HP 2008 Annual Report Download - page 165

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
2008
Net revenue .......................................... $28,467 $28,262 $28,032 $33,603
Cost of sales(1) ......................................... 21,499 21,261 21,253 25,908
Research and development ................................. 898 908 895 842
Selling, general and administrative ............................ 3,241 3,275 3,137 3,451
Amortization of purchased intangible assets ...................... 206 211 213 337
In-process research and development charges ..................... — 13 — 32
Restructuring charges .................................... 10 4 5 251
Acquisition-related charges ................................. — — — 41
Total costs and expenses ................................... 25,854 25,672 25,503 30,862
Earnings from operations .................................. 2,613 2,590 2,529 2,741
Interest and other, net .................................... 72 3 23 (98)
Earnings before taxes .................................... 2,685 2,593 2,552 2,643
Provision for taxes ...................................... 552 536 525 531
Net earnings .......................................... $2,133 $ 2,057 $ 2,027 $ 2,112
Net earnings per share:(2)
Basic ............................................. $ 0.83 $ 0.83 $ 0.82 $ 0.87
Diluted ............................................ $ 0.80 $ 0.80 $ 0.80 $ 0.84
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
Low.............................................. $39.99 $ 40.16 $ 40.83 $ 30.03
High ............................................. $53.48 $ 49.69 $ 49.97 $ 49.20
2007
Net revenue .......................................... $25,082 $25,534 $25,377 $28,293
Cost of sales(1) ......................................... 19,136 19,283 19,164 21,304
Research and development ................................. 877 903 917 914
Selling, general and administrative ............................ 2,908 3,044 3,002 3,272
Amortization of purchased intangible assets ...................... 201 212 183 187
In-process research and development charges ..................... 167 19 — 4
Restructuring charges .................................... (41) 453 (5) (20)
Pension curtailments and pension settlements, net .................. (9) (508) — —
Total costs and expenses ................................... 23,239 23,406 23,261 25,661
Earnings from operations .................................. 1,843 2,128 2,116 2,632
Interest and other, net .................................... 121 100 170 67
Earnings before taxes .................................... 1,964 2,228 2,286 2,699
Provision for taxes ...................................... 417 453 508 535
Net earnings .......................................... $1,547 $ 1,775 $ 1,778 $ 2,164
Net earnings per share:(2)
Basic ............................................. $ 0.57 $ 0.67 $ 0.68 $ 0.84
Diluted ............................................ $ 0.55 $ 0.65 $ 0.66 $ 0.81
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:
Low.............................................. $38.22 $ 38.67 $ 42.83 $ 46.01
High ............................................. $43.53 $ 43.13 $ 48.54 $ 52.87
(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.
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