Vtech 2001 Annual Report Download - page 68

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Consolidated income statement
for the years ended 31st March
1997 1998 1999 2000 2001
Note
US$
million
US$
million
US$
million
US$
million
US$
million
Turnover (i) 731.0 841.7 960.6 1,045.9 1,334.9
Cost of sales (iv) (486.2) (524.5) (611.6) (723.2) (1,013.6)
Gross profit 244.8 317.2 349.0 322.7 321.3
Selling and distribution costs (114.5) (145.1) (163.5) (179.7) (275.2)
Administrative and other operating
expenses (iii) (48.1) (56.0) (58.0) (53.9) (69.2)
Research and development
expenses (iv) (27.6) (30.1) (40.3) (42.7) (66.6)
Loss on disposal of subsidiaries Ð (6.6) Ð Ð Ð
Restructuring and impairment
charges ÐÐÐÐ(110.4)
Operating profit/(loss) 54.6 79.4 87.2 46.4 (200.1)
Net finance (costs)/income (3.3) 1.0 1.1 1.3 (12.5)
Share of results of associates (0.2) Ð Ð (0.1) (0.5)
Profit/(loss) before taxation 51.1 80.4 88.3 47.6 (213.1)
Taxation (ii) (6.6) (11.0) (5.5) (2.5) (1.8)
Profit/(loss) after taxation 44.5 69.4 82.8 45.1 (214.9)
Minority interests Ð Ð (0.1) (0.1) (0.1)
Profit/(loss) attributable to
shareholders 44.5 69.4 82.7 45.0 (215.0)
(Loss)/earnings per share (US¢) (v) & (vi) 21.5 32.3 38.6 21.0 (96.7)
(i) Turnover includes the
following amounts
attributable to discontinued
operations: 145.8 14.9 Ð Ð Ð
(ii) Taxation has been adjusted
for the effect of IAS 12
(revised 1996) by the
following amounts: 0.4 (0.1) Ð Ð Ð
(iii) Administrative and other
operating expenses have
been adjusted for the effect
of IAS 19 (revised 1998) by
the following amounts: 0.5 0.4 0.6 Ð Ð
(iv) Depreciation on moulds for
new products that ultimately
go into production for the
years ended 31st March
1997 to 31st March 2000 has
now been reclassified and
included within cost of sales
instead of within research
and development expenses
by the following amounts: 4.0 5.3 7.5 7.8 Ð
(v) The earnings per share for the years ended 31st March 1997 to 31st March 1999 have been adjusted for the scrip
dividend issued on 8th February 2000.
(vi) The earnings per share for the years ended 31st March 1997 to 31st March 1999 have been adjusted for the effect of
IAS 12 (revised 1996) on the taxation charges and IAS 19 (revised 1998) on administrative and other operating
expenses set out in (ii) & (iii) above.
VTech in the Last Five Years 66