Yamaha 2011 Annual Report Download - page 62

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60 Yamaha Corporation
Consolidated Statements of Operations
Yamaha corporation and consolidated subsidiaries Millions of yen
Thousands of
U.S. dollars (Note 3)
Years ended March 31, 2011 and 2010 2011 2010 2011
Net sales ¥373,866 ¥414,811 $4,496,284
Cost of sales (Notes 8, 9, and 11)237,313 268,380 2,854,035
Gross profit 136,553 146,431 1,642,249
Selling, general and administrative expenses (Notes 10 and 11)123,387 139,602 1,483,909
Operating income 13,165 6,828 158,328
Other income (expenses):
Interest and dividend income 1,010 786 12,147
Interest expenses (351) (451) (4,221)
Sales discounts (2,349) (2,804) (28,250)
Gain (loss) on sales or disposal of property,
plant and equipment, net (Note 12)(207) 21 (2,489)
Gain (loss) on sales of investment securities 138 (13) 1,660
Loss on impairment of fixed assets (Note 13)(2,687) (1,962) (32,315)
Other, net (Note 14)(1,916) (2,605) (23,043)
(6,362) (7,029) (76,512)
Income (loss) before income taxes and minority interests 6,802 (201) 81,804
Income taxes (Note 24):
Current 4,349 3,084 52,303
Deferred (2,990) 1,265 (35,959)
1,359 4,349 16,344
Income (loss) before minority interests (Note 2)5,443 (4,550) 65,460
Minority interests in income 364 371 4,378
Net income (loss) ¥ 5,078 ¥ (4,921) $ 61,070
See notes to consolidated financial statements.