Konica Minolta 2005 Annual Report Download - page 42

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40
Thousands of
U.S. dollars
Millions of yen (note 3)
2005 2004 2005
Net Sales ¥1,067,447 ¥860,420 $9,939,911
Cost of Sales (Note 8) 597,800 498,967 5,566,626
Gross profit 469,647 361,453 4,373,284
Selling, General and Administrative Expenses (Note 8) 402,069 303,922 3,744,008
Operating income 67,577 57,530 629,267
Other Income (Expenses):
Interest and dividend income 1,353 1,003 12,599
Interest expense (5,549) (5,190) (51,671)
Foreign exchange gains (losses), net 684 (4,177) 6,369
Equity in earnings of unconsolidated subsidiaries and affiliates, net 108 61 1,006
Losse on disposal of property, plant and equipment, net (4,010) (2,477) (37,341)
Management integration rationalization expenses* (4,020) (5,022) (37,434)
Additional contribution on withdrawals from the Welfare Pension
Fund plans (Note 12) —(513) —
Loss on transition to defined contribution plans from defined
benefit plans (Note 12) —(180) —
Write-down of investment securities (325) (451) (3,026)
Amortization of unrecognized transition benefit obligations (Note 12) (521) (1,540) (4,851)
Prior periods’ expenses of accrued retirement benefits for directors
and corporate auditors —(513) —
Loss on disposal of inventories (8,698) (5,687) (80,995)
Restructuring expenses* (4,851) —(45,172)
Allowance for doubtful accounts (1,627) —(15,150)
Amortization of consolidation goodwill (5,397) —(50,256)
Gain (loss) on sales of investment securities, net 2,455 (123) 22,861
Other, net (1,746) (353) (16,259)
Total (32,147) (25,167) (299,348)
Income before income taxes 35,430 32,363 329,919
Income Taxes (Note 7):
Current 27,947 22,466 260,238
Deferred (594) (2,841) (5,531)
Total 27,352 19,624 254,698
Minority Interests in Earnings of Consolidated Subsidiaries (553) (189) (5,149)
Net Income ¥7,524 ¥ 12,548 $70,062
U.S. dollars
Millions of yen (note 3)
2005 2004 2005
Per Share of Common Stock:
Net income ¥14.1 ¥26.5 $0.13
Cash dividends 10.0 10.0 0.09
*Management integration rationalization expenses for the year ended March 31, 2005 mainly represent restructuring expenses for employes of European
subsidiaries of ¥3,096 million (US$28,829 thousand).
*Management integration rationalization expenses for the year ended March 31, 2004 represent restructuring expenses for offices of ¥1,781 million (US$16,851
thousand) and for employees of European subsidiaries of ¥3,241 million (US$30,665 thousand).
*Restructuring expenses
Expenses for structural reform related to the Photo Imaging Business of ¥3,628 million (US$33,783 thousand) and accelerated depreciation charges of ¥1,223
million (US$11,388 thousand) for the Digital Camera Bsiness.
The accompanying Notes to the Consolidated Financial Statements are an integral part of these statements.
CONSOLIDATED STATEMENTS OF INCOME
Konica Minolta Holdings, Inc. and Consolidated Subsidiaries
For the fiscal years ended March 31, 2005 and 2004