The 2009 quarter included a $225,000 extraordinary gain
and the 2008 quarter included a $268,000 extraordinary gain
This is because the extraordinary gain
under tracing is limited only to recognized BIG, while it captures gain recognized on assets purchased after the subsidiary joined the group.
Insurance proceeds received to reimburse costs of reconstructing the Junction, Texas, facility following a March 2003 fire resulted in a $173,536 extraordinary gain
for 2004 compared with an extraordinary gain
5) To allow relief for economic loss, loss disallowance does not apply to stock of a subsidiary to the extent the loss exceeds a share's allocable part of the sum of (1) the aggregate earnings and profits resulting in positive investment adjustments and distributions from current earnings and profits (determined without regard to extraordinary gain
dispositions described below) for all consolidated return years, (2) earnings and profits from certain extraordinary gains
after November 18, 1990, net of directly related expenses, for all consolidated return years, and (3) the amount of duplicated loss (Prop.
2007 second 2007 second quarter quarter Un-audited Un-audited Rmb '000 USD '000 Net sales 987,370 129,712 Gross profit 304,582 40,013 Income from operations 223,078 29,306 Income before income tax and minority interests 959,960 126,111 Net income after extraordinary gain
887,029 116,530 Basic earnings per share of common stock after extraordinary gain
Net income after an extraordinary gain
was $574,264, compared with $108,233 for the first quarter of 2003.
1) earnings and profits derived from extraordinary gain
Specifically, Hitachi plans to post an extraordinary gain
on the sale of subsidiary and affiliated company shares, extraordinary loss for business restructuring and impairment losses on certain assets.
3) Income before income taxes and extraordinary gain
Net income after extraordinary gain
for the quarter ended March 31, 2004 was $574,264, as compared to $108,233 for the quarter ended March 31, 2003, a $466,031 increase.
For the fourth quarter of 2003, the Company reported income before extraordinary gain
Net income before the extraordinary gain
decreased from 2002 to 2003 primarily because plastic raw material prices increased significantly and our Junction, Texas plant sales declined due to the fire.