Consolidated Statements of Income
NSK Ltd. and Consolidated Subsidiaries
| Millions of yen | Thousands of U.S. dollars (Note 2) |
||
| Year ended March 31, | 2007 | 2006 | 2007 |
|---|---|---|---|
| Net sales | ¥717,225 | ¥628,474 | $6,078,178 |
| Cost of sales (Note 5 and 12) | 551,069 | 487,717 | 4,670,076 |
| Gross profit | 166,155 | 140,757 | 1,408,093 |
| Selling, general and administrative expenses (Note 5 and 12) | 103,772 | 98,204 | 879,424 |
| Operating income | 62,383 | 42,552 | 528,669 |
| Other income (expenses): | |||
| Interest and dividend income | 2,425 | 1,795 | 20,551 |
| Interest expense | (5,473) | (4,566) | (46,381) |
| Equity in earnings of affiliates | 3,925 | 3,727 | 33,263 |
| Loss on disposal of inventories | (1,302) | (2,446) | (11,034) |
| Gain on sales of investment securities | - | 5,879 | - |
| Gain on sales of property, plant and equipment | 1,342 | 1,681 | 11,373 |
| Gain on sales of stocks of affiliates | 540 | - | 4,576 |
| Cost related to business restructuring | (2,441) | (2,499) | (20,686) |
| Cost related to environmental safety measures | - | (909) | - |
| Other, net | (4,363) | (2,145) | (36,975) |
| (5,346) | 516 | (45,305) | |
| Income before income taxes and minority interests | 57,037 | 43,068 | 483,364 |
| Income taxes (Note 7): | |||
| Current | 17,371 | 11,925 | 147,212 |
| Deferred | 2,827 | 4,486 | 23,958 |
| 20,198 | 16,412 | 171,169 | |
| Minority interests in earnings of consolidated subsidiaries | 1,985 | 1,069 | 16,822 |
| Net income (Note 16) | ¥ 34,853 | ¥ 25,586 | $ 295,364 |
The accompanying notes are an integral part of these statements.