Monday, May 2, 2011

Creative Announces Q3 FY11 US$27.4 million Loss

Creative has released its Q3FY11 Financial Results and things ain't pretty.

Net Sales
- decreased by 10% compared to the same period last year due to the difficult market particularly for the company's personal digital entertainment products

Gross Profit
- stands at 24% which is rather healthy I would say

Net Loss
- US$27.4 million for the past 9 months. R&D increased by 16% as it is critical to the company's business

- Creative expects to report another loss for the current quarter
- The company will take steps to reduce expenses and headcount this quarter and to incur US$10 million in this retrenchment exercise
- Creative is targeting to return to profitability this calendar year

For the full release, please visit, download the Earning Release PDF.

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