JVC 1998 Annual Report Download - page 21

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JVC 1998 19
Thousands of
Millions of yen U.S. dollars (Note 1)
1998 1997 1996 1998
Net sales ...................................................................................... ¥916,306 ¥890,373 ¥806,551 $6,941,712
Costs and expenses:
Cost of sales............................................................................... 629,859 607,383 548,728 4,771,659
Selling, general and administrative expenses.............................. 276,414 271,467 252,650 2,094,045
............................................................................................... 906,273 878,850 801,378 6,865,704
Operating income ........................................................................ 10,033 11,523 5,173 76,008
Other income (expense):
Interest and dividend income...................................................... 1,937 2,418 2,288 14,674
Interest expense.......................................................................... (5,246) (4,864) (5,157) (39,742)
Gain on sales of investment securities ........................................ 893 34 1,733 6,765
Gain on subsidy for restructuring of a subsidiary......................... —— 3,744 —
Loss on support of affiliated companies...................................... (1,356) (1,022) (2,674) (10,273)
Loss on liquidation and dissolution of subsidiaries...................... —(364) (43) —
Restructuring cost....................................................................... (2,063) ——(15,629)
Foreign currency translation adjustments.................................... —— (769) —
Other, net.................................................................................... 1,730 2,661 7,219 13,106
............................................................................................... (4,105) (1,137) 6,341 (31,099)
Income before income taxes, minority interests
and equity in income (loss)........................................................ 5,928 10,386 11,514 44,909
Income taxes (Note 7):
Current........................................................................................ 7,488 6,624 4,115 56,727
Deferred...................................................................................... 3,308 517 (980) 25,061
............................................................................................... 10,796 7,141 3,135 81,788
Income (loss) before minority interests
and equity in income (loss)........................................................ (4,868) 3,245 8,379 (36,879)
Minority interests ........................................................................ (130) (413) (2,670) (985)
Equity in income (loss) of unconsolidated
subsidiaries and affiliated companies ..................................... 295 1,754 (1,366) 2,235
Net income (loss)......................................................................... ¥ (4,703) ¥ 4,586 ¥ 4,343 $ (35,629)
Yen U.S. dollars (Note 1)
Amounts per share of common stock:
Net income (loss)........................................................................ ¥ (18.5) ¥ 18.0 ¥ 17.1 $ (0.14)
Diluted net income...................................................................... —17.2 — —
Cash dividends applicable to the year ........................................ 7.0 7.0 5.0 0.05
See accompanying notes.
Consolidated Statements of Operations
Victor Company of Japan, Limited
Years ended March 31, 1998, 1997 and 1996
Financial Section