Consolidated Statements of Operations -
For the Years Ended December 31, 2007, 2006 and 2005
Download Statement of Operations (XLS 19KB)
(Amounts in thousands of U.S. Dollars, except share and per share amounts)
| Years ended December 31, | |||||
| 2007 | 2006 | 2005 | |||
| NET OPERATING REVENUE | |||||
| Services revenue and connection fees (including related party amounts of $100,771, $39,138 and $6,611, respectively) | 8,172,650 | 6,287,100 | 4,942,288 | ||
| Sales of handsets and accessories | 79,728 | 97,154 | 68,730 | ||
| 8,252,378 | 6,384,254 | 5,011,018 | |||
| Cost of services, excluding depreciation and amortization shown separately below (including related party amounts of $135,819, $113,732 and $78,253, respectively) | 1,727,365 | 1,223,715 | 732,867 | ||
| Cost of handsets and accessories | 158,580 | 209,260 | 254,606 | ||
| General and administrative expenses (including related party amounts of $40,599, $13,301 and $9,486, respectively) (Note 16) | 1,243,549 | 941,047 | 758,729 | ||
| Provision for doubtful accounts (Note 6) | 58,924 | 84,858 | 50,407 | ||
| Other operating expenses (including related party amounts of $8,349, $4,769 and $1,086, respectively) | 116,451 | 87,822 | 67,173 | ||
| Sales and marketing expenses (including related party amounts of $193,471, $171,792 and $80,146, respectively) | 724,115 | 607,835 | 608,092 | ||
| Depreciation and amortization expenses | 1,489,548 | 1,095,981 | 907,113 | ||
| Net operating income | 2,733,846 | 2,133,736 | 1,632,031 | ||
| CURRENCY EXCHANGE AND TRANSACTION GAINS | (163,092) | (24,051) | (10,319) | ||
| OTHER EXPENSES/(INCOME) | |||||
| Interest income (including related party amounts of $18,930, $4,844 and $5,440) | (38,100) | (13,055) | (24,828) | ||
| Interest expense, net of capitalized interest | 134,581 | 177,145 | 132,474 | ||
| Equity in net income of associates (Note 17) | (72,665) | (58,083) | (42,361) | ||
| Bitel investment and write off (Note 20) | — | 320,000 | — | ||
| Other expenses, net (including related party amounts of $nil, $2,460 and $2,070) | 44,034 | 65,913 | 13,211 | ||
| Total other expenses, net | 67,850 | 491,920 | 78,496 | ||
| Income before provision for income taxes and minority interest | 2,829,088 | 1,665,867 | 1,563,854 | ||
| PROVISION FOR INCOME TAXES (Note 13) | 738,270 | 576,103 | 410,590 | ||
| MINORITY INTEREST | 19,314 | 14,026 | 26,859 | ||
| NET INCOME | 2,071,504 | 1,075,738 | 1,126,405 | ||
| Weighted average number of common shares outstanding—basic | 1,973,354,348 | 1,987,610,121 | 1,986,819,999 | ||
| Weighted average number of common shares outstanding—diluted | 1,974,074,908 | 1,987,646,015 | 1,987,110,039 | ||
| Earnings per share, basic and diluted | 1.05 | 0.54 | 0.57 | ||
The accompanying notes to the consolidated financial statements are an integral part of these statements.