HP 2014 Annual Report Download - page 178

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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Quarterly Summary
(Unaudited)
(In millions, except per share amounts)
For the three-month fiscal periods
ended in fiscal 2014
January 31 April 30 July 31 October 31
Net revenue ....................................... $28,154 $27,309 $27,585 $28,406
Cost of sales(1) ..................................... 21,736 20,704 20,974 21,425
Research and development ............................. 811 873 887 876
Selling, general and administrative ........................ 3,210 3,391 3,388 3,364
Amortization of intangible assets ......................... 283 264 227 226
Restructuring charges ................................ 114 252 649 604
Acquisition-related charges ............................. 3 3 2 3
Total costs and expenses .............................. 26,157 25,487 26,127 26,498
Earnings from operations .............................. 1,997 1,822 1,458 1,908
Interest and other, net ................................ (163) (174) (145) (146)
Earnings before taxes ................................ 1,834 1,648 1,313 1,762
Provision for taxes .................................. (409) (375) (328) (432)
Net earnings ...................................... $ 1,425 $ 1,273 $ 985 $ 1,330
Net earnings per share:(2)
Basic .......................................... $ 0.75 $ 0.67 $ 0.53 $ 0.71
Diluted ........................................ $ 0.74 $ 0.66 $ 0.52 $ 0.70
Cash dividends paid per share .......................... $ 0.15 $ 0.15 $ 0.16 $ 0.16
Range of per share stock prices on the New York Stock Exchange
Low........................................... $24.50 $ 27.89 $ 31.21 $ 31.62
High .......................................... $30.13 $ 33.90 $ 36.21 $ 38.25
For the three-month fiscal 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
(1) Cost of products, cost of services and financing interest.
(2) Net 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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