Note: 1 U.S. dollar = 1,800 Italian Income Statement for the year ending December 31, 2000 (thousands of Italian liras) Revenues 56,112,408 Private brand 9,934,848 Premium brand 46,177,560 Costs of goods sold (*) 33,233,867 Gross margin 22,878,541 Marketing expenses 4,155,980 R&D expenses 3,328,130 Selling expenses 3,574,710 Administrative expenses 4,752,000 Interest expense 3,825,000 Profits 3,242,721 Taxes (40%) 1,297,089 Net profit 1,945,632 (*) includes 2,593,700 depreciation