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Specifically, Creative had projected first quarter fiscal 2001 revenues increasing by approximately 10 percent over the same quarter of the previous year, or growing to around US$:295 million. The Company had also projected a net operating margin of 10 percent before US$:10 to $:12 million of operating expenses related to its Internet initiatives. Final results for revenue, net operating margin and operating expenses will not be available until the Creative closes its books for first quarter fiscal 2001.
The Company expects to release first quarter, fiscal year 2001 results on October 24, 2000.
Safe Harbor for Forward-Looking Statements Under The Private Securities Litigation Reform Act of 1995:
Except for the historical information contained herein, the matters set forth herein (including anyreferences to revenue, net operating margin, net income and earnings per share, future financial performance, products and marketing efforts) are forward-looking statements within the meaning of the "safe harbor" provisions of The Private Securities Litigation Reform Act of 1995. Readers of this press release and listeners to the conference call are cautioned not to place undue emphasis or reliance on these forward-looking statements which reflect management's analysis, judgement, belief or expectation only as of the date hereof. These forward-looking statements are subject to certain assumptions, risks and uncertainties that could cause actual results to differ materially from those set forth or implied in the forward looking statements. Such assumptions, risks and uncertainties include, among others: potential fluctuations in the value and liquidity of Creative's investee companies; the timing or completion of a subsidiary IPO and/or the valuation that would apply in the event of a consummation of a subsidiary IPO; potential fluctuations in quarterly results due to the seasonality of Creative's business and the difficulty of projecting such fluctuations; the vulnerability of certain markets to current and future currency fluctuations, including the exchange rate of the Euro, labor shortages or work stoppages, and credit shortages; effects of restricted fuel availability and rising costs of fuel; reductions in the market value of products sold by Creative, including increases in inventory or declines in demand or prices for optical storage devices, board and chip-level products, software, speakers, digital entertainment appliances, and other products; the short product cycles that characterize most of Creative's products; the increasing proliferation of sound functionality in new products from new and existing competitors and at the application software, chip and operating system levels; Creative's reliance on sole sources for many of its chips and other key components; component shortages which may impact Creative's ability to meet customer demand; the timely development, ramp, delivery and market acceptance of new products, including Creative's next generation audio, graphics accelerator, CD-ROM and DVD drives, communications and personal digital entertainment products, including the NOMAD Jukebox; the volatility of share prices for companies in Creative's industry and the effect of those prices or other events beyond Creative's control; and other risk factors described in Creative's filings with the Securities and Exchange Commission over the past twelve months. Creative undertakes no obligation to publicly release the results of any revisions to such forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.