Yamaha 2002 Annual Report Download - page 26

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Thousands of
Millions of Yen U.S. Dollars (Note 2)
2002 2001 2002
Net sales ......................................................................................................... ¥504,406 ¥519,104 $3,785,411
Cost of sales................................................................................................... 340,411 346,200 2,554,679
Gross profit.......................................................................................... 163,994 172,904 1,230,724
Selling, general and administrative expenses................................................... 152,951 149,902 1,147,850
Operating income ............................................................................... 11,043 23,001 82,874
Other income (expenses):
Interest and dividend income....................................................................... 736 1,137 5,523
Interest expense ........................................................................................... (2,911) (3,014) (21,846)
Sales rebates ................................................................................................ (4,477) (4,391) (33,599)
Gain on sale of marketable and investment securities.................................. 3,694 3,152 27,722
Loss on devaluation of investment securities................................................ (14,857) (513) (111,497)
Amortization of net retirement benefits obligation at transition.................... — (2,820) —
(Loss) gain on sale or disposal of properties, net .......................................... (1,672) 4,086 (12,548)
Equity in earnings of unconsolidated subsidiaries and affiliates .................. 2,993 2,433 22,462
Other, net (Note 6) ....................................................................................... (334) 420 (2,507)
......................................................................................................................... (16,829) 491 (126,296)
(Loss) income before income taxes and minority interests................... (5,784) 23,491 (43,407)
Income taxes:
Current......................................................................................................... 1,507 2,900 11,310
Deferred ....................................................................................................... 2,429 6,826 18,229
..................................................................................................................... 3,936 9,726 29,539
(Loss) income before minority interests............................................................ (9,720) 13,765 (72,946)
Minority interests.......................................................................................... 551 444 4,135
Net (loss) income ................................................................................ ¥ (10,274) ¥ 13,320 $ (77,103)
See notes to consolidated financial statements.
Yamaha Corporation Annual Report 2002 Consolidated Statements of Operations
24
Consolidated Statements of Operations
YAMAHA CORPORATION and Consolidated Subsidiaries
Years ended March 31, 2002 and 2001