Letter To Shareholders - Mitac
Letter To Shareholders - Mitac
Letter To Shareholders - Mitac
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Income before<br />
income tax<br />
Amount<br />
For the year ended December 31, 2008<br />
Earnings per share (in dollars)<br />
Weighted<br />
Average<br />
Outstanding<br />
Common<br />
Shares<br />
(in thousands Income before<br />
Net income of shares) income tax Net income<br />
Basic earnings<br />
per share:<br />
Net income $ 796,739 $ 459,289<br />
Consolidated net<br />
income<br />
attributable to<br />
Majority<br />
stockholders $ 635,444 $ 459,289 1,502,941 $ 0.42 $ 0.31<br />
Less: effect of<br />
dilutive<br />
potential<br />
common stocks<br />
issued by<br />
investee<br />
companies ( 58,634 ) ( 58,634 )<br />
Effect of dilutive<br />
potential<br />
common stocks:<br />
Convertible bonds - - 64,956<br />
Employee stock<br />
options - - 1,678<br />
Employees’ bonus - - 1,938<br />
Diluted earnings<br />
per share<br />
Net income<br />
attributable to<br />
common<br />
stockholders<br />
plus dilutive<br />
effect of<br />
common stock<br />
equivalents $ 576,810 $ 400,655 1,571,513 $ 0.37 $ 0.25<br />
a. Effective January 1, 2009, as employees’ bonus could be distributed in the form<br />
of stock, the diluted EPS computation shall include those estimated shares that<br />
would be increased from employees’ stock bonus issuance in the<br />
weighted-average number of common shares outstanding during the reporting<br />
year, which taking into account the dilutive effects of stock bonus on potential<br />
common shares; whereas, basic EPS shall be calculated based on the<br />
weighted-average number of common shares outstanding during the reporting<br />
year that include the shares of employees’ stock bonus for the appropriation of<br />
prior year earnings, which have already been resolved at the stockholders’<br />
meeting held in the reporting year. Since capitalization of employees’ bonus no<br />
longer belongs to distribution of stock dividends (or retained earnings and capital<br />
reserve capitalized), the calculation of basic EPS and diluted EPS for all periods<br />
presented shall not be adjusted retroactively. However, the accounting treatment<br />
for the appropriation of employees’ bonus for 2008 earnings resolved at the<br />
stockholders’ meeting held in 2009 is still in accordance with the regulations on<br />
capitalization of employees’ bonus under paragraphs 19 and 39 of R.O.C. SFAS<br />
No. 24, “Earnings per Share”.<br />
b. The weighted-average outstanding common stock for 2009 and 2008 excluded<br />
~132~
Change language