Dell 2011 Annual Report Download - page 62

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Table of Contents
DELL INC.
CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share amounts)
Fiscal Year Ended
February 3,
2012 January 28,
2011 January 29,
2010
Net revenue:
Products $ 49,906 $ 50,002 $ 43,697
Services, including software related 12,165 11,492 9,205
Total net revenue 62,071 61,494 52,902
Cost of net revenue:
Products 39,689 42,068 37,534
Services, including software related 8,571 8,030 6,107
Total cost of net revenue 48,260 50,098 43,641
Gross margin 13,811 11,396 9,261
Operating expenses:
Selling, general, and administrative 8,524 7,302 6,465
Research, development, and engineering 856 661 624
Total operating expenses 9,380 7,963 7,089
Operating income 4,431 3,433 2,172
Interest and other, net (191) (83) (148)
Income before income taxes 4,240 3,350 2,024
Income tax provision 748 715 591
Net income $ 3,492 $ 2,635 $ 1,433
Earnings per share:
Basic $ 1.90 $ 1.36 $ 0.73
Diluted $ 1.88 $ 1.35 $ 0.73
Weighted-average shares outstanding:
Basic 1,838 1,944 1,954
Diluted 1,853 1,955 1,962
The accompanying notes are an integral part of these consolidated financial statements.
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