Creative Technology reports net loss of $3.8 million for Q4

Net loss for the 12 months to June 30 widened by 53 per cent to a loss of US$33.4 million.
Net loss for the 12 months to June 30 widened by 53 per cent to a loss of US$33.4 million.PHOTO: BLOOMBERG

SINGAPORE - Homegrown sound card maker Creative Technology has posted yet another lacklustre quarter but saw some improvement.

It recorded a net loss of US$2.7 million (S$3.8 million) for the third quarter, a 22 per cent improvement compared with last year's US$3.4 million loss.

Sales for the three months to June 30 declined 8 per cent over last year to US$21.2 million.

The reduction in selling, general and administrative expenses resulting from the lower sales, was offset by an increase in marketing expenses for new products.

These include theSound Blaster Roar and Sound Blaster X7, and an increase in legal expenses for on-going litigation in the third and fourth quarter of the 2015 financial year.

Net loss for the 12 months to June 30 further widened by 53 per cent to a loss of US$33.4 million, while revenue fell 14 per cent to US$99.5 million.

Quarterly loss per share was 4 US cents, up from a loss of 5 US cents cents per share in the corresponding quarter last year.

Net asset value per share was US$1.45 as at March 31, down from US$1.93 on June 30 last year.

rachaelb@sph.com.sg