| |
 |
|
|
|
|
|
|
| December 31, |
|
2003 |
|
|
2002 |
|
ASSETS |
|
|
|
|
|
|
| Current Assets |
|
|
|
|
|
|
| Cash |
$ |
234,192 |
|
$ |
168,110 |
|
| Short-term investments |
|
2,874,781 |
|
|
1,567,906 |
|
| Receivables less allowance for doubtful accounts |
|
|
|
|
|
|
| (2003 – $128,199; 2002 – $172,871) |
|
2,568,425 |
|
|
3,489,406 |
|
| Inventories |
|
796,559 |
|
|
1,043,057 |
|
| Deferred taxes |
|
315,350 |
|
|
435,887 |
|
| Other current assets |
|
341,973 |
|
|
481,074 |
|
| Assets held for sale |
|
3,237,841 |
|
|
– |
|
|
|
|
|
|
|
|
| |
|
10,369,121 |
|
|
7,185,440 |
|
| Fixed Income Investments, held to maturity |
|
223,300 |
|
|
407,500 |
|
| Investments in Affiliated Companies |
|
776,965 |
|
|
687,524 |
|
| Fixed Assets less accumulated depreciation |
|
3,799,711 |
|
|
4,663,756 |
|
| Multiclient Seismic Data |
|
505,784 |
|
|
1,018,483 |
|
| Goodwill |
|
3,284,254 |
|
|
4,229,993 |
|
| Intangible Assets |
|
403,319 |
|
|
558,664 |
|
| Deferred Taxes |
|
316,277 |
|
|
147,013 |
|
| Other Assets |
|
362,595 |
|
|
536,822 |
|
|
|
|
|
|
|
|
| |
$ |
20,041,326 |
|
$ |
19,435,195 |
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
| Current Liabilities |
|
|
|
|
|
|
| Accounts payable and accrued liabilities |
$ |
3,247,545 |
|
$ |
4,580,762 |
|
| Estimated liability for taxes on income |
|
807,938 |
|
|
625,058 |
|
| Dividend payable |
|
110,511 |
|
|
109,565 |
|
| Long-term debt – current portion |
|
889,678 |
|
|
452,577 |
|
| Bank & short-term loans |
|
521,490 |
|
|
682,956 |
|
| Liabilities held for sale |
|
1,217,568 |
|
|
– |
|
|
|
|
|
|
|
|
| |
|
6,794,730 |
|
|
6,450,918 |
|
| Long-term Debt |
|
6,097,418 |
|
|
6,028,549 |
|
| Postretirement Benefits |
|
614,850 |
|
|
544,456 |
|
| Other Liabilities |
|
254,709 |
|
|
251,607 |
|
|
|
|
|
|
|
|
| |
|
13,761,707 |
|
|
13,275,530 |
|
|
|
|
|
|
|
|
| Minority Interest |
|
398,330 |
|
|
553,527 |
|
|
|
|
|
|
|
|
| Stockholders’ Equity |
|
|
|
|
|
|
| Common Stock |
|
2,258,488 |
|
|
2,170,965 |
|
| Income retained for use in the business |
|
5,505,744 |
|
|
5,560,712 |
|
| Treasury stock at cost |
|
(1,508,239 |
) |
|
(1,578,358 |
) |
| Accumulated other comprehensive loss |
|
(374,704 |
) |
|
(547,181 |
) |
|
|
|
|
|
|
|
| |
|
5,881,289 |
|
|
5,606,138 |
|
|
|
|
|
|
|
|
| |
$ |
20,041,326 |
|
$ |
19,435,195 |
|
|
|
|
|
|
|
|
|
|
