Western Digital 2006 Annual Report Download - page 54

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WESTERN DIGITAL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share amounts)
June 30,
2006
July 1,
2005
July 2,
2004
Years Ended
(as adjusted) (as adjusted)
Revenue, net ........................................... $4,341.3 $3,638.8 $3,046.7
Cost of revenue ......................................... 3,512.5 3,049.2 2,585.3
Gross margin ......................................... 828.8 589.6 461.4
Operating expenses:
Research and development ............................... 297.2 239.8 201.8
Selling, general and administrative.......................... 165.7 155.1 106.1
Total operating expenses ............................... 462.9 394.9 307.9
Operating income ....................................... 365.9 194.7 153.5
Non-operating income:
Interest income ....................................... 19.5 8.7 2.4
Interest and other expense ................................ 3.7 3.3 2.1
Total non-operating income ............................. 15.8 5.4 0.3
Income before income taxes ................................ 381.7 200.1 153.8
Income tax (benefit) provision ............................... (12.9) 4.1 4.0
Net income ............................................ $ 394.6 $ 196.0 $ 149.8
Income per common share:
Basic . . ............................................. $ 1.84 $ .94 $ .73
Diluted ............................................. $ 1.76 $ .90 $ .69
Weighted average shares outstanding:
Basic . . ............................................. 215.0 207.6 205.7
Diluted ............................................. 223.6 216.9 216.7
The accompanying notes are an integral part of these consolidated financial statements.
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