Cisco 2005 Annual Report Download - page 37

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40
 July 30, 2005      
NET SALES:
 $ 20,853   
 3,948    
 24,801   
COST OF SALES:  
 6,758    
 1,372    
 8,130    
GROSS MARGIN 16,671   
OPERATING EXPENSES:  
 3,322    
 4,721    
 959    
 227    
 26  
 9,255    
OPERATING INCOME 7,416    
 552    
 68    
 620    
INCOME BEFORE PROVISION FOR INCOME TAXES AND CUMULATIVE
EFFECT OF ACCOUNTING CHANGE 8,036    
 2,295    
INCOME BEFORE CUMULATIVE EFFECT OF ACCOUNTING CHANGE 5,741    
 —   
NET INCOME $ 5,741   
 $ 0.88     
 $ 0.87     
 $ 0.88     
 $ 0.87     
 6,487    
 6,612    
See Notes to Consolidated Financial Statements.
Consolidated Statements of Operations
(in millions, except per-share amounts)