 |
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000)
|
|
|
|
(Unaudited) |
|
|
|
|
|
March 31, |
|
June 30, |
|
|
|
2005 |
|
2004 |
| ASSETS |
|
|
|
|
|
 |
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
254,765 |
$ |
211,077 |
| Accounts receivable, net |
|
|
161,464 |
|
85,456 |
| Inventory |
|
|
451,200 |
|
183,899 |
| Other assets and prepaids |
|
|
47,739 |
|
27,156 |
|
|
|
|
|
|
| Total current assets |
|
|
915,168 |
|
507,588 |
|
|
|
|
|
|
| Property and equipment, net |
|
|
117,699 |
|
106,198 |
| Investments |
|
|
196,013 |
|
209,291 |
| Other non-current assets |
|
|
47,125 |
|
117,771 |
|
|
|
|
|
|
| Total Assets |
|
$ |
1,276,005 |
$ |
940,848 |
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
| Accounts payable |
|
$ |
248,425 |
$ |
86,179 |
|
Accrued liabilities |
|
|
102,487 |
|
88,542 |
| Income taxes payable |
|
|
28,220 |
|
28,160 |
|
Current portion of long term obligations and others |
|
|
6,951 |
|
7,205 |
|
|
|
|
|
|
| Total current liabilities |
|
|
386,083 |
|
210,086 |
|
|
|
|
|
|
| Long term obligations |
|
|
206,083 |
|
35,614 |
| Minority interest in subsidiaries |
|
|
3,770 |
|
3,651 |
| Shareholders' equity |
|
|
680,069 |
|
691,497 |
|
|
|
|
|
|
| Total Liabilities and Shareholders' Equity |
|
$ |
1,276,005 |
$ |
940,848 |
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In US$'000, except per share data)
(Unaudited)
|
|
|
|
Three months ended |
|
Nine months ended |
|
|
|
March 31, |
|
March 31, |
|
|
|
2005 |
|
2004 |
|
2005 |
|
2004 |
|
|
|
|
|
|
|
|
|
|
| Sales, net |
|
$ |
333,840 |
$ |
201,835 |
$ |
919,002 |
$ |
613,073 |
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
256,519 |
|
132,278 |
|
674,734 |
|
398,120 |
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
77,321 |
|
69,557 |
|
244,268 |
|
214,953 |
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
51,208 |
|
42,477 |
|
148,207 |
|
126,902 |
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
|
19,687 |
|
18,926 |
|
62,025 |
|
50,564 |
|
|
|
|
|
|
|
|
|
|
| Impairment of goodwill / intangible assets |
|
|
-- |
|
-- |
|
65,225 |
|
-- |
|
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
|
70,895 |
|
61,403 |
|
275,457 |
|
177,466 |
|
|
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
6,426 |
|
8,154 |
|
(31,189) |
|
37,487 |
|
|
|
|
|
|
|
|
|
|
| Gain from investments, net |
|
|
14,766 |
|
48,319 |
|
65,101 |
|
72,826 |
|
|
|
|
|
|
|
|
|
|
| Interest income and other, net |
|
|
(5,760) |
|
1,515 |
|
1,258 |
|
8,488 |
|
|
|
|
|
|
|
|
|
|
| Income before income taxes and minority interest |
|
|
15,432 |
|
57,988 |
|
35,170 |
|
118,801 |
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
(53) |
|
(773) |
|
(2,824) |
|
9,143 |
|
|
|
|
|
|
|
|
|
|
| Minority interest in income (loss) |
|
|
534 |
|
(168) |
|
186 |
|
(328) |
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
15,913 |
$ |
57,047 |
$ |
32,532 |
$ |
127,616 |
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share: |
|
$ |
0.19 |
$ |
0.70 |
$ |
0.40 |
$ |
1.59 |
|
|
|
|
|
|
|
|
|
|
| Weighted average ordinary shares outstanding ('000) |
|
|
83,307 |
|
80,955 |
|
82,357 |
|
80,460 |
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share: |
|
$ |
0.18 |
$ |
0.68 |
$ |
0.38 |
$ |
1.53 |
|
|
|
|
|
|
|
|
|
|
Weighted average ordinary shares
and equivalents outstanding ('000) |
|
|
86,274 |
|
84,237 |
|
85,480 |
|
83,519 |
|
|
|
|
|
|
|
|
|
|
|
CREATIVE TECHNOLOGY LTD.
SUPPLEMENTAL FINANCIAL INFORMATION
|
|
Three months ended |
|
March 31,
2005 |
December 31,
2004 |
March 31,
2004 |
Revenue by geographical region : |
|
| Americas |
42% |
42% |
42% |
| Europe |
40% |
39% |
39% |
| Asia and rest of the world |
18% |
19% |
19% |
|
Revenue by product category : |
|
| Personal Digital Entertainment |
68% |
64% |
33% |
| Audio |
13% |
13% |
24% |
| Speakers |
11% |
15% |
22% |
| Others |
8% |
8% |
21% | |
|