 |
| CONTACT INFORMATION: Theresa Pulido Creative Labs, Inc. tpulido@soundblaster.com Gary Brotman Golin/Harris Communications, Inc. gbrotman@golinharris.com First Quarter Fiscal 2000 Results CREATIVE TECHNOLOGY LTD. CONSOLIDATED BALANCE SHEETS (In US$'000, except per share data) (Unaudited) September 30, June 30, 1999 1999 ASSETS Current Assets: Cash and cash equivalents $ 265,161 $ 318,990 Marketable securities 25,144 -- Accounts receivable, less allowances of $20,959 and $12,721 151,803 130,144 Inventory 142,847 148,028 Other assets and prepaids 15,836 12,709 Total current assets 600,791 609,871 Property and equipment, net 95,444 97,961 Investments and other non-current assets 145,275 97,857 $ 841,510 $ 805,689 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 130,743 $ 101,666 Other accrued liabilities 67,787 55,684 Income taxes payable 48,083 47,031 Current portion of long term obligations 5,093 4,492 Total current liabilities 251,706 208,873 Long term obligations 27,744 28,642 Minority interest in subsidiaries 7,923 7,913 Shareholders' equity: Ordinary shares ('000); S$0.25 par value; Authorized: 200,000 shares Outstanding: 82,440 and 83,971 shares 8,121 8,348 Additional paid-in capital 170,985 170,157 Unrealised holding gains on quoted investments 13,616 15,405 Deferred share compensation -4,303 -5,078 Retained earnings 365,718 371,429 Total shareholders' equity 554,137 560,261 $ 841,510 $ 805,689 -------------------------------------------------------------------------------- CREATIVE TECHNOLOGY LTD. CONSOLIDATED STATEMENTS OF OPERATIONS (In US$'000, except per share data) (Unaudited) Three months ended September 30, 1999 1998 Sales, net $ 269,078 $ 278,989 Cost of goods sold 199,062 199,156 Gross profit 70,016 79,833 Operating expenses: Selling, general and administrative 53,502 51,723 Research and development 12,713 10,346 Total operating expenses 66,215 62,069 Operating income 3,801 17,764 Interest income and other, net 8,221 5,617 Income before income taxes and minority interest 12,022 23,381 Provision for income taxes -1,202 -2,104 Minority interest in (income) loss -10 236 Net income $ 10,810 $ 21,513 Basic earnings per share: $ 0.13 $ 0.23 Average ordinary shares outstanding ('000) 83,410 92,989 Diluted earnings per share: $ 0.13 $ 0.23 Average ordinary shares and equivalents outstanding ('000) 84,855 94,968 |
|