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93
ibm annual report 2004
Selected Quarterly Data
(Dollars in millions
except per share amounts and stock prices)
First Second Third Fourth Full
2004:Quarter Quarter Quarter Quarter Year
Revenue $«22,175* $«23,098* $«23,349* $«27,671 $«96,293*
Gross profit 8,009 8,525 8,646 10,852 36,032
Income from continuing
operations 1,603 1,990 1,800 3,055 8,448
Loss from discontinued
operations (1) (2) — (15) (18)
Net income 1,602 1,988 1,800 3,040 8,430
Earnings/(loss) per share of
common stock:
Assuming dilution:
Continuing operations 0.93 1.16 1.06 1.81 4.94**
Discontinued operations — — — (0.01) (0.01)
Total 0.93 1.16 1.06 1.80 4.93**
Basic:
Continuing operations 0.95 1.18 1.08 1.84 5.04**
Discontinued operations — — — (0.01) (0.01)
Total 0.95 1.18 1.08 1.83 5.03**
Dividends per share of
common stock 0.16 0.18 0.18 0.18 0.70
Stock prices++:
High $«100.43 $«««94.55 $«««88.44 $«««99.00
Low 89.01 85.12 81.90 84.29
(Dollars in millions
except per share amounts and stock prices)
First Second Third Fourth Full
2003:Quarter Quarter Quarter Quarter Year
Revenue $«20,065 $«21,631 $«21,522 $«25,913 $«89,131
Gross profit 7,233 7,998 7,812 9,975 33,018
Income from continuing
operations 1,387 1,725 1,785 2,716 7,613
Loss from discontinued
operations (3) (20) — (7) (30)
Net income 1,384 1,705 1,785 2,709 7,583
Earnings/(loss) per share of
common stock:
Assuming dilution:
Continuing operations 0.79 0.98 1.02 1.56 4.34**
Discontinued operations — (0.01) — — (0.02) **
Total 0.79 0.97 1.02 1.55+ 4.32**
Basic:
Continuing operations 0.80 1.00 1.04 1.59 4.42**
Discontinued operations — (0.01) — — (0.02) **
Total 0.80 0.99 1.04 1.59 4.40**
Dividends per share of
common stock 0.15 0.16 0.16 0.16 0.63
Stock prices++:
High $«««88.95 $«««90.40 $«««93.47 $«««94.54
Low 73.17 78.12 78.73 87.53
*See page12, “Subsequent Event” for additional information regarding 2004 quarterly revenue.
** Earnings Per Share (EPS) in each quarter is computed using the weighted-average number of shares outstanding dur-
ing that quarter while EPS for the full year is computed using the weighted-average number of shares outstanding
during the year. Thus, the sum of the four quarters’ EPS does not equal the full-year EPS.
+Does not total due to rounding.
++ The stock prices reflect the high and low prices for IBM’s common stock on the New York Stock Exchange composite
tape for the last two years.