Revenues for the second quarter: USD$262.5 million
Net Income for second quarter: USD$7.6 million
“We continue to improve our operating results, achieving operating income of $7 million compared to $3.3 million last year and increasing gross margins to 23 percent,” said Craig McHugh, president and COO of Creative Labs, Inc. “During the quarter we also strengthened our balance sheet, increasing our cash position to $291 million and reducing our net inventory to $93 million. We were able to improve our operating results even though we had a reduction in our year-over-year revenues.”
This is the second quarter that Creative manage to stay in the black, despite not having any new product release in the past few months. Looking ahead, Creative will release the ZEN Stone/Stone Plus with built-in speaker (which sounds pretty decent & supports iTunes plus music) on 15 Febuary and a new player on 6 March.
Check out the Chinese New Year offers @ http://sg.store.creative.com/promos/cny08/ for special bundle deals and accessories for your ZEN going at only $8!
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