Avis 2007 Annual Report Download - page 128

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Table of Contents
Provided below are selected unaudited quarterly financial data for 2007 and 2006.
The underlying diluted per share information is calculated from the weighted average common and common stock equivalents outstanding
during each quarter, which may fluctuate, based on quarterly income levels, market prices and share repurchases. Therefore, the sum of the
quarters’ per share information may not equal the total year amounts presented on the Consolidated Statements of Operations.
F
-
62
25.
Selected Quarterly Financial Data
—
(
unaudited)
2007
First
Second
Third
Fourth
Net revenues
$
1,365
$
1,516
$
1,719
$
1,386
Income (loss) from continuing operations
12
23
63
(1,045
)
Income (loss) from discontinued operations, net of tax
-
-
(3
)
1
Gain (loss) on disposal of discontinued operations, net of tax
1
1
43
(12
)
Net income (loss)
$
13
$
24
$
103
$
(1,056
)
Per share information:
Basic
Income (loss) from continuing operations
$
0.12
$
0.22
$
0.60
$
(10.05
)
Income (loss) from discontinued operations
-
-
(0.02
)
0.01
Gain (loss) on disposal of discontinued operations
0.01
0.01
0.42
(0.12
)
Net income (loss)
$
0.13
$
0.23
$
1.00
$
(10.16
)
Weighted average shares
101.6
103.4
103.9
104.0
Diluted
Income (loss) from continuing operations
$
0.12
$
0.22
$
0.60
$
(10.05
)
Income (loss) from discontinued operations
-
-
(0.02
)
0.01
Gain (loss) on disposal of discontinued operations
-
0.01
0.41
(0.12
)
Net income (loss)
$
0.12
$
0.23
$
0.99
$
(10.16
)
Weighted average shares
103.0
104.8
105.0
104.0
2006
First
Second
Third
Fourth
Net revenues
$
1,337
$
1,454
$
1,566
$
1,332
Income (loss) from continuing operations
(66
)
(64
)
(325
)
4
Income (loss) from discontinued operations, net of tax
215
317
(54
)
-
Loss on disposal of discontinued operations, net of tax
(15
)
(1,307
)
(634
)
(1
)
Cumulative effect of accounting change, net of tax
(64
)
-
-
-
Net income (loss)
$
70
$
(1,054
)
$
(1,013
)
$
3
Per share information:
Basic
Income (loss) from continuing operations
$
(0.66
)
$
(0.64
)
$
(3.23
)
$
0.04
Income (loss) from discontinued operations
2.14
3.17
(0.54
)
-
Loss on disposal of discontinued operations
(0.15
)
(13.05
)
(6.30
)
(0.02
)
Cumulative effect of accounting change
(0.63
)
-
-
-
Net income (loss)
$
0.70
$
(10.52
)
$
(10.07
)
$
0.02
Weighted average shares
100.6
100.1
100.6
101.1
Diluted
Income (loss) from continuing operations
$
(0.66
)
$
(0.64
)
$
(3.23
)
$
0.04
Income (loss) from discontinued operations
2.14
3.17
(0.54
)
-
Loss on disposal of discontinued operations
(0.15
)
(13.05
)
(6.30
)
(0.02
)
Cumulative effect of accounting change
(0.63
)
-
-
-
Net income (loss)
$
0.70
$
(10.52
)
$
(10.07
)
$
0.02
Weighted average shares
100.6
100.1
100.6
101.6