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STATEMENT OF INCOME For the Months Ended December 31, 2011 and 2010 Year to Date Year to Date 2011 2010 EMILIA S. CANONIZADO ROBERTO V. GARCIA Manager, Accounting Dept. Chairman and CEO REVENUES Certified Correct by: Noted by: NET LOSS EXPENSES
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STATEMENT OF INCOME
For the Months Ended December 31, 2011 and 2010
Year to Date Year to Date
2011 2010
REVENUES
Leases 907,064,858 869,880,034
Port Services 301,736,875 357,009,924
Tourism Services 8,552,780 11,564,559
Other Operating Income 181,417,891 186,344,674
TOTAL REVENUES 1,398,772,404 1,424,799,191
EXPENSES
Manpower Services - PS 266,367,799 280,140,704
Maintenance and Other Operating Expenses 803,815,381 777,934,587
TOTAL EXPENDITURES 1,070,183,180 1,058,075,291
INCOME (LOSS) FROM OPERATIONS 328,589,224 366,723,900
OTHER INCOME (EXPENSES)
Interest Income 55,783,392 63,616,883
Interest on Loans (141,937,583) (148,142,591)
Guarantee Fee and Other Charges (113,805,555) (106,143,117)
INCOME (LOSS) FROM OPERATIONS BEFORE DEPRECIATION, FOREX 128,629,478 176,055,074
LOSS/GAIN & TAX
Depreciation Expense (676,523,406) (720,119,022)
Gain (Loss) on Foreign Exchange (565,757,043) (659,165,605)
INCOME (LOSS) BEFORE INCOME TAX (1,113,650,970) (1,203,229,553)
INCOME TAX 5,033,672 419,048
NET LOSS (1,118,684,641) (1,203,648,601)
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Certified Correct by: Noted by:
EMILIA S. CANONIZADO ROBERTO V. GARCIA
Manager, Accounting Dept. Chairman and CEO