> Profit and loss accounts
<30>
(In euro million)
As of 31 January
Note
2003
2002
2001
Sales
(14)
760.6
575.0
514.4
Operating expenses
Cost of sales
(236.0)
(162.3)
(148.4)
R&D expenses
(33.4)
(32.8)
(30.9)
Sales and marketing expenses
(195.1)
(162.4)
(144.4)
Administrative expenses
(100.2)
(78.7)
(72.0)
Service and other operating expenses
(61.4)
(54.0)
(47.5)
Employee profit sharing
(1.6)
(1.5)
(1.7)
Including depreciation of
(66.4)
(45.5)
(45.6)
Operating profit
(15)
132.9
83.3
69.5
Financial income
Interest income
3.6
5.1
5.6
Gains on foreign exchange
21.4
9.8
5.6
Financial expenses
Interest expenses
(29.6)
(24.6)
(25.6)
Losses on foreign exchange
(20.4)
(9.0)
(8.5)
(Increase)/decrease in financial provisions
Net financial income (expenses)
(25.0)
(18.7)
(22.9)
Net income before taxes
107.9
64.6
46.6
Net extraordinary profit (loss)
(16)
0.2
(1.6)
8.0
Income taxes
(13)
(33.3)
(20.9)
(15.1)
Results of associated companies
0.7
0.5
0.8
Minority interests
0.1
0.0
(0.1)
Goodwill amortization
(5.7)
(4.5)
(4.2)
Net income
69.7
38.1
36.0
Net income per share
(17)
2.30
1.26
1.19
Fully diluted net income per share
(17)
2.04
1.13
1.08
The following notes are an integral part of these consolidated financial statements.
