Creative 2003 Annual Report Download - page 32

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31
NOTE 6 – COMPREHENSIVE INCOME
The components of total comprehensive income are as follows (in US$’000):
Years ended June 30
2003 2002 2001
Net income (loss) $ 23,377 $ (19,727) $ (130,373)
Movement in unrealized holding gains (losses) (3,110) 15,042 (26,899)
Reclassification adjustments:
– Gains (losses) included in net income (loss) (3,337) (16,655) (124,800)
(6,447) (1,613) (151,699)
Total comprehensive income (loss) $ 16,930 $ (21,340) $ (282,072)
NOTE 7 – SHARE REPURCHASES
Details of Share repurchases by Creative during the fiscal years since the commencement of the program on November
6, 1998 are set out below:
Years ended June 30, Number of Shares Repurchased Average Price
(in millions) (US$)
1999 10.0 $ 14
2000 5.9 $ 17
2001 7.7 $ 12
2002 2.7 $ 7
2003 – –
Total 26.3 $ 13
At the 2002 Annual General Meeting (“AGM”) held on November 20, 2002, the shareholders approved the share repurchase
mandate allowing Creative to buy up to 10% of the issued share capital of Creative as at the date of the AGM. This
amounts to approximately 7.9 million shares and the authority to repurchase these shares shall continue in force unless
revoked or revised by the shareholders in a general meeting, or until the date that the next AGM of Creative is held or
is required to be held, whichever is the earlier.
In accordance with Singapore statutes, such repurchases are recorded as a reduction in retained earnings.