Creative 2004 Annual Report Download - page 11

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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
2004 2003 2002
Sales, net 100 % 100 % 100 %
Cost of goods sold 65 65 67
Gross profit 35 35 33
Operating expenses:
Selling, general and administrative 21 23 21
Research and development 8 8 5
Other charges – – 3
Operating income 6 4 4
Gross (Loss) from investments, net 9 (1) (6)
Interest income and other, net 1 1 1
Income (loss) before income taxes and minority interest 16 4 (1)
Provision for income taxes 1 (1) (1)
Minority interest in (income) loss – – –
Net income (loss) 17 % 3 % (2) %
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
2004 2003 2002
Audio 25 % 33 % 44 %
Speakers 23 % 23 % 21 %
Personal Digital Entertainment 33 % 18 % 9 %
Graphics & Video 8 % 12 % 6 %
Communication 4% 6 % 9 %
Others 7 % 8 % 11 %
US report 04-6 22-9 27/9/04, 3:40 PM9
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