JVC 2001 Annual Report Download - page 28

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Consolidated Statements of Operations
Victor Company of Japan, Limited and its consolidated subsidiaries
Years ended March 31, 2001, 2000 and 1999
Thousands of
U.S. dollars
Millions of yen (Note 1)
2001 2000 1999 2001
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥934,350 ¥870,235 ¥946,617 $7,535,081
Costs and expenses:
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 641,209 600,506 642,140 5,171,041
Selling, general and administrative expenses . . . . . . . . . . . . . . . . . 287,449 277,748 305,698 2,318,137
928,658 878,254 947,838 7,489,178
Operating income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,692 (8,019) (1,221) 45,903
Other income (expenses):
Interest and dividend income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,509 2,408 2,407 20,234
Unrealized gain from appreciation of trading securities . . . . . . . . . 9,749 16,386 2,325 78,621
Equity in income of affiliated companies . . . . . . . . . . . . . . . . . . . . . 173 36 453 1,395
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,383) (6,178) (8,692) (43,411)
Gain on sales of investment securities . . . . . . . . . . . . . . . . . . . . . . . 1,450 6,330 530 11,694
Loss on liquidation of subsidiaries and affiliated company . . . . . . (656) (451) (2,293) (5,290)
Loss from financial support of affiliated companies . . . . . . . . . . . . ——(1,122) —
Restructuring charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,197) (2,662) (537) (17,718)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,893) (1,762) 4,479 (15,267)
3,752 14,107 (2,450) 30,258
Income (Loss) before income taxes and minority interests . . . 9,444 6,088 (3,671) 76,161
Income taxes (Note 6):
Current . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,319 8,622 6,443 115,476
Deferred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7,081) 2,673 (1,977) (57,105)
7,238 11,295 4,466 58,371
Income (Loss) before minority interests . . . . . . . . . . . . . . . . . . . . 2,206 (5,207) (8,137) 17,790
Minority interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 292 (134) (178) 2,355
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥2,498 ¥(5,341) ¥(8,315) $ 20,145
U.S. dollars
Yen (Note 2)
Amounts per share of common stock:
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥9.8 ¥(21.0) ¥(32.7) $ 0.08
Cash dividends applicable to the year . . . . . . . . . . . . . . . . . . . . . . . 3.0 —5.0 0.02
See accompanying notes.
< 26 VICTOR COMPANY OF JAPAN, LIMITED 27 >