Financial Summary (All financials)
In millions, except per share items | Dec-31-10 | Dec-31-09 | Dec-31-08 | Dec-31-07 | Dec-31-06 | Dec-31-05 | Dec-31-04 | Dec-31-03 |
Revenues | 2,811.1 | 2,192.3 | 1,974.6 | | 1,764.1 | 1,211.9 | 1,015.4 | 714.8 |
Revenue growth | 28.2% | 11.0% | | | 45.6% | 19.3% | 42.1% | 41.0% |
Cost of goods sold | 577.9 | 398.8 | 412.2 | | 338.8 | 221.9 | 120.0 | 92.4 |
Gross profit | 2,233.2 | 1,793.5 | 1,562.3 | | 1,425.3 | 990.0 | 895.5 | 622.4 |
Gross margin | 79.4% | 81.8% | 79.1% | | 80.8% | 81.7% | 88.2% | 87.1% |
Selling, general and administrative | 958.4 | 822.1 | 840.9 | | 689.5 | 454.5 | 339.5 | 254.1 |
Research and development | 440.0 | 395.4 | 362.2 | | | | | |
EBIT | 834.8 | 576.0 | 359.2 | | 311.6 | 164.7 | 229.2 | 156.0 |
EBIT margin | 29.7% | 26.3% | 18.2% | | 17.7% | 13.6% | 22.6% | 21.8% |
Pre-tax income | 618.8 | 289.4 | 134.1 | | 238.3 | -245.1 | -28.2 | 130.3 |
Income taxes | 201.1 | 78.7 | -37.8 | | 93.4 | -70.2 | 45.6 | 46.5 |
Tax rate | 32.5% | 27.2% | | | 39.2% | 28.6% | | 35.6% |
Net income | 425.7 | 342.6 | 193.0 | | 144.8 | -175.0 | -73.8 | 83.9 |
Net margin | 15.1% | 15.6% | 9.8% | | 8.2% | -14.4% | -7.3% | 11.7% |
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Diluted EPS | $5.27 | $4.41 | $2.54 | | $2.39 | ($3.01) | ($1.31) | $1.51 |
Shares outstanding (diluted) | 80.7 | 77.7 | 76.1 | | 60.5 | 58.1 | 56.5 | 55.6 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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