Epson 2007 Annual Report Download - page 58

Download and view the complete annual report

Please find page 58 of the 2007 Epson 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 89

  • 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
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89

56 Seiko Epson Corporation
Consolidated Statements of Income
Seiko Epson Corporation and Subsidiaries
Thousands of
Millions of yen U.S. dollars
Year ended March 31
Year ended March 31,
2005 2006 2007 2007
Net sales ¥1,479,750 ¥1,549,568 ¥1,416,032 $11,995,188
Cost of sales 1,070,011 1,194,781 1,059,259 8,972,969
Gross profit 409,739 354,787 356,773 3,022,219
Selling, general and administrative expenses:
Salaries and wages 76,917 78,381 79,582 674,138
Advertising 32,522 31,643 26,215 222,067
Sales promotion 31,556 31,538 27,476 232,749
Research and development costs 42,903 44,570 43,054 364,710
Shipping costs 19,374 21,537 20,607 174,561
Provision for doubtful accounts 112 66 409 3,465
Other 115,388 121,294 109,087 924,074
318,772 329,029 306,430 2,595,764
Operating income 90,967 25,758 50,343 426,455
Other income:
Interest and dividend income 2,457 3,751 5,998 50,809
Net gain on foreign exchange — 425 — —
Rental income 1,531 1,469 1,620 13,723
Gain on change in interest due to business combination — 12,424 ——
Other 4,041 6,752 11,313 95,832
8,029 24,821 18,931 160,364
Other expenses:
Interest expenses 5,816 6,730 6,631 56,171
Net loss on foreign exchange 3,905 — 7,191 60,915
Loss on disposal of fixed assets 3,312 2,331 4,451 37,704
Reorganization costs 4,608 45,532 41,165 348,708
Provision for litigation and related expenses — 8,540 1,129 9,564
Prior pension costs for foreign subsidiaries 2,285 — ——
Other 5,423 7,493 5,231 44,312
25,349 70,626 65,798 557,374
Income (loss) before income taxes and minority interest 73,647 (20,047) 3,476 29,445
Income taxes:
Current 21,394 16,564 10,784 91,351
Deferred (1,493) (7,377) 6,837 57,916
19,901 9,187 17,621 149,267
Income (loss) before minority interest 53,746 (29,234) (14,145) (119,822)
Minority interest in subsidiaries (1,943) (11,317) (7,051) (59,729)
Net income (loss) ¥ 55,689 ¥ (17,917) ¥(7,094) $ (60,093)
Yen U.S. dollars
Per share:
Net income (loss) ¥283.60 ¥(91.24) ¥(36.13) $(0.31)
Cash dividends ¥ 22.00 ¥ 29.00 ¥32.00 $ 0.28
The accompanying notes are an integral part of these financial statements.