STATEMENTS OF INCOME

For the Years Ended December 31, 2010 and 2009, 2008, 2007, 2006, 2005

Korea Maritime Consultants Co,. Ltd (UNIT : Million KRW)

2010Y 2009Y 2008Y 2007Y 2006Y 2005Y
DESCRIPTION
Amounts Amounts Amounts Amounts Amounts Amounts
Sales 17,252 25,997 30,828 22,417 11,725 8,532
1)Design of Vessel 12,977 20,790 24,628 17,697 7,416 4,375
2)Supervision of Vessel 2,419 1,958 2,307 3,262 2,899 3,023
3)Supervision of Iron Bridge 501 811 921 896 1,198 1,133
4)Others 1,356 2,437 2,972 563 212
Cost of Sales 9,751 12,422 0 17,816 0 13,195 7,349 5,725
Salaries Expenses 6,063 7,451 8,442 5,679 4,586
Severance Benefits 518 588 500 482 0
Cost of Outsourcing 1,267 2,233 6,648 5,659 2,007
Employee Benefits 586 594 331 41 0
Travel Expenses 317 442 562 385 458
Entertainment Expenses 70 73 108 54 126
Communication Expenses 13 17 23 3 0
Depreciation Expenses 90 107 164 58 39
Rental Expenses 196 214 149 68 0
Vehicles Maintenance Expenses 19 13 16 1 0
Freight Expenses 2 5 8 0 8
Amortization Expenses on Intangible Assets 257 254 254 189 37
Training Expenses 37 0 2 7 0
Publication Expenses 13 38 100 29 59
Supplies Expenses 44 71 65 31 0
Service Fees 137 114 134 455 0
Advertising Expenses 0 0 1 2 0
Miscellaneous Administrative Expenses 52 50 56 51 0
Taxes and Dues 68 151 149 0 0
Miscellaneous Expenses 0 2 0 1 29
Repairs Expenses 1 5 102 0 0
Insurance Premium 0 1 2 0
Gross Profit 7,501 13,575 0 13,013 0 9,222 4,376 2,807
Selling and Administrative Expenses 5,556 4,377 0 4,479 0 4,476 2,731 2,666
Salaries Expenses 1,486 1,678 1,760 1,458 951 955
Severance Benefits 251 72 90 570 0 535
Employee Benefits 242 278 579 510 267 231
Travel Expenses 149 132 106 143 256 4
Entertainment Expenses 146 131 114 158 86 39
Communication Expenses 54 67 72 85 61 64
Taxes and Dues 134 67 78 95 208 189
Depreciation Expenses 95 110 223 237 206 192
Rental Expenses 243 237 267 223 261 247
Repairs Expenses 21 1 49 60 8 1
Insurance Premium 111 172 126 73 46 77
Vehicles Maintenance Expenses 31 34 26 33 33 29
Publication Expenses 25 32 24 27 10 6
Supplies Expenses 13 15 92 99 38 29
Service Fees 333 192 203 209 98 39
Advertising Expenses 22 27 14 10 18 12
Utility Expenses 1 1 1 1 0
Freight Expenses 2 2 2 5 0
Miscellaneous Expenses 1 1 8 7 20 17
Training Expenses 1 1 3 2 1
Bad Debt Expenses 0 1 22
R&D Expenses 350 1,028 574 470 140
Amortization Expenses on Intangible Assets 15 11 7 0
Bad Debt Expenses 1,828 90 59 0
Operating Income 1,945 9,198 0 8,534 0 4,746 1,645 141
2009Y 2009Y 2008Y 2007Y 2006Y 2005Y
DESCRIPTION
Amounts Amounts Amounts Amounts Amounts Amounts
Non-operating Revenues 984 3,364 0 1,902 0 141 92 0 98
Interest Revenues 679 525 457 120 76 83
Miscellaneous Revenues 12 6 15 5 13 15
Gains on Foreign Currency Translation 23 344 8 3
Gains on Disposition of Property, Plant, and Equipment 6 2 0 1
Fees Revenues 25 45 0 0
Gains on Foreign Currency Transaction 84 56 1,010 4 0
Dividends Income 20 20 14 3
Gains on Disposition of Short-term Financial Instrument 35 2,732 0
Gain on Valuation of Short-term Financial Instrument 22
Gains on Disposition of long-term Financial Instrument 87
Rental Revenues 15
Gains on Disposition of Investments 15 0
Non-operating Expenses 500 1,065 5,056 0 128 120 0 48
Interest Expenses 28 53 90 80 58 23
Losses on Foreign Currency Transaction 337 152 0 0 13 1
Miscellaneous Losses 17 0 67 26 37 2
Donations 16 16 15 15 12 22
Other Bad debt Expenses 66
Losses on Disposition of Intangible Assets 1 0 0
Losses on Foreign Currency Translation 41 67 0 8 0
Losses on Valuation of Long-term Financial Instruments 28 578
Losses on Disposition of Long-term Financial Instruments 31
Losses on Disposition of Investment Securities 2 124
Losses on Disposition of Marketable Securities 10
Losses on Valuation of Marketable Securities 4,883
Ordinary Income 2,428 11,497 5,380 4,758 1,617 191
Extraordinary Losses 0 0 0 0 200 41
Other 200 41
Income Before Tax Expenses 2,428 11,497 5,380 4,758 1,417 150
Income Tax Expenses 377 2,350 1,217 1,087 268 117
Net Income 2,051 9,147 4,163 3,672 1,149 33

5TH Floor, Young Pung Building 142, Nonhyeon 1-Dong, Gangnam-Gu Seoul, 135-749, KOREA

KOREA MARITIME CONSULTANTS CO.,LTD

CEO Dong Shik SHIN