Letter To Shareholders - Mitac
Letter To Shareholders - Mitac
Letter To Shareholders - Mitac
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MITAC INTERNATIONAL CORP. AND SUBSIDIARIES<br />
CONSOLIDATED STATEMENTS OF INCOME<br />
FOR THE YEARS ENDED DECEMBER 31,<br />
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS,<br />
EXCEPT EARNINGS PER SHARE)<br />
2009 2008<br />
Operating revenues-net (Note 5) $ 63,369,191 $ 64,735,047<br />
Operating costs (Note 5) ( 55,448,087 ) ( 57,026,587 )<br />
Gross profit 7,921,104 7,708,460<br />
Operating expenses (Note 6)<br />
Selling expenses ( 4,232,206 ) ( 4,332,872 )<br />
Administrative expenses ( 1,938,313 ) ( 1,648,786 )<br />
Research and development expenses ( 2,882,570 ) ( 2,534,270 )<br />
( 9,053,089 ) ( 8,515,928 )<br />
Operating loss ( 1,131,985 ) ( 807,468 )<br />
Non-operating income and gains<br />
Interest income 39,294 248,812<br />
Gain on valuation of financial assets (Note 4 (2)) 14,316 11,977<br />
Gain on valuation of financial liabilities (Note 4 (12)) 82,973 -<br />
Investment income accounted for under the equity<br />
method (Note 4 (7)) 1,179,658 1,059,436<br />
Dividend income 83,868 174,566<br />
Gain on disposal of property, plant and equipment<br />
161,409 -<br />
(Note 5)<br />
Gain on disposal of investment 216,690 122,826<br />
Foreign exchange gain, net - 204,320<br />
Other income (Note 5) 124,125 87,848<br />
1,902,333 1,909,785<br />
Non-operating expenses and losses<br />
Interest expense ( 53,452 ) ( 144,368 )<br />
Loss on valuation of financial liabilities (Note 4 (12)) - ( 67,185 )<br />
Loss on disposal of property, plant and equipment - ( 45,157 )<br />
Foreign exchange loss, net ( 22,290 ) -<br />
Impairment loss (Note 4 (4)) ( 50,856 ) -<br />
Other losses ( 43,710 ) ( 48,868 )<br />
( 170,308 ) ( 305,578 )<br />
Income before income tax 600,040 796,739<br />
Income tax expense (Note 4 (21)) ( 310,878 ) ( 337,450 )<br />
Consolidated net income $ 289,162 $ 459,289<br />
Attributable to:<br />
Consolidated net income $ 289,162 $ 459,289<br />
Before<br />
income tax<br />
After<br />
income tax<br />
Before<br />
income tax<br />
After<br />
income tax<br />
Basic earnings per share (in NT dollars) (Note 4 (22))<br />
Consolidated net income attributable to the Company $ 0.25 $ 0.19 $ 0.42 $ 0.31<br />
Diluted earnings per share (in NT dollars)<br />
Consolidated net income attributable to the Company $ 0.20 $ 0.14 $ 0.37 $ 0.25<br />
The accompanying notes are an integral part of these consolidated financial statements.<br />
~94~
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