Listen to Creative's Q2 FY01 Analyst Conference Call:
Creative's Investor Relations Web site: http://www.creative.com/investor Link to Q2 earnings announcement call live on Web site at 4:00 p.m. PST 01/19/01 Replay available from shortly after end of conference call on 01/19/01 until 1/26/01 at 6:00 PM Conference call replay number 1-800-633-8284 or 1-858-812-6440, reservation #17675518 Second Quarter Fiscal 2001 Results CREATIVE TECHNOLOGY LTD.
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000)
|
|
|
(Unaudited) |
|
|
|
|
|
December 31, |
|
June 30, |
|
|
|
2000 |
|
2000 |
| ASSETS |
|
|
|
|
|
 |
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
|
Cash and cash equivalents |
$ |
169,042 |
$ |
285,757 |
|
Marketable securities |
|
4,415 |
|
21,156 |
|
Accounts receivable, net |
|
152,209 |
|
98,923 |
|
Inventory |
|
273,532 |
|
230,616 |
|
Other assets and prepaids |
|
27,114 |
|
34,942 |
|
Total current assets |
|
626,312 |
|
671,394 |
|
|
|
|
|
|
| Property and equipment, net |
|
|
101,464 |
|
96,751 |
| Investments |
|
|
237,063 |
|
395,888 |
| Other non-current assets |
|
|
20,677 |
|
12,426 |
|
|
$ |
985,516 |
$ |
1,176,459 |
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
|
Accounts payable |
$ |
195,718 |
$ |
183,299 |
|
Accrued liabilities |
|
93,839 |
|
103,756 |
|
Income taxes payable |
|
49,391 |
|
48,350 |
|
Other current liabilities |
|
4,185 |
|
4,575 |
|
Total current liabilities |
|
343,133 |
|
339,980 |
|
|
|
|
|
|
| Long term obligations |
|
|
28,278 |
|
27,051 |
|
|
|
|
|
|
| Minority interest in subsidiaries |
|
|
30,905 |
|
30,790 |
|
|
|
|
|
|
| Total shareholders' equity: |
|
|
583,200 |
|
778,638 |
|
|
|
|
|
|
|
|
$ |
985,516 |
$ |
1,176,459 |
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, |
|
|
|
2000 |
|
1999 |
|
2000 |
|
1999 |
|
|
|
|
|
|
|
|
|
|
| Sales, net |
|
$ |
427,026 |
$ |
436,789 |
$ |
731,394 |
$ |
705,867 |
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
313,069 |
|
306,912 |
|
524,403 |
|
505,974 |
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
113,957 |
|
129,877 |
|
206,991 |
|
199,893 |
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
70,064 |
|
76,340 |
|
128,166 |
|
129,842 |
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
15,115 |
|
14,717 |
|
30,211 |
|
27,430 |
|
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
|
85,179 |
|
91,057 |
|
158,377 |
|
157,272 |
|
|
|
|
|
|
|
|
|
|
| Operating income |
|
|
28,778 |
|
38,820 |
|
48,614 |
|
42,621 |
|
|
|
|
|
|
|
|
|
|
|
Gain from investments, net |
|
|
507 |
|
9,235 |
|
2,858 |
|
13,600 |
|
|
|
|
|
|
|
|
|
|
| Interest income and other, net |
|
|
2,055 |
|
918 |
|
1,143 |
|
4,774 |
|
|
|
|
|
|
|
|
|
|
| Income before income taxes and minority interest |
|
|
31,340 |
|
48,973 |
|
52,615 |
|
60,995 |
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
(4,624) |
|
(3,939) |
|
(8,409) |
|
(5,141) |
|
|
|
|
|
|
|
|
|
|
| Minority interest in income |
|
|
(241) |
|
(554) |
|
(109) |
|
(564) |
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
26,475 |
$ |
44,480 |
$ |
44,097 |
$ |
55,290 |
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share: |
|
$ |
0.34 |
$ |
0.54 |
$ |
0.56 |
$ |
0.67 |
|
|
|
|
|
|
|
|
|
|
| Average ordinary shares outstanding ('000) |
|
|
78,964 |
|
81,999 |
|
79,406 |
|
82,705 |
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share: |
|
$ |
0.33 |
$ |
0.52 |
$ |
0.53 |
$ |
0.65 |
|
|
|
|
|
|
|
|
|
|
| Average ordinary shares and equivalents outstanding ('000) |
|
|
81,180 |
|
86,291 |
|
82,666 |
|
85,573 | |
