Creative 2009 Annual Report Download - page 19

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19
CREATIVE฀TECHNOLOGY฀LTD฀AND฀ITS฀SUBSIDIARIES
CONSOLIDATED CASH FLOW STATEMENT
– For the financial year ended 30 June 2009
฀Group
฀ ฀ ฀ 2009฀ 2008฀
฀ Note฀ US$’000฀ US$’000
Cash฀flows฀from฀operating฀activities:฀ ฀ ฀
฀ Net฀(loss)฀profit฀฀ ฀ (137,876)฀ 128,177฀
฀ Adjustments฀for:
฀ ฀ Income฀tax฀(credit)฀expense฀ ฀ (515)฀ 1,735฀
฀ ฀ Depreciation฀of฀property฀and฀equipment฀ ฀ 8,260฀฀ `9,720฀
฀ ฀ Amortisation฀of฀intangible฀assets฀ ฀ ฀75฀฀ ฀303฀
฀ ฀ Employee฀share฀option฀expense฀ ฀ ฀1,230฀฀ ฀1,568฀
฀ ฀ Share฀of฀loss฀of฀associated฀companies฀ ฀ 2,498฀฀ 2,458฀
฀ ฀ Loss฀(gain)฀on฀disposal฀of฀property฀and฀equipment฀ ฀ 231฀฀ ฀(147,353)
฀ ฀ Impairment฀loss฀of฀financial฀assets,฀available-for-sale฀ ฀ ฀13,374฀฀ ฀12,136฀
฀ ฀ Net฀impairment฀loss฀of฀investments฀in฀associated฀companies฀ ฀ 148฀฀ 3,500฀
฀ ฀ Gain฀on฀disposal฀of฀financial฀assets,฀available-for-sale฀ ฀ (305)฀ (8,732)
฀ ฀ Gain฀on฀disposal฀of฀investments฀in฀subsidiaries฀ ฀ (39)฀ (8,984)
฀ ฀ Gain฀on฀disposal฀of฀investments฀in฀associated฀companies฀ ฀ –฀฀ (16,681)
฀ ฀ Foreign฀exchange฀loss฀(gain)฀ ฀ 17,735฀฀ (7,894)
฀ ฀ Dividend฀income฀ ฀ (312)฀ (1,691)
฀ ฀ Chairman’s฀gift฀of฀shares฀to฀employees฀ ฀ –฀฀ 3,774฀
฀ ฀ Interest฀income฀ ฀ (3,965)฀ (10,679)
฀ ฀ Interest฀expense฀ ฀ 135฀฀ 5,644฀
฀ ฀ ฀ (99,326)฀ (32,999)
Changes฀in฀working฀capital,฀net฀of฀effects฀from฀acquisition฀and฀
฀ disposal฀of฀subsidiaries
฀ ฀ Trade฀receivables฀ ฀ ฀32,313฀฀ 74,417฀
฀ ฀ Inventories฀ ฀ 63,143฀฀ 3,358฀
฀ ฀ Other฀assets฀and฀receivables฀ ฀ 56,436฀฀ (76,478)
฀ ฀ Trade฀payables฀ ฀ (41,087)฀ 14,650฀
฀ ฀ Accrued฀liabilities฀and฀provisions฀ ฀ (25,619)฀ 359฀
Cash฀used฀in฀operations฀ ฀ (14,140)฀ (16,693)
Interest฀received฀ ฀ 3,995฀฀ 10,716฀
Interest฀paid฀ ฀ (132)฀ (5,783)
Income฀tax฀(paid)฀refunded฀ ฀ (2,571)฀ 11,945฀
฀฀฀฀Net฀cash฀(used฀in)฀provided฀by฀operating฀activities฀ ฀ (12,848)฀ 185
Cash฀flows฀from฀investing฀activities:
฀ Purchase฀of฀property฀and฀equipment฀ ฀ (3,300)฀ (12,586)
฀ Proceeds฀from฀sale฀of฀property฀and฀equipment฀ ฀ 315฀฀ 180,864฀
฀ Proceeds฀from฀disposal฀of฀investments฀in฀associated฀companies฀ ฀ –฀฀ 14,648฀
฀ Proceeds฀from฀sale฀of฀financial฀assets,฀available-for-sale฀ ฀ ฀440฀฀ 29,038฀
฀ Cash฀(outflow)฀inflow฀from฀sale฀of฀investments฀in฀subsidiaries฀ 17฀ (270)฀ 8,894฀
฀ Purchase฀of฀new฀subsidiaries฀(net฀of฀cash฀acquired)฀ 17฀ (600)฀ –฀
฀ Purchase฀of฀financial฀assets,฀available-for-sale฀ ฀ (202)฀ (9,528)
฀ Purchase฀of฀intangible฀assets฀ ฀ (1,465)฀ –฀
฀ Purchase฀of฀additional฀investments฀in฀associated฀companies฀ ฀ –฀฀ (1,832)
฀ Dividend฀received฀ ฀ 312฀฀ 1,691฀
฀฀฀฀Net฀cash฀(used฀in)฀provided฀by฀investing฀activities฀ ฀ (4,770)฀ 211,189฀
Cash฀flows฀from฀financing฀activities:
฀ Proceeds฀from฀exercise฀of฀ordinary฀share฀options฀ ฀ 10฀฀ 97฀
฀ Purchase฀of฀treasury฀shares฀ ฀ (22,719)฀ (32,196)
฀ Repayments฀of฀borrowings฀ ฀ (100,000)฀ (19,794)
฀ Repayments฀of฀capital฀leases฀ ฀ (22)฀ (17)
฀ Dividends฀paid฀to฀equity฀holders฀of฀the฀Company฀ ฀ –฀฀ (11,528)
฀฀฀฀Net฀cash฀used฀in฀financing฀activities฀ ฀ (122,731)฀ (63,438)
Net฀(decrease)฀increase฀in฀cash฀and฀cash฀equivalents฀ ฀ (140,349)฀ 147,936฀
Cash฀and฀cash฀equivalents฀at฀beginning฀of฀financial฀year฀ 10฀ 408,644฀฀ 250,480฀
Effects฀of฀currency฀translation฀on฀cash฀and฀cash฀equivalents฀ ฀ (17,744)฀ 10,228฀
Cash฀and฀cash฀equivalents฀at฀end฀of฀financial฀year฀ 10฀ 250,551฀฀ 408,644฀
The accompanying notes form an integral part of these financial statements.
AR09 pg1-64_Final.indd 19 10/2/2009 10:38:07 AM