Extracted Text (may have errors)

seleCted quarterly data iNterNatioNal busiNess maChiNes CorporatioN aNd subsidiary CompaNies (Dollars in millions except per share amounts and stock prices) first second third foUrth fUll 2006: qUarter qUarter qUarter qUarter year Revenue $20,659 $21,890 $22,617 $26,257 $91,424 Gross profit $ 8,088 $ 9,014 $ 9,492 $11,701 $38,295 Income from continuing operations $ 1,708 $ 2,022 $ 2,222 $ 3,464 $ 9,416 Income from discontinued operations — — — 76 76 Net income $ 1,708 $ 2,022 $ 2,222 $ 3,541 $ 9,492 Earnings per share of common stock: Assuming dilution: Continuing operations $ 1.08 $ 1.30 $ 1.45 $ 2.26 $ 6.06* Discontinued operations — — — 0.05 0.05 Total $ 1.08 $ 1.30 $ 1.45 $ 2.31 $ 6.11* Basic: Continuing operations $ 1.09 $ 1.31 $ 1.47 $ 2.30 $ 6.15* Discontinued operations — — — 0.05 0.05 Total $ 1.09 $ 1.31 $ 1.47 $ 2.35 $ 6.20* Dividends per share of common stock $ 0.20 $ 0.30 $ 0.30 $ 0.30 $ 1.10 Stock prices:+ High $ 85.03 $ 84.45 $ 83.79 $ 97.88 Low 78.93 76.06 72.73 81.56 first second third foUrth fUll 2005: qUarter qUarter qUarter qUarter year Revenue $22,908 $22,270 $21,529 $24,427 $91,134 Gross profit $ 8,254 $ 8,775 $ 8,738 $10,765 $36,532 Income from continuing operations $ 1,407 $ 1,851 $ 1,516 $ 3,220 $ 7,994 (Loss)/income from discontinued operations (5) (22) — 3 (24) Income before cumulative effect of change in accounting principle 1,402 1,829 1,516 3,223 7,970 Cumulative effect of change in accounting principle** — — — (36) (36) Net income $ 1,402 $ 1,829 $ 1,516 $ 3,187 $ 7,934 Earnings/(loss) per share of common stock: Assuming dilution: Continuing operations $ 0.85 $ 1.14 $ 0.94 $ 2.01 $ 4.91* Discontinued operations — (0.01) — — (0.01) Before cumulative effect of change in accounting principle 0.84 1.12 0.94 2.01 4.90* Cumulative effect of change in accounting principle** — — — (0.02) (0.02) Total $ 0.84 $ 1.12 $ 0.94 $ 1.99 $ 4.87* Basic: Continuing operations $ 0.86 $ 1.15 $ 0.95 $ 2.04 $ 4.99* Discontinued operations — (0.01) — — (0.02)* Before cumulative effect of change in accounting principle 0.86 1.14 0.95 2.04 4.98* Cumulative effect of change in accounting principle** — — — (0.02) (0.02) Total $ 0.86 $ 1.14 $ 0.95 $ 2.02 $ 4.96* Dividend per share of common stock $ 0.18 $ 0.20 $ 0.20 $ 0.20 $ 0.78 Stock prices:+ High $ 99.10 $ 91.76 $ 85.11 $ 89.94 Low 89.09 71.85 74.16 78.70 * Earnings Per Share (EPS) in each quarter is computed using the weighted-average number of shares outstanding during that quarter while EPS for the full year is computed using the weighted-average number of shares outstanding during the year. Thus, the sum of the four quarter’s EPS does not equal the full-year EPS. ** Reflects implementation of FASB Interpretation No. 47. See note B, “Accounting Changes,” on page 72 for additional information. + The stock prices reflect the high and low prices for IBM’s common stock on the New York Stock Exchange composite tape for the last two years. 117