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| SSANGYONG MOTOR COMPANY |
| STATEMENTS OF INCOME FOR THE
YEARS ENDED DECEMBER 31, 2005 AND 2004 |
 |
|
| |
Korean
Won |
Translation
into
U.S. Dollar |
| |
2005 |
2004 |
2005 |
2004 |
| SALES
|
3,435,466,470 |
3,297,855,323 |
$ 3,391,379 |
$ 3,255,533 |
| COST
OF SALES |
2,804,183,849
|
2,665,962,860 |
2,768,197 |
2,631,750 |
| GROSS
PROFIT |
631,282,621
|
631,892,463 |
623,182 |
623,783 |
| SELLING
AND ADMINISTRATIVE EXPENSES |
633,395,959
|
600,849,611 |
625,267 |
593,139 |
| OPERATING
INCOME (LOSS) |
(2,113,338) |
31,042,852 |
(2,085) |
30,644 |
| OTHER
INCOME (EXPENSES) : |
Interest
income |
6,369,584
|
7,892,292 |
6,288 |
7,791 |
| Interest expense |
(31,803,487)
|
(37,367,700)
|
(31,395)
|
(36,888) |
| Reversal of allowance
for doubtful accounts (bad deft expense), net |
5,816,194
|
31,503,989
|
5,742 |
31,100 |
| Loss on disposal of
trading securities |
(71,635) |
(2,578,332) |
(71) |
(2,545) |
| Gain using the equity method, net |
201,154
|
283,249
|
199 |
280 |
| Loss on disposal of investments, net |
(191,648)
|
(41,019)
|
(189)
|
(40) |
| Loss on disposal of property, plant and equipment, net |
(3,966,339)
|
(12,342,038) |
(3,915)
|
(12,184) |
| Impairment loss of property, plant and equipment |
(49,902,536)
|
(3,021,785)
|
(49,263)
|
(2,983) |
| Recovery of impairment loss of property, plant and equipment |
6,033,648
|
17,767,566
|
5,956
|
17,540 |
| Gain (loss) on foreign
currency transactions, net |
15,169,072
|
2,208,550 |
14,974 |
2,180 |
| Gain (loss) on foreign currency translation, net |
3,505,109
|
(1,137,571)
|
3,460
|
(1,123) |
| Reparation for product warranty expenses |
11,847,362
|
16,620,007 |
11,695 |
16,407 |
| Depreciation expense on assets not in use |
(222,562)
|
(174,022) |
(220) |
(172) |
Fees earned
|
1,512,480
|
6,535,495 |
1,493 |
6,452 |
Donations
|
(191,178)
|
(1,013,460)
|
(189)
|
(1,000) |
Others, net
|
(21,230,535)
|
2,116 |
(20,959)
|
1 |
| |
(57,125,317) |
25,137,337 |
(56,394) |
24,816 |
ORDINARY
INCOME (LOSS)
|
(59,238,655)
|
56,180,188 |
(58,479) |
55,460 |
INCOME (LOSS) BEFORE INCOME TAX
|
(59,238,655)
|
56,180,188 |
(58,479)
|
55,460 |
INCOME TAX EXPENSE
|
(44,121,531)
|
(44,791,451) |
(43,555) |
(44,217) |
NET
INCOME (LOSS)
|
(103,360,186) |
11,388,737 |
$ (102,034) |
$ 11,243 |
ORDINARY
INCOME (LOSS) PER SHARE
|
(856) |
94 |
$ (0.85) |
$ 0,09 |
EARNINGS
PER SHARE
|
(856)
|
94 |
$ (0,85) |
$ 0,09 |
|
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