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| SSANGYONG MOTOR COMPANY |
| STATEMENTS OF INCOME FOR THE
YEARS ENDED DECEMBER 31, 2006 AND 2005 |
 |
|
| |
Korean Won
(In thousands, except per share amounts) |
Translation into
U.S. Dollar
(In thousands, except per share amounts) |
| |
2006 |
2005 |
2006 |
2005 |
| SALES
|
2,951,836,878 |
3,403,697,398 |
$ 3,175,384 |
$ 3,661,464 |
| COST
OF SALES |
2,386,681,403 |
2,804,183,849 |
2,567,428 |
3,016,549 |
| GROSS
PROFIT |
565,155,475 |
599,513,549 |
607,956 |
644,915 |
| SELLING
AND ADMINISTRATIVE EXPENSES |
537,885,775 |
601,626,887 |
578,621 |
647,189 |
| OPERATING
INCOME (LOSS) |
27,269,700 |
(2,113,338) |
29,335 |
(2,274) |
| OTHER
INCOME (EXPENSES) : |
Interest
income |
5,799,461
|
6,369,584 |
6,239 |
6,852 |
| Interest expense |
(38,592,680)
|
(31,803,487)
|
(41,515)
|
(34,212) |
| Reversal of allowance
for doubtful accounts (bad deft expense), net |
(842,969)
|
5,816,194 |
(907) |
6,257 |
| Loss on disposal of
trading securities |
(93,891) |
(71,635) |
(101) |
(77) |
| Gain using the equity method, net |
211,676
|
201,154
|
228 |
216 |
| Loss on disposal of investments, net |
(26,371)
|
(191,648)
|
(28)
|
(206) |
| Loss on disposal of property, plant and equipment, net |
(1,804,474)
|
(3,966,339) |
(1,941)
|
(4,267) |
| Recovery of impairment loss of property, plant and equipment |
(6,994,532) |
(43,868,888) |
(7,524) |
(47,191) |
| Gain (loss) on foreign
currency transactions, net |
3,042,740 |
15,169,072 |
3,273 |
16,318 |
| Gain (loss) on foreign currency translation, net |
246,071
|
3,505,109
|
265
|
3,771 |
| Reparation for product warranty expenses |
8,292,753
|
11,847,362 |
8,921 |
12,745 |
| Depreciation expense on assets not in use |
(205,637)
|
(222,562) |
(221) |
(239) |
Fees earned
|
27,374,051
|
1,512,480 |
29,447 |
1,627 |
Donations
|
(661,185)
|
(191,178)
|
(711)
|
(206) |
Others, net
|
(80,742,570)
|
(21,230,535) |
(86,860)
|
(22,840) |
| |
(84,997,557) |
(57,125,317) |
(91,435) |
(61,452) |
ORDINARY
INCOME (LOSS)
|
(57,727,857)
|
(59,238,655) |
(62,100) |
(63,726) |
INCOME (LOSS) BEFORE INCOME TAX
|
(57,727,857)
|
(59,238,655) |
(62,100)
|
(63,726) |
INCOME TAX EXPENSE
|
(138,233,898)
|
(44,121,531) |
(148,702) |
(47,462) |
NET
INCOME (LOSS)
|
(195,961,755) |
(103,360,186) |
$ (210,802) |
$(111,188) |
ORDINARY
INCOME (LOSS) PER SHARE
|
(1,622) |
(856) |
$ (2) |
$(1) |
EARNINGS
PER SHARE
|
(1,622)
|
(856) |
$ (2) |
$ (1) |
|
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