Qualcomm 2004 Annual Report Download - page 58

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QUALCOMM 54
Consolidated Statements of Operations
Years Ended September 30,
(In millions, except per share data) 2004 2003* 2002*
Revenues:
Equipment and services $3,514 $2,862 $2,080
Licensing and royalty fees 1,366 985 835
4,880 3,847 2,915
Operating expenses:
Cost of equipment and services revenues 1,484 1,268 954
Research and development 720 523 452
Selling, general and administrative 568 471 401
Amortization of goodwill and other acquisition-related intangible assets (Note 1) 5 8 259
Asset impairment charges —34—
Other (26) (30) 9
Total operating expenses 2,751 2,274 2,075
Operating income 2,129 1,573 840
Investment income (expense), net (Note 5) 184 (8) (218)
Income from continuing operations before income taxes 2,313 1,565 622
Income tax expense (588) (536) (97)
Income from continuing operations 1,725 1,029 525
Discontinued operations (Note 11):
Loss from discontinued operations before income taxes (10) (280) (160)
Income tax benefit (expense) 5 78 (5)
Loss from discontinued operations (5) (202) (165)
Net income $1,720 $ 827 $ 360
Basic earnings per common share from continuing operations $ 1.07 $ 0.65 $ 0.34
Basic loss per common sharefrom discontinued operations (0.01) (0.13) (0.11)
Basic earnings per common share $ 1.06 $ 0.52 $ 0.23
Diluted earnings per common share from continuing operations $ 1.03 $ 0.63 $ 0.32
Diluted loss per common share from discontinued operations — (0.12) (0.10)
Diluted earnings per common share $ 1.03 $ 0.51 $ 0.22
Shares used in per share calculations:
Basic 1,616 1,579 1,542
Diluted 1,675 1,636 1,619
Dividends per share announced $0.190 $0.085 —
*As adjusted (Note 11).
See accompanying notes.