Pioneer 2007 Annual Report Download - page 24

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PIONEER CORPORATION23
Five-Year Summary of Operations
Pioneer Corporation and Subsidiaries
Years ended March 31
Yen U.S. Dollars
In millions of yen and thousands of U.S. dollars 2003 2004 2005 2006 2007 2007
Operating revenue:
Net sales ¥652,244 ¥672,928 ¥700,805 ¥746,424 ¥792,441 $6,715,602
Royalty revenue 12,584 11,821 10,237 8,540 4,661 39,500
Total operating revenue 664,828 684,749 711,042 754,964 797,102 6,755,102
Income (loss) from continuing operations 15,029 19,464 (10,112) (85,758) (9,536) (80,814)
Income from discontinued operations, net of tax 1,049 5,374 1,323 772 2,775 23,517
Net income (loss) ¥ 16,078 ¥ 24,838 ¥ (8,789) ¥ (84,986) ¥ (6,761) $ (57,297)
Basic net income (loss) per share of common stock (yen):
Income (loss) from continuing operations ¥84.35 ¥110.95 ¥(57.65) ¥(491.66) ¥(54.67) $(0.46)
Income from discontinued operations, net of tax 5.89 30.63 7.54 4.43 15.91 0.13
Net income (loss) 90.24 141.58 (50.11) (487.23) (38.76) (0.33)
Diluted net income (loss) per share of common stock (yen):
Income (loss) from continuing operations 84.35 110.09 (57.65) (491.66) (54.67) (0.46)
Income from discontinued operations, net of tax 5.89 30.43 7.54 4.43 15.91 0.13
Net income (loss) 90.24 140.52 (50.11) (487.23) (38.76) (0.33)
Cash dividends per share declared (yen) ¥ 17.50 ¥ 25.00 ¥ 25.00 ¥ 10.00 ¥ 10.00 $ 0.08
Capital expenditures ¥ 40,493 ¥ 57,978 ¥ 63,866 ¥ 40,325 ¥ 41,932 $ 355,356
Depreciation and amortization 36,387 41,047 46,990 46,703 41,127 348,534
Research and development expenses 45,366 51,449 55,858 63,442 59,222 501,881
Total assets 647,029 722,542 725,167 678,046 635,474 5,385,373
Borrowings:
Short-term borrowings and current portion
of long-term debt 30,867 27,837 52,428 30,370 18,605 157,669
Long-term debt 32,196 89,691 81,219 92,970 86,015 728,941
Total borrowings 63,063 117,528 133,647 123,340 104,620 886,610
Common stock 49,049 49,049 49,049 49,049 49,049 415,670
Shareholders’ equity ¥318,393 ¥332,938 ¥332,239 ¥273,250 ¥268,116 $2,272,170
Return on assets (%) 2.5 3.6 (1.2) (12.1) (1.0)
Return on equity (%) 4.8 7.6 (2.6) (28.1) (2.5)
Weighted-average number of shares
outstanding (in thousands) 178,168 175,433 175,389 174,426 174,419
Diluted average number of shares
outstanding (in thousands) 178,171 176,609 175,389 174,426 174,419
Number of shares issued (in thousands) 180,064 180,064 180,064 180,064 180,064
Number of employees 31,555 32,526 33,409 38,826 37,622
Notes: 1. The U.S. dollar amounts in this report represent translation of Japanese yen, for convenience only, at the rate of ¥118=U.S.$1.00, the approximate
current rate prevailing on March 31, 2007.
2. Basic net income (loss) per share of common stock has been computed based on the weighted-average number of shares outstanding during each fiscal
year. Diluted net income (loss) per share of common stock has been computed on the basis that all dilutive warrants and stock options were exercised.
3. Return on assets represents net income (loss) as a percentage of average total assets. Return on equity represents net income (loss) as a percentage of
average shareholders’ equity.
4. In fiscal 2004 the Company sold subsidiaries in the audio/video software business, in fiscal 2006 sold a subsidiary engaged in the development of
cable TV software, and in fiscal 2007 sold subsidiaries involved in the electronic components business. As a result, the operating results of these
subsidiaries and the gain on the sales are presented as income from discontinued operations in the consolidated statements of operations in accor-
dance with Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets.” Corresponding
figures for the previous fiscal years have been reclassified accordingly. See Note 4 of notes to consolidated financial statements.
5. In fiscal 2006, the Company changed the standard for counting the number of employees. Contract employees with contract period of less than one
year and temporary employees, previously included in the number of employees, have been excluded. Previously reported numbers have been ad-
justed accordingly.