Medtronic 2008 Annual Report Download - page 5

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Financial Highlights
Fiscal Year
(dollars in millions, except per share data or where noted) 2004 2005 2006 2007 2008
Net sales $ 9,087 $ 10,055 $ 11,292 $ 12,299 $ 13,515
Net earnings 1,959 1,804 2,547 2,802 2,231
Special, restructuring, certain litigation and in-process research and development
(IPR&D) charges, and certain tax adjustments(1) (net of income taxes) 38 467 136 (5) 742
Net earnings excluding special, restructuring, certain litigation
and IPR&D charges, and certain tax adjustments 1,997 2,271 2,683 2,797 2,973
Diluted earnings per share, as reported 1.60 1.48 2.09 2.41 1.95
Special, restructuring, certain litigation and IPR&D charges, and
certain tax adjustments per diluted share 0.03 0.38 0.11 — 0.65
Diluted earnings per share excluding special, restructuring, certain
litigation and IPR&D charges, and certain tax adjustments 1.63 1.86 2.20 2.41 2.60
Dividends per share 0.29 0.34 0.39 0.44 0.50
Return on equity 23.1% 18.5% 25.7% 27.5% 19.8
%
Research and development expense $ 852 $ 951 $ 1,113 $ 1,239 $ 1,275
Closing stock price 50.46 52.70 50.12 53.60 49.42
(1) See Notes 2, 3, 4 and 12 to the consolidated financial statements for further discussion.
*Compound Annual Growth Rate
Net Sales
(dollars in billions)
’04 ’05 ’06 ’07 ’08
5-year CAGR* 12.0%
0
3
6
9
12
$15
Research and
Development Expense
(dollars in billions)
’04 ’05 ’06 ’07 ’08
5-year CAGR* 11.2%
0
0.3
0.6
0.9
1.2
$1.5
Closing Stock Price
(in dollars)
’04 ’05 ’06 ’07 ’08
5-year CAGR* 0.6%
0
10
20
30
40
50
$60
Excluding special, restructuring,
certain litigation, and IPR&D
charges, and certain tax
adjustments
As reported
5-year CAGR* for diluted earnings per
share, as reported 8.4%
5-year CAGR* for diluted earnings per
share, excluding special, restructuring,
certain litigation and IPR&D charges,
and certain tax adjustments 13.2%
Diluted Earnings Per Share
(in dollars)
’04 ’05 ’06 ’07 ’08
0
0.50
1.00
1.50
2.00
2.50
$3.00
1