Raytheon 2004 Annual Report Download - page 112

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94
Notes to Consolidated Financial Statements (Continued)
NOTE P
:
QUARTERLY OPERATING RESULTS
(
UNAUDITED
)
(In millions except per share amounts and stock prices)
2004 First Second Third Fourth
Net sales $4,676 $4,929 $4,936 $5,704
Gross margin 692 824 819 977
Income (loss) from continuing operations 101 (94) 186 246
Income (loss) before accounting change 87 (108) 152 245
Net income (loss) 128 (108) 152 245
Earnings (loss) per share from continuing operations
Basic $ 0.24 $ (0.22) $ 0.41 $ 0.55
Diluted 0.24 (0.22) 0.41 0.54
Earnings (loss) per share before accounting change
Basic 0.21 (0.25) 0.34 0.54
Diluted 0.21 (0.25) 0.34 0.54
Earnings (loss) per share
Basic 0.31 (0.25) 0.34 0.54
Diluted 0.30 (0.25) 0.34 0.54
Cash dividends per share
Declared 0.20 0.20 0.20 0.20
Paid 0.20 0.20 0.20 0.20
Common stock prices
High $32.35 $35.48 $37.17 $41.89
Low 29.28 30.73 31.91 34.84
2003 First Second Third Fourth
Net sales $4,201 $4,429 $4,378 $5,101
Gross margin 721 859 602 927
Income from continuing operations 111 186 21 217
Net income (loss) 95 100 (35) 205
Earnings per share from continuing operations
Basic $ 0.27 $ 0.45 $ 0.05 $ 0.52
Diluted 0.27 0.45 0.05 0.52
Earnings (loss) per share
Basic 0.23 0.24 (0.08) 0.49
Diluted 0.23 0.24 (0.08) 0.49
Cash dividends per share
Declared 0.20 0.20 0.20 0.20
Paid 0.20 0.20 0.20 0.20
Common stock prices
High $32.09 $33.69 $33.97 $30.24
Low 24.31 27.15 27.74 25.45
Note: Earnings per share are computed independently for each of the quarters presented, therefore, the sum of
the quarterly earnings per share may not equal the total computed for the year.