ADT 2008 Annual Report Download - page 268

TYCO INTERNATIONAL LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
23. Summarized Quarterly Financial Data (Unaudited)
Summarized quarterly financial data for the years ended September 26, 2008 and September 28,
2007 is as follows ($ in millions, except per share data):
2008
1st Qtr.(1) 2nd Qtr.(2) 3rd Qtr.(3) 4th Qtr.(4)
Net revenue .................................. $4,837 $4,863 $5,215 $5,284
Gross profit .................................. 1,680 1,678 1,851 1,867
Income from continuing operations ................. 360 272 199 264
Income from discontinued operations, net of income taxes 3 8 277 170
Net income .................................. 363 280 476 434
Basic earnings per share:
Income from continuing operations ............... $ 0.73 $ 0.56 $ 0.41 $ 0.56
Income from discontinued operations, net of income
taxes ................................... 0.01 0.02 0.58 0.35
Net income ................................ 0.74 0.58 0.99 0.91
Diluted earnings per share:
Income from continuing operations ............... 0.72 0.56 0.41 0.55
Income from discontinued operations, net of income
taxes ................................... 0.01 0.01 0.57 0.36
Net income ................................ 0.73 0.57 0.98 0.91
(1) Net revenue excludes $425 million of revenue related to discontinued operations. Income from continuing operations
includes restructuring, asset impairment and divestiture charges, net of $14 million, and separation costs of $9 million.
(2) Net revenue excludes $418 million of revenue related to discontinued operations. Income from continuing operations
includes restructuring, asset impairment and divestiture charges, net of $42 million, a legacy legal settlement charge of
$20 million slightly offset by a $5 million credit related to separation costs.
(3) Net revenue excludes $264 million of revenue related to discontinued operations. Income from continuing operations
includes restructuring and asset impairment charges, net of $53 million and a legacy legal settlement charge of $9 million,
offset by a credit of $7 million for class action settlement recoveries.
(4) Net revenue excludes $114 million of revenue related to discontinued operations. Income from continuing operations
includes restructuring, asset impairment and divestiture charges, net of $139 million, goodwill impairment charges of
$9 million, an environmental remediation charge of $6 million related to the closure of a facility in North America, offset by
a credit of $3 million for class action settlement recoveries.
2008 Financials 165