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INTRODUCTION INTRODUCTION
·Founder - Steve 1obs and Steve Wozniak
founded apple computer inc. in 1976.
·Incorporated in 1977
·In 2007 named changed
to Apple inc.
·Vision and Mission
LOGO HISTORY
1he or|g|na| 1he ka|nbow |ogo 1he |ogo re|nvented
ObjectIves and GoaIs
ver the next 3Ŵ4 years App|e wou|d ||ke
to |ncrease the|r product access|b|||ty
(new stores)Ŧ
Increase the|r market share by 30ƷŦ
L||m|nate the need for new products |n
order to ra|se sa|esŦ
HY APPLE ?
F¡NANCE
MARKET¡NG
OPERAT¡ON8
From Financial point of view
W neL sales has been lncreased almosL near Lo
300Ʒ wlLhln 4 vearsŦ
W neL lncome has been lncreased bv almosL 429Ʒ
wlLhln 4 vearsŦ
W LÞS has been ralsed almosL 4 LlmesŦ
rom perat|ons po|nt of v|ew
Apple as the company with best
supply chain practices in the
world for the third year
running.
rom Market|ng po|nt of v|ew
HUMAN RESOURCE
ORGANIZATIONAL STRUCTURE
RecruItment poIIcy
CompensatIon poIIcy( IndIvIduaI
reward)
TraInIng
APPlF HARKFTlt6 APPlF HARKFTlt6
STRATF6lFS STRATF6lFS
AppIe's DesIgn Process AppIe's DesIgn Process
When you first start off trying to solve a
problem. the first solutions you come up
with are very complex. and most people stop
there. But if you keep going. you can often
times arrive at some very elegant and
simple solutions.¨ -Steve 1obs
VISION: Apple identifies needs and use
cases to make decisions about function
and technologies.
FOCUS: Drops 20 º of non-required
functionalities to perfectly design 80 º
of key user needs.
1kA1LGIL 1kA1LGIL
W 9romot|ona| 1echn|queť
urpr|se e|ement |n each product |aunchŦ
heavv speculaLlon and curloslLv reaardlna Lhe
producL Ŧ
W 9os|t|on|ngť
hvpe surroundlna Apple producL was creaLed due
Lo lLs unlque adverLlslnaţ word of mouLh publlclLv
bv Lhe users and Lhe look and deslan of Lhe
producLŦ
W LLL A1 9kLMIUMť
1kA1LGIL 1kA1LGIL
W L 1nL U1MLk INť 123 m l1unes
accounLs llnked wlLh credlL cardŦ
W k LLLING 1nL 9kU1 LINLť
ÞroducL llne covers all marketsţ a|| pr|ce rangesţ
a|| needs w|th an accurate segmentat|onŦ
1he lcostomet oeeJs o// 4pp/e products to
moximite his user experienceŦ
nteorotion reinforced by retoi/ stroteoyŦ Apple
SLores fosters the brand appea| and
consequent|yţ the ho/o effectŦ
W 1Plnk ulllL8Ln1ť losLerlna new Apple
envlronmenLŦ
M9U1INGť M9U1INGť
W trateg|c Moveť
v movlna Lo lnLel processors ln 2006ţ lL became
posslble Lo run Wlndows easllv on MacŦ
W W n|gh n|ghŴ Ŵ Lnd onsumers Lnd onsumersťť
W lMac has 9Ʒ markeL share buL lL accounLs for
90Ʒ of dollars spenL on compuLersŦ
W unllke Wlndows vlruses are almosL
nonexlsLenL ln Mac unlverseŦ
MUI kLVLU1IN MUI kLVLU1IN
MAk1 9nNL MAk1 9nNL
W W lobal Launchť lobal Launchť
ÞeneLraLlon ln uS markeLŦ
Subsldlzed PandseLsŦ
ColaboraLlon wlLh A1Ǝ1Ŧ
Plaher proflL due Lo more A8ÞuŦ
IPBome ImBIæt Hæs AppIe
BIæIeB tBe wromg
mumBer?
W k|m|ng the Ind|an marketŦ
W o|aborat|on w|th Vodafoneţ A|rte|Ŧ
W keasons beh|nd fa||ure |n Ind|an marketŦ
With the iPod. Apple Generated A New Environment to Experience the Music
(Music Access and Listening¨ Experience Environment)
COMPETITIVE ADVANTAGE COMPETITIVE ADVANTAGE
SIMPLICITY: Technical complexity hidden behind
slick and intuitive user interface gives seamless
experience.
QUALITY: Thanks to hardware and software tight
integration Apple`s product offers great quality.
INNOVATION: Apple does not depend on its suppliers`
technical breakthroughs. It can innovate on hardware
and software at its own pace.
PERFORMANCE OF THE PERFORMANCE OF THE
COMPANY COMPANY
ow did Apple beat Google & Microsoft?
kevenue |str|but|onť kevenue |str|but|onť
W The iTunes Store represented only 11 º of Apple`s revenues
in 2009.
W iPhone (hardware) sales represented 22 ° oI Apple`s revenues
that amounts to $6.8 bn.
W 0 º of Apple revenues comes from Mac sales (desktop
and laptop).
W #evenue oI $400 m that is less than 1° oI total revenue
generated by App Store sales since its creation.
MlcrosofL ŴŴŴŴ
ooale ŴŴŴŴ
Apple ŴŴŴŴ
In 6 yearsţ App|e's market cap outwe|ghed both the new and
o|d tech champ|ons
omputer so|d |n un|ts omputer so|d |n un|ts
0
2
4
6
8
10
12
14
2000 2001 2002 2003 2004 2003 2006 2007 2008 2009
M||||on
Mllllon
Apple's 8eLall SLores SLand CuL And
Pave een Plahlv Successful
· 160+ retail stores
· Revenue per square
foot: $2.89
· Compared with $971
per square foot at Best
Buy.
£xtcvnuI AudIt
pportun|t|es
Increase |n worms and v|ruses
on 9sŦ
Large popu|at|on (Gen kƎ¥)
wh|ch are extreme|y
|nd|v|dua||st|c and name brand
consc|ousŦ
own|oadab|e mus|c and M93
p|ayers are h|gh|y marketab|eŦ
Increase sa|es of computers
on||ne by 25 percentŦ
Increase sa|es of |aptops by 20
percentŦ
1hreats
ompan|es not see|ng App|e as
compat|b|e w|th the|r softwareŦ
e|| and n9 are ma[or
compet|torsŦ
Increas|ng compet|t|on w|th
mus|c down|oadsŦ
e|| does not |nvent but
prov|des computers at a more
cost effect|ve rate for
customersŦ
tr|ct product contro| and
vert|ca| d|vers|f|cat|onŦ
ntcvnuI AudIt
trengths
O |1unes Mus|c tore |s a good source
of revenueţ espec|a||y w|th the |9od
and the ava||ab|||ty on W|ndows
p|atformŦ
O eve|op|ng own software and
hardwareŦ
O App|e's n|che aud|ence prov|des the
company w|th some |nsu|at|on from
the d|rect pr|ce compet|t|onŦ
O kevamp|ng desktop and notebook
||nesŦ
O Web techno|ogy can be used to
|mprove product awareness and
sa|esŦ
O Low debtŸmore maneuverab|eŦ
O Good brand |oya|tyŦ
Weaknesses
O Weak re|at|onsh|p w|th Inte| and
M|crosoftŦ
O Weak presence |n bus|ness arenaŦ
O ependency on new product |aunchesŦ
O Weak presence |n markets other than
educat|on and pub||sh|ngŦ
O |ow turn around on h|gh demand
productsŦ
$% MutvIx
Ŵ trateg|es
Increase awareness through the
web of the |mmun|ty of Mac
products to worms and v|rusesŦ
Advert|se us|ng |nd|v|dua|s that
w||| ||nk Generat|on k Ǝ ¥ to the
|1unes and other re|ated productsŦ
Us|ng mov|es and mus|c groups
that are geared towards Gen k and
¥ to promote computers and
|aptopsŦ
Ŵ1 trateg|es
Increase and promote the
compat|b|||ty to W|ndow operat|ng
systemŦ
9romote the or|g|na||ty of App|e
computers and the d|fferent sty|e
and stab|e system that |s s||ght|y
more but worth the pr|ce
d|fference |n sty|eţ stab|||ty and
speedŦ
WŴ trateg|es
Increase t|es w|th M|crosoft and
Inte| and the|r productsŦ
9romote to bus|ness the safety of
hav|ng a worm and v|rus free
computer by us|ng MacŦ
WŴ1 trateg|es
Improve re|at|onsh|p w|th
M|crosoft and Inte| so that
compan|es w||| see them as
compat|b|eŦ
Increase product|v|ty and turn
around of h|gh demand products
to compete w|th e|| and n9Ŧ
Sw0T HATRlX
Apple's MarkeLlna Lessons
Make the customer k|ng
App|e customers have tremendous brand |oya|tyŦ
Mac users (Mac Mar|nes) wou|d protest to
[ourna||sts who wrote derogatory art|c|es about the
|9od's shorter than expected battery ||fe that many
[ourna||sts wou|d avo|d wr|t|ng about App|eƌs
strugg|es a|togetherŦ
Mac User Groups were voca| |n the|r attempt to
keep App|e execut|ves focused on qua||ty when
they perce|ved the company was |ower|ng |ts
standardsŦ
App|e patrons fee| as |f they are part of a
commun|ty Ŵ the resu|t of the ƍus aga|nst themƍ
menta||tyŦ ustomers are |oya| and have a sense of
|ndependence and an ant|Ŵestab||shment
perspect|veŦ
App|e's Market|ng Lessons
8reak the market|ng mou|d
ompany motto
Iobs d|d away w|th "8|g 8ox" stores
pened 1st reta|| store |n V|rg|n|a |n
2001
Iune 2008 Ŵ 215 stores
G|oba| cha|ns (Austra||aţ anadaţ
h|naţ Ita|yţ Iapanţ U)
keta|| strategy a huge success Ŵ the
"Nordstrom of techno|ogy"
1997 Macwor|d Lxpo onference that
App|e wou|d be se|||ng M|crosoft 5Ʒ of
the company for a $150 m||||onţ and be
work|ng w|th the|r archr|va| on new
pro[ects (M|crosoft)
APPLE's - LOGISTICS
AND SUPPLY CHAIN
SUPPLY CHAIN MANAGEMENT - MAIN COMPONENTS
AppIe's suppIy cbaIn judged best
In worId agaIn
A report by AMR Research has named Apple as
the company with best supply chain practices in the
world for the third year running.
In a feature exploring the secret behind Apple`s
success. it was found that company`s ability to
bring together two sides of the supply chain (digital
and physical) efficiently and at increasingly low
cost.
DIgItaI suppIy cbaIn Is a new medIa term tbat
encompasses tbe process oI tbe deIIvery oI dIgItaI
medIa, be It musIc or vIdeo, by eIectronIc means
Irom tbe poInt oI orIgIn (content provIder) to
destInatIon (consumer).
Tbe maIn processes oI a dIgItaI suppIy cbaIn are
as IoIIows:
1.) True on-demand product avaIIabIIIty
2.) Ease oI use and speed Ior content searcb and
actIvatIon.
3.)PrIcIng and subscrIptIons
4.) QuaIIty management buIIt on IIcensIng and
reIunds
APPLE IPHONE SUPPLY CHAIN
From a high-level. we speculate that the following are
the material suppliers of the Apple iPhone:
Samsung: The Singapore facility manufactures CPU and
Video processing chips.
Infineon: The Singapore facility manufactures Baseband
Communications hardware.
Primax Electronics: The Taiwan facility manufactures Digital
Camera Modules.
Foxconn International: The Taiwan facility manufactures
internal circuitry.
Entery Industrial: The Taiwan facility manufactures
connectors.
Cambridge Silicon: The Taiwan facility manufactures
bluetooth chipsets.
Umicron Technology: The Taiwan facility manufactures
printed circuit boards
·Catcher Technology: The Taiwan facility manufactures stainless
metal casings.
·Broadcomm: The U.S. based facility builds touch screen
controllers.
·Marvell: The U.S. based facility builds 802.11 specific parts.
China facility assembles the hardware. holds inventory. and
handles the pick. pack. and ship steps of the fulfillment process.
The iconic iPod and iPhone maker took the top spot
due to "an intoxicating mix of brilliant industrial
design. software interfaces and consumable goods
that are purely digital¨.
ENEFITS APPLE GOT FROM ITS SUPPLY ENEFITS APPLE GOT FROM ITS SUPPLY
CHAIN: CHAIN:--
Cost
Reduced inventories
Reduced waste
Reduced total manufacturing costs
Service
Establishment of a collaborative framework
Near real time information flow
CINA CINA - -TE ASSEMBLY UB OF APPLE TE ASSEMBLY UB OF APPLE
LIFE BLOOD AAD AERJE CEA1RE OF BUSIAESS"
2007 2008 2009
current assets
cash and cash equ|v 9ţ332 11ţ873 3ţ263
short term marketab|e secur|t|es 6ţ034 10ţ236 18ţ201
Accounts kece|vab|eţ Net 1ţ637 2ţ422 3ţ361
Inventor|es 346 309 433
eferred 1ax Assets 788 1ţ044 1ţ133
ther urrent Assets 3ţ344 3ţ920 3ţ140
1ota| urrent Assets 21ţ701 30ţ006 31ţ333
LongŴ1erm Marketab|e ecur|t|es 2379 10328
9ropertyţ 9|ant and Lqu|pmentţ Net 1832 2433 2934
Goodw||| 38 207 206
Acqu|red Intang|b|e Assetsţ Net 299 283 247
ther Assets 1008 839 2011
1ota| Assets 24878 36171 47301
urrent L|ab|||t|esť
Accounts 9ayab|e 4970 3320 3601
Accrued Lxpenses 3023 4224 3832
eferred kevenue 1113 1617 2033
1ota| urrent L|ab|||t|es 9106 11361 11306
eferred kevenue Ŵ NonŴurrent 334 768 833
ther NonŴurrent L|ab|||t|es 687 1743 3302
1ota| L|ab|||t|es 10347 13874 13861
hareho|dersƌ Lqu|tyť
ommon tock 3368 7177 8210
keta|ned Larn|ngs 9100 13129 23333
Accumu|ated ther omprehens|ve Income/(Loss) 63 Ŵ9 77
1ota| hareho|dersƌ Lqu|ty 14331 22297 31640
1ota| L|ab|||t|es and hareho|dersƌ Lqu|ty
8a|ance sheet of app|e (|n m||||on $)
2007 2008 2009
currenL asseLs
cash and cash equlv 37Ŧ39Ʒ 32Ŧ83Ʒ 11Ŧ08Ʒ
shorL Lerm markeLable securlLles 24Ŧ23Ʒ 28Ŧ30Ʒ 38Ŧ32Ʒ
AccounLs 8ecelvableţ neL 6Ŧ38Ʒ 6Ŧ70Ʒ 7Ŧ08Ʒ
lnvenLorles 1Ŧ39Ʒ 1Ŧ41Ʒ 0Ŧ96Ʒ
ueferred 1ax AsseLs 3Ŧ17Ʒ 2Ŧ89Ʒ 2Ŧ39Ʒ
CLher CurrenL AsseLs 14Ŧ23Ʒ 10Ŧ84Ʒ 6Ŧ61Ʒ
1oLal CurrenL AsseLs 87Ŧ23Ʒ 82Ŧ96Ʒ 66Ŧ43Ʒ
LonaŴ1erm MarkeLable SecurlLles 6Ŧ38Ʒ 22Ŧ16Ʒ
ÞroperLvţ ÞlanL and LqulpmenLţ neL 7Ŧ36Ʒ 6Ŧ79Ʒ 6Ŧ22Ʒ
oodwlll 0Ŧ13Ʒ 0Ŧ37Ʒ 0Ŧ43Ʒ
Acqulred lnLanalble AsseLsţ neL 1Ŧ20Ʒ 0Ŧ79Ʒ 0Ŧ32Ʒ
CLher AsseLs 4Ŧ03Ʒ 2Ŧ32Ʒ 4Ŧ23Ʒ
1oLal AsseLs 100Ŧ00Ʒ 100Ŧ00Ʒ 100Ŧ00Ʒ
CurrenL LlablllLlesť
AccounLs Þavable 19Ŧ98Ʒ 13Ŧ26Ʒ 11Ŧ79Ʒ
Accrued Lxpenses 12Ŧ13Ʒ 11Ŧ68Ʒ 8Ŧ11Ʒ
ueferred 8evenue 4Ŧ47Ʒ 4Ŧ47Ʒ 4Ŧ32Ʒ
1oLal CurrenL LlablllLles 36Ŧ60Ʒ 31Ŧ41Ʒ 24Ŧ22Ʒ
0Ŧ00Ʒ
ueferred 8evenue Ŵ nonŴCurrenL 2Ŧ23Ʒ 2Ŧ12Ʒ 1Ŧ80Ʒ
CLher nonŴCurrenL LlablllLles 2Ŧ76Ʒ 4Ŧ82Ʒ 7Ŧ37Ʒ
1oLal LlablllLles 41Ŧ39Ʒ 38Ŧ36Ʒ 33Ŧ39Ʒ
Shareholdersƌ LqulLvť
Common SLock 21Ŧ38Ʒ 19Ŧ84Ʒ 17Ŧ28Ʒ
8eLalned Larnlnas 36Ŧ38Ʒ 41Ŧ83Ʒ 49Ŧ16Ʒ
AccumulaLed CLher Comprehenslve lncome/(Loss) 0Ŧ23Ʒ Ŵ0Ŧ02Ʒ 0Ŧ16Ʒ
1oLal Shareholdersƌ LqulLv 38Ŧ41Ʒ 61Ŧ64Ʒ 66Ŧ61Ʒ
1oLal LlablllLles and Shareholdersƌ LqulLv 100Ŧ00Ʒ 100Ŧ00Ʒ 100Ŧ00Ʒ
ommon s|ze statement for the year ended
2007 Lo 2008 2008 Lo 2009
currenL asseLs lnc/dec lnc/dec (per) lnc/dec lnc/dec(per)
cash and cash equlv 2ţ323 26Ŧ98Ʒ Ŵ6ţ612 Ŵ33Ŧ68Ʒ
shorL Lerm markeLable securlLles 4ţ202 44Ŧ93Ʒ 7ţ963 67Ŧ07Ʒ
AccounLs 8ecelvableţ neL 783 8Ŧ39Ʒ 939 7Ŧ91Ʒ
lnvenLorles 163 1Ŧ74Ʒ Ŵ34 Ŵ0Ŧ43Ʒ
ueferred 1ax AsseLs 236 2Ŧ74Ʒ 91 0Ŧ77Ʒ
CLher CurrenL AsseLs 376 4Ŧ02Ʒ Ŵ780 Ŵ6Ŧ37Ʒ
1oLal CurrenL AsseLs 8ţ303 88Ŧ80Ʒ 1ţ349 13Ŧ04Ʒ
LonaŴ1erm MarkeLable SecurlLles 2ţ379 23Ŧ44Ʒ 8ţ149 68Ŧ62Ʒ
ÞroperLvţ ÞlanL and LqulpmenLţ neL 623 6Ŧ66Ʒ 499 4Ŧ20Ʒ
oodwlll 169 1Ŧ81Ʒ Ŵ1 Ŵ0Ŧ01Ʒ
Acqulred lnLanalble AsseLsţ neL Ŵ14 Ŵ0Ŧ13Ʒ Ŵ38 Ŵ0Ŧ32Ʒ
CLher AsseLs Ŵ169 Ŵ1Ŧ81Ʒ 1ţ172 9Ŧ87Ʒ
1oLal AsseLs 11ţ293 120Ŧ73Ʒ 11ţ330 93Ŧ41Ʒ
CurrenL LlablllLlesť
AccounLs Þavable 330 3Ŧ88Ʒ 81 0Ŧ68Ʒ
Accrued Lxpenses 1ţ201 12Ŧ84Ʒ Ŵ372 Ŵ3Ŧ13Ʒ
ueferred 8evenue 304 3Ŧ39Ʒ 436 3Ŧ67Ʒ
1oLal CurrenL LlablllLles 2ţ233 24Ŧ11Ʒ 143 1Ŧ22Ʒ
0Ŧ00Ʒ 0 0Ŧ00Ʒ
ueferred 8evenue Ŵ nonŴCurrenL 214 2Ŧ29Ʒ 83 0Ŧ72Ʒ
CLher nonŴCurrenL LlablllLles 1ţ038 11Ŧ31Ʒ 1ţ737 14Ŧ80Ʒ
1oLal LlablllLles 3ţ327 37Ŧ71Ʒ 1ţ987 16Ŧ73Ʒ
0Ŧ00Ʒ 0 0Ŧ00Ʒ
Shareholdersƌ LqulLvť 0Ŧ00Ʒ 0 0Ŧ00Ʒ
Common SLock 1ţ809 19Ŧ34Ʒ 1ţ033 8Ŧ70Ʒ
8eLalned Larnlnas 6ţ029 64Ŧ47Ʒ 8ţ224 69Ŧ23Ʒ
AccumulaLed CLher Comprehenslve lncome/(Loss) Ŵ72 Ŵ0Ŧ77Ʒ 86 0Ŧ72Ʒ
1oLal Shareholdersƌ LqulLv 7ţ766 83Ŧ04Ʒ 9ţ343 78Ŧ68Ʒ
1oLal LlablllLles and Shareholdersƌ LqulLv 11ţ293 120Ŧ73Ʒ 11ţ330 93Ŧ41Ʒ
Comparative Balance sheet(Amount in million $)
2007 2008 2009
neL salesť
uomesLlc $14ţ683 $20ţ893 $22ţ323
lnLernaLlonal 9ţ893 16ţ398 20ţ380
1oLal neL sales 24ţ378 37ţ491 42ţ903
CosLs and expensesť
CosL of sales 16ţ426 24ţ294 23ţ683
8esearch and developmenL (8Ǝu) 782 1ţ109 1ţ333
Selllnaţ aeneral and admlnlsLraLlve (SƎA) 2ţ963 3ţ761 4ţ149
1oLal CperaLlna Lxpenses 3ţ743 4ţ870 3ţ482
CperaLlna lncome 4ţ407 8ţ327 11ţ740
CLher lncome and expense 399 620 326
lncome before provlslon for lncome Laxes 3ţ006 8ţ947 12ţ066
Þrovlslon for lncome Laxes 1ţ311 2ţ828 3ţ831
neL lncome 1ţ311 $6ţ119 $8ţ233
Income statement
2007 2008 2009
neL salesť
uomesLlc 39Ŧ74Ʒ 33Ŧ73Ʒ 32Ŧ03Ʒ
lnLernaLlonal 40Ŧ26Ʒ 44Ŧ27Ʒ 47Ŧ97Ʒ
1oLal neL sales 100Ŧ00Ʒ 100Ŧ00Ʒ 100Ŧ00Ʒ
0Ŧ00Ʒ 0Ŧ00Ʒ 0Ŧ00Ʒ
CosLs and expensesť 0Ŧ00Ʒ 0Ŧ00Ʒ 0Ŧ00Ʒ
CosL of sales 66Ŧ83Ʒ 64Ŧ80Ʒ 39Ŧ86Ʒ
8esearch and developmenL (8Ǝu) 3Ŧ18Ʒ 2Ŧ96Ʒ 3Ŧ11Ʒ
Selllnaţ aeneral and admlnlsLraLlve (SƎA) 12Ŧ06Ʒ 10Ŧ03Ʒ 9Ŧ67Ʒ
1oLal CperaLlna Lxpenses 13Ŧ24Ʒ 12Ŧ99Ʒ 12Ŧ78Ʒ
CperaLlna lncome 17Ŧ93Ʒ 22Ŧ21Ʒ 27Ŧ36Ʒ
CLher lncome and expense 2Ŧ44Ʒ 1Ŧ63Ʒ 0Ŧ76Ʒ
lncome before provlslon for lncome Laxes 20Ŧ37Ʒ 23Ŧ86Ʒ 28Ŧ12Ʒ
Þrovlslon for lncome Laxes 6Ŧ13Ʒ 7Ŧ34Ʒ 8Ŧ93Ʒ
0Ŧ00Ʒ 0Ŧ00Ʒ 0Ŧ00Ʒ
neL lncome 6Ŧ13Ʒ 16Ŧ32Ʒ 19Ŧ19Ʒ
ommon s|ze |ncome statement
2007 LC 2008 2008 L0 2009
lnc/cec lnc/dec(per) lnc/dec lnc/dec(per)
neL salesť
uomesLlc $6ţ210 42Ŧ29Ʒ $1ţ432 6Ŧ83Ʒ
lnLernaLlonal $6ţ703 43Ŧ63Ʒ $3ţ982 19Ŧ06Ʒ
1oLal neL sales $12ţ913 87Ŧ93Ʒ $3ţ414 23Ŧ91Ʒ
$0 0Ŧ00Ʒ $0 0Ŧ00Ʒ
CosLs and expensesť $0 0Ŧ00Ʒ $0 0Ŧ00Ʒ
CosL of sales $7ţ868 33Ŧ39Ʒ $1ţ389 6Ŧ63Ʒ
8esearch and developmenL (8Ǝu) $327 2Ŧ23Ʒ $224 1Ŧ07Ʒ
Selllnaţ aeneral and admlnlsLraLlve (SƎA) $798 3Ŧ43Ʒ $388 1Ŧ86Ʒ
1oLal CperaLlna Lxpenses $1ţ123 7Ŧ66Ʒ $612 2Ŧ93Ʒ
CperaLlna lncome $3ţ920 26Ŧ70Ʒ $3ţ413 16Ŧ34Ʒ
CLher lncome and expense $21 0Ŧ14Ʒ ($294) Ŵ1Ŧ41Ʒ
lncome before provlslon for lncome Laxes $3ţ941 26Ŧ84Ʒ $3ţ119 14Ŧ93Ʒ
Þrovlslon for lncome Laxes $1ţ317 8Ŧ97Ʒ $1ţ003 4Ŧ80Ʒ
$0 0Ŧ00Ʒ $0 0Ŧ00Ʒ
neL lncome $4ţ608 31Ŧ38Ʒ $2ţ116 10Ŧ13Ʒ
omparat|ve |ncome statement
RATIO ANALYSIS RATIO ANALYSISť
rat|os 2007 2008 2009
CurrenL raLlo 2Ŧ38 2Ŧ64 2Ŧ74
neL proflL raLlo 6Ŧ13 16Ŧ32 19Ŧ19
CperaLlna proflL
raLlo
17Ŧ93 22Ŧ21 27Ŧ36
0
1
2
3
4
3
6
7
2004Ŧ3 2003 2003Ŧ3 2006 2006Ŧ3 2007 2007Ŧ3 2008 2008Ŧ3 2009 2009Ŧ3
L9
LÞS
LAkNING 9Lk nAkL
ver v|ew about the company
And start thinking different from today...

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¯½  °¾ °n¯ $%¾¾% @ff  ¾  @ff  ¾f° f  ¾                                                                            .

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¯½  °¾ °n¯ $%¾¾% @ff  ¾  @ff  ¾f° f  ¾                                                                                                       .

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