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Page 67
AMGEN 2002 ANNUAL REPORT
Note 16. Quarterly financial data (unaudited)
(In millions, except per share data)
2002 Quarter ended Dec. 31
(1)
Sept. 30
(2)
June 30 Mar. 31
Product sales $1,621.6 $ 1,345.8 $1,115.2 $908.6
Gross margin from product sales 1,347.8 1,119.4 983.3 805.0
Net income (loss) 456.4 (2,601.6) 412.4 340.9
Earnings (loss) per share:
Basic $ 0.35 $ (2.10) $ 0.40 $ 0.33
Diluted $ 0.34 $ (2.10) $ 0.38 $ 0.32
2001 Quarter ended Dec. 31
(3)
Sept. 30 June 30 Mar. 31
Product sales $ 974.1 $ 879.6 $ 858.9 $798.4
Gross margin from product sales 821.6 776.9 760.5 709.0
Net income 163.0 329.9 321.9 304.9
Earnings per share:
Basic $ 0.16 $ 0.31 $ 0.31 $ 0.29
Diluted $ 0.15 $ 0.30 $ 0.30 $ 0.28
(1)
In the fourth quarter of 2002, the Company recorded: 1) a gain from a legal award related to the Company’s arbitration with Johnson & Johnson of $151.2 million,
2) a contribution of $50 million to the Amgen Foundation, and 3) a benefit of $4.6 million related to finalizing the termination of certain collaboration agreements.
(2)
In the third quarter of 2002, the Company recorded: 1) a charge of $2,991.8 million to write-off the fair value of acquired IPR&D, and 2) a benefit of $35.5 million related
to finalizing the termination of certain collaboration agreements.
(3)
In the fourth quarter of 2001, the Company recorded a charge of $203.1 million, primarily related to the costs of terminating collaboration agreements with various third
parties, including Praecis and certain academic institutions. In addition, Amgen recorded a charge of $39.5 million, included in cost of sales, to write-off certain inven-
tory deemed not recoverable.
See Notes 1, 3, and 4 for further discussion of the items described above.