AS PENNU COMPUTER TECHNOLOGY GROUP

INCOME STATEMENT

01.10-31.12.98

 

unconsolidated, unaudited

                                          01.10-31.12.98  01.10-31.12.97  01.01-31.12.98  01.01-31.12.97

 

REVENUES

Net sales		                      42,520,198      59,136,554     148,201,359     179,682,555

Other revenues                                   718,527       1,241,052       3,542,509       2,974,563

Total revenues                                43,238,725      60,377,606     151,743,868     182,657,118

 

EXPENSES

Raw materials, goods and services             42,851,502      52,756,271     141,145,895     161,338,504

Operating expenses                             5,569,711       1,483,663      10,861,725       5,239,139

Personnel expenses

  a) salary expenses                             863,020       1,155,580       3,455,735       3,463,591

  b) social taxes                                287,294         380,800       1,144,030       1,142,718

Depreciation    

  a) Depreciation on non-current assets          203,496         200,878         763,537         669,967

  b) Value adjustments of current assets         118,425          13,746         335,890          33,744

Other expenses                                   598,205         687,244       3,306,924       1,321,634

Total expenses                                50,491,653      56,678,182     161,013,736     173,209,297

 

COMMERCIAL PROFIT                             -7,252,928       3,699,424      -9,269,868       9,447,821

 

FINANCIAL REVENUES

  a) income from subsidiaries                    305,058         464,616        -223,466       1,057,533

  b) income from affiliated enterprises           43,792          55,885         472,624         840,539

  c) profit from exchange differences            255,156           9,467         331,971          48,086

  d) other interest and financial income         505,207         934,462       4,719,348       2,571,792

Total financial revenues                       1,109,213       1,464,430       5,300,477       4,517,950

 

FINANCIAL EXPENSES

  a) financial expenses related to 

     subsidiaries          		      14,713,297                      15,420,000

  b) financial expenses related to affiliated

     enterprises		                 505,340                         554,167

  c) interest expenses                           654,945         859,562       3,173,949       2,275,519

  d) loss from exchange differences               18,030          20,622          55,183          45,073

  e) Value adjustments of financial investm.   8,455,600                       8,455,600

  f) other financial expenses                         25                           5,545          50,507

Total financial expenses                      24,347,237         880,184      27,664,444       2,371,099

 

OPERATING PROFIT                             -30,490,952       4,283,670     -31,633,835      11,594,672

PROFIT BEFORE INCOME TAX                     -30,490,952       4,283,670     -31,633,835      11,594,672

 

INCOME TAX                                       -61,693         984,113         -96,197       2,456,081

 

Deferred income tax                                                              230,524

 

PROFIT AFTER INCOME TAX                      -30,429,259       3,299,557     -31,768,162       9,138,591