TomTom 2009 Annual Report Download - page 54

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52 / CONSOLIDATED STATEMENT OF INCOME OF TOMTOM NV
for the year ended 31 December
(€ in thousands) Notes 2009 20082
Revenue 51,479,660 1,674,013
Cost of sales 6748,624 893,309
Gross result 731,036 780,704
Operating expenses
Research and development expenses 139,441 122,590
Amortisation of technology and databases 74,998 47,697
Marketing expenses 86,363 142,979
Selling, general and administrative expenses1198,779 214,654
Impairment charge 13 01,047,776
Stock compensation expense 22 10,567 5,564
Total operating expenses 8510,148 1,581,260
Operating result 220,888 -800,556
Interest result 9-70,815 -52,055
Other financial result 9-41,202 72,148
Result of associates 15 2,603 -13,455
Result before tax 111,474 -793,918
Income tax 10 25,088 78,130
Net result 86,386 -872,048
Attributable to:
– Equity holders of the parent 86,767 -872,585
– Minority interest -381 537
Net result 86,386 -872,048
Earnings per share (in €)312
Basic 0.47 -5.89
Diluted40.47 -5.89
1 Selling, general and administrative expenses include restructuring costs of €10.3 million in 2009 and €16.5 million in 2008.
2 Due to the acquisition of Tele Atlas in June 2008, the 2008 figures include only 7 months of Tele Atlas results.
3 The earnings per share for 2008 have been adjusted for the effect of the rights issue which took place in July 2009.
4 In 2008 no additional shares from assumed conversion are taken into account as the effect would be anti dilutive.
The notes on pages 57 to 87 are an integral part of these consolidated financial statements.