Manila Electric CompanyPasig, Philippines (Pink Sheets: MERAY [ADR])

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Meralco Income Statement

All amounts in millions of except per share amounts.
View: Annual
Dec 04 Dec 03 Dec 02
Revenue 2,695.7 2,422.5 2,266.7
Cost of Goods Sold 2,179.9 1,974.8 2,026.1
Gross Profit 515.8 447.8 240.6
Gross Profit Margin 19.1% 18.5% 10.6%
SG&A Expense 498.1 340.2 171.4
Depreciation & Amortization 83.2 82.1 90.8
Operating Income 17.7 107.6 69.2
Operating Margin 0.7% 4.4% 3.1%
Nonoperating Income 7.8 3.8 --
Nonoperating Expenses 97.4 85.0 139.0
Income Before Taxes (71.9) 26.4 (69.9)
Income Taxes (27.6) 9.1 (32.3)
Net Income After Taxes (44.3) 17.4 (37.6)

Continuing Operations (44.3) 16.8 (37.6)
Discontinued Operations 0.0 0.0 0.0
Total Operations (44.3) 17.4 (37.6)
Total Net Income (46.4) 16.3 (37.6)
Net Profit Margin -- 0.7% --

Diluted EPS from Total Net Income ($) -- -- --
Dividends per Share -- -- --