EX-99.7 8 w98143exv99w7.htm EXHIBIT 99.7 exv99w7
 

Exhibit 99.7

FLAMEL TECHNOLOGIES — Financial year ended on 12/31/2003

FINANCIAL RESULTS OF THE COMPANY DURING THE LAST FIVE FINANCIAL YEARS

(Only for Stock Corporations)

In euros

        12/1999   12/2000   12/2001   12/2002   0.00599101
a)
   Share capital     1,578,056.49       1,975,445.35       1,975,445.34       1,975,445.34       2,608,783.07  
b)
   Outstanding common shares     12,939,215       16,197,590       16,197,590       16,197,590       21,391,590  
c)
   Number of outstanding shares with priority dividends                                        
d)
   Maximum number of authorized future shares                                        
 
   - by way of conversion of bonds                                        
 
   - by way of exercise of subscription rights     595,875       1,415,000       2,110,000       2,535,000       4,415,000  
 
   (warrants granted to directors and stock-options)                                        
    SHARE CAPITAL AT CLOSE OF FINANCIAL YEAR                          
                                             
a)
   Pre-tax net sales     10,171,253.12       10,187,579.27       14,615,521.74       19,503,640.86       37,680,303.02  
b)
   Result before deduction of taxes,                                        
 
   employees' mandatory profit-sharing,                                        
 
   depreciation and reserves     -4,745,218.26     -6,556,102.30     -1,872,827.33     4,070,438.96       13,826,400.73  
c)
   Corporate tax     15,244.90       54,544.07       15,244.90       -585,075.87     -444,583.00
d)
   Employees' mandatory profit sharing for                                        
 
   the financial year                                        
e)
   Result after deduction of taxes,                                        
 
   employees' profit sharing, depreciation                                        
 
   and reserves     -6,252,697.79     -7,028,717.47     -2,850,032.26     3,429,405.22       12,800,853.77  
f)
   Amount of profit distributed                                        
    OPERATIONS AND RESULTS FOR THE FINANCIAL YEAR                          
                                             
a)
   Result after deduction of taxes and                                        
 
   employees' mandatory profit-sharing,                                        
 
   depreciation and reserves     -0.37     -0.41     -0.12     0.29       0.6  
b)
   Result after deduction of taxes and                                        
 
   employees' mandatory profit-sharing,                                        
 
   depreciation and reserves     -0.48       -0.43       -0.18       0.21       0.6  
c)
   Dividend allocated to each share                                        
    RESULTS PER SHARE                                
                                             
a)
   Average number of employees during the                                        
 
   financial year     113       137       140       139       166  
b)
   Amount of the salaries     3,973,990.33       4,731,279.60       4,883,341.03       5,441,633.23       6,449,859.79  
c)
   Amount of the sums paid in relation with                                        
 
   social benefits (social security, social                                        
 
   works, etc ...)     1,862,578.86       2,092,038.30       2,037,944.41       2,323,893.56       2,872,888.98  
    PERSONNEL