Seagate 2005 Annual Report Download - page 117

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Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
15. Supplementary Financial Data (Unaudited)
Quarterly Data
The results for the first quarter of fiscal year 2006 include approximately $16 million of stock-based compensation expense as a result of
the Company’s adoption of SFAS 123(R) and $4 million in restructuring costs. The results for the second quarter include approximately $20
million of stock-based compensation expense. The results for the third quarter include approximately $21 million of stock-based compensation
expense. The results for the fourth quarter include approximately $17 million of stock-based compensation expense, Maxtor’s operating losses
from May 19, 2006 through June 30, 2006 and related charges related to our acquisition of Maxtor Corporation which include $38 million in
integration and retention costs, net of related tax effects, $24 million in amortization of intangibles and $16 million in stock-based
compensation charges related to Maxtor options assumed and nonvested shares exchanged.
The results for the first quarter of fiscal year 2005 include a $14 million reduction in operating expenses related to the reduction in
accrued benefit obligations associated with the Company’s post-retirement medical plan. The results for the fourth quarter include
approximately $10 million in income from the settlement of a litigation matter.
114
Fiscal Year 2006
Unaudited, in millions except per share data
1st
2nd
3rd
4th
Revenue
$
2,088
$
2,300
$
2,289
$
2,529
Gross margin
535
591
556
454
Income from operations
265
284
253
72
Net income
272
287
274
7
Net income per share:
Basic
$
0.57
$
0.60
$
0.56
$
0.01
Diluted
0.54
0.57
0.53
0.01
Fiscal Year 2005
Unaudited, in millions except per share data
1st
2nd
3rd
4th
Revenue
$
1,558
$
1,847
$
1,969
$
2,179
Gross margin
275
380
477
540
Income from operations
57
147
237
281
Net income
54
144
229
280
Net income per share:
Basic
$
0.12
$
0.31
$
0.49
$
0.59
Diluted
0.11
0.29
0.45
0.55