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| First Quarter Fiscal 2003 Results CREATIVE TECHNOLOGY LTD. CONSOLIDATED BALANCE SHEETS (In US$'000) (Unaudited) September 30, June 30, 2002 2002 ASSETS Current Assets: Cash and cash equivalents $ 182,047 $ 166,917 Marketable equity securities 615 1,388 Accounts receivable, net 85,631 85,193 Inventory 109,167 108,549 Other assets and prepaids 16,725 17,773 Total current assets 394,185 379,820 Property and equipment, net 106,088 104,748 Investments 55,352 66,688 Other non-current assets 112,238 115,122 Total Assets $ 667,863 $ 666,378 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 81,773 $ 64,809 Accrued liabilities 92,271 77,831 Income taxes payable 43,367 43,794 Current portion of long term obligations and others 22,562 27,441 Total current liabilities 239,973 213,875 Long term obligations 16,227 16,782 Minority interest in subsidiaries 3,114 11,769 Total shareholders' equity: 408,549 423,952 Total Liabilities and Shareholders' Equity $ 667,863 $ 666,378 -------------------------------------------------------------------------------- CREATIVE TECHNOLOGY LTD. CONSOLIDATED STATEMENTS OF OPERATIONS (In US$'000, except per share data) (Unaudited) Three months ended September 30, 2002 2001 Sales, net $ 160,623 $ 180,442 Cost of goods sold 102,630 124,529 Gross profit 57,993 55,913 Operating expenses: Selling, general and administrative 42,155 43,427 Research and development 15,267 9,608 Total operating expenses 57,422 53,035 Operating income 571 2,878 Loss from investments, net (6,316) (16,425) Interest income and other, net 807 1,424 Loss before income taxes and minority interest (4,938) (12,123) Provision for income taxes (57) (230) Minority interest in (loss) income 18 (495) Net loss $ (4,977) $ (12,848) Basic loss per share: $ (0.06) $ (0.17) Weighted average ordinary shares outstanding ('000) 78,877 73,854 Diluted loss per share: $ (0.06) $ (0.17) Weighted average ordinary shares ** and equivalents outstanding ('000) 78,877 73,854 ** In computing the diluted earnings per share for the current quarter, 2.4 million of potentially dilutive shares was not included since the company was in net loss position. |
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