Intel 1997 Annual Report Download - page 39

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Intel Corporation 1997
See accompanying notes.
Consolidated
statements of income
Three years ended December 27, 1997
(In millions-except
per share amounts) 1997 1996 1995
--------------------------------------------------------------------------------
Net revenues $ 25,070 $ 20,847 $ 16,202
-------- -------- --------
Cost of sales 9,945 9,164 7,811
Research and development 2,347 1,808 1,296
Marketing, general and
administrative 2,891 2,322 1,843
-------- -------- --------
Operating costs and expenses 15,183 13,294 10,950
-------- -------- --------
Operating income 9,887 7,553 5,252
Interest expense (27) (25) (29)
Interest income and other, net 799 406 415
-------- -------- --------
Income before taxes 10,659 7,934 5,638
Provision for taxes 3,714 2,777 2,072
-------- -------- --------
Net income $ 6,945 $ 5,157 $ 3,566
======== ======== ========
Basic earnings per common share $ 4.25 $ 3.13 $ 2.16
======== ======== ========
Diluted earnings per common share $ 3.87 $ 2.90 $ 2.02
======== ======== ========
Weighted average common shares
outstanding 1,635 1,645 1,650
Dilutive effect of:
Employee stock options 102 94 96
1998 Step-Up Warrants 58 37 22
-------- -------- --------
Weighted average common shares
outstanding,
assuming dilution 1,795 1,776 1,768
======== ======== ========