 |
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000)
|
|
|
|
(Unaudited) |
|
|
|
|
|
June 30, |
|
June 30, |
|
|
|
2005 |
|
2004 |
| ASSETS |
|
|
|
|
|
 |
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
187,246 |
$ |
211,077 |
| Accounts receivable, net |
|
|
163,184 |
|
85,456 |
| Inventory |
|
|
395,886 |
|
183,899 |
| Other assets and prepaids |
|
|
43,144 |
|
27,156 |
|
|
|
|
|
|
| Total current assets |
|
|
789,460 |
|
507,588 |
|
|
|
|
|
|
| Property and equipment, net |
|
|
117,187 |
|
106,198 |
| Investments |
|
|
125,914 |
|
209,291 |
| Other non-current assets |
|
|
44,913 |
|
117,771 |
|
|
|
|
|
|
| Total Assets |
|
$ |
1,077,474 |
$ |
940,848 |
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
| Accounts payable |
|
$ |
151,070 |
$ |
86,179 |
|
Accrued liabilities |
|
|
103,768 |
|
88,542 |
| Income taxes payable |
|
|
20,712 |
|
28,160 |
|
Current portion of long term obligations and others |
|
|
7,383 |
|
7,205 |
|
|
|
|
|
|
| Total current liabilities |
|
|
282,933 |
|
210,086 |
|
|
|
|
|
|
| Long term obligations |
|
|
209,455 |
|
35,614 |
| Minority interest in subsidiaries |
|
|
3,954 |
|
3,651 |
| Shareholders' equity |
|
|
581,132 |
|
691,497 |
|
|
|
|
|
|
| Total Liabilities and Shareholders' Equity |
|
$ |
1,077,474 |
$ |
940,848 |
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In US$'000, except per share data)
(Unaudited)
|
|
|
|
Three months ended |
|
Twelve months ended |
|
|
|
June 30, |
|
June 30, |
|
|
|
2005 |
|
2004 |
|
2005 |
|
2004 |
|
|
|
|
|
|
|
|
|
|
| Sales, net |
|
$ |
305,409 |
$ |
201,780 |
$ |
1,224,411 |
$ |
814,853 |
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
274,417 |
|
135,393 |
|
949,151 |
|
533,513 |
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
30,992 |
|
66,387 |
|
275,260 |
|
281,340 |
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
48,051 |
|
40,686 |
|
196,258 |
|
167,588 |
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
|
20,300 |
|
18,940 |
|
82,325 |
|
69,504 |
|
|
|
|
|
|
|
|
|
|
| Impairment of goodwill / intangible assets |
|
|
-- |
|
-- |
|
65,225 |
|
-- |
|
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
|
68,351 |
|
59,626 |
|
343,808 |
|
237,092 |
|
|
|
|
|
|
|
|
|
|
| Operating (loss) income |
|
|
(37,359) |
|
6,761 |
|
(68,548) |
|
44,248 |
|
|
|
|
|
|
|
|
|
|
| Gain (loss) from investments, net |
|
|
9,304 |
|
(224) |
|
74,405 |
|
72,602 |
|
|
|
|
|
|
|
|
|
|
| Interest (expense) income and other, net |
|
|
(5,621) |
|
788 |
|
(4,363) |
|
9,276 |
|
|
|
|
|
|
|
|
|
|
| (Loss) income before income taxes and minority interest |
|
|
(33,676) |
|
7,325 |
|
1,494 |
|
126,126 |
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
1,855 |
|
(604) |
|
(969) |
|
8,539 |
|
|
|
|
|
|
|
|
|
|
| Minority interest in (income) loss |
|
|
(123) |
|
(90) |
|
63 |
|
(418) |
|
|
|
|
|
|
|
|
|
|
| Net (loss) income |
|
$ |
(31,944) |
$ |
6,631 |
$ |
588 |
$ |
134,247 |
|
|
|
|
|
|
|
|
|
|
| Basic (loss) earnings per share: |
|
$ |
(0.38) |
$ |
0.08 |
$ |
0.01 |
$ |
1.66 |
|
|
|
|
|
|
|
|
|
|
| Weighted average ordinary shares outstanding ('000) |
|
|
83,576 |
|
81,236 |
|
82,661 |
|
80,654 |
|
|
|
|
|
|
|
|
|
|
| Diluted (loss) earnings per share: |
|
$ |
(0.38) |
$ |
0.08 |
$ |
0.01 |
$ |
1.61 |
|
|
|
|
|
|
|
|
|
|
Weighted average ordinary shares **
and equivalents outstanding ('000) |
|
|
83,576 |
|
83,960 |
|
85,333 |
|
83,630 |
|
|
|
|
|
|
|
|
|
|
| ** |
In computing the diluted earnings per share for the current quarter 1.317 million of
potentially dilutive shares was not included since the company was in net loss position | |
|
CREATIVE TECHNOLOGY LTD.
SUPPLEMENTAL FINANCIAL INFORMATION
|
|
Three months ended |
|
June 30,
2005 |
March 31,
2005 |
June 30,
2004 |
Revenue by geographical region : |
|
| Americas |
41% |
42% |
50% |
| Europe |
39% |
40% |
33% |
| Asia and rest of the world |
20% |
18% |
17% |
|
Revenue by product category : |
|
| Personal Digital Entertainment |
68% |
68% |
44% |
| Audio |
11% |
13% |
19% |
| Speakers |
13% |
12% |
20% |
| Others |
8% |
7% |
17% | |
|