 |
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000)
|
|
|
|
(Unaudited) |
|
|
|
|
|
June 30, |
|
June 30, |
|
|
|
2003 |
|
2002 |
| ASSETS |
|
|
|
|
|
 |
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
232,053 |
$ |
166,917 |
|
Marketable equity securities |
|
|
- |
|
1,388 |
| Accounts receivable, net |
|
|
61,225 |
|
85,193 |
| Inventory |
|
|
80,367 |
|
108,549 |
| Other assets and prepaids |
|
|
11,269 |
|
17,773 |
|
|
|
|
|
|
| Total current assets |
|
|
384,914 |
|
379,820 |
|
|
|
|
|
|
| Property and equipment, net |
|
|
104,404 |
|
104,748 |
| Investments |
|
|
49,168 |
|
66,688 |
| Other non-current assets |
|
|
108,357 |
|
115,122 |
|
|
|
|
|
|
| Total Assets |
|
$ |
646,843 |
$ |
666,378 |
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
| Accounts payable |
|
$ |
52,869 |
$ |
64,809 |
|
Accrued liabilities |
|
|
79,573 |
|
77,831 |
| Income taxes payable |
|
|
37,564 |
|
43,794 |
|
Current portion of long term obligations and others |
|
|
5,519 |
|
27,441 |
|
|
|
|
|
|
| Total current liabilities |
|
|
175,525 |
|
213,875 |
|
|
|
|
|
|
| Long term obligations |
|
|
39,027 |
|
16,782 |
| Minority interest in subsidiaries |
|
|
3,454 |
|
11,769 |
| Shareholders' equity: |
|
|
428,837 |
|
423,952 |
|
|
|
|
|
|
| Total Liabilities and Shareholders' Equity |
|
$ |
646,843 |
$ |
666,378 |
|
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, |
|
|
|
2003 |
|
2002 |
|
2003 |
|
2002 |
|
|
|
|
|
|
|
|
|
|
| Sales, net |
|
$ |
149,589 |
$ |
182,572 |
$ |
701,769 |
$ |
805,905 |
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
96,788 |
|
122,291 |
|
452,952 |
|
543,382 |
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
52,801 |
|
60,281 |
|
248,817 |
|
262,523 |
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
34,266 |
|
42,815 |
|
162,839 |
|
170,122 |
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
|
15,583 |
|
10,748 |
|
58,775 |
|
38,248 |
|
|
|
|
|
|
|
|
|
|
| Other charges |
|
|
-- |
|
26,080 |
|
-- |
|
26,080 |
|
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
|
49,849 |
|
79,643 |
|
221,614 |
|
234,450 |
|
|
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
2,952 |
|
(19,362) |
|
27,203 |
|
28,073 |
|
|
|
|
|
|
|
|
|
|
| Gain (loss) from investments, net |
|
|
10 |
|
(29,845) |
|
(6,049) |
|
(45,414) |
|
|
|
|
|
|
|
|
|
|
| Interest income and other, net |
|
|
1,972 |
|
2,289 |
|
4,864 |
|
5,155 |
|
|
|
|
|
|
|
|
|
|
| Income (loss) before income taxes and minority interest |
|
|
4,934 |
|
(46,918) |
|
26,018 |
|
(12,186) |
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
(295) |
|
(1,012) |
|
(2,720) |
|
(5,698) |
|
|
|
|
|
|
|
|
|
|
| Minority interest in (income) loss |
|
|
(12) |
|
(436) |
|
79 |
|
(1,843) |
|
|
|
|
|
|
|
|
|
|
| Net income (loss) |
|
$ |
4,627 |
$ |
(48,366) |
$ |
23,377 |
$ |
(19,727) |
|
|
|
|
|
|
|
|
|
|
| Basic earnings (loss) per share: |
|
$ |
0.06 |
$ |
(0.65) |
$ |
0.30 |
$ |
(0.27) |
|
|
|
|
|
|
|
|
|
|
| Weighted average ordinary shares outstanding ('000) |
|
|
79,527 |
|
74,375 |
|
79,202 |
|
73,182 |
|
|
|
|
|
|
|
|
|
|
| Diluted earnings (loss) per share: |
|
$ |
0.06 |
$ |
(0.65) |
$ |
0.29 |
$ |
(0.27) |
|
|
|
|
|
|
|
|
|
|
Weighted average ordinary shares **
and equivalents outstanding ('000) |
|
|
80,906 |
|
74,375 |
|
80,851 |
|
73,182 |
|
|
|
|
|
|
|
|
|
| |
|