TomTom 2011 Annual Report Download - page 42
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TomTom Annual Report and Accounts 2011
40
Consolidated Statement of Income
for the year ended 31 December
(€ in thousands) Notes 2011 2010
REVENUE 51,273,217 1,521,083
Cost of sales 6633,545 777,018
GROSS PROFIT 639,672 744,065
OPERATING EXPENSES
Research and development expenses 172,822 161,875
Amortisation of technology and databases 84,619 77,644
Marketing expenses 78,062 104,788
Selling, general and administrative expenses 208,917 199,941
Impairment charge 13 511,936 0
Stock compensation expense 7,985 13,495
TOTAL OPERATING EXPENSES181,064,341 557,743
OPERATING RESULT – 424,669 186,322
Interest result 9– 21,862 – 35,064
Other fi nancial result 96,093 – 15,962
Result of associates 15 – 432 – 1,270
RESULT BEFORE TAX – 440,870 134,026
Income tax 10 1,919 – 26,356
NET RESULT – 438,951 107,670
Attributable to:
– Equity holders of the parent – 437,844 107,768
– Non-controlling interests 23 – 1,107 – 98
NET RESULT – 438,951 107,670
EARNINGS PER SHARE (in €) 12
Basic – 1.97 0.49
Diluted – 1.97 0.49
1 Operating expenses in 2011 include restructuring expenses of €14.8 million (2010: €3.3 million).
The notes on pages 45 to 72 are an integral part of these Consolidated Financial Statements.