Financial Summary (All financials)
In millions, except per share items | Dec-31-11 | Dec-31-10 | Dec-31-09 |
Revenues | 6,642 | 5,402 | 3,954 |
Revenue growth | 23.0% | 36.6% | |
Cost of goods sold | 2,629 | 3,258 | 3,437 |
Gross profit | 4,013 | 2,144 | 517 |
Gross margin | 60.4% | 39.7% | 13.1% |
Sales and marketing | 9 | 14 | 10 |
General and administrative | 287 | 228 | 158 |
EBIT | 2,674 | 1,810 | 908 |
EBIT margin | 40.3% | 33.5% | 23.0% |
Pre-tax income | 2,559 | 1,655 | 960 |
Income taxes | -705 | -255 | 33 |
Tax rate | | | 3.4% |
Net income | 1,294 | 45 | -870 |
Net margin | 19.5% | 0.8% | -22.0% |
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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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