Company Briefs: Creative Technology

Creative Technology

Sound card maker Creative Technology reported a fourth-quarter net loss of US$5.5 million (S$7.5 million) against earnings of US$535,000 previously.

Revenue for the three months to June 30 fell by 15 per cent to US$14.5 million. Full-year net loss amounted to US$22.9 million, reversing from net profit of US$2.6 million last year, on the back of a 17 per cent drop in sales to US$69.9 million. The fall in fourth-quarter and full-year revenue was due to uncertain market conditions.

The receipt of a settlement sum of US$31.2 million after winning patent infringement lawsuits in the US last month means that Creative expects to post a net profit in the first quarter ending Sept 30, offsetting an anticipated operating loss.

F J Benjamin Holdings

Fashion retailer F J Benjamin Holdings narrowed its losses for the year to June 30, it said yesterday.

The group saw a full-year net loss of $17.4 million - or 24 per cent less than the losses the year before - as turnover fell by 18 per cent to $207.5 million.

It managed to slash operating expenses and marked a gain from the sale of businesses, which helped to salve the hurt.

Loss per share was 3.06 cents, from 4.04 cents a year ago, while net asset value fell to 7.49 cents a share against 10.81 cents before.

F J Benjamin shares closed down by 0.1 cent, or 2.4 per cent, at 4.1 cents, before results were announced.

Tiong Woon Corporation Holding

Tiong Woon Corporation Holding's losses narrowed by a sliver for the full year to June 30, it said yesterday.

Net loss was $9.6 million against last year's $9.7 million. This came on revenue of $114.8 million for the 12 months, a drop of 18 per cent from the year before.

The heavy lift specialist and service provider managed to close some of the gap by reducing spending and making a gain on disposal of plant and equipment

Loss per share was 4.15 cents, compared with 4.16 cents previously, while net asset value was 106.23 cents a share, down from 110.69 cents a year earlier.

Tiong Woon shares closed up 1.5 cents, or 6.8 per cent, at 23.5 cents, before results were announced.

A version of this article appeared in the print edition of The Straits Times on August 25, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe