International Briquettes Holding
and Its Subsidiaries
Consolidated Statement of Operations
(Thousands of U.S. dollars, except share and per share data)
 
Years ended September 30,
1999
1998
1997
(Notes 2-a and 2-b)
Net Sales -
Exports
47.924
45.022
85.245
Domestic (Note 4)
4.538
38.468
55.723
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52.462
83.490
140.968
Cost of sales (Note 4)
(61.852)
(67.647)
(109.198)
Gross profit (loss)
(9.390)
15.843
31.770
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General and administrative expenses (Note 4)
(6.567)
(7.103)
(13.966)
Operating income (loss)
(15.957)
8.740
17.804
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Interest income, net (Notes 4 and 7)
8.041
8.855
5.319
Equity in losses of affiliates (Note 7)
(6.721)
(307)
-
Foreing exchange gain (loss), net (Note 2-a)
233
(618)
(2.223)
Other income (expense), net
(346)
679
453
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1.207
8.609
3.549
Income (loss) before taxes and minority interest
(14.750)
17.349
21.353
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Estimated tax benefit (expense) (Note 9)
(310)
(2.283)
3.790
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Income (loss) before minority interest
(15.060)
15.066
25.143
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Minority interest
167
(726)
(5.573)
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Net income (loss)
(14.893)
14.340
19.570
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Basic and diluted net income (loss) per share (in U.S. dollars)
(0,749)
0,737
1,191
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Weighted average number of shares outstanding
19.897.467
19.464.577
16.434.344
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The accompanying notes form an integral part of the consolidated financial statements