IBM 2011 Annual Report Download - page 143

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141
Selected Quarterly Data
International Business Machines Corporation and Subsidiary Companies
($ in millions except per share amounts and stock prices)
2011
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Ye a r
Revenue $24,607 $26,666 $26,157 $29,486 $106,916
Gross profit $10,858 $12,385 $12,173 $14,722 $ 50,138
Net income $ 2,863 $ 3,664 $ 3,839 $ 5,490 $ 15,855
Operating (non-GAAP) earnings* $ 2,990 $ 3,777 $ 3,954 $ 5,597 $ 16,318
Earnings per share of common stock
Assuming dilution $ 2.31 $ 3.00 $ 3.19 $ 4.62 $ 13.06**
Basic $ 2.34 $ 3.04 $ 3.23 $ 4.68 $ 13.25**
Diluted operating (non-GAAP)* $ 2.41 $ 3.09 $ 3.28 $ 4.71 $ 13.44**
Dividends per share of common stock $ 0.65 $ 0.75 $ 0.75 $ 0.75 $ 2.90
Stock prices+
High $166.05 $172.87 $185.21 $194.56
Low 147.05 162.33 157.54 173.29
($ in millions except per share amounts and stock prices)
2010
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Full
Ye a r
Revenue $22,857 $23,724 $24,271 $29,019 $99,870
Gross profit $ 9,976 $10,809 $11,001 $14,227 $46,014
Net income $ 2,601 $ 3,386 $ 3,589 $ 5,257 $14,833
Operating (non-GAAP) earnings* $ 2,638 $ 3,402 $ 3,628 $ 5,354 $15,023
Earnings per share of common stock
Assuming dilution $ 1.97 $ 2.61 $ 2.82 $ 4.18 $ 11.52**
Basic $ 2.00 $ 2.65 $ 2.86 $ 4.24 $ 11.69**
Diluted operating (non-GAAP)* $ 2.00 $ 2.62 $ 2.85 $ 4.25 $ 11.67**
Dividends per share of common stock $ 0.55 $ 0.65 $ 0.65 $ 0.65 $ 2.50
Stock prices+
High $134.14 $132.68 $135.48 $146.92
Low 121.88 122.10 121.86 135.25
*
Refer to pages 61 and 62 of the company’s first-quarter 2011 Form 10-Q filed on April 26, 2011, pages 72 and 73 of the company’s second-quarter 2011 Form 10-Q filed on July 26, 2011,
page 73 of the company’s third-quarter 2011 Form 10-Q filed on October 25, 2011 and page 43 under the heading “GAAP Reconciliation,” for the reconciliation of non-GAAP
information for the quarterly data for 2011 and 2010. Also see “GAAP Reconciliation,” on page 38 for the reconciliation of non-GAAP financial information for full-year 2011 and 2010.
**
Earnings Per Share (EPS) in each quarter is computed using the weighted-average number of shares outstanding during 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.
+ 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.