Medtronic 2009 Annual Report Download - page 5

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*Compound Annual Growth Rate
Net Sales
(dollars in billions)
’05 ’06 ’07 ’08 ’09
5-year CAGR* 9.9%
0
3
6
9
12
$15
Research and
Development Expense
(dollars in billions)
’05 ’06 ’07 ’08 ’09
5-year CAGR* 9.7%
0
0.3
0.6
0.9
1.2
$1.5
Closing Stock Price
(in dollars)
’05 ’06 ’07 ’08 ’09
5-year CAGR* (10.1)%
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 3.8%
5-year CAGR* for diluted earnings per
share, excluding special, restructuring,
certain litigation and IPR&D charges
and certain tax adjustments 12.4%
Diluted Earnings Per Share
(in dollars)
’05 ’06 ’07 ’08 ’09
0
0.50
1.00
1.50
2.00
2.50
$3.00
Financial Highlights
Fiscal Year
(dollars in millions, except per share data) 2005 2006 2007 2008 2009
Net sal es $ 10,055 $ 11,292 $ 12,299 $ 13,515 $ 14,599
Net earnings 1,804 2,547 2,802 2,231 2,169(2)
Special, restructuring, certain litigation and in-process research and development
(IPR&D) charges and certain tax adjustments(1) (net of income taxes) 467 136 (5) 742 1,114
Net earnings excluding special, restructuring, certain litigation and IPR&D
charges and certain tax adjustments 2,271 2,683 2,797 2,973 3,283(2)
Diluted earnings per share, as reported 1.48 2.09 2.41 1.95 1.93(2)
Special, restructuring, certain litigation and IPR&D charges and certain tax
adjustments per diluted share 0.38 0.11 — 0.65 0.99
Diluted earnings per share excluding special, restructuring, certain litigation
and IPR&D charges and certain tax adjustments 1.86 2.20 2.41 2.60 2.92(2)
Dividends per share 0.34 0.39 0.44 0.50 0.75
Return on equity 18.5% 25.7% 27.5% 19.8% 17.8%
Research and development expense $ 951 $ 1,113 $ 1,239 $ 1,275 $ 1,355
Closing stock price 52.70 50.12 53.60 49.42 29.58
(1) See Notes 2, 3, 4 and 13 to the consolidated financial statements for further discussion.
(2) Net earnings and diluted earnings per share decreased by 3 percent and 1 percent, respectively, over the prior year. After adjusting for the impact due to special,
restructuring, certain litigation and IPR&D charges and certain tax adjustments, adjusted net earnings and diluted earnings per share increased 10 percent and
12 percent, respectively, over the prior year.
1