Seagate 2004 Annual Report Download - page 67

Download and view the complete annual report

Please find page 67 of the 2004 Seagate annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

Table of Contents
SEAGATE TECHNOLOGY
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share data)
See notes to consolidated financial statements.
64
Fiscal
Year Ended
July 1,
2005
Fiscal
Year Ended
July 2,
2004
Fiscal
Year Ended
June 27,
2003
$
7,553
$
6,224
$
6,486
Cost of revenue
5,880
4,765
4,759
Product development
645
666
670
Marketing and administrative
306
290
357
Restructuring, net
—
59
9
Total operating expenses
6,831
5,780
5,795
Income from operations
722
444
691
Interest income
36
17
16
Interest expense
(48
)
(45
)
(47
)
Other, net
22
12
—
Other income (expense), net
10
(16
)
(31
)
Income before income taxes
732
428
660
Provision for (benefit from) income taxes
25
(101
)
19
Net income
$
707
$
529
$
641
Net income per share:
Basic
$
1.51
$
1.17
$
1.53
Diluted
1.41
1.06
1.36
Number of shares used in per share calculations:
Basic
468
452
418
Diluted
502
498
470
Cash dividends declared per share
$
0.26
$
0.20
$
0.71