Press Relations

Press Releases


Third Quarter Fiscal 2004 Results

CREATIVE TECHNOLOGY LTD.
CONSOLIDATED BALANCE SHEETS
(In US$'000)

(Unaudited) March 31, June 30, 2004 2003 ASSETS Current Assets: Cash and cash equivalents $

229,939

$

232,053

Accounts receivable, net

77,289

61,225

Inventory

160,532

80,367

Other assets and prepaids

32,348

11,269

Total current assets

500,108

384,914

 Property and equipment, net

106,604

104,404

Investments

199,789

49,168

Other non-current assets

116,712

108,357

Total Assets $

923,213

 $

646,843

 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $

80,942

$

52,869

Accrued liabilities

87,749

79,573

Income taxes payable

36,916

37,564

Current portion of long term obligations and others

6,919

5,519

Total current liabilities

212,526

175,525

 Long term obligations

32,554

39,027

Minority interest in subsidiaries

3,561

3,454

Shareholders' equity:

674,572

428,837

Total Liabilities and Shareholders' Equity $

923,213

 $

646,843



CREATIVE TECHNOLOGY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In US$'000, except per share data)
(Unaudited)

Three months ended Nine months ended
March 31, March 31,
2004 2003 2004 2003
Sales, net $

201,835

 $

160,617

 $

613,073

 $

552,180

Cost of goods sold

132,278

104,365

398,120

356,164

Gross profit

69,557

56,252

214,953

196,016

Operating expenses:
Selling, general and administrative

42,477

37,379

126,902

128,573

Research and development

18,926

14,646

50,564

43,192

Total operating expenses

61,403

 52,025

177,466

 171,765
Operating income

8,154

4,227

37,487

24,251

Gain (loss) from investments, net

48,319

85

72,826

(6,059)

Interest income and other, net

1,515

886

8,488

2,892

Income before income taxes and minority interest

57,988

5,198

118,801

 21,084
Provision for income taxes

(773)

(423)

9,143

(2,425)

Minority interest in loss

(168)

73

(328)

91

Net income $

57,047

 $ 4,848 $

127,616

 $ 18,750
Basic earnings per share: $

0.70

 $ 0.06 $

1.59

 $ 0.24
Weighted average ordinary shares outstanding ('000) 80,955 79,377 80,460 79,093
Diluted earnings per share: $

0.68

 $ 0.06 $

1.53

 $ 0.23
Weighted average ordinary shares **
and equivalents outstanding ('000)

84,237

 80,557

83,519

 80,833