Australian Government: Grains Research and Development CororationGRDC Annual Report 2005-2006

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Income statement

for the year ended 30 June 2006

Notes 2006 2005
$'000 $'000
INCOME
Revenue
Revenues from Government 5A 43,065 35,742
Interest 5B 5,673 7,599
Industry contributions 5C 60,861 64,193
Project refunds 5D 1,533 1,238
Royalties 5E 3,516 1,150
Other 5F 488 69
Total revenue 115,136 109,991
Gains
Reversal of previous asset write-downs 5G - 10
Total gains - 10
TOTAL INCOME 115,136 110,001
EXPENSES
Research and development 6A 115,329 106,355
Employees 6B 5,473 5,234
Suppliers 6C 5,325 5,528
Depreciation and amortisation 6D 424 361
Write-down and impairment of assets 6E 169 2,050
TOTAL EXPENSES 126,720 119,528
Operating result before income tax (11,584) (9,527)
Income tax equivalent expense - -
OPERATING RESULT (11,584) (9,527)
The Income Statement is to be read in conjunction with the notes to and forming part of the financial statements.

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