| |
CONSOLIDATED FINANCIAL STATEMENTS
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CONSOLIDATED STATEMENTS OF INCOME
for the years ended December 31,
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(in thousands except for per
share and exchange rate data) |
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Note |
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20031) |
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2003 |
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2002 |
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2001 |
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US$ |
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€ |
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€ |
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€ |
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Software revenue |
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2,705,321 |
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2,147,591 |
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2,290,834 |
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2,580,518 |
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Maintenance revenue |
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3,235,926 |
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2,568,807 |
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2,422,786 |
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2,121,250 |
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Product revenue |
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5,941,247 |
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4,716,398 |
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4,713,620 |
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4,701,768 |
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Consulting revenue |
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2,460,772 |
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1,953,459 |
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2,204,191 |
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2,082,855 |
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Training revenue |
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377,067 |
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299,331 |
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413,904 |
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466,224 |
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Service revenue |
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2,837,839 |
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2,252,790 |
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2,618,095 |
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2,549,079 |
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Other revenue |
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69,810 |
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55,418 |
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81,123 |
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89,957 |
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Total revenue |
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8,848,896 |
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7,024,606 |
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7,412,838 |
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7,340,804 |
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Cost of product |
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– 1,056,940 |
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– 839,041 |
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– 860,373 |
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– 887,429 |
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Cost of service |
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– 2,134,010 |
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– 1,694,062 |
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– 1,955,785 |
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– 1,965,000 |
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Research and development |
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– 1,254,587 |
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– 995,941 |
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- 909,390 |
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– 898,251 |
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Sales and marketing |
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– 1,777,441 |
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– 1,411,004 |
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– 1,627,235 |
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– 1,797,546 |
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General and administration |
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– 445,988 |
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– 354,043 |
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– 399,269 |
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– 385,990 |
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Other operating expense, net |
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– 8,183 |
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– 6,496 |
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– 35,108 |
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– 94,214 |
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Total operating expenses |
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– 6,677,149 |
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– 5,300,587 |
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– 5,787,160 |
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– 6,028,430 |
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Operating income |
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2,171,747 |
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1,724,019 |
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1,625,678 |
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1,312,374 |
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Other non-operating
income/expense, net |
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45,738
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36,309
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37,319
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– 10,643
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Financial income/expense, net |
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20,517 |
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16,287 |
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– 555,299 |
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– 232,974 |
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Income before income taxes, minority interest
and extraordinary gain |
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2,238,002 |
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1,776,615 |
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1,107,698 |
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1,068,757 |
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Income taxes |
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– 872,519 |
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– 692,640 |
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– 598,705 |
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– 476,293 |
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Minority interest |
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– 8,707 |
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– 6,912 |
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– 6,155 |
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– 11,328 |
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Income before
extraordinary gain |
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1,356,776 |
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1,077,063 |
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502,838 |
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581,136 |
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Extraordinary gain, net of tax |
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0 |
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0 |
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5,776 |
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0 |
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Net Income |
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1,356,776 |
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1,077,063 |
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508,614 |
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581,136 |
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Earnings per share – basic |
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4.37 |
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3.47 |
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1.62 |
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1.85 |
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Earnings per share – diluted |
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4.36 |
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3.46 |
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1.62 |
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1.85 |
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1) The 2003 figures have been translated solely for the convenience of the reader at an exchange rate of
€1 to US$ 1.2597, the Noon Buying Rate certified by the Federal Reserve Bank of New York on December 31, 2003.
See Notes to Consolidated Financial Statements. | |
|
