Docstoc

FINAL

Document Sample
FINAL Powered By Docstoc
					AXIS Corporation
Historical Key Numbers
Income Statement
(Expressed in Thousands New Taiwan Dollars                                   2002                           2003
Except For Per-Share Amounts)                                               Annual                         Annual
Net operating income                                                       $ 732,554                      $ 794,780
Operating costs                                                              496,282                        560,940
 Gross income from operations                                                236,272                        233,840
Operating Expenses
 Selling                                                                        41,964                         33,884
 Administrative                                                                 41,580                         42,724
 Research and development                                                       12,725                         12,371
                                                                                96,269                         88,979

 Income from operations                                                        140,003                        144,861

Nonoperating income                                                             82,305                         53,213

Nonoperating expenses                                                         15,500                          9,518
Income before income tax                                                     206,808                        188,556
Income tax expense                                                            63,973                         37,448
Net income                                                                 $ 142,835                      $ 151,108

                                                              Before            After        Before            After
                                                              Income tax        Income tax   Income tax        Income tax

Primary net income per share                              $      5.86              4.05 $       4.28              3.43
Primary net income per share—retroactive adjustment       $      5.06              3.50


Balance Sheet
(Expressed in Thousands New Taiwan Dollars)
    ASSETS                                                                 31-Dec-02                      31-Dec-03
Current assets:
   Cash                                                                    $ 165,555                      $ 111,150
   Short-term Investments                                                     86,761                         55,000
   Notes and accounts receivable, net of allowance                           199,488                        138,459
   Accounts receivable from related parties                                   24,403                         37,828
   Other receivables from related parties                                          0                         79,848
   Other financial assets-current                                                619                          1,088
   Inventories, net of allowance                                               2,569                         13,987
   Other current assets                                                        5,559                          1,559
                                                                             484,954                        438,919

Long-term equity investments                                                   200,406                        299,820

Property and equipment                                                         169,820                        159,966

Other assets                                                                  23,463                         19,226
  Total Assets                                                             $ 878,643                      $ 917,931

    Liabilities and Stockholders' Equity                                   31-Dec-02                      31-Dec-03
Current liabilities:
   Short-term borrowings                                                   $     2,819                    $       -
   Notes and accounts payable                                                   81,548                         75,806
   Accounts payable due to related parties                                      53,211                         37,986
   Income tax payable                                                           54,498                         10,867
   Other current liabilities                                                    25,046                         23,095
                                                                               217,122                        147,754
Deferred tax liability and others                                               16,538                         24,794
                   Total liabilities                                           233,660                        172,548

Stockholders' equity:
    Common stock                                                               380,380                        440,000
    Capital surplus:
      Additional paid-in capital                                                95,895                         95,895
      Capital surplus from gain on sale of fixed assets                            183                            183
      Stockholders’ equity of investees                                          1,835                          8,936
                                                                                97,913                        105,014
    Retained earnings:
       Legal reserve                                                           6,728                         21,011
       Undistributed earnings                                                145,750                        176,914
                                                                             152,478                        197,925
    Cumulative foreign currency translation adjustments                       14,212                          2,444
                   Total stockholders' equity                                644,983                        745,383
Total liabilities and stockholders’ equity                                 $ 878,643                      $ 917,931
AXIS Corporation
Historical Key Numbers
Income Statement
(Expressed in Thousands New Taiwan Dollars                                2002                           2003
Except For Per-Share Amounts)                                            Annual                         Annual
Net operating income                                                    $ 732,554                      $ 794,780
Operating costs                                                           496,282                        560,940
 Gross income from operations                                             236,272                        233,840
Operating Expenses
 Selling                                                                     41,964                         33,884
 Administrative                                                              41,580                         42,724
 Research and development                                                    12,725                         12,371
                                                                             96,269                         88,979

 Income from operations                                                     140,003                        144,861

Nonoperating income:
     Investment gain recognized by equity method - net                       10,741                                0

     Dividend income                                                         61,071                                0

     Gain on sales of short-term investments                                         0                      42,910

     Other income                                                            10,493                         10,303

                                                                             82,305                         53,213

Nonoperating expenses:
     Interest expenses                                                           791                               79

     Investment loss recognized by equity method - net                               0                       4,330

     Loss on sales of short-term investments                                 10,248                                0

     Foreign exchange loss                                                     4,055                         5,097

     Other losses                                                             406                             12
                                                                           15,500                          9,518
Income before income tax                                                  206,808                        188,556
Income tax expense                                                         63,973                         37,448
Net income                                                              $ 142,835                      $ 151,108

                                                              Before         After            Before       After
                                                          Income tax         Income tax   Income tax       Income tax

Primary net income per share                                     5.86           4.05      $     4.28          3.43
Primary net income per            share—retroactive       $     5.06            3.50
adjustment


Balance Sheet
(Expressed in Thousands New Taiwan Dollars)
    ASSETS                                                              31-Dec-02                      31-Dec-03
Current assets:
   Cash                                                                 $ 165,555                      $111,150
   Short-Term Investment                                                   86,761                        55,000
   Notes and accounts receivable, net of allowance                        199,488                       138,459
   Accounts receivable from related parties                                24,403                        37,828
   Other receivables from related parties                                       0                        79,848
   Other financial assets-current                                             619                         1,088
   Inventories, net of allowance                                            2,569                        13,987
   Other Current Assets                                                     5,559                         1,559
                                                                          484,954                       438,919

Long-term equity investments:
   Long-term investments under equity method                                194,471                     293,885
   Long-term investments under cost method                                    5,935                       5,935
                                                                            200,406                     299,820

Property and equipment:
    Land                                                                     45,181                      45,181
    Buildings and related equipment                                         112,360                     113,025
    Office and miscellaneous equipment                                       20,900                      20,789
                                                                            178,441                     178,995
    Less: accumulated depreciation                                          (12,489)                    (19,029)
    Prepayment for business facilities                                        3,868                         -
                                                                            169,820                     159,966

Other assets:
    Rental assets                                                          15,282                        15,076
    Deferred pension cost and others                                        8,181                         4,150
                                                                           23,463                        19,226
  Total Assets                                                          $ 878,643                      $917,931

    Liabilities and Stockholders' Equity                                31-Dec-02                      31-Dec-03
Current liabilities:
   Short-term borrowings                                                $     2,819                    $    -
   Notes and accounts payable                                                81,548                      75,806
   Accounts payable due to related parties                                   53,211                      37,986
   Income tax payable                                                        54,498                      10,867
   Other current liabilities                                                 25,046                      23,095
                                                                            217,122                     147,754
Deferred tax liability and others                                            16,538                      24,794
                  Total liabilities                                         233,660                     172,548

Stockholders' equity:
    Common stock                                                            380,380                     440,000
    Capital surplus:
      Additional paid-in capital                                             95,895                      95,895
      Capital surplus from gain on sale of fixed assets                         183                         183
      Stockholders’ equity of investees                                       1,835                       8,936
                                                                             97,913                     105,014
    Retained earnings:
      Legal reserve                                                         6,728                        21,011
      Undistributed earnings                                              145,750                       176,914
                                                                          152,478                       197,925
    Cumulative foreign currency translation adjustments                    14,212                         2,444
                    Total stockholders' equity                            644,983                       745,383
Total liabilities and stockholders’ equity                              $ 878,643                      $917,931

				
DOCUMENT INFO