ANNUAL REPORT 2004 - Luxottica Group
ANNUAL REPORT 2004 - Luxottica Group
ANNUAL REPORT 2004 - Luxottica Group
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INDEPENDENT AUDITORS’ <strong>REPORT</strong><br />
STATEMENTS OF CONSOLIDATED INCOME FOR THE YEARS ENDED<br />
DECEMBER 31, 2002, 2003 AND <strong>2004</strong><br />
Net sales<br />
Cost of sales<br />
Gross profit<br />
Operating expenses<br />
Selling and advertising<br />
General and administrative<br />
Total<br />
Income from operations<br />
Other income (expenses)<br />
Interest income<br />
Interest expense<br />
Other - net<br />
Other income (expenses) - net<br />
Income before provision<br />
for income taxes<br />
Provision for income taxes<br />
Income before minority<br />
interests in consolidated<br />
subsidiaries<br />
Minority interests in income<br />
of consolidated subsidiaries<br />
Net income<br />
Net income basic<br />
Net income diluted<br />
Weighted average number of shares<br />
outstanding (thousands)<br />
Basic<br />
Diluted<br />
96<br />
2002<br />
(Euro thousands)<br />
3,201,788<br />
(946,134)<br />
2,255,654<br />
(1,360,340)<br />
(293,806)<br />
(1,654,146)<br />
601,508<br />
5,036<br />
(65,935)<br />
(1,167)<br />
(62,066)<br />
539,442<br />
(162,696)<br />
376,746<br />
(4,669)<br />
372,077<br />
Euro 0.82<br />
Euro 0.82<br />
453,174.0<br />
455,353.5<br />
2003<br />
(Euro thousands)<br />
2,852,194<br />
(903,617)<br />
1,948,577<br />
(1,235,757)<br />
(281,033)<br />
(1,516,790)<br />
431,787<br />
5,922<br />
(47,117)<br />
(799)<br />
(41,994)<br />
389,793<br />
(117,328)<br />
272,465<br />
(5,122)<br />
267,343<br />
Euro 0.60<br />
Euro 0.59<br />
448,664.4<br />
450,202.1<br />
<strong>2004</strong><br />
(Euro thousands)<br />
3,255,300<br />
(1,040,697)<br />
2,214,603<br />
(1,376,546)<br />
(345,243)<br />
(1,721,789)<br />
492,814<br />
6,662<br />
(56,115)<br />
13,792<br />
(35,661)<br />
457,153<br />
(161,665)<br />
295,488<br />
(8,614)<br />
286,874<br />
Euro 0.64<br />
Euro 0.64<br />
448,275.0<br />
450,360.9<br />
<strong>2004</strong><br />
(US$ thousands) (1)<br />
4,407,025<br />
(1,408,896)<br />
2,998,129<br />
(1,863,568)<br />
(467,390)<br />
(2,330,958)<br />
667,171<br />
9,019<br />
(75,968)<br />
18,672<br />
(48,277)<br />
618,894<br />
(218,862)<br />
400,032<br />
(11,661)<br />
388,371<br />
US$ 0.87<br />
US$ 0.86<br />
In accordance with U.S. GAAP<br />
(1) Translated for convenience at<br />
the New York City Noon Buying<br />
Rate as determined in Note 1.
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