Pentax 2003 Annual Report Download - page 38

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36
Consolidated Statements of Income
Hoya Corporation and Consolidated Subsidiaries
Years Ended March 31, 2003, 2002 and 2001
Thousands of
U.S. Dollars
Millions of Yen (Note 1)
2003 2002 2001 2003
NET SALES (Notes 13 and 14) ¥246,293 ¥235,265 ¥236,802 $2,052,442
COST OF SALES (Notes 13 and 14) 133,275 134,258 135,319 1,110,625
Gross profit 113,018 101,007 101,483 941,817
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
(Notes 12, 13 and 14) 60,035 57,109 56,355 500,292
Operating income 52,983 43,898 45,128 441,525
OTHER INCOME (EXPENSES):
Interest and dividend income 624 490 587 5,200
Interest expense (374) (617) (926) (3,117)
Foreign exchange gains (losses)—net (1,252) 1,033 680 (10,434)
Gain on sales of investment securities 109 137 126 908
Gain on sales of property, plant and equipment 725 336 268 6,042
Gain on transfer of business (Note 3) 488 4,067
Loss on sales of investment securities (7) (3,118) (364) (58)
Loss on write-down of investment securities (111) (479) (1,214) (925)
Loss on disposal of property, plant and equipment (1,947) (1,529) (986) (16,225)
Equity in earnings of associated companies 418 533 1,865 3,483
Amortization of goodwill (Note 3) (469) (14,347)
Additional expense incurred to discontinued contributory
funded pension plan (14,949) (124,575)
Additional expense incurred to discontinued unfunded
retirement benefit plan (351) (2,925)
Additional retirement benefits paid to employees (3,691) (1,996) (176) (30,758)
Temporary plant closure expenses (463) (778) (3,858)
Other income (expenses)—net (3,459) 147 867 (28,825)
Other expenses—net (24,240) (6,310) (13,620) (202,000)
INCOME BEFORE INCOME TAXES AND MINORITY INTERESTS
28,743 37,588 31,508 239,525
INCOME TAXES (Note 11):
Current 5,648 12,002 14,720 47,066
Deferred 3,029 1,745 (5,170) 25,242
Total income taxes 8,677 13,747 9,550 72,308
MINORITY INTERESTS IN NET INCOME (28) (100) (98) (234)
NET INCOME ¥020,038 ¥23,741 ¥ 21,860 $166,983
Yen U.S. Dollars
2003 2002 2001 2003
PER SHARE OF COMMON STOCK (Note 17):
Basic net income ¥0171.10 ¥203.15 ¥186.60 $1.43
Diluted net income 171.08 1.43
Cash dividends applicable to the year 50.00 50.00 50.00 0.42
See notes to consolidated financial statements.