Creative 2004 Annual Report Download - page 29

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27
NOTE 3 – BALANCE SHEET DETAIL (in US$’000)
As of June 30
2004 2003
Inventory:
Raw materials $76,020 $ 20,189
Work in progress 13,946 2,918
Finished products 93,933 57,260
Total inventory $ 183,899 $ 80,367
Estimated As of June 30
Useful Life 2004 2003
Property and equipment:
Land and buildings 25 years $ 93,132 $ 92,719
Construction in progress – 998 –
Machinery and equipment 3 - 6 years 52,015 44,239
Furniture, fixtures and office equipments 2 - 8 years 91,232 79,659
Leasehold improvements Term of lease 12,963 12,546
$250,340 $ 229,163
Accumulated depreciation (144,142) (124,759)
Net property and equipment $ 106,198 $ 104,404
Following is a reconciliation between the average number of ordinary shares outstanding and equivalent shares outstanding (in ’000):
As of June 30
2004 2003 2002
Weighted average ordinary shares outstanding 80,654 79,202 73,182
Weighted average dilutive stock options outstanding 2,976 1,649 –
Weighted average ordinary shares and
equivalents outstanding 83,630 80,851 73,182
For fiscal 2003, approximately 0.5 million shares related to the convertible note were excluded from the computation of dilutive earnings
per share as the effect of including such shares would be anti-dilutive.
For fiscal 2002, approximately 2.4 million potentially dilutive shares were excluded from the determination of diluted net loss per share
as the effect of including such shares would be anti-dilutive.
earnings per share, the treasury stock method is used to determine, based on average stock prices for the respective periods, the
ordinary equivalent shares to be purchased using proceeds received from the exercise of such equivalent shares. Other than the dilutive
effect of stock options, there are no other financial instruments that would impact the weighted average number of ordinary shares
outstanding used for computing diluted earnings per share. The potentially dilutive ordinary equivalent shares outstanding under the
employee share purchase plan were not material.