Cemex 1997 Annual Report Download - page 58

Download and view the complete annual report

Please find page 58 of the 1997 Cemex annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

52
Statements of income
(Thousands of constant Mexican pesos as of December 31, 1997, except for earnings per share)
Years ended on
December 31
1997 1996
Equity in income of subsidiaries and affiliates $ 4,460,456 5,064,018
Rental income 114,796 106,440
License fees 315,546 194,679
Total revenues (note 10) 4,890,798 5,365,137
Administrative expenses (71,615) (39,886)
Operating income 4,819,183 5,325,251
Comprehensive financing income:
Financial expenses (3,064,923) (4,165,076)
Financial income 394,740 967,371
Foreign exchange gain (loss), net (193,433) 97,631
Monetary position result 3,527,218 5,465,677
Net comprehensive financing income 663,602 2,365,603
Other income (expenses), net 86,488 (123,093)
Income before income taxes 5,569,273 7,567,761
Income tax benefit and business assets tax, net (note 14) 570,686 633,994
Net income $6,139,959 8,201,755
Basic Earnings Per Share (note 18) $4.78 6.32
Diluted Earnings Per Share (note 18) $4.71 5.52
CEMEX, S.A. DE C.V.(Parent Company only)
See accompanying notes to financial statements.