GOLDAŞ KUYUMCULUK SANAYİ  İTHALAT İHRACAT ANONİM ŞİRKETİ											1,395835
INFLATION ADJUSTED INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2004
(Currency-USD)
						CURRENT PERIOD		PREVIOUS PERIOD
						DECEMBER 31,2004		DECEMBER 31,2003
																										######
	A-GROSS SALES						515.705.738		189.711.025																0
		1-Domestic Sales				452.877.093		161.497.851				607.806.347												0
		2-Export Sales				61.974.203		27.800.547				83.175.578												0
		3-Other Income				854.441		412.628				1.146.745												0
																								0	0
	B-SALES DEDUCTIONS (-)						-																	0	0
		1-Sales Returns(-)				-						-												0
		2-Sales Discounts (-)				-						-												0
		3-Other Deductions (-)				-						-												0
																								0
	C-NET SALES						515.705.738		189.711.025															0
																								0
	D-COST OF SALES (-)						(500.601.721)		(178.126.884)			(671.857.570)												0	######
																								0
		GROSS INCOME							-															0
									-															0
		4-Diğer Satışların Maliyeti (-)							-															######								Not Bl. 11
									-															######								Not Bl. 11
		GROSS PROFIT					15.104.016		11.584.142															######								Not Bl. 11
																								0	######
	E-OPERATIONAL EXPENSES (-)						(6.135.697)		(5.173.848)															0
		1-Research and Development Expenses (-)				(175.821)		(363.336)				(235.970)												0
		2-Marketing and Selling Expenses(-)				(1.365.410)		(871.116)				(1.832.517)												0
		3-General Administrative Expenses (-)				(4.594.466)		(3.939.396)				(6.166.233)												0
																								0
		GROSS OPERATIONAL PROFIT					8.968.319		6.410.294															0
									-															######								Not Bl. 22
	F-OTHER OPERATIONAL INCOME AND PROFITS						9.332.440		20.437.308															0
		1-Dividend Income From Participations				-						-												0	0
		2-Dividend Income  From Associated Companies				-						-												0
		3-Interest and Other Dividend Income				3.065		14				4.114												0		######
		4-Other Operational Income and Profits				9.329.375		20.437.294				12.520.954												0	######
																								0
	G-OTHER OPERATIONAL EXPENSES (-)						(7.676.955)		(16.241.967)			(10.303.241)												0
																								0
																						4-		######								Not,3
																						5-		0
																						6-		0
	H-FINANCIAL EXPENSES (-)								-															0	0
		1-Financial Expenses (Short Term)(-)							-															0
		2-Financial Expenses (Long Term) (-)							-															0	######
																								######								Not,13
	H-FINANCIAL EXPENSES (-)						(3.454.814)		(4.576.914)															0
		1-Short Term Financial Expenses (-)				(3.454.814)		(4.576.914)				(4.636.706)												0
		2-Long Term Financial Expenses (-)				-						-												0
																								0
		NET OPERATIONAL PROFIT					7.168.989		6.028.720															0
																								0
	I-EXTRAORDINARY INCOME AND PROFITS						222.984		55.970															0
		1-Reversal of Prior Period Provisions				-						-												0	0
		2-Previous Period Income and Profits				-						-												0
		3-Other Extraordinary Income and Profits				222.984		55.970				299.266												0
																								0
	J-EXTRAORDINARY EXPENSES AND LOSSES						-		(163)															0
		1-Non Operational Division Expenses and Losses (-)				-						-												0
		2-Previous Period Expenses and Losses (-)				-		(163)				-												0
		3-Other Extraordinary Expense and Losses (-)				-						-												0
																								0
	K- MONETARY GAIN/(LOSS)						(4.783.303)		(7.070.825)			(6.419.671)												0
																								0
		NET INCOME/( LOSS) BEFORE TAXATION					2.608.670		(986.298)															0	0
	L-TAX PROVIISONS																							0
		1-Current Year Tax Provision ( - )																						0
		NET INCOME/(LOSS) FOR THE PERIOD					2.608.670		(986.298)															0
																								0
																								0
																								0	0
					(The accompanying notes form an integral part on these statements)																			######	######	######						0