Intel 1996 Annual Report Download - page 42

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1 Exhibit 13
Consolidated statements of income
Three years ended December 28, 1996
(In millions
-except per share amounts) 1996 1995 1994
- - --------------------------------------------------------------------------
Net revenues $20,847 $16,202 $11,521
------- ------- -------
Cost of sales 9,164 7,811 5,576
Research and development 1,808 1,296 1,111
Marketing, general and
administrative 2,322 1,843 1,447
------- ------- -------
Operating costs and expenses 13,294 10,950 8,134
------- ------- -------
Operating income 7,553 5,252 3,387
Interest expense (25) (29) (57)
Interest income and other, net 406 415 273
------- ------- -------
Income before taxes 7,934 5,638 3,603
Provision for taxes 2,777 2,072 1,315
------- ------- -------
Net income $5,157 $3,566 $2,288
======= ======= =======
Earnings per common and common
equivalent share $ 5.81 $ 4.03 $ 2.62
======= ======= =======
Weighted average common and
common equivalent shares
outstanding 888 884 874
======= ======= =======
See accompanying notes.