Creative 2006 Annual Report Download - page 15

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15
QUARTERLY฀RESULTS
The฀following฀is฀a฀summary฀of฀Creative’s฀unaudited฀quarterly฀results฀for฀the฀eight฀quarters฀ended฀June฀30,฀2006,฀together฀with฀the฀
percentage฀of฀sales฀represented฀by฀such฀results.฀Consistent฀with฀the฀PC฀peripherals฀and฀digital฀entertainment฀markets,฀demand฀
for฀Creative’s฀products฀is฀generally฀stronger฀in฀the฀quarter฀ended฀December฀31,฀compared฀to฀any฀other฀quarter฀of฀the฀fiscal฀year฀
due฀to฀consumer฀buying฀patterns.฀In฀management’s฀opinion,฀the฀results฀detailed฀below฀have฀been฀prepared฀on฀a฀basis฀consistent฀
with฀the฀audited฀financial฀statements฀and฀include฀all฀adjustments,฀consisting฀only฀of฀normal฀recurring฀adjustments,฀necessary฀for฀
a฀fair฀presentation฀of฀the฀information฀for฀the฀periods฀presented฀when฀read฀in฀conjunction฀with฀the฀financial฀statements฀and฀notes฀
thereto฀contained฀elsewhere฀herein.฀Creative’s฀business฀is฀seasonal฀in฀nature฀and฀the฀quarterly฀results฀are฀not฀necessarily฀indicative฀
of฀the฀results฀to฀be฀achieved฀in฀future฀quarters.
฀Unaudited data for quarters ended (in US$’000 except per share data)
Jun 30 Mar 31 Dec 31 Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
2006 2006 2005 2005 2005 2005 2004 2004
฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀
Sales,฀net฀฀ $฀ 230,875฀฀ $฀ 225,657฀฀$฀ 390,826฀฀$฀ 280,173฀฀$฀ 305,409฀฀$฀ 333,840฀฀$฀ 375,142฀฀ $฀ 210,020฀
Cost฀of฀goods฀sold฀ ฀ 198,371฀฀ ฀ 235,799฀฀฀ 305,440฀฀ ฀ 223,607฀฀฀ 274,417฀฀฀ 256,519฀ ฀ 273,398฀฀฀ 144,817฀
Gross฀profit฀ ฀ 32,504฀฀ ฀ (10,142)฀฀฀ 85,386฀฀฀ 56,566฀฀฀ 30,992฀฀฀ 77,321฀฀฀ 101,744฀฀฀ 65,203
Operating฀expenses:฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀
฀ Selling,฀general฀and฀
฀ ฀ administrative฀ ฀ 42,753฀฀ ฀ 51,959฀฀฀ 55,220฀฀฀ 45,265฀฀฀ 48,051฀฀฀ 51,208฀฀฀ 56,931฀฀฀ 40,068
฀ Research฀and฀development฀ ฀ 15,682฀ ฀ 18,843฀฀฀ 22,734฀฀ ฀ 19,927฀฀฀ 20,300฀฀ ฀ 19,687฀฀ ฀ 22,620฀ ฀ 19,718
฀ Other฀charges฀ ฀ –฀ ฀ 37,351฀ ฀ –฀ ฀ –฀ ฀ –฀ ฀ –฀ ฀ 65,225฀ ฀ –
Operating฀(loss)฀income฀ ฀ (25,931)฀ ฀ (118,295)฀฀ 7,432฀฀฀ (8,626)฀฀ (37,359)฀฀ 6,426฀ ฀ (43,032)฀฀ 5,417
Net฀(loss)฀gain฀from฀investments฀ ฀ (34)฀ ฀ 2,030฀฀฀ 6,880฀฀ ฀ 10,028฀ ฀ 9,304฀ ฀ 14,766฀ ฀ 51,539฀฀ ฀ (1,204)
Interest฀income฀ ฀ 2,000฀ ฀ 1,847฀ ฀ 1,399฀ ฀ 995฀ ฀ 967฀ ฀ 1,243฀ ฀ 651฀ ฀ 710
Interest฀expense฀ ฀ (2,701)฀ ฀ (2,449)฀฀ (2,244)฀ ฀ (2,017)฀฀ (1,792)฀฀ (1,275)฀฀ (456)฀฀ (151)
Others฀ ฀ 6,072฀ ฀ 2,488฀฀฀ (5,140)฀฀฀ 152฀฀฀ (4,796)฀฀฀ (5,728)฀฀฀ 5,555฀฀ ฀ 709
(Loss)฀income฀before฀income฀฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀
฀ taxes฀and฀minority฀interest฀ ฀ (20,594)฀ ฀ (114,379)฀฀฀ 8,327฀฀฀ 532฀ ฀ (33,676)฀฀ 15,432฀ ฀ 14,257฀฀฀ 5,481
Provision฀for฀income฀taxes฀ ฀ 7,632฀ ฀ (229)฀฀ (115)฀฀ (138)฀฀ 1,855฀ ฀ (53)฀ ฀ (2,236)฀ ฀ (535)
Minority฀interest฀in฀฀ ฀
฀ loss฀(income)฀ ฀ 230฀ ฀ 279฀ ฀ (1)฀฀ 297฀ ฀ (123)฀฀ 534฀ ฀ (178)฀฀ (170)
Net฀(loss)฀income฀ $฀ (12,732)฀ $฀ (114,329)฀฀$฀ 8,211฀฀ $฀ 691฀ $฀ (31,944)฀$฀ 15,913฀ $฀ 11,843฀฀$฀ 4,776
฀
Basic฀(loss)฀earnings฀per฀share฀ $฀ (0.15)฀ $฀ (1.38)฀฀$฀ 0.10฀฀ $฀ 0.01฀ $฀ (0.38)฀$฀ 0.19฀ $฀ 0.14฀฀ $฀ 0.06฀
Weighted฀average฀ordinary฀฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀ ฀
฀ shares฀outstanding฀(’000)฀ ฀ 83,179฀ ฀ 82,895฀฀ ฀ 82,740฀ ฀ 83,556฀ ฀ ฀฀฀฀฀83,576฀ ฀ 83,307฀ ฀ 82,320฀ ฀ 81,443
Diluted฀(loss)฀earnings฀per฀share฀ $฀ (0.15)฀ $฀ (1.38)฀฀$฀ 0.10฀฀ $฀ 0.01฀ $฀ (0.38)฀ $฀ 0.18฀ $฀ 0.14฀฀ $฀ 0.06฀
Weighted฀average฀ordinary฀฀
฀ shares฀and฀equivalents฀฀
฀ outstanding฀(’000)฀ ฀ 83,179฀฀ ฀ ฀82,895฀฀฀ ฀83,532฀ ฀ ฀84,690฀฀฀ ฀83,576฀฀฀ ฀86,274฀฀ ฀ ฀85,930฀฀฀ ฀84,237