Together we make things happen - Philippine Ports Authority

S T A T E M E N T O F I N C O M E A N D E X P E N S E SFor the Year Ended December 31, 2008Notes 2008As Restated2007REVENUESICTSI Fees 26 2,411,851,509 2,164,984,125Wharfage Dues 27 1,357,002,790 1,314,896,698Share in Arrastre/Stevedoring Income 28 1,169,754,022 1,106,622,892Dockage Fees 29 326,426,552 390,407,328Port Dues 30 285,559,283 306,797,597Storage Charges 31 231,012,699 196,023,512Port Usage Fees 32 202,725,688 183,463,225Terminal Fees 33 173,755,971 108,706,653Vessel Traffic Management Service Fees 34 10,478,446 10,352,927Pilotage 35 1,971,030 3,354,479Lay-up Fees 36 756,336 685,815Other Income 37 339,459,016 312,049,3356,510,753,342 6,098,344,586OPERATING EXPENSESPersonal Services 38 1,047,598,699 1,043,267,094Maintenance and Other Operating Expenses 39 2,962,088,728 2,523,270,8304,009,687,427 3,566,537,924INCOME FROM OPERATIONS 2,501,065,915 2,531,806,662Philippine Ports Authority • Annual Report 2008 3 6OTHER INCOME (LOSS AND EXPENSES)Fund Management Income 40 99,908,715 128,794,100Other General Income 41 15,090,396 19,301,535Gain (Loss) on Revaluation 42 (3,111,290,692) 359,393,735Financial Expenses 43 (536,440,585) (274,800,079)(3,532,732,166) 232,689,291INCOME(LOSS) BEFORE INCOME TAX (1,031,666,251) 2,764,495,953INCOME TAX 44 69,843,215 57,851,909NET INCOME(LOSS) (1,101,509,466) 2,706,644,044See accompanying Notes to Financial Statements.