|
INCOME STATEMENTS
|
|
|
|
|
|
(In
millions, except earnings per share)
|
|
|
|
|
|
Year
Ended June 30
|
2001
|
2002
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|
2003
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|
|
|
|
|
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Revenue
|
$ 25,296
|
$ 28,365
|
|
$ 32,187
|
|
Operating expenses:
|
|
|
|
|
|
Cost of revenue
|
3,455
|
5,191
|
|
5,686
|
|
Research and development
|
4,379
|
4,307
|
|
4,659
|
|
Sales and marketing
|
4,885
|
5,407
|
|
6,521
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|
General and administrative
|
857
|
1,550
|
|
2,104
|
|
Total operating expenses
|
13,576
|
16,455
|
|
18,970
|
|
Operating income
|
11,720
|
11,910
|
|
13,217
|
|
Losses on equity investees and other
|
(159)
|
(92)
|
|
(68)
|
|
Investment income/(loss)
|
(36)
|
(305)
|
|
1,577
|
|
Income before income taxes
|
11,525
|
11,513
|
|
14,726
|
|
Provision for income taxes
|
3,804
|
3,684
|
|
4,733
|
|
Income before accounting change
|
7,721
|
7,829
|
|
9,993
|
|
Cumulative effect of accounting change (net of income
taxes of $185)
|
(375)
|
-
|
|
-
|
|
Net income
|
$ 7,346
|
$ 7,829
|
|
$ 9,993
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|
|
|
|
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Basic earnings per share(1):
|
|
|
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Before accounting change
|
$ 0.72
|
$ 0.72
|
|
$ 0.93
|
|
Cumulative effect of accounting change
|
(0.03)
|
-
|
|
-
|
|
|
$ 0.69
|
$ 0.72
|
|
$ 0.93
|
|
|
|
|
|
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Diluted earnings per share(1):
|
|
|
|
|
|
Before accounting change
|
$ 0.69
|
$ 0.70
|
|
$ 0.92
|
|
Cumulative effect of accounting change
|
(0.03)
|
-
|
|
-
|
|
|
$ 0.66
|
$ 0.70
|
|
$ 0.92
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|
|
|
|
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Weighted average shares outstanding(1):
|
|
|
|
|
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Basic
|
10,683
|
10,811
|
|
10,723
|
|
Diluted
|
11,148
|
11,106
|
|
10,882
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(1) Earnings per share and weighted average shares outstanding have been
restated to reflect a two-for-one stock split in February 2003.
See accompanying notes.
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