Qualcomm 2005 Annual Report Download - page 39
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The following balance sheet data and statements of operations data for the fi ve years ended September 25, 2005, September 26, 2004, September
28, 2003, September 29, 2002 and September 30, 2001 were derived from our audited consolidated fi nancial statements. Consolidated balance
sheets at September 25, 2005 and September 26, 2004 and the related consolidated statements of operations and of cash fl ows for fi scal
2005, 2004 and 2003 and notes thereto appear elsewhere herein. The data should be read in conjunction with the annual consolidated fi nancial
statements, related notes and other fi nancial information appearing elsewhere herein.
Years Ended(1)
Sept. 25, Sept. 26, Sept. 28, Sept. 29, Sept. 30,
(in millions, except per share data) 2005 2004(2)(5) 2003(2) 2002(2) 2001(1)(3)
Statement of Operations Data:
Revenues $ 5,673 $ 4,880 $3,847 $2,915 $2,680
Operating income 2,386 2,129 1,573 840 39
Income (loss) from continuing operations before accounting change 2,143 1,725 1,029 525 (560)
Discontinued operations, net of tax — (5) (202) (165) —
Accounting changes, net of tax — — — — (18)
Net income (loss) $ 2,143 $ 1,720 $ 827 $ 360 $ (578)
Basic earnings (loss) per common share:(4)
Income (loss) from continuing operations before accounting change $ 1.31 $ 1.07 $ 0.65 $ 0.34 $ (0.37)
Discontinued operations, net of tax — (0.01) (0.13) (0.11) —
Accounting change, net of tax — — — — (0.01)
Net income (loss) $ 1.31 $ 1.06 $ 0.52 $ 0.23 $ (0.38)
Diluted earnings (loss) per common share:(4)
Income (loss) from continuing operations before accounting change $ 1.26 $ 1.03 $ 0.63 $ 0.32 $ (0.37)
Discontinued operations, net of tax — — (0.12) (0.10) —
Accounting change, net of tax — — — — (0.01)
Net income (loss) $ 1.26 $ 1.03 $ 0.51 $ 0.22 $ (0.38)
Dividends per share announced $ 0.320 $ 0.190 $ 0.085 — —
Shares used in earnings per share calculations:(4)
Basic 1,638 1,616 1,579 1,542 1,512
Diluted 1,694 1,675 1,636 1,619 1,512
Balance Sheet Data:
Cash, cash equivalents and marketable securities $ 8,681 $ 7,635 $5,372 $3,200 $2,581
Total assets 12,479 10,820 8,822 6,506 5,670
Long-term debt — — 123 94 —
Total stockholders’ equity 11,119 9,664 7,598 5,392 4,812
(1) Our fi scal year ends on the last Sunday in September. As a result, fi scal 2001 included 53 weeks.
(2) During fi scal 2004, we sold our consolidated subsidiaries, the Vésper Operating Companies and TowerCo, and returned personal mobile service (SMP) licenses to
Anatel, the telecommunications regulatory agency in Brazil. The results of operations, including gains and losses realized on the sales transactions and the SMP
licenses, are presented as discontinued operations.
(3) During fi scal 2001, we accounted for our investment in the Vésper Operating Companies under the equity method of accounting and recorded $150 million in equity
in losses of those entities in income (loss) from continuing operations before accounting change.
(4) We effected a two-for-one stock split in August 2004. All references to number of shares and per share amounts refl ect this stock split.
(5) Prior to the fourth quarter of fi scal 2004, we recorded royalty revenues from certain licensees based on our estimates of royalties during the period they were
earned. Starting in the fourth quarter of fi scal 2004, we began recognizing royalty revenues solely based on royalties reported by licensees during the quarter. The
change in the timing of recognizing royalty revenue was made prospectively and had the initial one-time effect of reducing royalty revenues recorded in the fourth
quarter of fi scal 2004. See Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Annual Report for more information.
Selected Financial Data