Creative 2000 Annual Report Download - page 9

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9
RESULTS OF OPERATIONS
The following table sets forth, for the periods indicated, selected statement of operations data as a percentage of sales:
Years ended June 30
2000 1999 1998
Sales, net 100 % 100 % 100 %
Cost of goods sold 70 73 69
Gross profit 30 27 31
Operating expenses:
Selling, general and administrative 19 16 13
Research and development 4 3 3
Other charges 2 – 6
Operating income 5 8 9
Gain from investments, net 8 1 2
Interest income and other, net – 1 2
Income before income taxes and minority interest 13 10 13
Provision for income taxes (1) (1) (2)
Minority interest in (income) loss – – –
Net income 12 % 9 % 11 %
Creative’s net sales, by product category, for the past three fiscal years were as follows:
Percentage of Net Sales
for fiscal years ended June 30
2000 1999 1998
Audio products 39 % 38 % 45 %
Multimedia Upgrade Kits 23 % 27 % 36 %
Graphic & Video products 18 % 20 % 8 %
Speakers/ Communication/ Other products 20 % 15 % 11 %