SAMPO- About SAMPO- Financial Report- Statements of Income

SAMPO CORPORATION

STATEMENTS OF INCOME

YEARS ENDED DECEMBER 31, 1996 AND 1995

(In Thousands of New Taiwan Dollars, Except Per Share Data)

	1996	1995
OPERATING REVENUES:
Sales (Note 2)	$19,855,180	$18,804,780
Less:
Sales returns	(1,338,410)	(1,051,234)
Sales discounts	(417,510)	(383,033)
Net sales	18,099,260	17,370,513
Service and processing revenue	263,083	241,986
Total operating revenues	18,362,343	17,612,499
COST OF OPERATING REVENUES	14,848,459	13,933,557
GROSS PROFIT	3,513,884	3,678,942
OPERATING EXPENSES	3,103,532	2,973,077
INCOME FROM OPERATIONS	410,352	705,865
NON-OPERATING INCOME(Note 22):
Interest income (Note 2)	47,881	73,356
Investment income, net	67,922	180,107
Gain on disposal of property, plant and equipment	155,759	74,286
Gain on sale of investments (Note 10)	101,791	40,833
Rental income (Note 11)	28,393	24,445
Recovery of short-term investment devaluation	46,700
Other	166,183	143,321
Total non-operating income	614,629	536,348
NON-OPERATING EXPENSES(Note 23):
Interest expenses	310,609	277,664
Foreign exchange losses	2,795	83,970
Losses on disposal of property, plant and equipment	2,108	101
Other	74,432	119,843
Total non-operating expenses	389,944	481,578
INCOME BEFORE INCOME TAX	635,037	760,635
(PROVISION) CREDIT FOR INCOME TAX (Notes 2 and 20)	(33,648)	4,827
NET INCOME	$601,389	$765,462
EARNINGS PER SHARE (Note 2 and 19)	$0.85	$1.10
See notes to financial statements.