................... 9 (5) 1 (1)
Dispute settlement ...................................... — (70) — —
Earnings before taxes .................................... 1,163 1,065 678 1,290
Provision for taxes ...................................... 227 181 92 199
Net earnings .......................................... 936 884 586 1,091
Net earnings per share:(2)
Basic ............................................. $ 0.31 $ 0.29 $ 0.19 $ 0.37
Diluted ............................................ $ 0.30 $ 0.29 $ 0.19 $ 0.37
Cash dividends paid per share ............................... $ 0.08 $ 0.08 $ 0.08 $ 0.08
Range of per share closing stock prices on the New York Stock Exchange and
Nasdaq Stock Market:
Low.............................................. $21.28 $ 19.70 $ 19.50 $ 16.50
High ............................................. $26.12 $ 24.12 $ 22.00 $ 20.50
(1) Cost of products, cost of services and financing interest.
(2) EPS for each quarter is computed using the weighted-average number of shares outstanding during that quarter, while EPS
for the fiscal year is computed using the weighted-average number of shares outstanding during the year. Thus, the sum of
the EPS for each of the four quarters may not equal the EPS for the fiscal year.
(3) Certain reclassifications have been made in order to conform to the fiscal 2005 presentation.
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