 |
| Listen to Creative's Q2 FY02 Analyst Conference Call:
Creative's Investor Relations Web site: http://www.creative.com/investorLink to Q2 earnings analyst call live at 3:00 p.m. PST January 23, 2002 via Creative's Web site or call 1-800-774-8574. Replay available from shortly after end of conference call until 1/30/02 via the web site or at 1-800-633-8284, reservation #20230727.
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000)
|
|
|
(Unaudited) |
|
|
|
|
|
December 31, |
|
June 30, |
|
|
|
2001 |
|
2001 |
| ASSETS |
|
|
|
|
|
 |
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
178,261 |
$ |
168,157 |
|
Marketable securities |
|
|
2,439 |
|
3,581 |
| Accounts receivable, net |
|
|
105,263 |
|
94,445 |
| Inventory |
|
|
121,213 |
|
155,550 |
| Other assets and prepaids |
|
|
20,168 |
|
19,476 |
| Total current assets |
|
|
427,344 |
|
441,209 |
|
|
|
|
|
|
| Property and equipment, net |
|
|
105,187 |
|
110,535 |
| Investments |
|
|
93,856 |
|
118,330 |
| Other non-current assets |
|
|
3,638 |
|
3,906 |
|
|
|
|
|
|
| Total Assets |
|
$ |
630,025 |
$ |
673,980 |
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
| Accounts payable |
|
$ |
88,237 |
$ |
88,691 |
|
Accrued liabilities |
|
|
81,898 |
|
98,135 |
| Income taxes payable |
|
|
44,806 |
|
47,601 |
|
Other current liabilities |
|
|
3,520 |
|
3,602 |
| Total current liabilities |
|
|
218,461 |
|
238,029 |
|
|
|
|
|
|
| Long term obligations |
|
|
20,602 |
|
22,560 |
|
|
|
|
|
|
| Minority interest in subsidiaries |
|
|
32,388 |
|
31,505 |
|
|
|
|
|
|
| Total shareholders' equity: |
|
|
358,574 |
|
381,886 |
|
|
|
|
|
|
| Total Liabilities and Shareholders' Equity |
|
$ |
630,025 |
$ |
673,980 |
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In US$'000, except per share data)
(Unaudited)
|
|
|
Three months ended December 31, |
|
Twelve months ended December 31, |
|
|
|
2001 |
|
2000 |
|
2001 |
|
2000 |
|
|
|
|
|
|
|
|
|
|
| Sales, net |
|
$ |
250,938 |
$ |
427,026 |
$ |
433,192 |
$ |
731,394 |
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
167,353 |
|
313,069 |
|
291,882 |
|
524,403 |
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
83,585 |
|
113,957 |
|
141,310 |
|
206,991 |
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
46,575 |
|
70,064 |
|
91,814 |
|
128,166 |
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
9,480 |
|
15,115 |
|
19,088 |
|
30,211 |
|
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
|
56,055 |
|
85,179 |
|
110,902 |
|
158,377 |
|
|
|
|
|
|
|
|
|
|
| Operating income |
|
|
27,530 |
|
28,778 |
|
30,408 |
|
48,614 |
|
|
|
|
|
|
|
|
|
|
|
Gain (loss) from investments, net |
|
|
728 |
|
507 |
|
(15,697) |
|
2,858 |
|
|
|
|
|
|
|
|
|
|
| Interest income and other, net |
|
|
1,291 |
|
2,055 |
|
2,715 |
|
1,143 |
|
|
|
|
|
|
|
|
|
|
| Income before income taxes and minority interest |
|
|
29,549 |
|
31,340 |
|
17,426 |
|
52,615 |
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
(2,753) |
|
(4,624) |
|
(2,983) |
|
(8,409) |
|
|
|
|
|
|
|
|
|
|
| Minority interest in income |
|
|
(489) |
|
(241) |
|
(984) |
|
(109) |
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
26,307 |
$ |
26,475 |
$ |
13,459 |
$ |
44,097 |
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share: |
|
$ |
0.36 |
$ |
0.34 |
$ |
0.18 |
$ |
0.56 |
|
|
|
|
|
|
|
|
|
|
| Weighted average ordinary shares outstanding ('000) |
|
|
72,366 |
|
78,964 |
|
73,110 |
|
79,406 |
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share: |
|
$ |
0.36 |
$ |
0.33 |
$ |
0.18 |
$ |
0.53 |
|
|
|
|
|
|
|
|
|
|
Weighted average ordinary shares **
and equivalents outstanding ('000) |
|
|
73,664 |
|
81,180 |
|
73,895 |
|
82,666 |
|
|
|
|
|
|
|
|
|
|
| |
