Ubisoft 2004 Annual Report Download - page 60

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58
UBISOFT > 2005 FINANCIAL REPORT
Accounts are now converted at the closing rate rather than
the historical rate. The impact on the financial statements
as of March 31 is not significant.
Provisions for risk and charges
Provisions for risk and charges are made when risk and
charges that relate to a clearly determined objective, but
which are not certain to arise, are made more likely by
events that have occurred or are in progress.
As of March 31, 2005, provisions for risk and charges
involve:
lretirement;
llitigation;
lbadwill.
Earnings per share
Earnings per share
This figure is the ratio of net income to the weighted
average number of shares in circulation.
Diluted earnings per share
This figure is obtained by dividing:
lnet earnings before dilution, plus the after-tax amount
of any savings in financial costs resulting from the
conversion of the diluting instruments;
lby the weighted average number of ordinary shares in
circulation plus the number of shares that would be
created as a result of the conversion of convertible
instruments into shares and the exercising of rights.
Net earnings as of March 31, 2005 K€ 20,022
After tax savings Financial costs relating to bond debentures K€ 2,781
After tax savings on amortization of redemption premium K€ 1,693
After tax savings on amortization of cost related to issuing debt securities K€ 396
Restated net income K€ 24,892
Weighted average number of shares in circulation as of March 31, 2005 17,778,855
Potential conversions:
-Share subscription warrants 2,532,020
-Convertible bond 784,272
-Bonds exchangeable or convertible to new or existing shares (OCEANE) 1,814,025
-Stock options 1,516,939
Weighted average number of shares after exercise of rights relating to diluting instruments 24,426,111
Diluted earnings per share on March 31, 2005 = €1.02