Creative 2001 Annual Report Download - page 7

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7
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
2001 2000 1999
Sales, net 100 % 100 % 100 %
Cost of goods sold 73 70 73
Gross profit 27 30 27
Operating expenses:
Selling, general and administrative 19 19 16
Research and development 4 4 3
Restructuring and other charges 2 2 –
Operating income 2 5 8
(Loss) gain from investments, net (12) 8 1
Interest income and other, net – – 1
(Loss) income before income taxes and minority interest (10) 13 10
Provision for income taxes (1) (1) (1)
Minority interest in (income) loss – – –
Net (loss) income (11) % 12 % 9 %
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
2001 2000 1999
Audio products 41 % 39 % 38 %
Speakers 12 % 11 % 7 %
Multimedia Upgrade Kits 22 % 23 % 27 %
Graphic & Video products 6 % 15 % 20 %
Personal Digital Entertainment 9 % 4 % –
Communication/ Other products 10 % 8 % 8 %