Sony 2003 Annual Report Download - page 140

Consolidated Financial Information 2003
54
Quarterly Financial and Stock Information
Sony Corporation and Consolidated Subsidiaries
Year ended March 31
(Unaudited)
Yen in billions except per share amounts
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
2002 2003 2002 2003 2002 2003 2002 2003
Sales and operating revenue. . . . . . ¥1,633.5 ¥1,721.8 ¥1,780.9 ¥1,789.7 ¥2,279.3 ¥2,307.7 ¥1,884.6 ¥1,654.4
Operating income (loss) . . . . . . . . . . 3.0 51.9 (3.4) 50.5 158.6 199.5 (23.6) (116.5)
Income (loss) before
income taxes . . . . . . . . . . . . . . . . . (14.3) 116.6 0.6 48.8 119.3 201.9 (12.8) (119.7)
Income taxes . . . . . . . . . . . . . . . . . . 20.3 53.6 14.8 (14.9) 39.0 65.5 (8.9) (23.4)
Income (loss) before cumulative
effect of accounting changes . . . . (36.1) 57.2 (13.2) 44.1 64.0 125.4 (5.5) (111.1)
Net income (loss) . . . . . . . . . . . . . . . (30.1) 57.2 (13.2) 44.1 64.0 125.4 (5.5) (111.1)
Per share data of common stock
Income (loss) before cumulative
effect of accounting changes
—Basic . . . . . . . . . . . . . . . . . . . ¥ (39.26) ¥62.23 ¥(14.34) ¥47.89 ¥69.72 ¥136.19 ¥(5.91) ¥(120.47)
—Diluted . . . . . . . . . . . . . . . . . . (39.26) 57.90 (14.34) 44.70 64.87 126.05 (5.91) (120.47)
Net income (loss)
—Basic . . . . . . . . . . . . . . . . . . . . . (32.75) 62.23 (14.34) 47.89 69.72 136.19 (5.91) (120.47)
—Diluted . . . . . . . . . . . . . . . . . . . . (32.75) 57.90 (14.34) 44.70 64.87 126.05 (5.91) (120.47)
Depreciation and amortization* . ¥80.0 ¥83.3 ¥87.5 ¥83.7 ¥94.6 ¥88.7 ¥92.0 ¥96.2
Capital expenditures
(additions to fixed assets) . . . . . . . 86.1 60.7 93.3 67.0 75.2 56.9 72.1 76.6
R&D expenses . . . . . . . . . . . . . . . . . 103.2 97.9 123.2 108.3 98.9 105.6 107.9 131.4
Tokyo Stock Exchange price per
share of common stock**:
High . . . . . . . . . . . . . . . . . . . . . . ¥10,200 ¥ 7,450 ¥ 8,150 ¥ 6,300 ¥ 6,200 ¥ 5,540 ¥ 7,200 ¥ 5,110
Low . . . . . . . . . . . . . . . . . . . . . . . 8,100 5,810 4,210 4,850 3,980 4,870 5,540 4,080
New York Stock Exchange price
per American Depositary Share**:
High . . . . . . . . . . . . . . . . . . . . . . $ 85.50 $59.70 $65.75 $53.17 $49.86 $45.29 $56.59 $43.31
Low . . . . . . . . . . . . . . . . . . . . . . . 65.80 48.63 33.20 40.51 33.72 39.88 41.00 34.86
* Including amortization expenses for intangible assets and for deferred insurance acquisition costs.
**Stock price data are based on daily closing prices.
Notes: 1. On April 1, 2002, Sony adopted Statement of Financial Accounting Standards (“FAS”) No.144, “Accounting for the Impairment or
Disposal of Long-Lived Assets.” The adoption of the provision of FAS No.144 did not have a material impact on Sony’s results of
operations and financial position for the year ended March 31, 2003.
2. In April 2002, the Financial Accounting Standards Board (“FASB”) issued FAS No.145, “Rescission of FASB Statements No.4, 44
and 64, Amendment of FASB Statement No.13, and Technical Corrections.” Sony elected for the early adoption of this statement
retroactive to April 1, 2002. The adoption of this statement did not have an impact on Sony’s results of operations and financial
position.
3. In June 2002, the FASB issued FAS No.146, “Accounting for Costs Associated with Exit or Disposal Activities” which nullifies
Emerging Issues Task Force (“EITF”) Issue No.94-3, “Liability Recognition for Certain Employee Termination Benefits and Other
Costs to Exit an Activity (including Certain Costs Incurred in a Restructuring).” Sony adopted FAS No.146 on January 1, 2003. The
impact of the adoption of this statement on Sony’s results of operations and financial position was immaterial.
4. In November 2002, the FASB issued FASB Interpretation (“FIN”) No.45, “Guarantor’s Accounting and Disclosure Requirements for
Guarantees, Including Indirect Guarantees of Indebtedness of Others, an interpretation of FASB Statements No.5, 57, and 107 and
rescission of FASB Interpretation No.34.” The initial recognition and initial measurement provisions of FIN No.45 did not have
material effect on Sony’s results of operations and financial position as at and for the year ended March 31, 2003.
5. In December 2002, the FASB issued FAS No.148, “Accounting for Stock-Based Compensation — Transition and Disclosure — an
Amendment of FASB Statement No.123.” Sony has accounted for its employee stock-based compensation in accordance with
Account ing Principles Board Opinion (“APB”) No.25, “Accounting for Stock Issued to Employees” and, therefore, the adoption of
the provisions of FAS No.148 did not have an impact on Sony’s results of operations and financial position.