HP 2013 Annual Report Download - page 173

HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Quarterly Summary
(Unaudited)
(In millions, except per share amounts)
Three-month periods ended in fiscal 2013
January 31 April 30 July 31 October 31
Net revenue ........................................ $28,359 $27,582 $27,226 $29,131
Cost of sales(1) ....................................... 22,029 21,055 20,859 22,437
Research and development ............................... 794 815 797 729
Selling, general and administrative .......................... 3,300 3,342 3,274 3,351
Amortization of intangible assets ........................... 350 350 356 317
Restructuring charges .................................. 130 408 81 371
Acquisition-related charges ............................... 4 11 4 3
Total costs and expenses ................................. 26,607 25,981 25,371 27,208
Earnings from operations ................................ 1,752 1,601 1,855 1,923
Interest and other, net .................................. (179) (193) (146) (103)
Earnings before taxes .................................. 1,573 1,408 1,709 1,820
Provision for taxes .................................... (341) (331) (319) (406)
Net earnings ........................................ $1,232 $ 1,077 $ 1,390 $ 1,414
Net earnings per share:(2)
Basic ............................................ $ 0.63 $ 0.56 $ 0.72 $ 0.74
Diluted .......................................... $ 0.63 $ 0.55 $ 0.71 $ 0.73
Cash dividends paid per share ............................. $ 0.13 $ 0.13 $ 0.15 $ 0.15
Range of per share stock prices on the New York Stock Exchange
Low ............................................ $11.35 $ 16.03 $ 20.15 $ 20.25
High ............................................ $17.45 $ 24.05 $ 26.71 $ 27.78
Three-month periods ended in fiscal 2012
January 31 April 30 July 31 October 31
Net revenue ........................................ $30,036 $30,693 $29,669 $29,959
Cost of sales(1) ....................................... 23,313 23,541 22,820 22,711
Research and development ............................... 786 850 854 909
Selling, general and administrative .......................... 3,367 3,540 3,366 3,227
Amortization of intangible assets ........................... 466 470 476 372
Impairment of goodwill and intangible assets ................... — — 9,188 8,847
Restructuring charges .................................. 40 53 1,795 378
Acquisition-related charges ............................... 22 17 3 3
Total costs and expenses ................................. 27,994 28,471 38,502 36,447
Earnings (loss) from operations ............................ 2,042 2,222 (8,833) (6,488)
Interest and other, net .................................. (221) (243) (224) (188)
Earnings (loss) before taxes .............................. 1,821 1,979 (9,057) (6,676)
(Provision) benefit for taxes .............................. (353) (386) 200 (178)
Net earnings (loss) .................................... $1,468 $ 1,593 $ (8,857) $ (6,854)
Net earnings (loss) per share:(2)
Basic ............................................ $ 0.74 $ 0.80 $ (4.49) $ (3.49)
Diluted .......................................... $ 0.73 $ 0.80 $ (4.49) $ (3.49)
Cash dividends paid per share ............................. $ 0.12 $ 0.12 $ 0.13 $ 0.13
Range of per share stock prices on the New York Stock Exchange
Low ............................................ $25.02 $ 22.85 $ 17.73 $ 13.80
High ............................................ $28.88 $ 30.00 $ 25.40 $ 20.26
(1) Cost of products, cost of services and financing interest.
(2) EPS for each quarter is computed using the weighted-average number of shares outstanding during that quarter,
while EPS for the fiscal year is computed using the weighted-average number of shares outstanding during the year.
Thus the sum of the EPS for each of the four quarters may not equal the EPS for the fiscal year.
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