Listen to Creative's Q4 FY01 Analyst Conference Call:
Link to the Q4 earnings conference call live on August 9th at 4:00 p.m. PDT via Creative's Investor Relations Web site: http://www.creative.com/investorReplay available from shortly after the end of the conference call until 8/16/01 via link from the IR web site or by calling 1-800-633-8284, reservation # 19434636.
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000)
|
|
|
|
(Unaudited) |
|
|
|
|
|
June 30, |
|
June 30, |
|
|
|
2001 |
|
2000 |
| ASSETS |
|
|
|
|
|
 |
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
|
Cash and cash equivalents |
$ |
168,157 |
$ |
285,757 |
|
Marketable securities |
|
3,581 |
|
21,156 |
|
Accounts receivable, net |
|
94,445 |
|
98,923 |
|
Inventory |
|
155,550 |
|
230,616 |
|
Other assets and prepaids |
|
19,476 |
|
34,942 |
|
Total current assets |
|
441,209 |
|
671,394 |
|
|
|
|
|
|
| Property and equipment, net |
|
|
110,535 |
|
96,751 |
| Investments |
|
|
118,330 |
|
395,888 |
| Other non-current assets |
|
|
3,906 |
|
12,426 |
|
|
|
|
|
|
| Total Assets |
|
$ |
673,980 |
$ |
1,176,459 |
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
|
Accounts payable |
$ |
88,691 |
$ |
183,299 |
|
Accrued liabilities |
|
98,135 |
|
103,756 |
|
Income taxes payable |
|
37,821 |
|
48,350 |
|
Other current liabilities |
|
3,602 |
|
4,575 |
|
Total current liabilities |
|
228,249 |
|
339,980 |
|
|
|
|
|
|
| Long term obligations |
|
|
32,340 |
|
27,051 |
|
|
|
|
|
|
| Minority interest in subsidiaries |
|
|
31,505 |
|
30,790 |
|
|
|
|
|
|
| Total shareholders' equity: |
|
|
381,886 |
|
778,638 |
|
|
|
|
|
|
| Total Liabilities and Shareholders' Equity |
|
$ |
673,980 |
$ |
1,176,459 |
>
|
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, |
|
|
|
2001 |
|
2000 |
|
2001 |
|
2000 |
|
|
|
|
|
|
|
|
|
|
| Sales, net |
|
$ |
234,178 |
$ |
307,715 |
$ |
1,228,602 |
$ |
1,343,604 |
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
170,628 |
|
212,739 |
|
894,236 |
|
947,157 |
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
63,550 |
|
94,976 |
|
334,366 |
|
396,447 |
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
48,683 |
|
59,724 |
|
232,951 |
|
253,733 |
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
12,431 |
|
16,460 |
|
54,022 |
|
60,428 |
|
|
|
|
|
|
|
|
|
|
|
Restructuring and other charges |
|
--
|
|
20,000 |
|
22,814 |
|
20,000 |
|
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
|
61,114 |
|
96,184 |
|
309,787 |
|
334,161 |
|
|
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
2,436 |
|
(1,208) |
|
24,579 |
|
62,286 |
|
|
|
|
|
|
|
|
|
|
|
(Loss) gain from investments, net |
|
|
(75,988) |
|
19,211 |
|
(148,490) |
|
103,443 |
|
|
|
|
|
|
|
|
|
|
| Interest income and other, net |
|
|
183 |
|
1,055 |
|
2,416 |
|
5,287 |
|
|
|
|
|
|
|
|
|
|
| (Loss) income before income taxes and minority interest |
|
|
(73,369) |
|
19,058 |
|
(121,495) |
|
171,016 |
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
--
|
|
(2,004) |
|
(8,409) |
|
(9,472) |
|
|
|
|
|
|
|
|
|
|
| Minority interest in (income) loss |
|
|
(71) |
|
349 |
|
(469) |
|
(532) |
|
|
|
|
|
|
|
|
|
|
| Net (loss) income |
|
$ |
(73,440) |
$ |
17,403 |
$ |
(130,373) |
$ |
161,012 |
|
|
|
|
|
|
|
|
|
|
| Basic (loss) earnings per share: |
|
$ |
(0.94) |
$ |
0.21 |
$ |
(1.65) |
$ |
1.96 |
|
|
|
|
|
|
|
|
|
|
| Weighted average ordinary shares outstanding ('000) |
|
|
78,084 |
|
81,367 |
|
79,049 |
|
82,028 |
|
|
|
|
|
|
|
|
|
|
| Diluted (loss) earnings per share: |
|
$ |
(0.94) |
$ |
0.20 |
$ |
(1.65) |
$ |
1.86 |
|
|
|
|
|
|
|
|
|
|
Weighted average ordinary shares **
and equivalents outstanding ('000) |
|
|
78,084 |
|
87,605 |
|
79,049 |
|
86,612 |
|
|
|
|
|
|
|
|
|
|
** In computing the diluted earnings per share for the current quarter and cumulative year to date, 0.237 million and
2.040 million of potentially dilutive shares were not included since the company was in net loss position. | |
