CREATIVE TECHNOLOGY LTD FIRST QUARTER ENDED 30 SEPTEMBER 2016 FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT TABLE OF CONTENTS

Item No Description Page

  1. CONSOLIDATED INCOME STATEMENT 2

  2. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 3

  3. BALANCE SHEETS 4

  4. CONSOLIDATED STATEMENTS OF CASH FLOWS 5

  5. STATEMENTS OF CHANGES IN EQUITY 6

  6. GROUP BORROWINGS 8

  7. NET ASSET VALUE 8

  8. AUDIT 8

  9. AUDITORS' REPORT 8

  10. ACCOUNTING POLICIES 8

  11. CHANGES IN ACCOUNTING POLICIES 8

  12. REVIEW OF GROUP PERFORMANCE 9

  13. VARIANCE FROM PROSPECT STATEMENT 10

  14. PROSPECTS 10

  15. DIVIDEND 10

  16. INTERESTED PERSON TRANSACTIONS 10

  17. CONFIRMATION OF DIRECTORS AND EXECUTIVE OFFICERS' UNDERTAKINGS 10

PURSUANT TO LISTING RULE 720(1)

CONFIRMATION BY THE BOARD 11

UNAUDITED RESULTS FOR THE FIRST QUARTER ENDED 30 SEPTEMBER 2016
  1. CONSOLIDATED INCOME STATEMENT GROUP Three months ended 30 September 2016 2015 %change

    US$'000 US$'000 + / (-)

    Sales, net 17,252 22,511 (23)

    Cost of goods sold (12,419) (16,749) (26)

    Gross profit 4,833 5,762 (16)

    Expenses:

    Selling, general and administrative (7,793) (11,964) (35)

    Research and development (3,430) (5,925) (42)

    Total expenses (11,223) (17,889) (37)

    Other income 96 89 8

    Other gains 651 -- n.m.

    Other losses (192) (1,837) (90)

    Share of loss of associated companies (326) -- n.m.

    Loss before income tax (6,161) (13,875) (56)

    Income tax expense (40) (38) 5

    Net loss (6,201) (13,913) (55) Attributable to:

    Equity holders of the Company (6,211) (13,927) (55)

    Non-controlling interests 10 14 (29)

    Loss per share for loss attributable to equity holders of the Company

    - Basic (US$ per share)

    (0.09)

    (0.20)

    (55)

    - Diluted (US$ per share)

    (0.09)

    (0.20)

    (55)

    n.m. - not meaningful

    1(a) Net loss is arrived at after accounting for: GROUP Three months ended 30 September 2016 2015 % change

    US$'000 US$'000 + / (-)

    Write-off/write-down for inventory obsolescence

    (969)

    (189)

    n.m.

    Gain on disposal of investments

    639

    -

    n.m.

    Foreign exchange gain (loss)

    1

    (1,662)

    (100)

  2. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME GROUP Three months ended 30 September 2016 2015 % change

    US$'000 US$'000 + / (-)

    Net loss

    Other comprehensive loss:

    (6,201)

    (13,913)

    (55)

    Available-for-sale financial assets: Fair value losses

    (79)

    (2,712)

    (97)

    Reclassification

    (639)

    -

    n.m.

    Total comprehensive loss for the period

    (6,919)

    (16,625)

    (58)

    Attributable to:

    Shareholders of the Company

    (6,929)

    (16,639)

    (58)

    Non-controlling interests

    10

    14

    (29)

    Total comprehensive loss for the period

    (6,919)

    (16,625)

    (58)

  3. BALANCE SHEETS
Group Company

ASSETS

Current assets:

Cash and cash equivalents

30 September

2016

US$'000

86,587

30 June

2016

US$'000

94,738

30 September

2016

US$'000

82,207

30 June

2016

US$'000

88,362

Trade receivables

8,105

7,570

649

245

Amounts due from subsidiaries

-

-

46,566

43,979

Inventories

24,890

25,052

4,783

5,153

Other current assets

1,607

1,797

641

633

121,189

129,157

134,846

138,372

Non-current assets:

Available-for-sale financial assets

11,049

11,960

-

-

Amounts due from subsidiaries

-

-

15,388

14,923

Investments in subsidiaries

-

-

25,353

25,353

Property and equipment

841

870

107

131

Other non-current assets

191

190

-

-

12,081

13,020

40,848

40,407

Total assets

133,270

142,177

175,694

178,779

LIABILITIES

Current liabilities:

Trade payables

7,585

9,651

741

1,588

Amounts due to subsidiaries

-

-

8,826

8,325

Accrued liabilities and provisions

23,508

23,377

11,697

11,468

Current income tax liabilities

294

347

-

-

31,387

33,375

21,264

21,381

Non-current liabilities:

Amounts due to subsidiaries

- - 30,806

30,162

Deferred income tax liabilities

10,302 10,302 -

-

10,302 10,302 30,806

30,162

Total liabilities

41,689

43,677

52,070

51,543

NET ASSETS

91,581

98,500

123,624

127,236

EQUITY

Share capital

266,753

266,753

266,753

266,753

Treasury shares

(16,262)

(16,262)

(16,262)

(16,262)

Fair value reserve

5,856

6,574

-

-

Other reserves

62,364

62,364

34,900

34,900

Accumulated losses

(227,430)

(221,219)

(161,767)

(158,155)

91,281

98,210

123,624

127,236

Non-controlling interests

300

290

-

-

Total equity

91,581

98,500

123,624

127,236

Creative Technology Ltd. published this content on 20 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 October 2017 01:51:02 UTC.

Original documenthttps://www.creative.com/corporate/investor/releases.aspx?id=13569

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