Intel 1999 Annual Report Download - page 29
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Consolidated statements of income
Three years ended December 25, 1999
(In millions--except per share amounts)
See accompanying notes.
Page 14
1999 1998 1997
------- ------- -------
Net revenues $29,389 $26,273 $25,070
------- ------- -------
Cost of sales 11,836 12,088 9,945
Research and development 3,111 2,509 2,347
Marketing, general and administrative 3,872 3,076 2,891
Amortization of goodwill and other acquisition-related
intangibles 411 56 -
Purchased in-process research and
development 392 165 -
------- ------- -------
Operating costs and expenses 19,622 17,894 15,183
------- ------- -------
Operating income 9,767 8,379 9,887
Interest expense (36) (34) (27)
Interest income and other, net 1,497 792 799
------- ------- -------
Income before taxes 11,228 9,137 10,659
Provision for taxes 3,914 3,069 3,714
------- ------- -------
Net income $7,314 $6,068 $6,945
======= ======= =======
Basic earnings per common share $ 2.20 $ 1.82 $ 2.12
======= ======= =======
Diluted earnings per common share $ 2.11 $ 1.73 $ 1.93
======= ======= =======
Weighted average common shares
outstanding 3,324 3,336 3,271
======= ======= =======
Weighted average common shares
outstanding, assuming dilution 3,470 3,517 3,590
======= ======= =======