 |
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000)
|
|
|
|
(Unaudited) |
|
|
|
|
|
December 31, |
|
June 30, |
|
|
|
2003 |
|
2003 |
| ASSETS |
|
|
|
|
|
 |
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
195,226 |
$ |
232,053 |
| Accounts receivable, net |
|
|
113,865 |
|
61,225 |
| Inventory |
|
|
154,799 |
|
80,367 |
| Other assets and prepaids |
|
|
33,870 |
|
11,269 |
|
|
|
|
|
|
| Total current assets |
|
|
497,760 |
|
384,914 |
|
|
|
|
|
|
| Property and equipment, net |
|
|
106,160 |
|
104,404 |
| Investments |
|
|
59,068 |
|
49,168 |
| Other non-current assets |
|
|
139,831 |
|
108,357 |
|
|
|
|
|
|
| Total Assets |
|
$ |
802,819 |
$ |
646,843 |
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
| Accounts payable |
|
$ |
125,169 |
$ |
52,869 |
|
Accrued liabilities |
|
|
94,959 |
|
79,573 |
| Income taxes payable |
|
|
39,943 |
|
37,564 |
|
Current portion of long term obligations and others |
|
|
15,867 |
|
5,519 |
|
|
|
|
|
|
| Total current liabilities |
|
|
275,938 |
|
175,525 |
|
|
|
|
|
|
| Long term obligations |
|
|
32,925 |
|
39,027 |
| Minority interest in subsidiaries |
|
|
3,393 |
|
3,454 |
| Shareholders' equity: |
|
|
490,563 |
|
428,837 |
|
|
|
|
|
|
| Total Liabilities and Shareholders' Equity |
|
$ |
802,819 |
$ |
646,843 |
|
CREATIVE TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In US$'000, except per share data)
(Unaudited)
|
|
|
|
Three months ended |
|
Six months ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2003 |
|
2002 |
|
2003 |
|
2002 |
|
|
|
|
|
|
|
|
|
|
| Sales, net |
|
$ |
250,422 |
$ |
230,940 |
$ |
411,238 |
$ |
391,563 |
|
|
|
|
|
|
|
|
|
|
| Cost of goods sold |
|
|
161,494 |
|
149,169 |
|
265,842 |
|
251,799 |
|
|
|
|
|
|
|
|
|
|
| Gross profit |
|
|
88,928 |
|
81,771 |
|
145,396 |
|
139,764 |
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling, general and administrative |
|
|
47,108 |
|
49,039 |
|
84,425 |
|
91,194 |
|
|
|
|
|
|
|
|
|
|
| Research and development |
|
|
16,800 |
|
13,279 |
|
31,638 |
|
28,546 |
|
|
|
|
|
|
|
|
|
|
| Total operating expenses |
|
|
63,908 |
|
62,318 |
|
116,063 |
|
119,740 |
|
|
|
|
|
|
|
|
|
|
| Operating income |
|
|
25,020 |
|
19,453 |
|
29,333 |
|
20,024 |
|
|
|
|
|
|
|
|
|
|
| Gain (loss) from investments, net |
|
|
937 |
|
172 |
|
24,507 |
|
(6,144) |
|
|
|
|
|
|
|
|
|
|
| Interest income and other, net |
|
|
5,259 |
|
1,199 |
|
6,973 |
|
2,006 |
|
|
|
|
|
|
|
|
|
|
| Income before income taxes and minority interest |
|
|
31,216 |
|
20,824 |
|
60,813 |
|
15,886 |
|
|
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
|
10,433 |
|
(1,945) |
|
9,916 |
|
(2,002) |
|
|
|
|
|
|
|
|
|
|
| Minority interest in loss |
|
|
(165) |
|
-- |
|
(160) |
|
18 |
|
|
|
|
|
|
|
|
|
|
| Net income |
|
$ |
41,484 |
$ |
18,879 |
$ |
70,569 |
$ |
13,902 |
|
|
|
|
|
|
|
|
|
|
| Basic earnings per share: |
|
$ |
0.52 |
$ |
0.24 |
$ |
0.88 |
$ |
0.18 |
|
|
|
|
|
|
|
|
|
|
| Weighted average ordinary shares outstanding ('000) |
|
|
80,522 |
|
79,026 |
|
80,212 |
|
78,951 |
|
|
|
|
|
|
|
|
|
|
| Diluted earnings per share: |
|
$ |
0.50 |
$ |
0.23 |
$ |
0.85 |
$ |
0.17 |
|
|
|
|
|
|
|
|
|
|
Weighted average ordinary shares **
and equivalents outstanding ('000) |
|
|
83,683 |
|
80,669 |
|
83,160 |
|
80,970 |
|
|
|
|
|
|
|
|
|
| |
|