| |
|
Year ended December 31, |
| |
|
2008 |
2009 |
2010 |
| Net sales |
|
|
|
| |
Manufactured products (sales to related parties amounted to $9,110 in 2007, $5,855 in 2008 and $4,144 in 2009 (note 15)) |
$ 447,848 |
$ 300,121 |
$418,623 |
| |
Distributed products |
32,415 |
28,102 |
27,107 |
| |
Sales, delivery and installation of wires and cables |
20,535 |
34,008 |
23,600 |
| |
|
500,798 |
362,231 |
469,330 |
| Costs of sales (purchases from related parties amounted to $69,240 in 2007, $57,401 in 2008 and $59,785 in 2009) |
|
|
|
| |
Manufactured products |
(410,581) |
(280,085) |
(360,567) |
| |
Distributed products |
(30,831) |
(26,585) |
(25,691) |
| |
Sales, delivery and installation of wires and cables |
(21,491) |
(33,119) |
(23,358) |
| |
Recovery (allowance) for inventory reserve |
(25,145) |
23,949 |
1,974 |
| |
|
(488,048) |
(315,840) |
(407,642) |
|
12,750 |
46,391 |
61,688 |
Selling, general and administrative expenses
|
(29,032) |
(28,715) |
(32,511) |
Recovery (allowance) for doubtful accounts
|
(12) |
860 |
1,317 |
Impairment of long-lived assets
|
— |
(77) |
− |
Income (loss) from operations
|
(16,294) |
18,459 |
30,494 |
Exchange gain (loss), net
|
(1,712 |
528 |
3,041 |
|
990 |
458 |
602 |
|
(5,769) |
(2,597) |
(2,561) |
Share of net (loss) gain of equity investees
|
(142) |
(40) |
(21) |
Impairment of investments
|
— |
— |
(346) |
Gain on sale of investments
|
— |
— |
− |
Gain on liquidation of subsidiaries
|
— |
568 |
— |
|
2,859 |
2,196 |
1,069 |
Income (loss) before income taxes
|
(20,068) |
19,572 |
32,278 |
|
(2,132) |
(5,344) |
(6,891) |
|
(22,200) |
14,228 |
25,387 |
Less: Net (loss) income attributable to non-controlling interests
|
8,551 |
(4,139) |
(11,247) |
Net income (loss) attributable to APWC
|
$ (13,649) |
$ (10,089) |
$ (14,140) |
| Basic and diluted income (loss) per share |
$ (0.99) |
$ 0.73 |
$1.02 |
| Basic and diluted weighted average common shares outstanding |
13,830,769 |
13,830,769 |
13,830,769 |
|
