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Statutory financial statements at December 31, 2010
Calculation of taxable IRAP
(in Euros) Amount Tax
Difference between value and cost of production (1,109,054)
Temporary differences, net 11,255,555
Taxable IRAP 10,146,501 437,000
Total IRAP 437,000
Net changes refer to:
non deductible differences amounting to 14,217 thousand Euros mainly due to personnel expenses;
deductible differences amounting to 1,318 thousand Euros mainly due to service costs and amortization;
deductions amounting to 1,644 thousand Euros related mainly to tax rates.
Note 15 - Earnings per share
Basic earnings per share
Basic earnings per share at December 31, 2010 was calculated with reference to the profit for the period which
amounted to 14,043,415 Euros (11,127,575 Euros at December 31, 2009) divided by the weighted average number
of shares outstanding during the year which were 9,071,664 (9,041,267 at December 31, 2009).
(in Euros) 2010 2009
Net profit for the year 14,043,415 11,127,575
Weighted average number of shares 9,071,664 9,041,267
Basic earnings per share 1.55 1.23
Diluted earnings per share
Diluted earnings per share at December 31, 2010 was calculated with reference to the profit for the period which
amounted to 14,043,415 575 Euros divided by the weighted average number of shares outstanding during the year
taking in consideration the diluting effect which could derive from hypothetical exercising of financial instruments
potentially convertible in shares (stock options).
(in Euros) 2010 2009
Net profit for the year 14,043,415 11,127,575
Weighted average number of shares 9,071,664 9,041,267
Diluting effect 168,400 168,400
Weighted number of diluted shares 9,240,064 9,209,667
Diluted earnings per share 1.52 1.21
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