 |
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000)
|
|
|
|
(Unaudited) |
|
|
|
|
|
December 31, |
|
June 30, |
|
|
|
2005 |
|
2005 |
| ASSETS |
|
|
|
|
|
 |
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
200,390 |
$ |
187,246 |
| Accounts receivable, net |
|
|
204,301 |
|
163,184 |
| Inventory |
|
|
301,128 |
|
395,886 |
| Other assets and prepaids |
|
|
43,356 |
|
43,144 |
|
|
|
|
|
|
| Total current assets |
|
|
749,175 |
|
789,460 |
|
|
|
|
|
|
| Property and equipment, net |
|
|
116,133 |
|
117,187 |
| Investments |
|
|
98,156 |
|
125,914 |
| Other non-current assets |
|
|
46,610 |
|
44,913 |
|
|
|
|
|
|
| Total Assets |
|
$ |
1,010,074 |
$ |
1,077,474 |
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
| Accounts payable |
|
$ |
114,018 |
$ |
151,070 |
|
Accrued liabilities |
|
|
122,813 |
|
103,768 |
| Income taxes payable |
|
|
18,382 |
|
20,712 |
|
Current portion of long term obligations and others |
|
|
6,134 |
|
7,383 |
|
|
|
|
|
|
| Total current liabilities |
|
|
261,347 |
|
282,933 |
|
|
|
|
|
|
| Long term obligations |
|
|
207,001 |
|
209,455 |
| Minority interest in subsidiaries |
|
|
3,659 |
|
3,954 |
| Shareholders' equity |
|
|
538,067 |
|
581,132 |
|
|
|
|
|
|
| Total Liabilities and Shareholders' Equity |
|
$ |
1,010,074 |
$ |
1,077,474 |
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In US$'000, except per share data)
(Unaudited)
|
|
|
|
Three months ended |
|
Six months ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2005 |
|
2004 |
|
2005 |
|
2004 |
|
|
|
|
|
|
|
|
|
|
| Sales, net |
|
$ |
390,826 |
$ |
375,142 |
$ |
670,999 |
$ |
585,162 |
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
305,440 |
|
273,398 |
|
529,047 |
|
418,215 |
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
85,386 |
|
101,744 |
|
141,952 |
|
166,947 |
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
55,220 |
|
56,931 |
|
100,485 |
|
96,999 |
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
|
22,734 |
|
22,620 |
|
42,661 |
|
42,338 |
|
|
|
|
|
|
|
|
|
|
| Impairment of goodwill / intangible assets |
|
|
-- |
|
65,225 |
|
-- |
|
65,225 |
|
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
|
77,954 |
|
144,776 |
|
143,146 |
|
204,562 |
|
|
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
7,432 |
|
(43,032) |
|
(1,194) |
|
(37,615) |
|
|
|
|
|
|
|
|
|
|
| Gain from investments, net |
|
|
6,880 |
|
51,539 |
|
16,908 |
|
50,335 |
|
|
|
|
|
|
|
|
|
|
| Interest income |
|
|
1,399 |
|
651 |
|
2,394 |
|
1,361 |
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
|
(2,244) |
|
(456) |
|
(4,261) |
|
(607) |
|
|
|
|
|
|
|
|
|
|
| Others |
|
|
(5,140) |
|
5,555 |
|
(4,988) |
|
6,264 |
|
|
|
|
|
|
|
|
|
|
| Income before income taxes and minority interest |
|
|
8,327 |
|
14,257 |
|
8,859 |
|
19,738 |
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
(115) |
|
(2,236) |
|
(253) |
|
(2,771) |
|
|
|
|
|
|
|
|
|
|
| Minority interest in (income) loss |
|
|
(1) |
|
(178) |
|
296 |
|
(348) |
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
8,211 |
$ |
11,843 |
$ |
8,902 |
$ |
16,619 |
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share: |
|
$ |
0.10 |
$ |
0.14 |
$ |
0.11 |
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
| Weighted average ordinary shares outstanding ('000) |
|
|
82,740 |
|
82,320 |
|
83,148 |
|
81,882 |
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share: |
|
$ |
0.10 |
$ |
0.14 |
$ |
0.11 |
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
Weighted average ordinary shares
and equivalents outstanding ('000) |
|
|
83,532 |
|
85,930 |
|
84,111 |
|
85,083 |
|
|
|
|
|
|
|
|
|
|
|
CREATIVE TECHNOLOGY LTD.
SUPPLEMENTAL FINANCIAL INFORMATION
|
| |
Three months ended |
| |
Dec 31,
2005 |
Sept 30,
2005 |
Dec 31,
2004 |
Revenue by geographical region : |
|
| Americas |
37% |
41% |
42% |
| Europe |
48% |
39% |
39% |
| Asia and rest of the world |
15% |
20% |
19% |
|
Revenue by product category : |
|
| Personal Digital Entertainment |
67% |
66% |
64% |
| Audio |
13% |
13% |
13% |
| Speakers |
13% |
13% |
15% |
| Others |
7% |
8% |
8% |
|
|