 |
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In US$'000, except per share data)
(Unaudited)
|
|
|
Three months ended March 31, |
|
Nine months ended March 31, |
|
|
|
2000 |
|
1999 |
|
2000 |
|
1999 |
 |
|
|
|
|
|
|
|
|
|
| Sales, net |
|
$ |
330,022 |
$ |
313,715 |
$ |
1,035,889 |
$ |
1,021,403 |
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
228,444 |
|
232,964 |
|
734,418 |
|
731,428 |
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
101,578 |
|
80,751 |
|
301,471 |
|
289,975 |
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
64,167 |
|
51,534 |
|
194,009 |
|
161,702 |
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
16,538 |
|
11,825 |
|
43,968 |
|
33,852 |
|
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
|
80,705 |
|
63,359 |
|
237,977 |
|
195,554 |
|
|
|
|
|
|
|
|
|
|
| Operating income |
|
|
20,873 |
|
17,392 |
|
63,494 |
|
94,421 |
|
|
|
|
|
|
|
|
|
|
|
Gain from investments, net |
|
|
70,632 |
|
239 |
|
84,232 |
|
2,486 |
|
|
|
|
|
|
|
|
|
|
| Interest income and other, net |
|
|
(542) |
|
2,669 |
|
4,232 |
|
12,133 |
|
|
|
|
|
|
|
|
|
|
| Income before income taxes and minority interest |
|
|
90,963 |
|
20,300 |
|
151,958 |
|
109,040 |
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
(2,327) |
|
(1,624) |
|
(7,468) |
|
(8,617) |
|
|
|
|
|
|
|
|
|
|
| Minority interest in (income) loss |
|
|
(317) |
|
(425) |
|
(881) |
|
(77) |
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
88,319 |
$ |
18,251 |
$ |
143,609 |
$ |
100,346 |
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share: |
|
$ |
1.09 |
$ |
0.21 |
$ |
1.75 |
$ |
1.10 |
|
|
|
|
|
|
|
|
|
|
| Average ordinary shares outstanding ('000) |
|
|
81,339 |
|
88,398 |
|
82,249 |
|
91,271 |
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share: |
|
$ |
1.01 |
$ |
0.20 |
$ |
1.66 |
$ |
1.07 |
|
|
|
|
|
|
|
|
|
|
| Average ordinary shares and equivalents outstanding ('000) |
|
|
87,697 |
|
90,835 |
|
86,281 |
|
93,646 |
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000, except per share data)
(Unaudited)
|
|
|
March 31, |
|
June 30, |
|
|
|
2000 |
|
1999 |
| ASSETS |
|
|
|
|
|
|
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
|
Cash and cash equivalents |
$ |
283,276 |
$ |
318,990 |
|
Marketable securities |
|
32,263 |
|
-- |
|
Accounts receivable, net |
|
133,719 |
|
130,144 |
|
Inventory |
|
179,211 |
|
148,028 |
|
Other assets and prepaids |
|
23,434 |
|
12,709 |
|
Total current assets |
|
651,903 |
|
609,871 |
|
|
|
|
|
|
| Property and equipment, net |
|
|
94,359 |
|
97,961 |
| Investments |
|
|
285,590 |
|
70,305 |
| Other non-current assets |
|
|
15,063 |
|
27,552 |
|
|
$ |
1,046,915 |
$ |
805,689 |
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
|
Accounts payable |
$ |
132,089 |
$ |
101,666 |
|
Accrued liabilities |
|
84,261 |
|
55,684 |
|
Income taxes payable |
|
50,835 |
|
47,031 |
|
Other current liabilities |
|
3,678 |
|
4,492 |
|
Total current liabilities |
|
270,863 |
|
208,873 |
|
|
|
|
|
|
| Long term obligations |
|
|
25,655 |
|
28,642 |
|
|
|
|
|
|
| Minority interest in subsidiaries |
|
|
8,718 |
|
7,913 |
|
|
|
|
|
|
| Total shareholders' equity: |
|
|
741,679 |
|
560,261 |
|
|
|
|
|
|
|
|
$ |
1,046,915 |
$ |
805,689 |
|
|
