ADT 2007 Annual Report Download - page 258

TYCO INTERNATIONAL LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
24. Summarized Quarterly Financial Data (Unaudited) (Continued)
2006
1st Qtr.(1) 2nd Qtr.(2) 3rd Qtr.(3) 4th Qtr.(4)
Net revenue .................................. $4,077 $4,222 $4,421 4,616
Gross profit .................................. 1,407 1,470 1,440 1,592
Income from continuing operations ................. 149 189 159 326
Income from discontinued operations, net of income taxes 444 706 709 922
Cumulative effect of accounting change, net of income
taxes ..................................... (14) — — —
Net income .................................. 579 895 868 1,248
Basic earnings per share:
Income from continuing operations ............... $ 0.30 $ 0.37 $ 0.31 $0.65
Income from discontinued operations, net of income
taxes ................................... 0.89 1.40 1.41 1.85
Cumulative effect of accounting change, net of income
taxes ................................... (0.03) — — —
Net income ................................ 1.16 1.77 1.72 2.50
Diluted earnings per share:
Income from continuing operations ............... 0.29 0.37 0.31 0.64
Income from discontinued operations, net of income
taxes ................................... 0.86 1.35 1.37 1.81
Cumulative effect of accounting change, net of income
taxes ................................... (0.03) — — —
Net income ................................ 1.12 1.72 1.68 2.45
(1) Net revenue excludes $6,203 million of revenue related to discontinued operations. Income from continuing operations
includes net restructuring charges of $4 million, and divestiture-related losses of $3 million.
(2) Net revenue excludes $6,341 million of revenue related to discontinued operations. Income from continuing operations
includes separation costs of $13 million, net restructuring charges of $3 million, and divestiture-related gains of $2 million.
(3) Net revenue excludes $6,007 million of revenue related to discontinued operations. Income from continuing operations
includes the VRP charge of $100 million, separation costs of $19 million, net restructuring charges of $7 million, and
divestiture-related losses of $1 million.
(4) Net revenue excludes $6,246 million of revenue related to discontinued operations. Income from continuing operations
includes income from settlement with a former executive of $72 million, $48 million of income resulting from a reduction in
our estimated workers’ compensation liabilities primarily due to favorable claims experience, separation costs of $17 million,
and net restructuring credits of $1 million.
166 2007 Financials