Vtech 2002 Annual Report Download - page 68

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VTech Holdings Ltd66
VTech in the Last Five Years
Consolidated income statement for the years ended 31st March
1998 1999 2000 2001 2002
Note US$ million US$ million US$ million US$ million US$ million
Turnover (i) 841.7 960.6 1,045.9 1,334.9 959.8
Cost of sales (ii) (524.5) (611.6) (723.2) (1,013.6) (671.0)
Gross profit 317.2 349.0 322.7 321.3 288.8
Selling and distribution costs (145.1) (163.5) (179.7) (275.2) (153.8)
Administrative and other operating expenses (iii) & (iv) (55.8) (58.4) (54.1) (69.2) (65.0)
Research and development expenses (ii) (30.1) (40.3) (42.7) (66.6) (33.0)
Loss on disposal of subsidiaries (6.6) ————
Restructuring and impairment charges ———(110.4) (14.0)
Operating profit/(loss) 79.6 86.8 46.2 (200.1) 23.0
Net finance (costs)/income 1.0 1.1 1.3 (12.5) (8.6)
Share of results of associates ——(0.1) (0.5) (0.5)
Profit/(loss) before taxation 80.6 87.9 47.4 (213.1) 13.9
Taxation (v) (11.0) (5.5) (2.5) (1.8) (2.6)
Profit/(loss) after taxation 69.6 82.4 44.9 (214.9) 11.3
Minority interest —(0.1) (0.1) (0.1) (0.1)
Profit/(loss) attributable to shareholders 69.6 82.3 44.8 (215.0) 11.2
Earnings/(loss) per share (in US cents) (vi) & (vii) 32.3 38.6 21.0 (96.7) 5.0
(i) Turnover includes the following amounts attributable
to discontinued operations: 14.9 ————
(ii) Depreciation on moulds for new products that
ultimately go into production for the years ended
31st March 1998 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: 5.3 7.5 7.8 ——
(iii) Administrative and other operating expenses have
been adjusted for the effect of IAS 19 (revised in 1998)
by the following amounts: 0.4 0.6 ———
(iv) Administrative and other operating expenses have
been adjusted for the effect of IAS 40 by the
following amounts: 0.2 (0.4) (0.2) ——
(v) Taxation has been adjusted for the effect of IAS 12
(revised in 1996) by the following amounts: (0.1) ————
(vi) The earnings per share for the years ended 31st March 1998 to 31st March 1999 have been adjusted for the scrip dividend issued on
8th February 2000.
(vii) The earnings per share for the years ended 31st March 1998 to 31st March 1999 have been adjusted for the effect of IAS 12 (revised in 1996)
on the taxation charges and IAS 19 (revised in 1998) on administrative and other operating expenses set out in (iii) & (v) above.