Dell 2006 Annual Report Download - page 111
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Table of Contents
DELL INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
NOTE 12 — Unaudited Quarterly Results and Stock Prices
Unaudited Quarterly Results — The following tables present selected unaudited Consolidated Statements of Income data for
each quarter of Fiscal 2007:
Fiscal Year 2007(a)
First Second Third Fourth
Quarter Quarter Quarter Quarter
As As
Reported Restated
(in millions, except per share data)
Net revenue $ 14,216 $ 14,320 $ 14,211 $ 14,419 $ 14,470
Gross margin $ 2,472 $ 2,508 $ 2,138 $ 2,391 $ 2,479
Net income $ 762 $ 776 $ 480 $ 601 $ 726
Earnings per common share:
Basic $ 0.33 $ 0.34 $ 0.21 $ 0.27 $ 0.33
Diluted $ 0.33 $ 0.33 $ 0.21 $ 0.27 $ 0.32
Weighted-average shares outstanding:
Basic 2,297 2,297 2,264 2,229 2,230
Diluted 2,318 2,318 2,278 2,238 2,251
(a) Results for Fiscal 2007 include stock-based compensation expense due to the implementation of SFAS 123(R). Dell implemented SFAS 123(R)
using the modified prospective method effective February 4, 2006. See Note 6 of Notes to Consolidated Financial Statements for further
discussion.
The following tables present selected unaudited Consolidated Statements of Income data for each quarter of Fiscal 2006:
Fiscal Year 2006
First Second Third Fourth
Quarter Quarter(a) Quarter(b) Quarter
As As As As As As As As
Reported Restated Reported Restated Reported Restated Reported Restated
(in millions, except per share data)
Net revenue $ 13,386 $ 13,300 $ 13,428 $ 13,382 $ 13,911 $ 13,880 $ 15,183 $ 15,226
Gross margin $ 2,491 $ 2,452 $ 2,499 $ 2,431 $ 2,251 $ 2,265 $ 2,709 $ 2,743
Net income $ 934 $ 908 $ 1,020 $ 982 $ 606 $ 635 $ 1,012 $ 1,077
Earnings per common share:
Basic $ 0.38 $ 0.37 $ 0.42 $ 0.41 $ 0.25 $ 0.27 $ 0.43 $ 0.46
Diluted $ 0.37 $ 0.36 $ 0.41 $ 0.40 $ 0.25 $ 0.26 $ 0.43 $ 0.45
Weighted-average shares outstanding:
Basic 2,456 2,456 2,418 2,418 2,395 2,395 2,350 2,350
Diluted 2,515 2,515 2,478 2,478 2,435 2,435 2,375 2,375
(a) Results for the second quarter include the impact of an $85 million income tax benefit related to a revised estimate of taxes on the repatriation of
earnings under the American Jobs Creation Act of 2004.
(b) Results for the third quarter include charges of $421 million related to the cost of servicing certain OptiPlexTMsystems that include a vendor part
that failed to perform to Dell's specifications, workforce realignment, product rationalizations, excess facilities, and the write-off of goodwill.
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